Mercedes Benz ties up with SBI for car finance – business news

Luxury car manufacturer Mercedes-Benz on Tuesday said it has partnered with State Bank of India (SBI) for car finance at ‘attractive’ interest rate besides many other benefits. The collaboration will give Mercedes-Benz India access to the unparalleled market penetration of SBI’s HNI customer base, while the bank’s customers will enjoy exclusive benefits  on booking its luxury cars, the company said in a release.  

The tie-up guarantees many financial benefits including an attractive rate of interest. Besides, all customers booking a Mercedes-Benz car online through SBI’s digital platform YONO will get an additional benefit of  Rs 25,000 at the dealerships, it said. “Mercedes-Benz has been constantly exploring new avenues to reach out to potential customers and this is the first time we are collaborating with any bank. The collaboration…gives us an exciting opportunity to expand our customer base and reach out to the potential HNI customers of the bank with our products and services,” said Martin Schwenk, MD&CEO, Mercedes-Benz India. “We are confident the SBI customers will be highly excited with the seamless online journey we have created through our e-commerce portal, and avail subsequent benefits from this collaboration,” he added.

Under the tie-up, the SBI (high net-worth individuals) HNI customers in all its 17 circles across India will have access to the collaboration with Mercedes-Benz, enhancing the reach and increasing market penetration, the company said. “With attractive interest rates and customised benefits including a smart digital option of booking the Mercedes on YONO, we look forward to witnessing our HNI customers live through a unique journey of getting home the car,” said C S Setty, Managing Director (Retail & Digital Banking), SBI. The bank is optimistic that its customers will make the most of this advantageous offering amid festive season, he said.

The SBI customers can use YONO platform for online booking of Mercedes-Benz cars with additional benefits till December 31, the company said in the release. PTI IAS  ANU ANU

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