Chennai: Ashok Leyland has signed memorandum of understanding (MoU) with Suryoday Small Finance Bank Limited to enter into a strategic financing partnership for three years.
Under priority sector, benefits of this partnership will be to promote, market, and make accessible organised finance facility with superior features at competitive rates and concessions to the customers. The financial solution will be provided to customers across India, including semi-urban and rural areas, said a release.
Suryoday Small Finance Bank Limited will be able to provide end-to-end financial solutions to the customers of Ashok Leyland. The Bank will work towards catering to the customers’ needs through auto loans with easy monthly repayment plans best suited for the customers.
CFO, Ashok Leyland, Gopal Mahadevan, said, “The partnership with Suryoday Small Finance Bank Limited will benefit our stakeholders and customers with financial products, which are specifically tailored for hassle-free experience. Our vehicle finance business has a diversified customer base…who are based across India, including semi-urban and rural locations.”