Nissan Motor India Private Limited has publicized its strategic tie-up with the leading public sector bank of India, the SBI (State Bank of India) to reach out to potential buyers across regions with easy finance options. Under the contract, SBI will at present provide the NMIPL customers easy and fast financing options with interest rate of up to 100 basis points lower as compared to present market rate. The tie-up, a joint venture between biggest Indian public sector bank and one of the biggest automobile manufacturing companies of the world is with the idea of bringing more car shoppers to Nissan brands.
State Bank of India, one of the biggest retail financing networks with around 14,000 branches will provide automotive loans to discerning buyers of Nissan at the rate of 11.75% fixed and 11.25% floating, which are 75 to 100 basic points lower as compared to current market rate. Mr. Sunil Reikhi, Chief Executive Office of Nissan Motor India Private Limited said that the company has made a firm promise to make its vehicles accessible to plenty of people across the nation. They are doing this by offering pioneering and ever expanding choice of cars across variety of model categories by having one of the quickest growing dealership networks in India and now by providing flexible financing options. In the present day statement with State Bank of India yet another significant step in eliminating all barriers in enjoying and owning their cars.
Mr. R.N. Mehra, Chief General Manager of State Bank of India said that they are proud to be connected with Nissan Motor India Private Limited, which is quite famous for excitement and innovation. The groundbreaking financing options offered by State Bank of India will bring plenty of excitement and cheer to the customers of Nissan and would transform in more car delivery at market place. With this joint venture, the dealers of NMIPL, a web based platform that is competent of being completely incorporated with Corporate Enterprise Resource Planning System and offer real time online transfer of money.
The dealer funding contract was signed by K Venkatachalpati, Small and Medium Enterprises of State Bank of India’s Deputy General Manager and Reikhi, while the retail contract was signed by Mehra and Reikhi. Nissan Motor India Private Limited is an Indian subsidiary of Japanese automobile manufacturer, Nissan Motor Company. It began with its operations in India in the year 2005 with the introduction of X-Trail model.