South Indian Bank signs MoU with Daimler India Commercial vehicles

by Psu Connect
Date: 10-08-24
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This partnership will offer customised and easy financing options for the entire BharatBenz commercial vehicle portfolio.

South Indian Bank signs MoU with Daimler India Commercial vehicles

Mumbai: South Indian Bank has signed an MOU with Daimler India Commercial Vehicles to finance BharatBenz dealers under the Bank’s dealer financing program. This partnership will offer customised and easy financing options for the entire BharatBenz commercial vehicle portfolio. The partnership focuses on strengthening dealership support through minimum collateral requirements, competitive interest rates, and streamlined credit processing.

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Ms. Biji S S, Senior General Manager & Group Business Head, South Indian Bank, commented, "We are pleased to partner with Daimler India Commercial Vehicles. It is our endeavour to provide convenient and comprehensive financing solutions to dealers through our diverse financial offerings. We believe that this partnership will fulfil the business needs of both organisations and create a positive impact."Mr. Sreeram Venkateswaran, President & Chief Business Officer, Daimler India Commercial Vehicles, said, “We are excited about our partnership with South Indian Bank, as it enables us to provide our dealer partners with tailored, flexible, and competitive financing solutions nationwide. Ensuring easy access to financing is crucial for the success of our valued dealers. This collaboration aims to simplify financing options, empowering our partners to achieve their business goals."

Daimler India Commercial Vehicles manufactures and sells BharatBenz-branded trucks ranging from 10 to 55 tons, along with buses, coaches, and bus chassis. The company is committed to delivering top-quality products and services through its extensive network of over 350 touchpoints. It offers exclusive service packages, such as Rakshana, which guarantees vehicle repair and delivery within 48 hours by trained technicians at its dealership.

The MOU was signed in the presence of Ms. Biji S S, Senior General Manager & Group Business Head, South Indian Bank, Ms. Karthika S, Zonal Business Head, Corporate Business Group, South Indian Bank, Mr. Sharan Rao, AVP – CV Financing & Insurance, Daimler India Commercial Vehicles, and Mr. Rishab Shandilya, AVP – Business Finance Sales India, Daimler India Commercial Vehicles.