Mahindra and Mahindra Financial Services Ltd announced a strategic partnership with India Post Payments Bank to enhance credit access to a larger customer base. India Post Payments Bank will provide lead referral services to Mahindra Finance for Passenger vehicles, three-wheelers, tractors, and commercial vehicle loan categories and provide cash EMI deposit facilities to existing Mahindra Finance Customers at the post office.
Key Points related to the Partnership of Mahindra and Mahindra Financial Services Ltd
- The scheme will go live in India Post Payments Bank branches in the states of Maharashtra and Madhya Pradesh.
- The payments Bank will also be able to expand its financial product portfolio within the payment Bank licensing framework.
- The objective is to enable simplified and reliable access to credit.
- The Tie-up will enable customers with financial security, empowerment, and ease of repayment.
- India Post Payments will provide a large set of networks to Mahindra Finance.