Maruti Suzuki Partners with Equitas Bank to Boost Retail Car Financing

Maruti Suzuki India Limited (MSIL), India’s leading car manufacturer, has entered into a strategic vehicle financing partnership with Equitas Small Finance Bank (ESFB) to offer enhanced retail financing solutions for new cars, used cars, and commercial vehicles. The partnership, formalized through a Memorandum of Understanding (MoU), aims to provide accessible, affordable, and customized financial services to a broader spectrum of Maruti Suzuki customers.

Why in News?

The MoU was recently signed between MSIL and ESFB to strengthen Maruti Suzuki’s financing network across India, especially among diverse customer segments. This partnership comes at a time when access to finance is key to boosting vehicle sales, especially in tier-2 and tier-3 markets.

Partners Involved

• Maruti Suzuki India Limited (MSIL) – Leading car manufacturer.
• Equitas Small Finance Bank (ESFB) – One of India’s largest small finance banks.

MoU Signed by

• From MSIL: Partho Banerjee (Senior Executive Officer – Marketing & Sales) and Vishal Sharma (VP – Maruti Suzuki Finance)
• From ESFB: Jagadesh J (Head – Retail Assets)
• Date of Announcement: June 2025
• Location: New Delhi

Objectives & Offerings

Provide easy and affordable financing for,

• New cars
• Used cars
• Commercial vehicles
• Expand MSIL’s reach to underserved and diverse customer profiles
• Offer competitive interest rates, quick disbursals, and customer-friendly loan terms
• Promote financial inclusion in semi-urban and rural areas through Equitas’ network