Mercedes-Benz India and SBI tie-up to offer financial benefits
Mercedes-Benz India has tied up with the State Bank of India of India to tap into the public-sector bank's large crop of High Net-worth Individual(HNI) customers. When financing the purchase of a Mercedes-Benz car through SBI, these customers will be eligible for numerous benefits. This offer will be available to SBI's HNI customers across all 17 of its circles.
SBI will offer a more competitive interest rate for a loan of tenure between 2 to 5 years and there will be benefits on the processing fees too. There will also be online and offline benefits from the bank for customers during the purchase of a Mercedes-Benz vehicle. Further, customers will also be able to use SBI's YONO platform for online booking of Mercedes-Benz cars. These customers will get an additional benefit of Rs 25,000 and an in-principle loan sanction up to December 31, 2020. Customers need to produce an online booking confirmation and the SBI loan sanction letter at the dealership to claim these benefits.
Martin Schwenk, MD and CEO of Mercedes-Benz India said of this development, "Mercedes-Benz has been constantly exploring new avenues to reach out to potential customer base and this is the first time we are collaborating with any bank. The collaboration with SBI gives us an exciting opportunity to expand our customer base and reach out to the potential HNI customers of the bank with our products and services. We are confident the customers of India's Largest Bank will be highly excited with the seamless online journey we have created through our e-commerce portal, and avail subsequent benefits from this collaboration."