HDB Financial Services reached agreement
Has partnered with HDB Financial Services honda motorcycle & Scooter India will strengthen financing of two-wheelers across India. The tie-up focuses on improving credit access and reducing loan approval time at dealerships. Two-wheelers remain a major mobility option for many buyers. Therefore, quick and simple financing can directly influence purchasing decisions, especially in growing markets.
HDB to act as preferred financing partner for Honda
Under the agreement, HDB Financial Services will serve as the preferred financing partner for Honda scooters and motorcycles. The partnership aims to streamline loan processing at the point of sale. As a result, customers can complete financing formalities with less waiting time during vehicle purchase.
“This partnership allows us to strengthen our presence in India’s fast-growing two-wheeler sector and provide customers with faster and simpler financing solutions,” said Karthik Srinivasan, Chief Business Officer, HDB Financial Services.
Strong focus on Tier 2, Tier 3 and rural markets
HDB Financial Services operates a network of over 1,700 branches across India. Additionally, the company has a strong presence in Tier 2, Tier 3 and Tier 4 markets. This wider reach will help Honda expand deeper into semi-urban and rural areas. Therefore, buyers in these regions can get easy access to structured two-wheeler financing options.
“This collaboration will help create seamless financing solutions for the diverse customer base across India,” said Yogesh Mathur, Director Sales and Marketing, Honda Motorcycle & Scooter India.
Expected impact on dealers and financial development
This tie-up is expected to help increase retail conversion rates Honda Dealership. In addition, Honda also hopes to establish a better financing ecosystem with reliable financing partners. HDB Financial Services, on the other hand, is expected to strengthen its presence in the vehicle financing business.
Before you go and check Honda Shine 125 Limited Edition listed online, launch in India soon.
