State Bank of Travancore, Maruti tie up for car financing
By Our Banking Bureau | 31 Jul 2003
Thiruvananthapuram: Continuing its alliance with the associate banks of State Bank of India (SBI), Maruti Udyog, India's leading carmaker, has entered into a tie-up with State Bank of Travancore (SBT) to offer car finance in the southern states of Kerala and Tamil Nadu. The two partners will also utilise each other's existing customer base and outlets to cross-sell Maruti vehicles and SBT car loans.
Since March 2003, Maruti has sold over 10,000 vehicles through SBI-Maruti Finance, which is currently available in 165 cities across India. The tie-up with SBT will broad-base the reach of car finance facility for Maruti cars, especially in the two southern states.
Maruti had earlier signed similar agreements with SBI associate banks like State Bank of Mysore and State Bank of Indore.