Yamaha, Syndicate Bank tie up

Mumbai: Yamaha Motor India, in yet another strategic move, has announced a tie-up with Syndicate Bank. The pact between the auto major and Syndicate Bank will offer excellent two-wheeler loan schemes for Yamaha's potential customers across India. With one of the lowest interest rate in the market of 9.5 per cent, the alliance is bound to create a stir in the two-wheeler finance market.

Syndicate Bank enjoys a 2,000-strong branch network spread across the far ends of the country. This alliance will enable Yamaha Motor India, with 450 dealerships in India, to expand their reach and deepen their penetration of the two-wheeler segment market. Says Yamaha Motor India marketing vice-president R R Prasad: "The USP [unique selling point] of these loan schemes is easy-and-quick finance, because we want to give our customers the best experience, not only while riding our motorbikes, but also when buying them."

Yamaha Motor already enjoys leadership in the rural and mini-metro segment, with a wide array of product offerings. Through this strategic tie-up, the company seeks to strengthen its position across all two-wheeler segments and focus on a major retail expansion drive.

Syndicate Bank has identified diversifying into two-wheeler finance as a major focal point for increasing their consumer base and offering consumer friendly services to explore newer markets. To begin with, the preferential loan schemes will be available in Karnataka, and will stretch across the rest of the country later.