5 private banks to finance “Hector SUV”

5 private banks to finance “Hector SUV”

New Delhi: MG Motor India is going to launch its first Hector SUV in the second quarter of 2019.

To facilitate its customers and dealers the company has tied up with five leading private banks to offer vehicle loans.

Companies ties up with Bank

The company said that it has signed agreements with Axis Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank and Yes Bank. “This is in addition to the MoU signed with India’s leading public sector lender State Bank of India by the company earlier this week.” The company said in its statement that “Through these partnerships, MG Motor India will offer term loans to its customers while also facilitating inventory funding and access to credit solutions for its dealerships,”

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MG Motor launch

The company plans to launch its first SUV “the Hector SUV” in first half of this year. The car maker said it plans to operate 110 sales and service touch points across India ahead of the launch and is working to provide financial packages to meet requirements of customers.

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