Honda India partners with Punjab National Bank

Honda Motorcycle & Scooter India has signed a memorandum of understanding with Punjab National Bank to provide attractive retail finance to Honda’s two-wheeler customers across the country. This MOU was signed by S. S Bhatia, general maanager, retail assets division, PNB and Yadvinder Guleria, vice president, sales & marketing, HMSI.

The prospective customers can now buy a Honda two-wheeler at the industry's lowest finance rate of 12.25% and can also save up to Rs 10,000 on an average loan compared to open market schemes. The loan amount can go upto 90 per cent of the two-wheeler value. There are no processing and documentation fees required to be paid under this scheme. 

"This alliance is first of its kind in the two-wheeler industry - both for Honda and PNB. Propelled by this partnership with Punjab National Bank, we aim to grow Honda's retail finance significantly in coming months," said Y S Guleria, vice-president, sales & marketing, HMSI.