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Axis Bank ties up with Hyundai Motor India for auto retail financing

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MUMBAI: Private sector lender Axis Bank on Wednesday mentioned it has tied up with Korean automotive maker Hyundai Motor India for auto retail financing.

Axis Bank by means of this partnership will enable Hyundai Motor India Ltd (HMIL) prospects to get auto mortgage sanctioned immediately on the automotive maker’s end-to-end on-line retail platform ‘Click to Buy’ (CTB), a launch mentioned.

This tie-up will allow prospects primarily based out of each city and rural markets to avail automotive financing on-line in the best method, the Bank mentioned.

The auto loans trade is now taking a look at a paradigm shift in offering prospects a unified native journey proper from automotive analysis to on-line reserving, on-line mortgage sanction to closing all formalities and getting the automotive delivered at their doorstep, it mentioned.

“We are delighted to partner with Hyundai Motors and make online financing a quick and hassle-free process for all customers. In the current pandemic situation, this initiative will ensure that customised finance products are digitally available to all customers,” mentioned Sumit Bali, President and Head of Retail Lending and Payments at Axis Bank.

To reinforce its dedication in the direction of seamless digitisation, the Bank has ensured that prospects can now get pre-approved loans immediately, he mentioned.

“Our partnership with Axis Bank will initiate a new beginning for the customers with the lucrative and attractive online finance deals available on the platform,” mentioned W S Oh, Executive Director for Corporate Planning at Hyundai Motor India.

Since the launch of ‘Click to Buy’, in June final 12 months, HMIL has acquired over seven million guests and recorded over 47,000 registrations, he mentioned.

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