Honda Siel ties-up with PNB for car financing

Honda tied-up with Punjab National Bank, a public sector bank, for finance its car as a part of its plan to expand its presence in smaller cities in the country. By this tie-up, working capital requirements of its dealers would be fulfilled. According to the plan,the bank will offer car loans up to 90 per cent of on-road cost for tenure ranging up to seven years at interest rates of 10.5-11 per cent. Asked whether the company will tie-up with other PSU banks, he said initially the company is focusing on tie-up with the PNB but options are open as PSU banks have a vast network in the country.

Read More on : Honda City detailed review