Hyundai Ties Up With ICICI Bank To Offer New Finance Options

ICICI Bank is offering up to 100 per cent on-road funding to customers

• After tying up with HDFC Bank, Hyundai has now partnered with ICICI Bank to offer new finance options to customers.

• Like the former, the carmaker will offer these options via its online sales platform.

• Through this partnership, customers can opt for loans and get the requisite funding to buy their preferred Hyundai car.

• ICICI Bank will also offer up to 100 per cent on-road funding.

• Hyundai to offer faster approval of loans for pre-approved customers on this platform.

Here’s what the carmaker has to say:

Hyundai Signs MoU with ICICI Bank to Offer Online Car Finance to Customers Through ‘Click to Buy’

New Delhi, June 22, 2020: Hyundai Motor India Limited (HMIL), country’s first smart mobility solutions provider and largest exporter since inception, today signed an MoU with ICICI Bank to offer customised online auto retail financing solutions to customers across India. The partnership has strengthened ‘Click to Buy’- HMIL’s online car buying platform as India’s First Online Automotive Retail channel that offers a complete end-to-end car buying experience. 

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Under the said partnership, ICICI Bank has integrated its finance solutions online with HMIL’s ‘Click to Buy’. Through the partnership, Hyundai will enable customers to avail an end-to-end composite online solution for car buying along with the required funding to purchase their favourite Hyundai car.  With this, millions of pre-approved customers of ICICI Bank, can directly apply for a car loan through ‘Click to Buy’ website itself and procure an instant loan sanction without having to physically visit the branch. In addition to these services, ICICI Bank also offers up to 100% on-road funding.

Commenting on the partnership, W S Oh, Executive Director of Corporate Planning, Hyundai Motor India, said, “Hyundai has been bringing customer delight through its products and solutions. With Click to Buy, Hyundai has offered customers the first ever end-to-end online car buying portal that is a one stop solution to customer needs. Through our partnership with ICICI Bank, we will fortify customer purchase journeys from any remote location and enable real-time transactions with the most productive finance deals.”

Speaking on the partnership, Ravi Narayanan, Head of Secured Assets, ICICI Bank said, “We are delighted to join hands with Hyundai Motor India Ltd. to offer an array of online finance solutions for customers looking to buy new Hyundai cars. The online integration with HMIL enables pre-approved customers of ICICI Bank to apply for a car loan and procure an instant sanction of the loan through the ‘Click to Buy’ website. With this partnership, we believe that the customers will have a convenient and hassle-free experience of buying Hyundai cars with finance from us.”

In other news, the second-gen Creta has bagged over 30,000 bookings since its launch in March. Hyundai claims that the Creta’s diesel variants account for 55 per cent of the total bookings. You can read more about it here.