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German-based luxury automaker, Mercedes-Benz, have announced a first-of-its-kind collaboration with India's largest financial institution, the State Bank of India, to offer attractive financial benefits, on owning a Mercedes-Benz.
According to the company's statement, the collaboration will give Mercedes-Benz access to the unparalleled market penetration of SBI's (HNI) High Networth Income customer base. In return, SBI customers will enjoy exclusive benefits while booking their Mercedes-Benz luxury car.
The partnership between both brands guarantees a host of financial benefits for SBI customers for making the purchase decision. This includes an attractive rate of interest on four-wheeler loans and additional benefits exclusively for SBI YONO customers. Now, SBI Bank customers using YONO mobile application can find an icon displayed on the app to book Mercedes-Benz cars.
The State Bank of India has also announced that their auto loan teams have geared up to cater to all the requirements, and deliver the best services to all Mercedes-Benz customers. They can book Mercedes-Benz car online through YONO Online Marketplace and get the in-principle sanction of Car Loan, if eligible, immediately.
All customers booking a Mercedes-Benz car online through YONO will receive an additional benefit of Rs 25,000 at Mercedes Benz dealership. To avail additional benefits, customers need to produce online booking confirmation and SBI loan sanction letter at the dealership.
Commenting on the partnership, Martin Schwenk, Managing Director & CEO, Mercedes-Benz India said, "Mercedes-Benz has been constantly exploring new avenues to reach out to potential customer base and this is the first time we are collaborating with any bank. The collaboration with SBI gives us an exciting opportunity to expand our customer base and reach out to the potential HNI customers of the bank with our products and services.
We are confident the customers of India's Largest Bank will be highly excited with the seamless online journey we have created through our e-commerce portal, and avail subsequent benefits from this collaboration."
C S Setty, Managing Director (Retail & Digital Banking), SBI said, "We are glad to be associated with Mercedes-Benz to offer a rewarding experience to our customers while owning their favourite Mercedes car. With attractive interest rates and customized benefits including a smart digital option of booking the Mercedes on YONO, we look forward to witnessing our HNI customers live through a unique journey of getting home the car synchronizing with their lifestyles. We at SBI are optimistic that our customers will make the most of this advantageous offering amid the festive season."
Thoughts About The Mercedes-Benz Partners With SBI To Announce Car Finance Options
Mercedes-Benz has embarked on a new initiative in the Indian market by tieing up SBI, which has an exhaustive customer base. The partnership will help generate enquiries, provide online booking facility and attractive benefits as well. The partnership will make use of online and offline sources to extend its marketing reach, which will help attract more customers.