New Delhi, 05 January 2024: Renault India Pvt Ltd. (RIPL), the European car brand in India, has partnered with Bajaj Finance Ltd., the lending arm of Bajaj Finserv Ltd., one of the country’s leading and diversified financial services groups, to offer attractive and affordable finance solutions for its customers. The partnership will help Renault customers avail exciting car finance schemes with low rate of interest and hassle-free quick sanction of loans on purchase of Kwid, Triber and Kiger.
Under this partnership, Bajaj Finance Limited will provide Renault customers with customised retail finance schemes – with the introduction of Flexi Pay Scheme, digital-first experience, including up to 100% on-road funding, with turnaround time of 30 minutes through their STP Process and attractive ROI which is best in the industry. To ensure even greater convenience, the entire financing process will be enabled through a digital customer journey for loan disbursement process.
On this occasion, Mr. Sudhir Malhotra, Vice President of Sales and Marketing at Renault India Private Limited (RIPL), said: "Renault India remains committed to provide unparalleled services and convenience to its esteemed customers. At Renault we are happy to announce our strategic collaboration with Bajaj Finance that opens up new array of schemes and choices for Renault car buyers. This will pave the way for affordable and accessible personal mobility solutions, catering to a diverse and valued customer base. This strategic alliance will undoubtedly elevate overall convenience and ownership experience of our valued customers.
Siddhartha Bhatt, Chief Business Officer, Bajaj Finance, added “Our digital-first approach and affordable solutions (Flexi Loans) enable us to make car buying incredibly easy and affordable for our customers. Our straight-through process is aimed at improving convenience and the speed of loan disbursement. We are delighted to join hands with Renault India to provide hassle-free and flexible financing solutions to customers for owning a Renault vehicle in a convenient manner.”
Renault India and Bajaj Finance are confident that this collaboration will strengthen their position in the market and reaffirm their shared mission of providing outstanding auto financing solutions to customers. Bajaj Finance is a technology driven NBFC, offering a comprehensive suite of financial solutions and focused on enhancing customer experience digitally.
About Renault India Ltd.
Renault, a historic mobility brand and pioneer of electric vehicles in Europe, has always developed innovative vehicles. With the ‘Renaulution’ strategic plan, Renault has embarked on an ambitious, value-generating transformation moving towards a more competitive, balanced and electrified range. Its ambition is to embody modernity and innovation in technology, energy and mobility services in the automotive industry and beyond. Renault India Pvt. Ltd. is a fully owned subsidiary of Renault S.A.S. France. Renault India cars are manufactured in the manufacturing facility located in Oragadam, Chennai, with a capacity of 480,000 units per annum. Renault India also has a widespread presence of close to 500 sales and 530 service touchpoints, which include 250+ Workshop on Wheels locations across the country, with benchmark sales and service quality.
About Bajaj Finance Limited
Bajaj Finance Ltd. (‘BFL’, ‘Bajaj Finance’, or ‘the Company’), a subsidiary of Bajaj Finserv Ltd., is a deposit-taking Non-Banking Financial Company (NBFC-D) registered with the Reserve Bank of India (RBI) and is classified as an NBFC-Investment and Credit Company (NBFC-ICC). Under the scale-based regulations for NBFCs, BFL has been classified as NBFC-UL (upper layer) by the RBI. BFL is engaged in the business of lending and acceptance of deposits. It has a diversified lending portfolio across retail, SMEs, and commercial customers with significant presence in both urban and rural India. It accepts public and corporate deposits and offers a variety of financial services products to its customers. BFL, a thirty-six-year-old enterprise, has now become a leading player in the NBFC sector in India and on a consolidated basis, it has a franchise of 76.56 million customers as of 30 September 2023. BFL has the highest domestic credit rating of AAA/Stable for long-term borrowing, A1+ for short-term borrowing, and CRISIL and ICRA AAA/Stable and similar rating method is followed for other long term and short-term rating. It has a long-term issuer credit rating of BBB-/Stable a and a short-term rating of A-3 by S&P Global ratings. To know more, visit www.bajajfinserv.in/