Hyderabad, Oct 27 (UNI) Hero Honda Motors Limited today entered into an agreement with Andhra Bank, the largest bank of Andhra Pradesh, for financing their two wheelers particularly in the rural areas.
Hero Honda Motors Limited Zonal Head (South) S V Shetty here said this tie up would benefit many aspirants of two wheeler buyers and also cater to the needs of the farmers.
This tie up would enable farmers, salaried employees and institutional customers to avail loan for the purchasing of Hero Honda two wheelers, he said.
Under the scheme, buyers could avail loan upto 90 per cent of the on road price subject to terms and conditions, he added.
He said Hero Honda Motors had a network of 51 dealerships and over 280 customer touch points in Andhra Pradesh.
Even under the challending times of financial crisis and higher inflation, Hero Honda had been able to register double digit growth and a superior market share of 66 per cent for the first half of the financial year, ending September 2008, he said.
This was possible due to Hero Honda's commitment to provide reliable and excellent quality products and customer centric initiatives, he added.
Andhra Bank General Manger Rakesh Sethi said the tie up should go a long way not only in benefiting the buyers, but also enabling both Andhra Bank and Hero Honda to penetrate further in the market and consolidate the leadership position.
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