New Delhi, 16th June 2025: Maruti Suzuki India Limited (MSIL), today, announced the signing of an MoU (Memorandum of Understanding) with ESAF Small Finance Bank for collaboration in offering retail financing solutions for new cars, used cars, and commercial vehicles. Through this strategic alliance, the focus is on offering easy and flexible finance options tailored especially for first-time buyers. The partnership will leverage the combined network of Maruti Suzuki and ESAF Small Finance Bank across Tier 2 and Tier 3 cities, making vehicle ownership more accessible and convenient for a wider segment of customers.
The MoU was signed in the presence of Mr. Partho Banerjee, Senior Executive Officer, Marketing & Sales, and Mr. Vishal Sharma, Vice President, Maruti Suzuki Finance & Driving School, representing Maruti Suzuki India Limited; alongside Mr. K. Paul Thomas, MD & CEO, and other senior officials from ESAF Small Finance Bank.
Speaking on the partnership,Mr. Partho Banerjee, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited, said, “At Maruti Suzuki, we continuously strive to understand and address the evolving needs of our customers, particularly in providing accessible financing solutions. This strategic partnership with ESAF Small Finance Bank reinforces our commitment to make vehicle ownership more accessible, especially for first-time car buyers. Through this, we aim to further enhance financing options and flexible repayment solutions, ensuring that more Indian families can experience the joy of owning a Maruti Suzuki.”
Mr. K. Paul Thomas, MD & CEO, ESAF Small Finance Bank, stated, “We are delighted to partner with Maruti Suzuki India Limited in a collaboration that resonates deeply with our purpose-driven mission. At ESAF Small Finance Bank, we see finance as a means to empower lives and communities. This collaboration will help extend affordable and convenient mobility solutions to a wider customer base, particularly in underpenetrated regions. It is a step forward in our mission to promote inclusive development and sustainable progress for all.”
About Maruti Suzuki India Limited
Maruti Suzuki is India’s leading passenger car manufacturer with a vast network of 4000+ sales and 5000+ service outlets. An extensive product portfolio of 18 vehicles across different price ranges enables strong market presence, built on customer trust. Maruti Suzuki has an advanced Research and Development facility in Rohtak and multiple manufacturing facilities with production capacity of 23.5 lakh units per annum.
About ESAF Small Finance Bank:
ESAF Small Finance Bank began its operations in 2017 with a strong focus on promoting social and financial inclusion. The Bank serves the underserved and unserved—especially women, micro-entrepreneurs, and rural communities—through a community-centric approach that combines technology with deep local insights. As of March 2025, it operates 787 branches, 693 ATMs, and 1,106 Customer Service Centre’s across 24 states and two union territories.
