Piaggio Vehicles, a 100 percent subsidiary of the Italian Piaggio Group and India’s leading manufacturer of small commercial vehicles, Thursday extended the arrangement with J&K Bank to provide the latest financial schemes to its customers.
“This strategic tie-up will provide employment opportunitiesacross the state of Jammu and Kashmir,” a spokesperson of the Piaggio said.
Under the arrangement both the companies will be workingtowards providing retail finance solutions for Piaggio’s entire range of cargoand passenger vehicles to facilitate the purchase of small commercial vehicles,he said.
“With this association J&K Bank will fund 90 percent ofthe on-road price of the vehicle. Withthis the customer can get the vehicle by paying down payment as low as Rs 24,999. Along with this the EMI will commence only after four months from the dateof disbursement,” said the spokesperson. “The customers will also be eligiblefor Piaggio’s Super Warranty, which extends the warranty for Diesel vehicles to42 months and for alternate fuels (Petrol, CNG, and LPG) to 36 months.”
Rakesh Gandotra, President for Finance, Strategy and IT ofJ&K Bank, said “We are proud to associate ourselves with Piaggio which is awell-known international company. Piaggio and we both believe in providing thehighest level of customer service to our customers. With this association wewill be able to offer various schemes in the retail banking domain to Piaggiocustomers which will make Piaggio products very affordable.”
Speaking on the occasion, Malind Kapur, Sr.VP of Marketing,Piaggio said, “We are delighted to strengthen our relationship with J&KBank which has one of the largest penetration of branches in J&K. Thisassociation will enhance the ease of finance for our customers thereby making Piaggio range of productsfurther more accessible to them.”