Ashok Leyland & ESAF Partner for Vehicle Financing

Chennai, Jan 22 (PTI) Hinduja Group's flagship company, Ashok Leyland, signed a Memorandum of Understanding with ESAF Small Finance Bank to offer financing solutions to its customers, the city-headquartered company said on Wednesday.

The partnership between the two entities aims to meet customer needs by providing vehicle loans with tailored monthly repayment plans.

ESAF Small Finance Bank will offer end-to-end financial solutions to Ashok Leyland's customers.

Ashok Leyland head of LCV Business, Viplav Shah, signed the MoU with ESAF Small Finance Bank's Business head for General Loans and Mobility Loans, George Oommen, in the presence of Ashok Leyland president of LCV, PSB, and Defence, Amandeep Singh, a company statement said.

"At Ashok Leyland, we are dedicated to continuously enhancing our customers' experience and delivering greater value. With the combined strength of ESAF Small Finance Bank and Ashok Leyland, our customers will now have access to comprehensive financing solutions with specially curated easy repayment plans," Singh said.

Ashok Leyland offers a wide range of trucks and buses, including intercity light commercial vehicles, long-haul trucks, and various buses.

"We are delighted to join forces with Ashok Leyland to provide commercial vehicle owners access to seamless financing solutions customised to their needs. This partnership allows us to extend our commitment to financial inclusion by supporting commercial vehicle customers with accessible and tailored financing options," Oommen said.

ESAF Small Finance Bank has 756 banking outlets, 8,834 customer touchpoints, and a network of 646 ATMs across 24 states and two union territories, the statement added.