Mercedes-Benz Collaborates with SBI to Reach Potential HNI Buyers from Bank’s Customer Database

Marketing | November 25, 2020 | News

Mercedes-Benz India SBI

Luxury car-maker Mercedes-Benz has partnered with the State Bank of India to offer financial benefits on owning a Mercedes-Benz. The collaboration will give Mercedes-Benz access to the market penetration of SBI’s high net worth individual (HNI) customer base, while the bank’s customers will receive benefits while booking Mercedes-Benz products.

The collaboration will offer an attractive rate of interest and additional benefits worth Rs 25,000 to customers who book a Mercedes-Benz vehicle through its icon displayed on SBI’s digital platform Yonoup to December 31, 2020.

The State Bank of India auto loan team will look after all the requirements to deliver services to Mercedes-Benz customers through their online and offline portals. Customers can book Mercedes-Benz cars online through the Yono online marketplace and get in-principle sanction of car loan, if eligible.

Commenting on the partnership, Martin Schwenk, Managing Director & CEO, Mercedes-Benz India said, “Mercedes-Benz has been constantly exploring new avenues to reach out to a potential customer base and this is the first time we are collaborating with any bank. The collaboration with SBI gives us an exciting opportunity to expand our customer base and reach out to potential HNI customers of the bank with our products and services. We are confident that customers of India’s largest bank will be highly excited with the seamless online journey we have created through our e-commerce portal, and avail subsequent benefits from this collaboration.”

C S Setty, Managing Director (Retail & Digital Banking), SBI said, “We are glad to be associated with Mercedes-Benz to offer a rewarding experience to our customers as they own their favourite Mercedes car. With attractive interest rates and customized benefits including a smart digital option of booking a Mercedes on Yono, we look forward to witness our HNI customers live through a unique journey of getting home the car,in sync with their lifestyles. We at SBI are optimistic that our customers will make the most of this offering.”

SBI and Mercedes-Benz plan to promote the partnership over online and offline channels, including branches and dealerships, in order to reach the maximum number of customers.

The collaboration will give Mercedes-Benz access to the market penetration of SBI’s HNI customer base, while the bank’s customers will receive benefits while booking the luxury vehicles.

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