New Cars and Bikes in India

Honda 2Wheelers India Signs MoU With Pine Labs For Easy Financing

Under the new alliance between Honda and Pine Labs, 14 credit and six debit cardholders will benefit from the move that includes zero down payment, no documentation and waiting time, as well as zero hypothecation fee or NOC from the bank

Honda 2Wheelers India Signs MoU With Pine Labs For Easy Financing expand View Photos

Highlights

  • The MoU allows access to buyers with different credit & debit cards
  • Payment processing will be hasslefree and less documentation
  • The Pine Labs POS device will be available across Honda dealers pan India

Honda Motorcycle & Scooter India (HMSI) has signed a Memorandum of Understanding (MoU) with merchant commerce platform - Pine Labs to install POS machines across its dealerships pan India. The MoU will now provide a new purchase solution to debit and credit cardholders, by allowing convenient EMI options when purchasing a motorcycle or scooter. Under the new alliance, 14 credit and six debit cardholders will benefit from the move that includes zero down payment, no documentation and waiting time, as well as zero hypothecation fee or NOC from the bank, which is otherwise necessary when securing a loan from a financial institution for a vehicle. Quite the valentine's gift for Honda customers, which not only saves time and effort but processing fees as well. It also makes the two-wheelers easily attainable in the BS6 era that has already seen prices hiked across all models.

Speaking on the new association, Yadvinder Singh Guleria, Senior VP, Sales & Marketing, HMSI said, "With the industry moving towards BS6 era, two-wheeler prices are seeing upward revision of 10 per cent to 15 per cent. As a result, every second customer is now buying on retail finance. Adding another enabler, this partnership with Pine labs will simplify the buying journey of our customers. They can now avail instant EMI options at the point of purchase with zero down payment, zero waiting time for loan approval and instant delivery of their choice of two-wheeler besides no documentation requirements."

gojvle2

YS Guleria, Senior VP Sales & Marketing, HMSI with Kush Mehra, CBO & Venkat Paruchuri, CPO, Pine Labs at the signing of the MoU

Speaking on the partnership with HMSI, Venkat Paruchuri, Chief Product Officer, Pine Labs said, "We are extremely happy to partner with Honda Motorcycle and Scooter India to offer "2 wheeler EMI" to millions of Debit and Credit cards holders across a range of Issuers partners, on the Pine Labs POS machine. EMI on POS is an innovative technology-led financial offering that helps make the complex task of customer loan approval a quick and delightful digital experience and will enable Honda's dealers to reduce the time-lag between order and delivery. We believe that this partnership will offer speedy and convenient financing solutions to Honda's customer base in India."

Currently, two-wheeler buyers applying for a loan need to pay two main charges - down payment and hypothecation fee. There's also the no objection certificate that's needed after the completion of the loan from the bank and later pay and arrange for hypothecation removal at the Registration Authority. Honda says that every second two-wheeler customer now opts for retail finance and the new EMI on Pine Labs POS will cut down the time and documentation hassles. Moreover, it will allow customers to choose from multiple tenure options while opting for an EMI-based purchase.

Newsbeep
0 Comments

Furthermore, the Honda-Pine Labs association will allow SBI credit cardholders to avail a cashback of five per cent up to ₹ 4000 that is valid till February 29, 2020, on a minimum purchase of ₹ 40,000. 

For the latest auto news and reviews, follow carandbike.com on Twitter, Facebook, and subscribe to our YouTube channel.

You might be interested in

Honda CB Shine

Commuter, 65 Kmpl
Honda CB Shine
Ex-showroom Price
₹ 68,812
EMI Starts
₹ 2,269 11.5% / 3 yrs

Honda Activa 5G

Scooter, 45 Kmpl
Honda Activa 5G
Ex-showroom Price
₹ 54,632
EMI Starts
₹ 1,802 11.5% / 3 yrs

Honda CB Shine SP

Commuter, 65 Kmpl
Honda CB Shine SP
Ex-showroom Price
₹ 64,098
EMI Starts
₹ 2,114 11.5% / 3 yrs

Honda Hornet 2.0

Sports, 40 Kmpl
Honda Hornet 2.0
Ex-showroom Price
₹ 1.27 Lakh
EMI Starts
₹ 4,185 11.5% / 3 yrs

Honda Dio

Scooter, 55 Kmpl
Honda Dio
Ex-showroom Price
₹ 61,497
EMI Starts
₹ 2,028 11.5% / 3 yrs

Honda Activa 6G

Scooter, 45 Kmpl
Honda Activa 6G
Ex-showroom Price
₹ 65,419
EMI Starts
₹ 2,157 11.5% / 3 yrs

Honda SP 125

Commuter, 65 Kmpl
Honda SP 125
Ex-showroom Price
₹ 74,407
EMI Starts
₹ 2,454 11.5% / 3 yrs

Honda CB Unicorn 160

Commuter, 62 Kmpl
Honda CB Unicorn 160
Ex-showroom Price
₹ 94,548
EMI Starts
₹ 3,118 11.5% / 3 yrs

Honda Livo

Commuter, 74 Kmpl
Honda Livo
Ex-showroom Price
₹ 70,056
EMI Starts
₹ 2,310 11.5% / 3 yrs

Honda H Ness CB 350

Cruiser, 42 Kmpl
Honda H Ness CB 350
Ex-showroom Price
₹ 1.85 Lakh
EMI Starts
₹ 6,101 11.5% / 3 yrs

Honda CD 110 Dream

Commuter, 74 Kmpl
Honda CD 110 Dream
Ex-showroom Price
₹ 64,505
EMI Starts
₹ 2,127 11.5% / 3 yrs

Honda CB Unicorn 150

Commuter, 65 Kmpl
Honda CB Unicorn 150
Ex-showroom Price
₹ 78,815
EMI Starts
₹ 2,599 11.5% / 3 yrs

Honda X-Blade

Commuter, 45 Kmpl
Honda X-Blade
Ex-showroom Price
₹ 1.07 Lakh
EMI Starts
₹ 3,518 11.5% / 3 yrs

Honda Grazia

Scooter, 54 Kmpl
Honda Grazia
Ex-showroom Price
₹ 73,912
EMI Starts
₹ 2,437 11.5% / 3 yrs

Honda Aviator

Scooter, 49 Kmpl
Honda Aviator
Ex-showroom Price
₹ 55,832
EMI Starts
₹ 1,841 11.5% / 3 yrs

Honda Gold Wing

Cruiser, 14 Kmpl
Honda Gold Wing
Ex-showroom Price
₹ 27.79 Lakh
EMI Starts
₹ 91,644 11.5% / 3 yrs

Honda Activa 125 FI

Scooter, 45 Kmpl
Honda Activa 125 FI
Ex-showroom Price
₹ 68,997
EMI Starts
₹ 2,275 11.5% / 3 yrs

Honda Dream Yuga

Commuter, 72 Kmpl
Honda Dream Yuga
Ex-showroom Price
₹ 54,247
EMI Starts
₹ 1,789 11.5% / 3 yrs

Honda Dream Neo

Commuter, 74 Kmpl
Honda Dream Neo
Ex-showroom Price
₹ 52,299
EMI Starts
₹ 1,725 11.5% / 3 yrs

Honda CB 1000R

Sports, 16 Kmpl
Honda CB 1000R
Ex-showroom Price
₹ 13.38 Lakh
EMI Starts
₹ 44,125 11.5% / 3 yrs

Honda CBR 1000RR

Sports, 18 Kmpl
Honda CBR 1000RR
Ex-showroom Price
₹ 16.43 Lakh
EMI Starts
₹ 54,190 11.5% / 3 yrs

Honda CBR650R

Sports, 25 Kmpl
Honda CBR650R
Ex-showroom Price
₹ 7.7 Lakh
EMI Starts
₹ 25,392 11.5% / 3 yrs

Honda CB300R

Sports, 30.2 Kmpl
Honda CB300R
Ex-showroom Price
₹ 2.42 Lakh
EMI Starts
₹ 7,980 11.5% / 3 yrs

Honda Africa Twin

Off Road, 16 Kmpl
Honda Africa Twin
Ex-showroom Price
₹ 13.5 Lakh
EMI Starts
₹ 44,518 11.5% / 3 yrs

Honda CB1000R Plus

Sports, 18 Kmpl
Honda CB1000R Plus
Ex-showroom Price
₹ 14.47 Lakh
EMI Starts
₹ 47,705 11.5% / 3 yrs

Honda CRF1100L Africa Twin

Off Road, 20.4 - 20.8 Kmpl
Honda CRF1100L Africa Twin
Ex-showroom Price
₹ 15.35 Lakh
EMI Starts
₹ 50,618 11.5% / 3 yrs
Colors1
Colors1
Images10
Images10
Images2
Images2
Honda Hornet 20 Right Side Facing View
Honda Hornet 20 Right Side Facing View
Honda Hornet 20 Left Side Facing View
Honda Hornet 20 Left Side Facing View
Honda Hornet 20 Rearview
Honda Hornet 20 Rearview
Honda Activa 6g 3 Step Rear Adjustable Suspension
Honda Activa 6g 3 Step Rear Adjustable Suspension
Honda Activa 6g 12inch Alloy Wheels
Honda Activa 6g 12inch Alloy Wheels
Honda Activa 6g Alloy Wheels
Honda Activa 6g Alloy Wheels
Sp 125 Digital
Sp 125 Digital
Sp 125 Passlight
Sp 125 Passlight
Sp 125 Suspension
Sp 125 Suspension
2018 Honda Cb Hornet 160r Front
2018 Honda Cb Hornet 160r Front
2018 Honda Cb Hornet 160r Rear Profile
2018 Honda Cb Hornet 160r Rear Profile
Sports Red
Sports Red
Honda Livo Tail Light
Honda Livo Tail Light
Honda Livo Speedometer
Honda Livo Speedometer
Honda Livo Killswitch
Honda Livo Killswitch
Honda Hness Cb 350 Tank
Honda Hness Cb 350 Tank
Honda Hness Cb 350 Engine
Honda Hness Cb 350 Engine
Honda Hness Cb 350 Headlight And Tail Light
Honda Hness Cb 350 Headlight And Tail Light
Honda Cd 110 Silent Start With Acg
Honda Cd 110 Silent Start With Acg
Honda Cd 110 Start Stop Switch
Honda Cd 110 Start Stop Switch
Honda Cd 110 Passing Switch
Honda Cd 110 Passing Switch
Honda X Blade Robo Face Led Headlamp
Honda X Blade Robo Face Led Headlamp
Honda X Blade Hazard Switch
Honda X Blade Hazard Switch
Honda X Blade Low Maintenance Seal Chain
Honda X Blade Low Maintenance Seal Chain
Honda Grazia Digital Display
Honda Grazia Digital Display
Honda Grazia Engine
Honda Grazia Engine
Honda Grazia Fuel Lid
Honda Grazia Fuel Lid
Be the first one to comment
Thanks for the comments.