Ashok Leyland and ESAF Small Finance Bank have partnered to offer customised vehicle financing solutions for Ashok Leyland customers. The agreement aims to provide accessible and tailored loan options, enhancing customer experience and promoting financial inclusion. The partnership was formalised with a Memorandum of Understanding (MoU) signed by representatives of both organisations.

This collaboration brings together Ashok Leyland's expertise in commercial vehicle manufacturing and ESAF Small Finance Bank's focus on providing financial solutions. The partnership will facilitate convenient monthly repayment plans suited to individual customer preferences. The signing ceremony included Viplav Shah, Head - LCV Business, Ashok Leyland; George Oommen, Business Head – General Loans & Mobility Loans, ESAF Small Finance Bank; and Amandeep Singh, President- LCV, IO, PSB & Defence, Ashok Leyland.

A step towards easier financing opportunities

The primary goal is to simplify vehicle financing for Ashok Leyland customers, making ownership more accessible. ESAF Small Finance Bank will manage the entire financing process, from application to disbursement. The initiative underlines both organizations' commitment to customer satisfaction and growth. This strategic partnership will focus on providing end-to-end financial solutions for Ashok Leyland customers.

“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,” said Amandeep Singh, President- LCV, IO, PSB & Defence, Ashok Leyland.

To strengthen Ashok Leyland's CV market position

This partnership is expected to strengthen Ashok Leyland's position in the commercial vehicle market. It aligns with Ashok Leyland's broader strategy of offering comprehensive solutions beyond just vehicle manufacturing. The simplified financing process should attract more customers, particularly in the light commercial vehicle segment.

“Ashok Leyland Light Commercial Vehicle Business is delighted to partner with ESAF Small Finance Bank to provide attractive financing solutions to our customers. This strategic partnership will strengthen Ashok Leyland's market position. Driven by innovative technology, our products offer an unmatched total cost of ownership, ensuring optimal profitability for our customers. We are steadfast in our commitment to delivering exceptional experiences that exceed customer expectations,” said Viplav Shah, Head-LCV Business, Ashok Leyland.

ESAF Small Finance Bank views this partnership as an opportunity to further its mission of financial inclusion. By providing tailored financial products, the bank aims to support small businesses and entrepreneurs. The collaboration is also expected to contribute to economic growth and community development.

“We are delighted to join forces with Ashok Leyland to provide commercial vehicle owners access to seamless financing solutions customized to their needs. At ESAF Small Finance Bank, our mission has always been to empower businesses and individuals with financial solutions that drive growth and prosperity. This partnership with Ashok Leyland allows us to extend our commitment to financial inclusion by supporting commercial vehicle customers with accessible and customized financing options. Together, we aim to enable entrepreneurs and businesses to achieve their goals while contributing to economic growth and community development,” said George Oommen -- Business Head – General Loans & Mobility Loans, ESAF Small Finance Bank.