Car News in India

Auto major Nissan on Thursday signed an agreement with State Bank of India to help finance their prospective customers across regions.

The agreement will see Indian banking giant SBI offer probable consumers of Nissan, financing options with an interest rate up to 100 basis points lower than the current market rate, R N Mehra, Chief General Manager-Personal Banking of SBI, said in a statement.

SBI will now offer customers auto loans at 11.25 per cent (floating) and 11.75 per cent (fixed) to prospective customers of Nissan.

Nissan already has banking agreements with HDFC Bank, ICICI Bank and Kotak Mahindra Bank, Nissan Motor India Pvt Ltd Chief Finance Officer Sunil Reikhi said.

Nissan also has plans to make diesel cars in India by next year, Reikhi said.

The Japanese company already has a business partnership with French auto major Renault at Oragadam.