Are you an SBI customer? And were you planning to purchase a luxury car? If yes, then this development can come in handy for you. India’s largest luxury carmaker – Mercedes-Benz – has joined forces with the country’s largest bank to offer certain individuals benefits on a new car purchase until December 31, 2020. Certain? Yes. Those who, as per the bank, fall in the HNI category. That stands for High Networth Individuals.

What are the benefits? One of them is “attractive” rate of interest on auto loans with tenure between 2 and 5 years. Another one is discounts on processing fees. Now, these offers are available for both offline and online customers. However, those who book a Mercedes-Benz via the bank’s YONO platform, they will get an additional benefit of Rs 25,000. All they need to do is produce the online booking confirmation and SBI loan sanction letter at the dealership.

Here’s what Martin Schwenk, who is the managing director and CEO at Mercedes-Benz India, said in an official statement:

Mercedes-Benz has been constantly exploring new avenues to reach out to 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 the potential HNI customers of the bank with our products and services. We are confident the 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, who is the managing director (retail & digital banking) at SBI, said about this tie-up:

With attractive interest rates and customized benefits including a smart digital option of booking the Mercedes on YONO, we look forward to witness our HNI customers live through a unique journey of getting home the car synchronizing with their lifestyles.

In the past couple of months, Mercedes-Benz India has launched three new models – the GLE 53 Coupe, the EQC and the GLC 43 Coupe. The GLE 53 Coupe became the first ’53 Series’ AMG model, whereas the EQC claimed the title of India’s first luxury electric vehicle. As for the GLC 43 Coupe, that became the first locally-assembled AMG.