Hero Honda inks financing deal with PNB

Hero Honda Motors has tied up with Punjab National Bank (PNB) to provide cheaper finance products to its customers.

According to the deal, PNB will offer loans to Hero Honda's customers at the rate of 11 per cent for one year and at 15 per cent for a duration of five years, SS Kohli, chairman and managing director, PNB, said at a press conference here.

The loan facility with long repayment period and low interest rates would initially be available in Punjab and Haryana. It will later be extended to other parts of the country, he said.