ICICI Bank partners with IndoStar Capital to finance commercial vehicles
CHENNAI: ICICI Bank has announced its association with a non-bank financial institution. IndoStar Capital Finance Ltd (IndoStar) will finance small and medium fleet owners to buy new and used ones. Commercial Vehicles .
Under this partnership, IndoStar will originate and give service to customers through all the loan life-cycle, including sourcing, documentation, collection and loan servicing.
ICICI Bank will provide funding to these customers, who have so far only limited access to organised credit. IndoStar, which has developed a niche in financing used Commercial Vehicles , will originate customers in tier-II, III and IV cities where it has a presence. These cities include centres like Coimbatore, Salem, Tirunelveli, Kurnool, Calicut, Thiruvananthapuram, Jabalpur, Bhopal, Ahmedabad, Rajkot, Jodhpur, Alwar and Meerut.
the NBFC It has 322 branches.