The third largest private lender, Axis bank, has entered into an agreement with carmaker Honda Siel to offer finance to its dealers and customers for its vehicles at attractive rates.

Honda Siel Cars, Director (India), Marketing, T Natsume, said, "Honda Siel and Axis Bank will pool their resources together to make accessible organised finance at competitive rates to our dealers and customers across the country for the purchase of Honda cars."

As per the agreement, the bank has approved credit for financing the dealers of Honda Siel for inventory funding and retail financing of auto loans.

The facility would be available in 938 branches across 583 cities throughout the country. The move by bank aims at scaling up its vehicle financing and gaining significant market share in the near term.

Honda Siel Cars India has a dealership network across 66 cities in the country.

Amidst revival in economic activities, the bank has seen an improvement in its credit growth in the third quarter of the current fiscal. Its credit offtake has been above the industry average.