VinFast is proud to announce the signing of a Memorandum of Understanding (MoU) with the State Bank of India (SBI), the country’s largest bank, to offer vehicle loan packages to individual customers through its exclusive dealership network.
This agreement aims to provide comprehensive and seamless financial solutions to customers ahead of the official launch of VinFast products in India.
As per the agreement, customers will have access to flexible financial solutions, including attractive interest rates, convenient installment options, financial support of up to 100% of the on-road price, exclusive benefits, and priority services for the entire VinFast product portfolio. Dedicated representatives from SBI will be present at all VinFast showrooms to provide direct support, making it easier and more convenient for a wide range of Indian consumers to own electric vehicles.
This collaboration allows VinFast to leverage SBI’s network of nearly 23,000 branches across India to reach customers in urban and emerging markets. It also aligns with VinFast’s long-term goal of promoting sustainable mobility in India, one of the fastest-growing electric vehicle markets globally.
The agreement underscores VinFast’s commitment to simplifying electric vehicle ownership for Indian customers. By offering competitive loan packages and convenient support services, VinFast aims to provide more consumers with the opportunity to experience electric vehicles as green transportation becomes an integral part of the country’s future mobility landscape.
The Memorandum of Understanding was signed by Mr. Pham Sanh Chau, VinFast Asia’s CEO, and Mr. Ajay Kumar Jha, Managing Director – Retail Credit, State Bank of India.
“Partnering with India’s largest and most reputable state-owned bank is a significant step in building a strong foundation for VinFast’s growth in India,” said Mr. Pham Sanh Chau, CEO of VinFast Asia. “SBI’s extensive reach and superior reputation, coupled with VinFast’s premium electric vehicle range, will make our products even more accessible to customers in both urban and rural areas. This collaboration not only offers convenient and competitive financial solutions but also expands our brand presence among a wider consumer base, creating a seamless and complete electric vehicle ownership journey.”
“As the electric vehicle trend accelerates, access to finance will play a pivotal role in this transition,” said Mr. G. S. Rana, Deputy Managing Director, Retail & Digital Banking, State Bank of India. “Our collaboration with VinFast not only facilitates convenient credit options for their premium electric vehicle range but also underscores the State Bank of India’s commitment to achieving a 7.5% green portfolio by 2030. With over INR 128 billion mobilized from green deposits for electric vehicle lending in the fiscal year 2025, we believe that partnerships such as this will act as a significant catalyst to propel India towards sustainable mobility.”
With VinFast gearing up to launch the VF 6 and VF 7 models, this agreement reinforces the company’s customer-centric efforts to establish a strong foundation in India. Previously, VinFast also inaugurated its electric vehicle assembly plant in Tamil Nadu, marking a significant milestone in its long-term development strategy for this market.
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