VinFast and CSB Bank Partner to Offer 100% On-Road Financing for VF 6 and VF 7 SUVs in India

VinFast Auto India and CSB Bank have signed a Memorandum of Understanding (MoU) to provide up to 100% on-road financing for VinFast's VF 6 and VF 7 electric SUVs. The agreement, announced on March 24, 2026, also covers inventory financing for VinFast dealers across India. This partnership aims to make electric vehicle (EV) ownership more accessible by addressing upfront costs and limited financing options.

Key Highlights

• VinFast and CSB Bank sign MoU for up to 100 percent on-road financing for VF 6 and VF 7
• CSB Bank to provide inventory financing and station relationship managers at VinFast dealerships
• VinFast extends free charging and introduces buyback and resale value programs for Indian customers
• Trade Gas for Electric promotion offers incentives for petrol vehicle trade-ins across four countries

Details of the Financing Partnership

Under the MoU, retail customers can access full on-road funding, competitive interest rates, and flexible repayment schedules for the VF 6 and VF 7 models. CSB Bank will station relationship managers at VinFast dealerships to assist with loan applications and disbursements. This initiative is designed to simplify the buying process at the point of sale.

CSB Bank's network of 855 branches will extend the financing offer to multiple markets, including areas with historically low EV penetration. The MoU was signed by Tapan Ghosh, CEO of VinFast India, and Narendra Dixit, Head of Retail Banking at CSB Bank, during an event in Gurugram. Ghosh emphasized that the collaboration supports VinFast's goal of making EV ownership practical and affordable in India. Dixit noted that the partnership supports both customers and dealers as EV adoption becomes mainstream.

VinFast's Broader EV Strategy in India

VinFast currently offers two electric SUVs in India, the VF 6 and VF 7, both of which have earned 5-star Bharat NCAP safety ratings. The company operates an assembly plant in Tamil Nadu and plans to expand its showroom network in 2026. VinFast also intends to introduce additional models to meet diverse consumer needs.

Beyond financing, VinFast has launched programs to address ownership concerns. These include an assured resale value program and transparent buyback schemes to reduce worries about depreciation. The company has extended its free charging program via the V-Green charging network until March 31, 2029.

VinFast is also running a "Trade Gas for Electric" promotion from March 11 to March 31, 2026. This program offers incentives of 3% for electric cars and 5% for electric two-wheelers to customers trading in petrol vehicles. The initiative is active in India, Vietnam, Indonesia, and the Philippines.

CSB Bank and Industry Context

CSB Bank, with over a century of history and headquartered in Kerala, operates 855 branches and 826 ATMs across India. The bank serves SME, retail, and NRI customers and is listed on the NSE and BSE. Its strong presence in Tamil Nadu, Maharashtra, Karnataka, and Andhra Pradesh supports the rollout of the VinFast partnership.

This deal reflects a broader trend of automakers and financial institutions collaborating to boost EV adoption in India. As the world's third-largest automotive market, India faces challenges such as high vehicle prices, limited charging infrastructure, and a lack of tailored financing products. Partnerships like this are seen as key to addressing these barriers, especially in semi-urban and Tier 2 markets.

VinFast, a subsidiary of Vingroup JSC and listed on NASDAQ as VFS, offers electric SUVs, motorcycles, bicycles, and buses globally. The company is expanding its distribution network in North America, Europe, the Middle East, and Asia.