Tata Motors on Saturday mentioned it has collaborated with HDFC Bank for financing of its passenger vehicles.
Through the partnership, the corporate mentioned it has launched two new schemes — ‘Gradual Step Up Scheme’ and ‘TML Flexi Drive Scheme’ with an eye fixed on making its merchandise extra accessible and driving up gross sales within the festive season.
The schemes will likely be obtainable until the tip of November 2020 and may be redeemed on your complete new BS-VI vary of automobiles and SUVs alongside with the corporate’s EV vary, Tata Motors mentioned in an announcement.
Under the Gradual Step Up scheme, clients can avail EMI choices as little as Rs 799 per lakh monthly, relying on the product and variant. The EMI funds progressively enhance over a interval of 2 years relying on the cost comfort of the client, it added.
Flexi Drive scheme affords the choice to the patron to decide on any three months yearly, the place s/he pays a minimal EMI of Rs 789 per lakh monthly, relying on the product and variant as per comfort.
This is aimed toward serving to clients map their EMI cost correctly in order that they’ll tide over the excessive outflow months simply, giving them the pliability and energy to decide on, the corporate mentioned.
Commenting on the collaboration, Tata Motors Head – Marketing, Passenger Vehicle Business Unit Vivek Srivatsa mentioned, “This is in alignment with our constant endeavour to make safe personal mobility solutions more affordable and accessible to individuals and families, while contributing to the joy of this year’s festive season.”
HDFC Bank Country Head – Retail Lending Arvind Kapil mentioned, “We believe this partnership offers affordable and viable financing solutions, in that, creating a valuable proposition for our customers, thereby facilitating the ownership of their dream car.”
Tata Motors mentioned additionally it is offering up to 100 per cent ex-showroom financing on your complete PV product vary beneath each schemes.