Tata Motors partners with HDFC to provide financing offers for passenger vehicles

Our Bureau Mumbai | Updated on October 17, 2020 Published on October 17, 2020

Tata Motors on Saturday announced its collaboration with HDFC Bank to rolled out new finance offers for its passenger vehicle customers.

Ahead of the festive season, the company has introduced two new schemes as part of this collaboration in a bid to make its passenger vehicles more affordable.

The schemes ‘Gradual Step Up Scheme’ and the ‘TML Flexi Drive’ scheme are available till the end of November 2020. These offers can be redeemed on the entire New Forever BS-VI range of cars and SUVs along with the company’s EV range.

The Gradual Step Up Scheme provides customers with the option to avail EMI options as low as ₹799 per lakh per month, depending on the product and variant at an attractive interest rate.

“The EMI payments gradually increase over a period of 2 years depending on the payment convenience of the buyer,” the company said in an official release.

According to the Flexi Drive scheme, customers can choose any three months every year, where they can pay minimum EMI of up to ₹789 per lakh per month, depending on the product and variant, as per his/her convenience.

“We hope, that these offers will boost customer morale and make the process of purchasing a car more convenient, thereby allowing them to truly celebrate the festivities with their friends and families,” Vivek Srivatsa, Head – Marketing, Passenger Vehicle Business Unit, Tata Motors said.

Arvind Kapil – Country Head, Retail Lending, HDFC Bank said, “We are extremely excited to be partnering with Tata Motors, this festive season, which is just around the corner and stay committed to bringing in attractive and never before finance offers via our Festive treats platform. 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.”

The company also announced that it will be providing up to 100 per cent ex-showroom financing on the entire PV product range under both schemes.

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Published on October 17, 2020
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