Automobile

Tata Motors joins hands with HDFC Bank for novel car financing schemes – ET Auto

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.

New Delhi: Tata Motors on Saturday announced that in collaboration with HDFC Bank it has introduced two new financing schemes, ‘Gradual Step Up Scheme’ and ‘TML Flexi Drive’, for its passenger vehicle customers.

Under the Gradual Step Up Scheme, customers can avail themselves of EMI options starting at INR799 per lakh per month, depending on the product and variant, the company said in a release. EMI payments gradually increase over a period of two years depending on the convenience of the buyer.

TML Flexi Drive provides consumers the option to choose any three months every year, where they can pay a minimum EMI of INR789 per lakh per month, depending on the product and variant, according to their convenience.

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. These schemes are expected to help customers to fast track their buying process by making the vehicles available at pocket-friendly rates.

Vivek Srivatsa, head – marketing, Passenger Vehicle Business Unit, Tata Motors, said, “We are humbled to be partnering with HDFC Bank to roll out exciting offers for our customers. 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.”

Arvind Kapil, country head, retail lending, HDFC Bank, said, “At HDFC Bank, the objective is to offer the very best in class products and services to our customers. We believe this partnership offers affordable and viable financing solutions, creating a valuable proposition for our customers, thereby facilitating the ownership of their dream car.”

In addition, the company is also providing up to 100% ex-showroom financing on the entire PV product range under both the schemes.


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