24.6 C
California
Friday, October 23, 2020

Tata Motors ties up with HDFC Bank for financing of passenger vehicles – Times of India

NEW DELHI: Tata Motors on Saturday said it has collaborated with HDFC Bank for financing of its passenger vehicles.
Through the partnership, the company said it has introduced two new schemes — ‘Gradual Step Up Scheme’ and ‘TML Flexi Drive Scheme’ with an eye on making its products more accessible and driving up sales in the festive season.
The schemes will be available till the end of November 2020 and can be redeemed on the entire new BS-VI range of cars and SUVs along with the company’s EV range, Tata Motors said in a statement.
Under the Gradual Step Up scheme, customers can avail EMI options as low as Rs 799 per lakh per month, depending on the product and variant. The EMI payments gradually increase over a period of 2 years depending on the payment convenience of the buyer, it added.
Flexi Drive scheme offers the option to the consumer to choose any three months every year, where s/he can pay a minimum EMI of Rs 789 per lakh per month, depending on the product and variant as per convenience.
This is aimed at helping customers map their EMI payment properly so that they can tide over the high outflow months easily, giving them the flexibility and power to choose, the company said.
Commenting on the collaboration, Tata Motors head – marketing, passenger vehicle business unit Vivek Srivatsa said, “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 said, “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 said it is also providing up to 100 per cent ex-showroom financing on the entire PV product range under both schemes.

Speak Your Mind

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Get in Touch

211FansLike
41FollowersFollow
41FollowersFollow

Recommend for You

Walmart divides Black Friday deals into 3 separate events that kick off online

An employee works on a display ahead of Black Friday at a Walmart store in Chicago, November 20, 2018.Kamil Krzaczynski | ReutersFor shoppers who...

‘Lock Up The Bidens’: Trump Picks Target For Final Stretch – His Opponent’s Family

Topline President Trump has begun focusing a disproportionate amount of his attention at campaign events on his Democratic opponent Joe Biden’s family in an...

WHO concerned about Europe’s coronavirus outbreak as ICU beds near capacity in some regions

A member of the medical staff treats a patient suffering from the coronavirus disease (COVID-19) at the Intensive Care Unit (ICU) of the Slany...

Dr. Fauci says his kids aren’t coming home for Thanksgiving as Americans ‘sacrifice’ holiday gatherings to stay safe from coronavirus

Director of the National Institute for Allergy and Infectious Diseases Dr. Anthony Fauci testifies before the House Committee on Energy and Commerce on the...

Trump Has Said U.S. Is ‘Rounding The Turn’ On Coronavirus 28 Of The Last 46 Days

Topline President Trump has said the United States is “rounding the turn” – or “corner” or “bend” – on the coronavirus pandemic with shocking...

Related Articles

Canadian finance minister could lose job amid dispute over...

OTTAWA Canadian Finance Minister Bill Morneau could lose his job amid disagreements with...

Can Live Sports Transform The Streaming Video Wars?

(AP Photo/Gregory Payan) ASSOCIATED PRESS The...

Struggling In The Wild Western Pacific, Palau May Finally...

As the Western Pacific gets wilder, Palau seeks security....

Sensex tanks 422 points, Nifty at 11,202

Mumbai: Equity benchmark Sensex plunged 422 points on Wednesday as profit-booking emerged in index...