Tata Motors on Saturday mentioned it has collaborated with HDFC Financial institution for financing of its passenger automobiles. Via the partnership, the corporate mentioned it has launched two new schemes — ‘Gradual Step Up Scheme’ and ‘TML Flexi Drive Scheme’ with a watch 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 the complete new BS-VI vary of vehicles and SUVs together with the corporate’s EV vary, Tata Motors mentioned in a press release.

Beneath the Gradual Step Up scheme, prospects can avail EMI choices as little as Rs 799 per lakh per thirty days, relying on the product and variant. The EMI funds regularly enhance over a interval of two years relying on the fee comfort of the customer, 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 per thirty days, relying on the product and variant as per comfort. 

That is geared toward serving to prospects map their EMI fee correctly in order that they’ll tide over the excessive outflow months simply, giving them the flexibleness and energy to decide on, the corporate mentioned.

Commenting on the collaboration, Tata Motors Head – Advertising, Passenger Automobile Enterprise Unit Vivek Srivatsa mentioned, “That is in alignment with our fixed endeavour to make secure private mobility options extra inexpensive and accessible to people and households, whereas contributing to the enjoyment of this yr’s festive season.”

HDFC Financial institution Nation Head – Retail Lending Arvind Kapil mentioned, “We imagine this partnership affords inexpensive and viable financing options, in that, making a helpful proposition for our prospects, thereby facilitating the possession of their dream automotive.”

Tata Motors mentioned it’s also offering as much as 100 per cent ex-showroom financing on the complete PV product vary underneath each schemes.

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