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Tata Motors: Tata Motors ties up with HDFC Bank for financing of passenger automobiles

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New Delhi: Tata Motors on Saturday mentioned it has collaborated with HDFC Bank for financing of its passenger automobiles.

Through 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 out there until the top of November 2020 and will be redeemed on all the new BS-VI vary of vehicles and SUVs together with the corporate’s EV vary, Tata Motors mentioned in an announcement.

Under the Gradual Step Up scheme, prospects can avail EMI choices as little as Rs 799 per lakh per 30 days, relying on the product and variant. The EMI funds regularly improve over a interval of two years relying on the fee comfort of the customer, it added.

Flexi Drive scheme provides the choice to the buyer to decide on any three months yearly, the place s/he will pay a minimal EMI of Rs 789 per lakh per 30 days, relying on the product and variant as per comfort.

This is aimed toward serving to prospects map their EMI fee correctly in order that they will 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 it’s also offering as much as 100 per cent ex-showroom financing on all the PV product vary below each schemes.




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