The scheme is applicable to employees of all banks across the country and will be in effect for two months starting July till August 31, 2014, the company said in a statement.
Commenting on the scheme, Mahindra & Mahindra Chief Sales & Customer Care Officer, Automotive Division, Arun Malhotra said it is a way of acknowledging support and contributions made by bankers and providing a further fillip to the company's relationship with them going forward.
"Financiers are an integral part of the automotive business model since a majority of vehicle purchases are finance based in India," he added.
In a tough market, M&M has been struggling to keep sales growth momentum. Last month it had reported a marginal increase in total sales at 38,471 units as against 38,092 units in the same month last year.
Its domestic sales also rose marginally at 36,457 units last month as against 36,207 a year earlier.