Tata Motors, IndusInd Bank announce tie-up for car finance: Low EMI, flex term & more

Tata Motors clarifies that as per the scheme, the EMI payments will remain lower for a period of 3-6 months depending on the convenience of the buyer.

By:July 13, 2021 11:08 AM

Tata Motors, in collaboration with IndusInd Bank, has rolled out new finance offers for its passenger vehicle customers. The company has been partnering with banks to provide lucrative offers for its customers. As part of this partnership with IndusInd Bank, the company will provide the ‘Step Up’ scheme under which customers can choose and buy from Tata Motors’ range of passenger cars, with a low EMI options scheme for the first 3-6 months.

The manufacturer clarifies that under its Step Up scheme, customers can avail of EMI options lowered by 60% starting from Rs 834 per lakh per month, depending on the scheme and the products.

Also read: Tata Safari Road Test Review: What you think you want vs what you really want

As per the scheme, the EMI payments will remain lower for a period of 3-6 months depending on the convenience of the buyer. This will be provided with non-income proof funding and flexible tenor options ranging from 1 to 7 years depending on the product and variant.

Furthermore, while the purchase of the Harrier, Safari or Tigor gets a loan to value (LTV) of up to 85% on the ex-showroom price, purchase of Tiago, Nexon or Altroz will make the customers eligible to get an LTV of 90%.

This is in alignment with our constant effort to fast-track the availability of safe personal mobility solutions to individuals and families at pocket-friendly rates. We hope that these offers will boost customer morale and make the process of purchasing a car more convenient, Ramesh Dorairajan, Head Network Management and Trade Finance, Passenger Vehicles Business Unit, said.

These innovative financial schemes aim at not only reducing the burden on the customer’s wallet during these tough times but also allow them to prioritize commute in a hygienic, safe and comfortable environment, T.A. Rajagoppalan, Executive Vice President, Passenger Vehicles, IndusInd Bank, said.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Latest Auto News