Toyota EMI Holiday scheme begins: Low interest rates and other benefits for COVID-19 workers

The benefits for frontline workers include lower interest rates, no processing fees and 63 month EMI scheme.

By:May 23, 2020 1:53 PM

Alongside other manufacturers, Toyota India too has introduced schemes for frontline workers. The Japanese carmaker has started its Toyota EMI Holiday Scheme. This offer basically is for those opting for finance from Toyota Financial Services India Limited. Buy the car on finance and then pay the first EMI after three months. The monthly payment is kept very low – minimum of Rs 100. Regular EMI starts from the fourth month. The loan term is extended from the regular 60 months to now 63 months. The best part is that the customer has cash at his disposal for sometime.  This is something that even Maruti, Nissan and Mahindra too have started. If you are a COVID-19 frontline worker like a policeman or health advisory, then you benefit from a lower rate of interest. Moreover, there is also a 100 per cent waiver on loan processing fees. The aforementioned Holiday Scheme too is applicable.

The EMI Holiday Scheme is applicable on almost all Toyota cars including the Camry, Fortuner, Innova Crysta, Yaris and Glanza. It excludes the CBU model, the Vellfire. As for the frontline worker scheme, it is only for the Glanza and Yaris. Toyota and other companies have restarted their operations. While the production at some places is yet to start, Toyota will start making cars from next week. Spare parts mobility has begun. Dealerships as well as service stations at Toyota have started depending on zones and government regulations.

Also Read Toyota Glanza review

Toyota India will soon launch the Urban Cruiser. It is the rebadged version of the Maruti Suzuki Vitara Brezza. The Urban Cruiser will sport a 1.5-litre petrol engine that makes 103hp power and 138Nm. It might come with a ISG motor as standard and can be classified as a mild hybrid. Maruti currently offers the Brezza in a hybrid combination only with the 4-speed automatic. Toyota might get a hybrid version even in the manual, thereby differentiating both the cars to some extent. Expect a higher four year warranty as well.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, 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