October 19, 2020

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

New Delhi: Tata Motors on Saturday stated it has collaborated with HDFC Financial institution for financing of its passenger automobiles.

By the partnership, the corporate stated 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 shall be accessible until the top of November 2020 and may be redeemed on the complete new BS-VI vary of automobiles and SUVs together with the corporate’s EV vary, Tata Motors stated in a press release.

Underneath 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 steadily enhance over a interval of two years relying on the cost comfort of the client, it added.

Flexi Drive scheme presents 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 30 days, relying on the product and variant as per comfort.

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

Commenting on the collaboration, Tata Motors Head – Advertising, Passenger Car Enterprise Unit Vivek Srivatsa stated, “That is in alignment with our fixed endeavour to make protected private mobility options extra reasonably priced and accessible to people and households, whereas contributing to the enjoyment of this 12 months’s festive season.”

HDFC Financial institution Nation Head – Retail Lending Arvind Kapil stated, “We imagine this partnership presents reasonably priced and viable financing options, in that, making a beneficial proposition for our prospects, thereby facilitating the possession of their dream automobile.”

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