Handshake with hdfc bank
Tata Motors (HDFC Bank) has joined hands with HDFC Bank for this minimum installment scheme. The scheme will benefit Tata Motors’ Bharat Stage-6 on all cars, sports utility vehicles (SUVs) and electrical vehicles. In a statement, Tata Motors said that two new schemes, ‘Graduate Step Up Scheme’ and ‘TML Flexi Drive Scheme’, have been introduced in collaboration with HDFC Bank to increase sales during the festive season and make the product easier to reach. The company said that both these plans would be available by the end of November 2020.
Graduate step up scheme
Tata Motors says that under the company’s ‘Graduate Step Up Scheme’, consumers can avail a minimum installment of Rs 799 per lakh per month. Yes, the EMI will depend on the model and edition of the vehicle. Not only this, EMIs will gradually increase for two years according to the buyer’s convenience.
TML Flexi Drive Scheme
Tata Motors’ second scheme is’ TML Flexi Drive Scheme ‘. Under this scheme, users can select any three such months in which they can pay the minimum installment. The company says that both these schemes are meant to make it easier for the customers to fill the installments of the vehicle. In addition, the company will also provide a loan of 100 percent of the ex-showroom price on all passenger vehicles under both these schemes.
Mahindra & Mahindra inks agreement with Bank of Baroda
At the same time, Mahindra and Mahindra Company has tied up with Bank of Baroda (BoB). This deal has been done to provide loans to farmers and rural brothers for tractors. BoB will provide tractor loans to Mahindra & Mahindra customers through its 5,000-plus rural and semi-urban branch network.