NEW DELHI: Tata Motors on Saturday stated it has collaborated with HDFC Bank for financing of its passenger autos.
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 might be accessible until the top of November 2020 and could be redeemed on your entire new BS-VI vary of automobiles and SUVs together with the corporate’s EV vary, Tata Motors stated in an announcement.
Below the Gradual Step Up scheme, clients can avail EMI choices as little as Rs 799 per lakh per 30 days, relying on the product and variant. The EMI funds progressively improve over a interval of two years relying on the fee 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 will pay 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 clients map their EMI fee correctly in order that they’ll 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 secure private mobility options extra inexpensive and accessible to people and households, whereas contributing to the enjoyment of this yr’s festive season.”
HDFC Financial institution nation head – retail lending Arvind Kapil stated, “We imagine this partnership presents inexpensive and viable financing options, in that, making a precious proposition for our clients, thereby facilitating the possession of their dream automobile.”
Tata Motors stated it is usually offering as much as 100 per cent ex-showroom financing on your entire PV product vary beneath each schemes.

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