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Business EconomyPosted at: Oct 17 2020 1:31PM


Tata Motors passenger vehicles business collaborates with HDFC Bank

Mumbai, Oct 17 (UNI) Auto major Tata Motors in collaboration with HDFC Bank has rolled out exciting finance offers for its passenger vehicle customers.
In a bid to make their products more accessible while contributing to the enthusiasm of this year’s festive season, the Company has introduced 2 new schemes in association with the Bank - the ‘Gradual Step Up Scheme’ and the ‘TML Flexi Drive’ scheme. Available till the end of November 2020, these offers can be redeemed on the entire New Forever BS VI range of cars and SUVs along with the company’s EV range.

Gradual Step Up Scheme under this scheme, customers can now avail EMI options as low as Rs 799/- per lakh per month, depending on the product and variant at an attractive interest rate. As per the scheme, the EMI payments gradually increase over a period of 2 years depending on the payment convenience of the buyer. This scheme will help customers fast track their buying process, in turn making personal mobility available to all at pocket friendly rates.
According to the Flexi Drive scheme, the option to the consumer is to choose any 3 months every year, where he/she can pay minimum EMI (INR 789/- per lakh per month, depending on the product and variant) as per his/her convenience. The above scheme will help the customer map their EMI payment properly so that they can tide over the high outflow months easily, giving the customer the flexibility and power to choose.
Commenting on the roll out of these finance scheme offers, Mr Vivek Srivatsa, Head - Marketing, Passenger Vehicle Business Unit, Tata Motors said, “We are humbled to be partnering with HDFC Bank to roll out exciting offers for our customers. This is in alignment with our constant endeavour to make safe personal mobility solutions more affordable and accessible to individuals and families, while contributing to the joy of this year’s festive season. We hope, that these offers will boost customer morale and make the process of purchasing a car more convenient, thereby allowing them to truly celebrate the festivities with their friends and families.”
Commenting on the joint offers campaign, Mr Arvind Kapil – Country Head, Retail Lending, HDFC Bank said, "At HDFC Bank, the objective is to offer the very best in class products and services to our customers. We are extremely excited to be partnering with Tata Motors, this festive season, which is just around the corner and stay committed to bringing in attractive and never before finance offers via our Festive treats platform. We believe this partnership offers affordable and viable financing solutions, in that, creating a valuable proposition for our customers, thereby facilitating the ownership of their dream car”
Adding to the above, the Company is also providing up to 100 pc ex-showroom financing on the entire PV product range under both schemes. Furthermore, to avail these offers, customers can reach out to their nearest Tata Motors dealer or through an HDFC Bank branch and register their interest in buying a Tata car.
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