Tata Motors joins hands with HDFC Bank, EMI to increase gradually for two years


New Delhi: If you are thinking about buying a car then this is a great opportunity for you. Actually, in the festive season, many car companies are offering great offers to woo customers. In the same sequence, Tata Motors has partnered with HDFC Bank to finance passenger vehicles. The company has introduced two schemes for the finance of vehicles under this tie up.

The company has introduced 2 schemes
Tata Motors said in a statement that two new schemes ‘Graduate Step Up Scheme’ and ‘TML Flexi Drive Scheme’ has been introduced in association with HDFC Bank to increase sales during the festive season and make the product easier to reach. The company said that both these plans will be available by the end of November 2020. These can be availed on all cars, sports utility vehicles (SUVs) and electrical vehicles compatible with Bharat Stage-6.


EMI will increase gradually for two years
The company said that under the ‘Graduate Step Up Scheme’, customers can avail the minimum installment of Rs 799 per lakh per month. The EMI will depend on the model and edition of the vehicle. Monthly installments will increase gradually for two years according to the buyer’s convenience.

Choose EMI by selecting three months in a year
Under the ‘TML Flexi Drive Scheme, customers can choose any 3 months in which they want to pay the minimum installment every year. The company said that these schemes have been introduced to provide ease to the consumers in filling the installments of the vehicle. Tata Motors also said in a statement that under these two schemes, it is offering the facility to provide loans of 100 percent of the ex-showroom price on all its passenger vehicles.

Vivek Srivats, head of marketing (passenger vehicle business), Tata Motors, said, “This is part of our drive to make individual vehicles easily available to the public, so that customers can avail their vehicles during the festive season this year.” ‘