Tata Motors Partners With Induslnd Bank To Offer Finance Scheme

Tata Motors has rolled out new finance offers on its passenger vehicle range in association with IndusInd Bank. As part of this partnership, the company will provide a Step Up scheme allowing buyers to choose and buy its vehicles with a special low EMI option scheme for the first 3-6 months. The new scheme gives customers EMI options which have been lowered by 60 per cent starting from Rs. 834 per lakh per month and at attractive interest rate, depending on the scheme and the products. It is also likely to spur demand for its models at a time when buyers' sentiments are not very positive in the market.

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Models like the Tata Harrier, Safari or Tigor gets a loan to value (LTV) of up to 85 per cent on the ex-showroom price.

Commenting on the roll out of these finance schemes offers, Ramesh Dorairajan, Head, Network Management and Trade Finance, Passenger Vehicles Business Unit, Tata Motors, said, "We, at Tata Motors, have always been committed to supporting our customers at all times. The recent Covid-19 upsurge has impacted everyone and to help our passenger car family in these challenging moments, we are delighted to be partnering with IndusInd Bank to roll out special finance schemes. This is in alignment with our constant efforts to fast track the availability of safe personal mobility solutions to individuals and families at pocket friendly rates. We hope that these offers will boost customer morale and make the process of purchasing a car more convenient."

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Models like the Tata Tiago, Nexon or Altroz will make the customers eligible to get an LTV of 90 per cent.

Moreover, this service will be provided without any income proof and with flexible tenure options ranging between one and seven years, again depending on the product and variant. Moreover, while models like the Tata Harrier, Safari or Tigor get a loan to value (LTV) of up to 85 per cent on the ex-showroom price, vehicles like the Tata Tiago, Nexon or Altroz will make the customers eligible to get an LTV of 90 per cent.