Tata Motors has tied up with HDFC Bank to finance its passenger vehicles. The company has introduced two schemes for financing vehicles under this alliance. In this context, Tata Motors said in a statement that two new schemes - 'Grazuel Step Up Scheme' and 'TML Flexi Drive Scheme' were introduced in collaboration with HDFC Bank to increase sales and make products easier in the festive season. Huh.
Schemes will be available by November
The company said that both these plans would be available by the end of November 2020. These can be availed on all cars, sports utility vehicles (SUVs), and electrical vehicles are compatible with Bharat Stage-6.
What is Grazuel's step-up scheme?
Under the 'Graduate Step Up Scheme', consumers can avail of a minimum installment of Rs 799 per lakh per month. The EMI will depend on the model and version of the vehicle. Monthly installments will increase gradually for two years according to the buyer's convenience.
What is the TML Flexi Drive Scheme?
Under the 'TML Flexi Drive Scheme', consumers can choose any three months of each year in which they want to pay the minimum installment. The company said that these schemes have been introduced to provide ease to consumers in paying the installments of the vehicle.
This is how customers will benefit
In this context, Vivek Srivatsa, head of marketing (passenger vehicle business), Tata Motors, said, 'It is part of our drive to make individual vehicles easily available to the public so that consumers take advantage of their vehicle in the festive season this year Can. ' Tata Motors said that under both these schemes, it is providing a loan of 100 percent of the ex-showroom price on all its passenger vehicles.