Tata Motors on Friday said it has rolled out finance offers for its passenger vehicle customers in collaboration with IndusInd Bank.
As part of the partnership, the auto major will provide a 'Step Up' scheme under which customers can choose and buy from its range of passenger cars in the country, with a special low EMI option scheme for the first 3-6 months.
"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," said Ramesh Dorairajan, Head Network Management and Trade Finance, Passenger Vehicles Business Unit at Tata Motors.
The move is in alignment with the company's constant effort to fast track the availability of safe personal mobility solutions to individuals and families at pocket-friendly rates, he added.
"These innovative financial schemes aim at not only reducing the burden on the customer's wallet during these tough times but also allow them to prioritise commuting in a hygienic, safe and comfortable environment. We take pride in joining hands with Tata Motors to roll out these schemes," IndusInd Bank Executive Vice President (Passenger Vehicles) T A Rajagoppalan, said.
Under the Step Up scheme, customers can avail EMI options lowered by 60 per cent, starting from Rs 834 per lakh per month, depending on the scheme and the products at an attractive interest rate.
As per the scheme, the EMI payments will remain lower for 3-6 months depending on the convenience of the buyer. This will be provided with non-income proof funding and flexible tenor options ranging from 1 to 7 years, depending on the product and variant.