Mahindra Introduces Special Finance Schemes Amid COVID-19 Crisis

Deferred EMIs, lower interest rates, and special offers available for Mahindra models

• Special finance options for coronavirus frontline workers like doctors, police and essential service providers.

• Option to defer EMI payment until 2021 or opt for a 90-day moratorium.

• BS6 Mahindra pickup available for the same EMI as BS4 model.

• Loan tenure of up to 8 years with interest rates starting at 7.75 per cent.

• Balloon EMIs, waiver of fees or charges, and lower interest rate for women buyers.

The coronavirus pandemic has affected lives in many ways, especially when it comes to finances. Taking cognizance of this problem, carmakers are introducing various financing schemes to encourage sales and reassure existing customers. Now, Mahindra has announced new finance options and offers to help customers during this period.

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The Indian carmaker is offering special benefits to frontline COVID-19 workers like doctors, police, and essential service providers. Doctors get the option of a 90-day moratorium on their new Mahindra with a 50 per cent discount on the processing fee. Police personnel can get higher funding schemes to buy a new Mahindra vehicle while essential workers can get a BS6 Mahindra pickup at the same EMI as a BS4 model.

Other finance schemes from Mahindra offer new customers the choice of deferring the start of their EMI payments by 90 days or even until 2021. There is also the option of balloon EMI plans such as the first three EMIs being lower or paying 50 per cent less EMI for three months every year of the loan tenure and paying 25 per cent at the end.

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The carmaker is also offering up to 100 per cent on-road funding for its SUVs and a loan tenure of up to 8 years with interest rates starting from 7.75 per cent. The interest rate is even lower for women buyers with no charges for prepayment or foreclosure. Mahindra also has special funding schemes for those who will be using its SUVs as taxis.