Maruti Suzuki Partners With IndusInd Bank To Offer New Finance Options

It is also focussing on offering up to 100 per cent ex-showroom funding to customers with no valid income proof

• Aim is to offer easy finance and car loan options.

• Up to 100 per cent on-road funding available for customers with valid income proof.

• The finance options are applicable on all Maruti models.

While the coronavirus pandemic severely affected all the industries including the automobile sector, it was allowed to commence manufacturing in May 2020 while adhering to the government’s guidelines. Following this, many carmakers rolled out new finance options to increase sales. Now, Maruti Suzuki has tied up with IndusInd Bank to roll out new finance options.

IndusInd Bank is offering up to 100 per cent on-road funding on all Maruti cars. It has introduced several financing initiatives as part of this tie-up. Let’s take a look at each of them individually:

• EMI starting from Rs 899 per lakh for the first three months.

• Step-up scheme where the EMI starts from Rs 1,800 per lakh.

• Under the Balloon EMI scheme, the final EMI is 25 per cent of the total loan amount.

• Up to 100 per cent ex-showroom funding for customers with no valid income proof.

Also Read: Maruti Suzuki S-Cross Petrol Details Leaked, Launch Soon

Speaking about the initiative, Shashank Srivastava, Executive Director of Marketing and Sales, Maruti Suzuki India, said, “IndusInd Bank is one of our leading finance partners. This collaboration is aimed at providing support to our customers who might be facing liquidity crunch in the prevalent COVID-19 scenario. These special structured schemes like low EMI scheme, balloon and step-up EMI schemes, will ease the pressure on immediate cash-flow of consumers. Also with the bank’s expertise in lending to a variety of customers especially with no income proof, we are extremely confident of the collaboration bringing in convenience to both the rural and urban customers of MSIL.”

Related: Maruti And Mahindra Finance Partnership Will Allow You To Buy Now And Pay Later

Besides, the carmaker has also tied up with ICICI and HDFC Banks to offer similar finance options to customers. While certain schemes are applicable on all models, others are valid only on select ones.