Maruti Suzuki Ties Up With HDFC Bank To Offer New Finance Schemes

Maruti’s efforts to make car purchasing easier for buyers in the ongoing scenario continue

• Up to 100 per cent on-road funding available.

• Special rate of interest for women.

• Post-approval digital disbursement to customers.

The coronavirus outbreak is proving to be a challenging period for all sectors including the automobile industry. While no cars were sold in April, things are slowly returning to normalcy as carmakers have resumed operations and even reopened select dealerships. In a move to help buyers plan their purchases better, Maruti Suzuki has tied up with HDFC Bank to offer new financing options.

HDFC Bank is also providing up to 100 per cent on-road funding for select Maruti models. It has introduced several financing initiatives as part of this tie-up. Let’s take a look at each of them individually:

• Step-up EMI and balloon scheme with an EMI of Rs 1,111 per lakh for a loan tenure of 84 months.

• EMI starting from Rs 899 for the first six months for salaried and first three months for self-employed customers.

• Flexi EMI scheme with the option to choose low EMIs for three months every year for the tenure of the loan.

• Special rate of interest for women buyers.

• HDFC Bank to also provide post-approval digital disbursement to non-HDFC Bank customers.

Speaking about the partnership, Shashank Srivastava, Executive Director, Maruti Suzuki India, said, “We are confident that our collaboration with HDFC Bank for providing retail financing solutions will benefit our customers. This is an advantage to buyers who may face resource crunch amidst the COVID-19 lockdown. New car buyers can select from a host of schemes that will offer low down payment options and low EMIs. This would particularly help customers in the entry-level segments. In addition, digital disbursement makes it more convenient for customers in current times.”

Related: Buy A Maruti Today, Start Paying For It After Two Months

Besides, Maruti recently tied up with ICICI Bank to offer three new finance options. While the balloon EMI scheme is applicable only to select models, other schemes and 100 per cent on-road funding is valid on all Maruti cars.