Maruti Suzuki ties up with HDFC Bank for car financing: Offers to know

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May 28, 2020

NEW DELHI: In a move to help customers make their car purchase easy, Maruti Suzuki India Limited has joined hands with HDFC Bank Limited to offer a bouquet of flexible finance schemes for new car buyers.
Under the special tie-up, Maruti Suzuki customers can avail a variety of retail finance schemes from HDFC Bank including:
1. Step-up EMI plus balloon scheme with a very low initial EMI of Rs 1,111/- per lakh for loan tenure of 84 months.
2. EMI starting from Rs 899 for the first six months for salaried and first three months for self-employed customers.
3. Flexi EMI scheme with an option to choose low EMIs for 3 months every year for the tenor of the loan.
The loans will be sanctioned as per the applicable policy of HDFC Bank. In addition, in view of the current social distancing norms and the need to reduce physical documentation, HDFC Bank would also be offering Maruti Suzuki customers the option of a post-approval digital disbursement. This is an industry-first solution through its Zip Drive and Digital end-to-end programme for non-HDFC Bank customers as well, the release said.
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.”
Arvind Kapil, Country Head for Retail Assets, HDFC Bank, said “These are challenging times for the country and we believe it’s the collective responsibility of all stakeholders to provide flexible offerings to customers.”

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