Maruti Suzuki Partners With Axis Bank For New Financing Options
Published On Jul 07, 2020 03:59 PM By Rohit
Axis Bank is offering up to 100 per cent on-road funding to salaried customers for eight years
Aim is to offer easy finance and car loan options.
Each deal comes with different loan repayment options.
These financing options are valid until July 31.
The Indian automobile industry is slowly shaping up once again with manufacturing and other activities having resumed at plants and dealerships from May 2020. Now, in an attempt to help prospective buyers, Maruti Suzuki has tied up with Axis Bank to offer new financing options.
Axis Bank is offering up to 100 per cent on-road funding to salaried customers for eight years. It has introduced several financing initiatives as part of this tie-up that are valid until July 31. Let’s take a look at each of them individually:
Step-up scheme where the EMI starts from Rs 1,250 per lakh.
Under the Balloon EMI scheme, the final EMI is 25 per cent of the total loan amount.
EMI starting from Rs 899 per lakh for the first three months.
Commenting on the initiative, Shashank Srivastava, Executive Director, Marketing and Sales, Maruti Suzuki India, said, “One of the impacts of the COVID-19 pandemic has been a change in people’s behaviour when it comes to mobility. Concern over safety and maintaining social distancing has uptick the preference for having a personal vehicle. We are confident that this association with Axis Bank will help our customers in offering convenient, affordable and cost-effective finance solutions for buying cars. With this tie-up, our customers will have a wide array of easy finance options to choose from.”
In other news, Maruti Suzuki has introduced a subscription program for its models that allows new buyers to pay a monthly cost and take a new car home. To know which cities it is applicable in and on which models, head here.