Maruti, HDFC Bank Join Forces To Offer Car Loan At Rs 899/Month EMI! This Is How It Works..

As per the latest news coming in, Maruti Suzuki has joined hands with the HDFC Bank and plans to offer flexible finance schemes for any new car buyers. In this scheme, the bank and the automobile manufacturer plans to offer some easy EMI options for interested buyers. 

Find out what this new collaboration between Maruti Suzuki and HDFC Bank Ltd. will work right here!

Maruti Suzuki Joins Hands With HDFC Bank Ltd. To Offer EMI Schemes From Rs. 899

Maruti Suzuki, India’s largest car manufacturer, has joined hands with HDFC Bank Ltd. as announced by the company in a statement. The statement also says that they will be introducing flexi equated monthly installment (EMI) options, as low as Rs. 899, and a variety of other schemes. 

There will also be a balloon scheme with a very low initial installment of Rs. 1,111 per lakh for a loan period of as long as 84 months. The scheme of Rs. 899 EMI will be offered for the first six months for salaried employees and for three months for self-employed customers. Customers will also be offered up to 100 percent on-road funding.

Maruti Suzuki And HDFC India Ltd. Believe The Collaboration Would Be Good For Customers

Shashank Srivastava, Executive Director (M&S), Maruti Suzuki India said that the company is confident that this collaboration with HDFC Bank Ltd. will be good for the customers. As per Srivastava, digital disbursement would prove to be more convenient for customers in the present situation.

He said, “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.” 

As per reports, the loans will be sanctioned as per the policies of HDFC Bank. Also, the customers of Maruti Suzuki will be offered the option of digital disbursement post-approval keeping health and social safety in mind.

As we all know, the automobile industry has been a sinking ship for a long time now. Maruti Suzuki reported zero sales this month, and the lockdown imposed due to the Coronavirus is to be blamed for this.