Cars and Bikes

Maruti Suzuki – Buy now pay later scheme, Partners with HDFC and ICICI for easy finance

Amid lock-down to boost declining sales, #Marutisuzuki India have brought 03 new schemes to make car buying experience easier for customers,

Maruti Suzuki Buy Now Pay Later Scheme:

Maruti Suzuki and Cholamandalam Investment & Finance Company join hands, Offer allows flexibility to customers to pay EMIs after two months of availing the loan, The new solution #BuyNowPayLater Offer is aimed to provide customers with easy financing options.

A two-month deferment of EMI will bring advantage to car customers who currently are under resource crunch amidst the COVID-19 pandemic.,

Highlights:

  • Upto 90% on Road Funding
  • Customers to start paying the EMIs after 60 days of loan disbursement

Encouraging people to buy a new vehicle, the ‘Buy Now Pay Later Offer’’ will allow customers to start paying the EMIs after 60 days of loan disbursement. This will make the process of car buying more convenient in these unprecedented times. With Maruti Suzuki’s vast network of 3,086 new car retail outlets across 1,964 cities and towns and CIFCL’s extensive branch presence across the country, the offer is expected to benefit many customers. The offer is available on select Maruti Suzuki models and will be applicable on loan disbursement till 30th June 2020.

Maruti Suzuki partners with ICICI bank

#ICICIBankMarutiSuzuki are long-standing and preferred partners for retail financing of Maruti Suzuki. Under this association, ICICI Bank is offering a bouquet of attractive finance schemes to the Maruti Suzuki customers to help them overcome the current financial challenges.

Prominent features of this tie up include:

1. Flexi EMI scheme: It enables customers to pay low EMI initially in order to help them overcome the liquidity stress due to COVID-19 pandemic. The EMI amount starts with a low Rs 899 on a loan amount of Rs 1 lakh for first three months. Thereafter the EMI amount is higher.

2. Balloon EMI scheme: This scheme helps the customers to pay EMI as low as Rs 1,797 per lakh during the tenure, barring the last instalment when they pay one-fourth of the loan amount. This scheme is curated specially for the customers who are keen to pay lower EMI through the loan tenure.

3. Step up EMI scheme: This offers the customers a unique advantage of increasing EMI amount up to 10% every year as their income increases. The EMI could start from Rs 1,752 per lakh in the first year of repayment which progressively increases by 10% every year for loan tenure of five years.

Additionally, ICICI Bank offers up to 100% on-road funding of Maruti Suzuki cars*. (*Credit at sole discretion of ICICI Bank Ltd, T&C apply)

Maruti Suzuki and HDFC bank alliance

#MarutiSuzukiHDFCBank In a move to help customers make their car purchase easy, Maruti Suzuki India Limited has joined hands with HDFC Bank Limited to offer bouquet of flexible finance schemes for new car buyers.

Highlights

  • Step up plus Balloon EMI scheme starting at Rs 1,111/- per lakh
  • EMI staring from Rs 899 per month per Lac for the first 6 months
  • Flexi EMI options – Low EMI for 3 months ,every year
  • Special interest rate for women customers
  • Up to 100% on-road funding
  • In a first, HDFC Bank to provide post approval ,paperless digital disbursement to non HDFC Bank customers

Categories: Cars and Bikes

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