New Delhi: India's largest car manufacturer Maruti Suzuki India (MSI) has tied up with Axis Bank to arrange finance schemes for customers.
As a part of the tie-up, Axis Bank will offer attractive flexi EMI options to ease the liquidity and repayment stress of customers during these tough times. Axis Bank offers auto loans to a wide category of customer segments: salaried, self-employed and with or without income proof customers, MSI said in a statement.
Maruti Suzuki customers will have the following finance options
• 100% on-road funding for salaried customers for 8 years
• Step-up scheme, EMI starting at Rs 1,250 per Lakh
• Balloon EMI scheme (final EMI 25 percent of loan amount)
• Low EMI Scheme, for 1st three months, starting with Rs 899 per lakh
• Offers valid till July 31, 2020
“One of the impacts of COVID-19 pandemic has been 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 solution for buying cars. With this tie-up our customers will have a wide array of easy finance options to choose from,” Shashank Srivastava, Executive Director (Marketing & Sales), Maruti Suzuki India said.
“It’s always been our endeavor to engage with our esteemed clients and offer them customized finance solutions for different customer needs. Our primary objective has always been to provide ease and convenience for our customers. The COVID-19 Pandemic has created a need for more creative and flexible financing options for Maruti Suzuki car buyers and our best-in-class financing solutions will provide the much-needed hassle-free experience of car buying and financing,” Pralay Mondal, Executive Director (Retail Banking), Axis Bank said.