InvestorQ : What is the tie-up that HDFC Bank and Tata Motors have entered into?
Rutuja Nigam made post

What is the tie-up that HDFC Bank and Tata Motors have entered into?

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4 months ago
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HDFC Bank and Tata Motors have signed a collaboration agreement for financing of passenger vehicles manufactured by TAMO. Under the partnership, there is a Gradual Step-Up Scheme and TML Flexi Drive Scheme, with the idea of making cars more accessible.

Under the first Gradual Step-Up scheme, customers can avail of EMI options that are as low as Rs.799 per lakh per month, which would depend on the product and the variant. The EMI payments will be stepped up and gradually increase over 2 years based on buyer convenience factor.

On the other hand, the Flexi Drive scheme offers consumers the option to choose any three months every year, where they will be allowed to pay a minimum EMI of Rs.789 per lakh per month and a more normalized EMI on the remaining months of the year.

This move is aimed at helping customers map their EMI payment properly, especially to boost vehicle sales during the festive season that is likely to last all the way up to December 2020. These schemes give customers the flexibility and power to choose the best mode.

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