Tata Motors announces three new financing schemes for customers
The new financial schemes from Tata Motors aims to boost sales amidst the global pandemic. The three schemes include Red Carpet, Prime Vishwas and Low EMI scheme and all schemes are offered with variable tenures. The finance schemes are segmented keeping both urban and rural buyers in mind along with benefits for salaried employees, self-employed and customers with no income proof.
The Red Carpet scheme is for customers with income proof and offers up to 90% funding on the on-road price of the vehicle. The tenure can be opted for up to 7 years and customers can enjoy no FOIR for a loan of up to Rs 11 lakh. The Prime Vishwas scheme is for customers with no income proof and it offers up to 90% funding on the ex-showroom price of the vehicle. The loan tenure is limited to 5 years whereas the assessment criteria is based on agricultural land or asset parameters. Read our review of the Tata Safari here.
The Low EMI scheme is for both salaried employees and self-employed customers. It offers up to 50% low EMI (Rs 999 per lakh) for the first 3 months to reduce the burden on customers. In addition to that, the funding can be up to 80% on the on-road price of the vehicle. Tata Motors has also set up a comprehensive 'Business Agility Plan' to protect the interests of customers, dealers and suppliers. Read how it is to take the Tata Nexon EV on a Mumbai-Pune road trip here.
Text by Amit Sarawat
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