India’s largest automaker, Maruti Suzuki India Ltd., has worked with private lender Axis Bank Ltd. to provide easy vehicle financing for car buyers.
As part of this partnership, Axis Bank will offer a variety of options to clients, including 100% road financing for salaried clients for eight years.
An intensified EMI program – starting at Rs 1,250 per lakh – and a balloon EMI program, with a final payment of 25% of the loan amount, are available, the company said in a statement. Customers can also choose to pay low EMI for the first three months, starting at Rs 899.
These offers are valid until July 31.
“The flexi EMI options aim to alleviate customer stress on liquidity and repayment in these difficult times,” said Maruti Suzuki, adding that Axis Bank offers auto loans to a broad category of customer segments: employees, self-employed and with or without proof of income. customers.
“Concerns about safety and maintaining social distancing have increased the preference for a personal vehicle,” said Shashank Srivastava, executive director (marketing) of Maruti Suzuki. “We are convinced that this association with Axis Bank will help our customers to provide a practical, affordable and profitable financing solution for the purchase of cars.”
The two partners will leverage the strong reach of more than 3,000 Maruti Suzuki outlets and more than 4,500 Axis Bank branches to reach a wide range of customers across the country, the statement said.