Good times roll in for Maruti Suzuki customers
Maruti Suzuki partners with ICICI and HDFC banks to financially ease for potential customers
Looking to buy a Maruti Suzuki? They have the perfect plan for you. Maruti Suzuki has announced partnership with HDFC and ICICI banks to ease off potential customers, financially. Each partnership has its own benefits. Customers get to choose from a plethora of options depending upon the policies of each respective bank. I'll try to simplify all of it for you.
In the partnership with both banks, customers will get options of flexible finance and many more EMI options. First of all, customers can avail low EMI options specially targeted at entry level customers. Customers will also have an option of balloon EMI and step-up EMI. Balloon EMI basically paying one fourth of the total amount as the last installment. And step-up EMI means customers can increase their EMI amount by up-to 10% every year.
In the case of HDFC bank the EMI amount will start from INR 1,111 per lakh for a tenure of 84 days (3 months). But, in case of ICICI customers have a lot more options. EMI options at ICICI starts from INR 899 per lakh, for the first three months with Flexi EMI. As for the balloon EMI, the lowest amount will be INR 1,797 per lakh during the entire tenure and customers can pay one fourth amount of the loan amount as the last EMI.
For step-up, EMI amount will be INR 1,752 per lakh during the first year of payment. And as mentioned earlier customers can increase their EMI amount upto 10% per year, for a tenure of five years, if they wish to. An additional facility that customers can get with ICICI is that they will get 100% on-road funding of all Maruti Suzuki cars under Pragati-Assessed Income Product (AIP). Do make sure to ask for all of these things if you plan on visit your nearest MS dealer.
A wonderful initiative by Maruti Suzuki. What do you feel about car manufacturers coming up with various schemes and numerous ways to attract customers during lock-down? Let me know in the comments below.
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