Maruti Ties Up with IndusInd, Karur Vyasa for Easy Car Loans
India’s largest car manufacturer Maruti Suzuki India (MSI) has partnered with IndusInd Bank and Karur Vyasa Bank in separate deals and gears up to push auto sales that have been severely hit due to COVID 19 and subsequent lockdowns in the country.
The tie up will bring easy and attractive Car Loan offers online for customers. Let’s take a ride over these customised loan offers below-
IndusInd Bank and Maruti tie up
Maruti and IndusInd Bank have collaborated to offer customised auto loan offers for all buyers. The partnership aims at offering repayment relief to customers by offering a host of benefits along the Car Loan. Customers can choose from benefits such as low EMIs, step-up EMI structure and balloon payments and 100% financing on-road price. The scheme is valid for all Maruti models and is available for a range of customers, right from salaried, to self-employed, to agriculturists and businessmen.
Benefits for car buyers:
- Amid current financial disruptions, customers will get an option to choose low EMI scheme wherein first three EMIs could be as low as Rs 899 per Lakh.
- Another option would be a Step-up EMI structure. The EMI will start at Rs 1,800 per Lakh.
- Considering unprecedented cash crunch of customers, the lender is also extending an option to borrow at Balloon EMI structure. Here in customers get option to make a final balloon payment of 25% of loan amount. This ensures low EMIs and low burden of loan throughout the tenure.
- The financing is available for Up to 100% on-road price, for customers with valid income proof. However, customers who do not possess a valid proof of income will get up to 100% ex-showroom funding.
Karur Vysya Bank and Maruti Suzuki’s Tie Up
Karur Vysya Bank and Maruti Suzuki have tied up to offer easy financing on 100% on-road price with six-month holiday period. The offer is available for all models , except of Omni & EECO, to salaried as well as self-employed customers for a duration of up to 84 months. The Auto Loans are available to non-income proof customers as well.
The partnership aims to offer convenience and cost-effectiveness to the borrowers. The KVB promises to extend in-principle loan sanction in 15 minutes. The existing customers could be assured of loan disbursal on the same day. Furthermore, customers will be able to complete the whole process digitally.