Maruti Suzuki ties up with IndusInd Bank to offer car loan

New Delhi: India's largest car manufafturer Maruti Suzuki India (MSI) has tied up with IndusInd Bank to arrange finance schemes for customers.

“For addressing personal mobility needs of the customers in the wake of the current COVID-19 pandemic scenario, IndusInd Bank has offered a variety of finance options including low EMI scheme, step-up and balloon payment options and funding 100% on-road price for the vehicles. IndusInd Bank has a wide portfolio that can be customised for needs of salaried, self-employed, agriculturists and businessmen,” MSI said in a statement.

Maruti said that this association would help facilitate the car buyers to avail easy and attractive finance schemes.

Here are the key points of the offer

• Low EMI scheme (1st three months) starting at Rs 899 per Lakh
   
• Step-up scheme, EMI starting with Rs 1,800 per Lakh
   
• Balloon EMI scheme, final EMI 25% of loan amount
   
• Upto 100% on-road funding for customers with valid income proof
   
• Upto 100% ex-showroom funding for customers who does not have valid income proof
   
• Scheme is valid for all Maruti Suzuki models

 “This collaboration is aimed at providing support to our customers who might be facing liquidity crunch in the prevalent COVID-19 scenario. These special structured schemes like low EMI scheme, balloon and step-up EMI schemes, will ease the pressure on immediate cash-flow of consumers,” Shashank Srivastava, Executive Director (Marketing & Sales), Maruti Suzuki India said.

 “At IndusInd Bank, we are delighted to team up with MSIL to roll out these curated offerings for customers who are keen on buying a car,” SV Parthasarathy, Head (Consumer Finance Division), IndusInd Bank, said.