Tata’s popular cars Tiago, Nexon and Altroz are offered as a part of this new initiative. You only pay the interest for this period.
Tata Motors has come up with an innovative initiative of no EMIs for the first 6 months of buying any of the three Tata cars – Tiago, Nexon and Altroz. It also offers zero down payment and up to 100 per cent on-road finance facility over and above the prescribed scheme for a loan tenure of 5 years. For this task, Tata Motors has joined hands with one of India’s oldest bank, Karur Vysya Bank (KVB).
The homegrown automaker has been instrumental in bringing customer-first schemes. In this crisis, social distancing is of prime importance. Thus, a personal car is one such element which helps in keeping one protected during day to day commutes. Moreover, the automaker has come up with affordable, step-up EMI options on car loans which are for longer durations of up to 8 years.
Step-up EMI means the financial institution would be taking a lower amount in the initial years and will gradually increase the amount as the loan tenure nears its end.
For more than 5-year loans, the premium hatchback, Tata Altroz can be had with a starting installment of Rs 5,555. Similarly, Tata Nexon subcompact SUV and Tiago hatchback can be booked under this scheme with EMIs starting as low as Rs 7,499 and Rs 4,999, respectively.
Over the years, Tata cars have progressed by leaps and bounds in every department be it designs, technology, safety or engines. From nowhere to a torchbearer, the Indian automaker has kept the competition on its toes. Above all, the aggressively priced cars make them true value for money.
On a side note, carmakers are coming up with different ways to push their products into the market. The almost 3-month long nationwide lockdown has left the auto companies with huge losses. It’s time to make up for the loss. Expect more such schemes from other automakers in the near future.