Tata Motors collaborates with Kotak Mahindra Prime to offer three financing solutions for its passenger vehicle customers

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Bengaluru: In an effort to make its safest range of passenger vehicles more accessible in these challenging times, Tata Motors in association with Kotak Mahindra Prime Ltd., one of the leading car finance companies in India, has announced three exciting financing solutions: the Red Carpet, the Prime Vishwas and the Low EMI schemes for urban and rural customer groups (salaried, self-employed, no-income proof), with optional tenor periods, depending on the model. The parameters of these schemes have been simplified to ease the financial burden on customers during the on-going pandemic.

Red Carpet Product Prime Vishwas Product

 

Low EMI Scheme
For customers with income proof

Up to 90% funding on on-road price

Loan tenure up to 7 years

No fixed obligation to income ratio(FOIR) for loan up to Rs. 11 lakh

Attractive offers for pre-payment and part-payment of loans

 

 For no-income proof customers

Up to 90% funding on ex-showroom price

Loan tenure up to 5 years

Simple assessment criteria based on agriculture land or asset ownership parameters

 

 For self-employed & salaried customers

Up to 50% lower EMI – for the first 3 months to reduce the initial burden on customers

EMIs starting at as low as Rs. 999 per lakh for the first 3 months

Up to 80% funding on on-road price

 

Furthermore, Tata Motors recently announced that it has put in place a comprehensive ‘Business Agility Plan’ to protect and serve the interests of its customers, dealers, and suppliers for the well-being of its business and supporting ecosystem.To avail the various finance schemes, customers can reach out to their nearest Tata Motors dealer or through a Kotak Mahindra Prime branch or visit their website.

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