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Coronavirus Lockdown Update: Mahindra & Mahindra Offer New Finance Schemes
Coronavirus Lockdown Update: Mahindra & Mahindra Offer New Finance Schemes
Published On: 20 May 2020
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Mahindra & Mahindra announces new financial schemes for Coronavirus Warriors and Women.
Indian Automaker Mahindra & Mahindra recently unveiled a series of financial schemes. These financial schemes will come with special offers for Coronavirus warriors and women buyers. The benefits include new finance schemes like an 8-year loan term, 90-days moratorium on payment and 100 percent on-road financing. The financial schemes will help the customers in purchasing a Mahindra vehicle during the lockdown period. The financing schemes will deliver financial flexibility and empower the customers to own a Mahindra vehicle at their convenience, the company mentioned in a release on its website.
The financial schemes include a 50 percent waiver on the processing fee and the option to "buy now, pay later" (with a 90-day moratorium on payment) for the doctor’s community. Also, a high funding scheme for police force while women customers will be given a 10-basis point discount on the financing cost as per the information on its website.
The Indian automaker is offering customers a chance to own BSVI-compliant pick-up and pay the same EMI as that of BS-IV vehicle while an SUV customer can also own the vehicle now and start paying the EMI from 2021, it further added.
Veejay Nakra, CEO, Automotive Division, M&M commented, "The introduction of these unique financing schemes is one more step by Mahindra to support its customers during these challenging times. The bedrock of each one of our schemes is to provide financial flexibility and peace of mind to our customers, especially for our COVID warriors who are providing unparalleled support at this point in time. Together with the various digital interventions which Mahindra has recently announced both in its sales and service, these offerings will provide our customers with a holistic buying and owning experience for a Mahindra vehicle".
EMI will be starting as low as Rs. 1,234 per lakh for Mahindra automobiles with the rate of interest starting from a low 7.75 percent. Loan tenure of 8 years, no prepayment/foreclosure charges from the very first day and taxi funding is available for a wide range of Mahindra SUVs are some of the key highlights of the new financial schemes from Mahindra and Mahindra.
