Mahindra & Mahindra offers new finance schemes, special benefits for doctors, cops, women

Auto major Mahindra & Mahindra on Tuesday rolled out a range of new finance schemes, including special offers for the Corona Warriors and women buyers, such as 8-year loan term, 90-days moratorium on payment and 100 per cent on-road financing, to help customers purchase its vehicle with ease amid the lockdown.

These financing schemes deliver financial flexibility and empower the customers to own a Mahindra vehicle model at their convenience, the company said in a release.

"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 Corona Warriors who are providing unparalleled support at this point in time," said Veejay Nakra, CEO (automotive division), M&M Ltd.

Together with various digital interventions that Mahindra has recently announced both in its sales and service, these offerings will provide the customers with a holistic buying and owning experience for a Mahindra vehicle, he said.

The schemes include 50 per cent waiver on the processing fee and the option to "buy now, pay later" (with 90-day moratorium on payment) for the doctors' community, high funding scheme for police personnel while women customers will be entitled to a 10-basis point discount on the financing cost, according to the company.

The auto maker also offers customers to own a 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 added.

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Under another scheme, the EMI for a financed vehicle starts from as low as Rs 1,234 per lakh as well, it said.