- Honda has partnered with Kotak Mahindra Bank and HDFC
- The company has rolled out the finance schemes to address finance issues during the COVID-19 phase
Honda Cars India is working with various financial institutions to offer new financial schemes. The finance schemes can address many issues of financing during the COVID-19 phase.
Honda has partnered with Kotak Mahindra Prime for its fourth-generation Honda City buyers. Under the programme, customers can avail a low rate of interest scheme for five years at the rate of 6.99% and low EMI for initial three months at Rs 999 per lakh. Customers who are interested in exchange will be able to avail an exchange bonus as well.
In another scheme introduced with HDFC, customers will get to avail benefits of a combination of Step-up EMI and Balloon EMI at the end of the tenure. Under this scheme, for a tenure of seven years, customers can benefit in terms of lower EMI during most part of loan tenure and balance amount included in last EMI. The rate of interest is 9.25% and the EMI increases every year with the balloon EMI in the last month.
