Many automobile companies in India are introducing many new schemes to increase their sales, so that the consumer burden can be slightly reduced for a few months.
Meanwhile, giants like Maruti Suzuki, Hyundai and Mercedes Benz are also selling cars under the Buy Now Pay Pay scheme. Apart from this a teaser loan has also been introduced. Let us tell you that under a teaser loan, the bank will reduce the interest rate for the first few months of your loan period, which will directly affect the customer’s EMI. However, the EMI is increased after a few months in the loan process.
Let me tell you that these days, for customers who want to buy a new car, Maruti is offering loans in monthly installments of just Rs 899 in collaboration with HDFC and ICICI Banks. That is, these days you can avail 100 percent loan scheme for teaser loan.