Honda Cars India introduces easy finance schemes

Honda Cars India introduces easy finance schemes
Fourth-generation Honda City (Image: Honda Cars India)

Honda Cars India has announced that it is working closely with various financial institutions to offer new financial schemes. Honda has partnered with Kotak Mahindra Bank for a ‘customer-friendly’ programme for fourth-generation Honda City buyers.

Under the programme, customers can avail low rate of interest scheme for five years at the rate of 6.99 percent and low EMI for the initial three months at Rs 999 per lakh. There’s also an additional exchange bonus for customers to avail.

Considering that people will be extra careful against COVID, customers will increasingly opt for personal mobility. Easy finance schemes can address many issues of financing during this tough phase.

In another scheme introduced with HDFC, customers will get to avail benefits of a unique combination of Step-up EMI and Balloon EMI at the end of the tenure on all Honda models.

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 percent and the EMI increases every year with the balloon EMI in the last month.