Mahindra in partnership with SBI brings innovative finance schemes for its pickup and SCV buyers
Published On Aug 23, 2021
To help first time buyers, micro-entrepreneurs finance their trucks for potential employment opportunities, Mahindra seeks to make it easy. The company introduces the lowest EMI and interest rates, along with higher loan tenure and 85 % on-road price funding among other things with minimum document requirements, quick approval and hassle-free buying experience.
Are you planning to buy your next Mahindra truck in a week or month? If the answer is yes, then there is good news waiting for you. The company has announced a partnership with India’s largest lender, the State Bank of India for innovative finance options to make your dream of owning a Mahindra truck effortless.
Lending a helping hand to first time buyers, transport/logistics entrepreneurs across India, Mahindra is offering innovative financial assistance for the purchase of M&M’s range of small commercial vehicles and pick-ups, providing among the best interest rate and loan tenure. Technology like SBI’s Contactless Lending Platform will further ensure uniformity, transparency and a reduced turnaround time in the loan approval process. It will also allow flexibility in a customer’s cash flow and contactless ownership experiences for brands such as SUPRO Profit Truck Mini and Maxi, Jeeto and the popular Bolero Pick-Up range, thus making Mahindra vehicle ownership safe and affordable.
Distinctive Finance Options
The collaboration with SBI will allow M&M’s SCV customers to avail of the loan in a contactless and hassle-free manner with only 59 minutes loan approval process. This will help customers own a superior product with EMI as low as Rs. 6666 (for a loan amount of 3.45 lacs) and a lower interest rate of 11.5%. It also gives the flexibility of extended tenure up to 6 years including a one-month moratorium period also. The customers can opt for a higher loan amount with up to 85% on-road funding. Importantly, the customer doesn’t need any third-party guarantor.
Along with MSME, small road transport operators and First Time Buyers of small commercial vehicles can also take benefit from this breakthrough M&M vehicle financing scheme with SBI. With a pan-India reach and more than 22,000 branches, SBI has an extensive network across the country, and through this partnership it hopes to strengthen its reach, especially in rural areas, aiding employment as well as providing unique and innovative financial assistance to its customers.
M&M recently launched the SUPRO Profittruck range which is developed on the successful SUPRO platform. The SUPRO Profittruck range comes in both diesel as well as CNG fuel options. The popular Jeeto mini-truck brand launched in 2015, has been a great success and a choice of over 2 lakh happy customers. The Jeeto is available in multi-fuel options like diesel, CNG and petrol in two different deck sizes providing an array of options to customers. Mahindra Bolero PickUp range has been the market leader for over two decades with more than 16 lakh happy customers. Mahindra Bolero PickUp has a wide range of vehicles – Single cabin, Double cabin, AC, 4WD and CNG options along with multiple payloads and cargo sizes suiting the customer requirements.
Mahindra aims to influence the customer’s life positively and enable them to earn more & to progress in life while building a long-term relationship with the brand Mahindra. M&M also provides best in class after-sales support through its vast Primary and Secondary service network and trained technicians.