Mumbai: Mahindra & Mahindra Limited has come up with a great offer for government employees. They will get a loan at a lower interest rate with a cash discount of up to Rs 11,500 on the purchase of a Mahindra & Mahindra car. The company is also offering them the facility to repay the loan in easy installments.
Mahindra & Mahindra announced the scheme on Thursday. Named 'Government 2.0'. Under this, all government employees will be entitled to a maximum discount of up to Rs 11,500. Even if you take a loan, no processing charge will be levied. Apart from this he does not have to pay foreclosure fee. Which means they don't have to pay any fees if they pay off their loans ahead of time.
Mahindra & Mahindra said the interest rate on the loan has been kept at 7.25 per cent. The employee can keep the loan repayment period up to 8 years. This means that for every Rs 1 lakh loan, he will have to pay only Rs 799. Mahindra & Mahindra has approached several finance companies for the scheme. Mahindra & Mahindra said the scheme is being introduced by several financial institutions. To avail this, the customer has to contact the nearest dealer.
Mahindra & Mahindra Company is also offering contactless payment along with instant EMI facilities. Finance companies are offering this facility to customers. The company's popular models include the XUV500, Bolero, XUV300 and Scorpio.
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