India’s leading NBFC (Non-Banking Finance Company), Mahindra Finance, declared the launch of its new ‘Shubh Utsav’ program. The scheme involves two months of special offers and discounts on vehicle loans for customers at competitive rates for the upcoming festive season. Mahindra Finance launched the scheme with immediate effect and will continue until the end of the festive season in November.
‘Shubh Utsav’ includes special finance schemes which are available for customers across the entire country in the coming two months. The campaign also includes a variety of innovative customer benefits. The highlighting perks include a 7.35% interest rate on SUV Loans for Mahindra vehicles and up to 100% of funding. Other benefits include a 7-year loan tenure, a 60-day buy now-pay later policy, and a 50% waiver on processing fees. Notable inclusions involve a 12% interest rate on pre-owned car loans and a zero processing fee for Tractor Implements Loan. Select customers can avail of the quarterly and half-yearly EMI for Car and Tractor loans.
The opening up of the economy post the pandemic allowed Mahindra Finance to witness a significant change in customer demand. This festive season will grant customers the opportunity to spend and enable further improvements in their buying patterns. Mahindra recently launched their brand new XUV700 on October 2nd, which has taken the market by storm.
Starting at INR 11.99 lakh, The SUV received 25,000 bookings within the first hour of its release. The 2nd batch of Mahindra’s XUV700 also received 25,000 bookings in under 2 hours, a monumental milestone for the brand. The sharp rise in customer demand for the SUV comes courtesy of Mahindra launching the vehicle before the festive season. This led to Mahindra hiking the starting price for the SUV, now starting at INR 12.49 lakh (ex-showroom Delhi).
Mahindra also includes the new tractor range of Yuvo Tech+ 405, Yuvo Tech+ 275, and Yuvo Tech+ 415 in the ‘Shubh Utsav’ program. The brand offers customers a 6-years warranty with easy availability of spares and service points across the country. The Yuvo platform-based tractors now feature higher cubic capacity engines which provide the best performance figures in their class. Other notable features of the tractors include a dual-action power steering along with 12 Forward and 3 Reverse gears paired to an advanced Constant-mesh transmission.
Also Read: Audi begins Q5 SUV local production at SAVWIPL plant in Aurangabad