HCIL is working closely with various financial institutions to offer new financial schemes to increase its sales among Indian customers and provide easy finance for car purchases. HCIL has partnered with Kotak Mahindra Bank Ltd for a customer-friendly program for its fourth-generation Honda City buyers. Under the program, customers can avail an interest rate of 6.99% for 5 years and a low EMI for the initial 3 months at Rs 999 per lakh, customers who are interested in the exchange can also avail exchange bonuses Can.

Honda has also partnered with HDFC Bank on various finance schemes. Under this scheme, customers will have to get a combination of step-up EMI and balloon EMI at the end of term on the Honda model. If customers buy a car with a loan for 7 years, then they will have to pay less EMI during most of the period, while the remaining amount will be included in the final EMI. The interest rate for this scheme will be 9.25 percent and the EMI will increase every year with the balloon EMI coming in the last month part of the term

Honda Cars India believes that with the Kovid-19 epidemic, people will be extra cautious against coronaviruses and increasingly opt for personal mobility. The company says that such easy finance schemes can solve many financing issues in this difficult period. Similar finance options have been introduced by other car companies such as Tata Motors, Mahindra, Maruti Suzuki Skoda Auto, Volkswagen, Fiat and Mercedes-Benz India.

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