Tata Motors partners with Bank of Maha for passenger vehicle financing
PTI, Aug 16, 2021, 12:11 PM IST
New Delhi: Homegrown auto major Tata Motors on Monday said it has partnered with the Bank of Maharashtra to offer a retail financing scheme for its passenger vehicles.
Under the partnership, the Bank of Maharashtra will provide loans to Tata Motors’ customers at an interest rate starting from 7.15 per cent linked with Repo Linked Lending Rate (RLLR), subject to certain conditions, the company said in a statement.
Besides, the scheme will offer a maximum of 90 per cent financing on the total cost of the vehicle (on-road pricing) for various individuals like salaried employees, self-employed people, professionals, businessmen, and agriculturists, added the statement.
On the other hand, a maximum of 80 per cent financing can be availed on the cost of the vehicle by corporate clients, the company said.
Tata Motors Passenger Vehicles Business Unit Vice president, Sales, Marketing and Customer Care Rajan Amba said, ”Given the ramifications of the second wave of the pandemic, we, at Tata Motors, have always tried to make our personal mobility solutions more affordable and accessible for individuals and families at beneficial rates.”
The partnership with the Bank of Maharashtra is aimed at offering special finance schemes to support the company’s customers in these tough times, it added.
”We hope that these offers will make the process of purchasing a car that much easier for customers and that this will positively impact their overall buying experience of Tata cars,” Amba said.
Bank of Maharashtra Executive Director Hemant Tamta said, ”We are optimistic that we can forge a great partnership and serve our customers with the best products and services.”
Tata Motors said the partnership is also offering its customers a hassle-free option of getting their loans approved with zero processing fee till September 30, 2021, under “Monsoon Dhamaka Offer.”
Prospective buyers can also avail of a special EMI option starting with Rs 1,517 per lakh for 7 years.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
IndiGo, Air India plan to purchase up to 170 wide-body planes in little over a year
Kotak Mahindra Bank shares tank 13%; mcap erodes by Rs 37,721 crore post RBI action
Four-day market rally makes investors richer by Rs 8.48 lakh crore
Kotak Bank barred from onboarding customers online, issuing fresh credit cards
Reverse migration has begun, says FM Nirmala Sitharaman
MUST WATCH
Latest Additions
IndiGo, Air India plan to purchase up to 170 wide-body planes in little over a year
PM Modi urges citizens to exercise their powerful voice through voting, Encourages record turnout
IPL 2024: Patidar, spinners help RCB snap six-match losing streak
Polls underway in 14 Karnataka constituencies for Lok Sabha Elections
NIA arrests key accused in 2023 attack on Indian High Commission in London