Tata Motors signs retail finance MoU with Bandhan Bank for passenger vehicles.
- ByStartupStory | December 16, 2021
Tata Motors tied up with Bandhan Bank for retail finance for its range of passenger vehicles. According to the agreement, Bandhan Bank will provide loans to Tata Motor’s customers at an interest rate starting from as low as 7.5 per cent, the automaker said in a statement. The company hopes that these offers will make the process of purchasing Tata cars much easier for customers and that this will positively impact their overall buying experience.
“As part of the tie-up, Bandhan Bank will provide loans to Tata Motors’ customers at an interest rate starting from as low as 7.50%. This scheme will offer a maximum of 90% financing on the total on-road cost of the vehicle. Customers can also enjoy a benefit of special EMI options with a repayment tenor of up to seven years and the bank has also designed certain exclusive features like zero charges on foreclosure and part payment” The automotive company said in a statement.
Kamal Batra of Bandhan Bank said on the agreement, “With this association, we are hopeful to leverage on the extensive reach of both brands in rural, semi-urban and urban markets and enable many Indians to fulfill their dreams of owning their personal vehicles.” He added, “With zero part payment and foreclosure charges and at competitive pricing, Bandhan Bank car loans will appeal to the target markets. This tie up is an evidence of the Bank’s ongoing endeavour to partner the needs of emerging India”
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