Tata Motors has signed a MoU with Bandhan Bank to offer finance options to its PV customers. As part of the MoU, the bank will provide loans to Tata Motors’ customers at an interest rate starting from 7.5 per cent, said a press release.
The bank will offer a maximum of 90 pc 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. The bank has also designed certain exclusive features, which includes zero charges on foreclosure and part payment.
Mr. Rajan Amba, Vice-President, Sales, Marketing & Customer Care, PVBU, Tata Motors, said, “We are delighted to join hands with Bandhan Bank and this partnership is a part of our #FinancEasy Festival, wherein we are collaborating with multiple finance partners across India to make ownership of cars accessible, as well as a hassle-free process for the customers.”
Mr. Kamal Batra, Head – Assets, Bandhan Bank, said, “We are pleased to partner with Tata Motors as preferred financier for car loans. 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 fulfill their dreams of owning their personal vehicles.”