The tie-up will allow Mahindra to leverage UCO Bank’s exhaustive network of over 3,000 branches, extending the reach of its financing options to passenger vehicle customers across the country.
As part of the agreement, UCO Bank will offer credit to prospective car owners at attractive rates of interest, high LTV and without any pre-payment charges.
Speaking on the occasion, Satinder Singh Bajwa, Sr. VP Head – Sales & Customer Care, Automotive Division, M&M Ltd.,said, “Our tie-up with UCO Bank will enable us to offer attractive financing options to customers aspiring to own a Mahindra SUV. Our association with UCO Bank will help us turn those dreams to reality by making the SUV ownership experience easier, more accessible and more affordable.”
UCO Bank Executive Director Shri Ishraq Ali Khan said, “Mahindra & Mahindra Dealers and UCO bank officials will be working in tandem for the benefit of customers. With this tie-up, UCO Bank will offer loan facility to Mahindra customers belonging to various profiles including salaried, self-employed, businessmen, professionals and farmers. UCO Bank will offer attractive terms on the loans, thereby making it easier and more affordable for customers to own a Mahindra SUV.”