Tata Motors has signed a five-year Memorandum of Understanding (MoU) with Equitas SFB, one of the country’s largest small finance banks, to bring attractive financial solutions to its customers.
With benefits applicable across the Tata Motors small commercial vehicle (SCV) range, the tie-up will aim to facilitate seamless availability of financing for aspiring buyers, according to a press release issued by the automotive brand.
Tata Motors will leverage Equitas SFB’s strong network across the country, spanning 861 branches and 550+ CV customer touch-points to make these solutions accessible for customers, said the release.
Mr. Rohit Gangadhar Phadke, Senior President & Head – Retail Assets, Equitas Small Finance Bank said “We are happy to be associated with Tata Motors Limited at such an early stage of the bank’s journey. Through this partnership, Equitas would reach a large set of financially excluded segments to help them buy their first commercial vehicle from Tata Motors Limited.”
Mr. Rajesh Kaul, Vice-President, Sales & Marketing, Commercial Vehicle Business Unit, Tata Motors, said, “We are delighted to partner with Equitas SFB, one of India’s leading small finance banks, to make our extensive range of vehicles available to a larger set of customers, with easy financing and flexible repayment options.”
