To make the car ownership process easier for customers, Tata Motors announced on Wednesday that it has signed a Retail Finance Memorandum of Understanding with Bandhan Bank to provide financing options to all its vehicle customers. of tourism.
“As part of the combination, Bandhan Bank will provide loans to Tata Motors customers at an interest rate starting at 7.50%. This program will provide financing up to 90% of the vehicle’s total road cost,” the premier automaker said in a statement.
Customers can also avail special EMI options with a repayment term of up to seven years and the bank has also designed some exclusive features such as no fees on foreclosure and partial payment, Tata Motors said. .
Aiming to make our personal mobility solutions more affordable and accessible at great rates, Rajan Amba, Vice President of Tata Motors Passenger Vehicles Business Unit (Sales, Marketing and Customer Service), said: “This partnership is part of our #FinancEasy festival, in which we are collaborating with several finance partners across India to make car ownership accessible, as well as a hassle-free process for customers and thus add to the celebrations of this festive season. ”
The company hopes these offers will make the process of buying Tata cars much easier for customers and positively impact their overall buying experience, he added.
Kamal Batra, Head – Assets, Bandhan Bank, said, “With this association, we hope to leverage the wide reach of both brands in rural, semi-urban and urban markets and enable many Indians to realize their dream of own their personal vehicles. .”
“With zero partial payments and foreclosure fees and competitively priced, Bandhan Bank’s auto loans will appeal to target markets. This tie-up is evidence of the Bank’s continued efforts to meet the needs of emerging India,” said he added.
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