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Tata Motors partner Bank of Maharashtra for retail financing scheme
August 17, 2021
Tata Motors has partnered with the Bank of Maharashtra in a bid to offer a retail financing scheme for its passenger vehicles.
According to the alliance, the Bank of Maharashtra will provide loans to Tata Motors’ clients at an interest rate starting from as low as 7.15 percent linked with Repo Linked Lending Rate (RLLR), subject to certain conditions, referenced the organization’s official statement.
Further, the plan will offer a limit of 90% financing on the total cost of the vehicle (on-road pricing) for different people like salaried representatives, self-employed individuals, professionals, businessmen, and agriculturists, declared the statement.
The organization said that a limit of 80% financing can be profited by the corporate customers on the cost of the vehicle.
Bank of Maharashtra Executive Director Hemant Tamta said, “We are optimistic that we can forge a great partnership and serve our clients with the best products and services.” Tata Motors said the organization is additionally offering its clients a hassle-free choice of getting their loans approved with zero processing fee till September 30, 2021, under “Monsoon Dhamaka Offer”.
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