To make the ownership of cars an easy process for customers and add to the celebrations of year-end offers, leading automotive manufacturer Tata Motors has signed a retail finance MoU with Bandhan Bank, offering exciting finance options to all its passenger vehicles.
As part of the tie-up, Bandhan Bank will provide loans to Tata Motors’ customers at an interest rate starting from as low as 7.5%. This scheme will offer a maximum of 90% financing on the total on-road cost of the vehicle.
To avail of these schemes, customers can reach out to their nearest Tata Motors dealer or register their interest in buying a Tata car through a Bandhan Bank branch. Customers can also enquire, request a test drive, make bookings, and select their preferred financing option via ‘Click to Drive’, Tata Motors’ end-to-end online platform, from the comfort and safety of their homes.
According to a press release from Tata Motors, customers can also enjoy the benefit of special EMI options with a repayment tenor of up to seven years. In addition, the bank has also designed certain exclusive features for Tata Motors car buyers availing of the car finance option, which includes zero charges on foreclosure and part payment.
These offers will be applicable on the New Forever range of ICE cars and SUVs and on EVs for personal segment buyers across the country.
Rajan Amba, Vice President, Sales, Marketing & Customer Care, Passenger Vehicle Business Unit, 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 and thereby adding to the celebrations of this festive season. We hope that these offers will make the process of purchasing our cars much easier for customers and that this will positively impact their overall buying experience of Tata cars.”
Kamal Batra, Head – Assets, Bandhan Bank, said, “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 fulfil their dreams of owning their personal vehicles. With zero part payment and foreclosure charges and at competitive pricing, Bandhan Bank car loans will appeal to the target markets.”