On Monday, the Major Major Tata Motors, said it has been associated with the Bank of Maharashtra to offer a retail funding scheme for its passenger vehicles.
Under the Association, the Bank of Maharashtra will provide loans to Tata Motors customers at an interest rate from 7.15 percent linked to the RECO (RLLR) linked loan rate, subject to certain conditions, the company said in a release.
In addition, the scheme will offer a maximum of 90 percent financing on the total cost of the vehicle (road prices) for various people as salaried employees, autonomous, professionals, entrepreneurs and farmer, he added.
On the other hand, it can be used a maximum of 80 percent financing in the cost of the vehicle by corporate clients, the company said.
Tata Motors Passenger Vehicles Business Unit Vice President, Sales, Marketing and Customer Service Rajan Amba said: “Given the ramifications of the second wave of the pandemic, we, in Tata Motors, have always tried to make our solutions of personal mobility They are more affordable and accessible. For individuals and families at beneficial rates “.
The Association with the Bank of Maharashtra is aimed at offering special finance schemes to support the company’s customers in these difficult times, he added.
“We hope that these offers make the purchase process of a car is much easier for customers and that this will positively impact their general purchase experience of the Tata car,” said Amba.
The Executive Director of Bank of Maharashtra, Hemant Tamta, said: “We are optimistic that we can forge a great association and serve our customers with the best products and services.”
Tata Motors said the association also offers its clients an uncomplicated option of obtaining their approved loans with a zero processing fee until September 30, 2021 in “Dhamaka Monzon offer”.
Potential buyers can also take advantage of a special EMI option from RS 1,517 by Lakh for 7 years.
