Tata Motors partners with Bank of Maharashtra for 90% financing for passenger vehicles

Tata Motors has partnered with the Bank of Maharashtra to finance up to 90% of the vehicle's on-road price, with the Rate of Interest starting at 7.15%. The offer is valid for all passenger vehicles made by Tata Motors.

By:August 16, 2021 6:33 PM
tata motors bank of maharashtra partner for vehicle finance

Tata Motors partners with the Bank of Maharashtra to offer special financing options for Tata’s passenger vehicles. The new partnership offers up to 90% financing schemes for the vehicle’s on-road price, with the Rate of Interest starting from 7.15%. The scheme is targeted at salaried employees, self-employed people, professionals, businessmen, and agriculturists, while corporate professionals can avail financing options up to 80% of the vehicle’s on-road price.

Customers can avail of the loans approved with zero processing fees until 30 September 2021, under the “Monsoon Dhamaka Offer”. Apart from this, customers can get EMI options starting with Rs.1517/- per lakh and get a 0.25% concession in the ROI for corporate salary account holders and existing housing loan borrowers.

Commenting on the occasion, Rajan Amba, Vice president, Sales, Marketing & Customer Care, PVBU, Tata Motors said, “Given the ramifications of the second wave of the pandemic, we, at Tata Motors, have always tried to make our personal mobility solutions more affordable and accessible for individuals and families at beneficial rates. We are pleased to announce our tie-up with the Bank of Maharashtra to offer special finance schemes, to extend our utmost support to our customers in these tough times. We hope that these offers will make the process of purchasing a car that much easier for customers and that this will positively impact their overall buying experience of Tata cars.”

Hemant Tamta, the Executive Director, Bank of Maharashtra, said, “We are thrilled to be a preferred financier in the personal segment of car finance with M/s TATA Motors Ltd., one of the world's leading automobile manufacturers. Known for our vast network of branches, unique loan features, and brand loyalty, we are optimistic that we can forge a great partnership and serve our customers with the best products and services.”

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