Tata Motors ties up with HDFC, ICICI and many others for financial assistance to CV customers

Tata Motors tie-up with banks and lenders: Some of these financing solutions will target large corporate customers and individual customers with large fleets in the M&HCV space.

By:Updated: Jan 21, 2021 1:05 PM

Tata Motors has entered into partnerships with several private banks, NBFCs, and public sector banks in order to offer its commercial vehicle customers an array of financial offerings. These banks include HDFC Bank, ICICI Bank, Yes Bank, Equitas Small Finance Bank, AU Small Finance Bank, and NBFCs like Cholamandalam Investment and Finance Co Ltd, HDB Financial Services, Sundaram Finance, and newly merged entities of public sector banks – Union Bank, and Punjab National Bank.

These tie-ups are aimed at enhancing value offerings for customers of both, new as well as pre-owned vehicles. Additionally, offerings arising out of these tie-ups will include ancillary financial provisions such as fuel financing, working capital financing, aggregate financing, and service cost financing to enable customers to avail attractive financial schemes from all the partner financiers with minimal formalities.

Tata Motors has always sought to amplify the ownership experience of customers by providing them with offerings that are both convenient and valuable. We are thrilled to join hands with leading public and private sector banks and NBFCs, who are leaders in their respective spaces and are highly experienced in driving a customer-centric CV financing approach, Rajesh Kaul, Vice President, Sales & Marketing, Commercial Vehicles Business Unit, Tata Motors said.

Also read: Tata Motors commercial vehicle prices to go up from January 2021

“Our partnership will certainly add value and leverage our common strengths to meet the ever-evolving needs of our customers. We are confident of an increased reach in customer categories, product segments, and geographies and hope that this will help us serve our customers in an efficient and delightful manner in the future as well.”

Through these partnerships, Tata Motors aims to cater to the various needs of its customers, such as making organised finance available in rural markets, using technology-based solutions to offer vehicle finance and working capital finance, including service cost funding for the CV customers to assist them in yielding more money from their business to meet increasing working capital demands.

Customers will also be offered Fuel Cards – products that help the customers meet fuel expenses. Some of these financing solutions will target large corporate customers and individual customers with large fleets in the M&HCV space.

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