Montra Electric, the electric vehicle Brand from Murugappa Group has signed a Memorandum of Understanding (MoU), with the Telangana Grameena Bank (TGB), a regional rural bank sponsored by the State Bank of India (SBI) to enter into a strategic vehicle financing arrangement for its customers.
This MoU will enable Montra Electric and Telangana Grameena Bank to support customers and make it easier for them to own a Montra Electric Super Auto with loans having lower interest rates and longer tenure. Under this arrangement, TGB will be able to provide end-to-end financial solutions to the customers of Montra Electric.
Sushant Jena, Head, Montra Electric 3W Division said, “With the combined strength of Telangana Grameena Bank and Montra Electric, our dealers will now have financing solutions to suit their needs. As India gallops towards a greener and more sustainable mobility solution, we want to make it easier for our customers to become a part of this journey. With lower interest rates and longer tenure periods on the loans, owning and operating a Super Auto will become easier than ever and will prove to be easy on the driver’s pocket along with its impact on the environment.”
Y Sobha, Chairman, Telangana Grameena Bank said, “Customer experience goes to the heart of how we think and manage our business and our relationship with the customer. This tie-up opens up multiple opportunities for both institutions. The bank will finance Montra Electric’s customers for the purchase of vehicles as well as provide any other financial services required by them. This strategic arrangement goes a long way in protecting the environment as also our Bank’s commitment to green business.”
