Tata Motors, Equitas SFB sign MoU to offer financial solutions for Small Commercial Vehicle customers

Tata Motors signs a five-year MoU with Equitas SFB, to offer financial solutions to small commercial vehicle buyers. Tata Motors will leverage Equitas SFB’s network across the country to make these solutions accessible for customers.

By:November 8, 2021 7:11 PM
tata, equitas sign mou

Tata Motors has signed a five-year Memorandum of Understanding (MoU) with Equitas SFB, to offer financial solutions to its customers. With benefits applicable across the Tata Motors small commercial vehicle (SCV) range, this tie-up will aim to facilitate seamless availability of financing. Tata Motors will leverage Equitas SFB’s network across the country to make these solutions accessible for customers.

Commenting on this partnership, Rohit Gangadhar Phadke, the Senior President and Head – Retail Assets, Equitas Small Finance Bank, said, “We are happy to be associated with Tata Motors Limited at such an early stage of the Bank’s journey. Through this partnership, Equitas would reach a large set of financially excluded segments to help them buy their first commercial vehicle from Tata Motors Limited. Equitas Small Finance Bank has always believed in uplifting the underserved and unserved segment of the society to drive financial inclusion.”

Speaking about the same, Rajesh Kaul, the Vice President, Sales and Marketing, Commercial Vehicle Business Unit, Tata Motors, said, “We are delighted to partner with Equitas SFB, one of India’s leading small finance banks, to make our extensive range of vehicles available to a larger set of customers, with easy financing and flexible repayment options. With an extensive 3 million customer database and sustained years of expertise in the sector, Equitas SFB will help us extend beneficial offerings to CV customers across the nation.”

“Tata Motors has consistently placed customer welfare at the centre of its endeavours, striving to bring them profitable value propositions. The Ace and the Intra range have redefined the last-mile transportation, with their comfort, reliability and low cost of ownership. With this partnership, we will join forces with Equitas SFB to continue our dedicated efforts to serve our customers.”

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