Tata Motors has partnered with Bandhan Bank to offer financing options for its range of passenger vehicles. According to the MoU, Bandhan Bank will finance up to 90% of the vehicle’s on-road price, while interest rates start from 7.50% onwards. Customers have a repayment tenor of up to 7 years, while there are no foreclosure or part payment charges. The financing scheme is available for all Tata passenger vehicles that include ICEs and EVs.
Commenting on the association, Rajan Amba, Vice President, Sales, Marketing & Customer Care, Passenger Vehicle Business Unit, Tata Motors said, “We, at Tata Motors, have always aimed to make our personal mobility solutions more affordable and accessible for individuals and families at beneficial rates. We are delighted to join hands with Bandhan Bank and this partnership is a part of our #FinancEasy Festival, wherein we are collaborating with multiple finance partners across India to make ownership of cars accessible, as well as a hassle-free process for the customers and thereby adding to the celebrations of this festive season. We hope that these offers will make the process of purchasing our cars much easier for customers and that this will positively impact their overall buying experience of Tata cars.”
According to Kamal Batra, Head – Assets, Bandhan Bank, said, “We are pleased to partner with Tata Motors as preferred financier for car loans. With this association, we are hopeful to leverage the extensive reach of both brands in rural, semi-urban and urban markets and enable many Indians to fulfil their dreams of owning their personal vehicles. With zero part payment and foreclosure charges and at competitive pricing, Bandhan Bank car loans will appeal to the target markets. This tie-up is evidence of the Bank’s ongoing endeavour to partner the needs of emerging India.”