Tata Motors ties-up with Andhra Bank for vehicle financing

Tata Motors ties-up with Andhra Bank for vehicle financing
PTI
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First Published: Tue, Oct 20 2009. 01 40 PM IST
Updated: Tue, Oct 20 2009. 01 40 PM IST
Mumbai: Tata group company, Tata Motors on Tuesday entered into an understanding with Andhra Bank for financing its range of commercial vehicles.
Andhra Bank will offer loans for Tata Motors commercial vehicles up to 90% of the on-road cost (including vehicle cost, road tax and insurance), for a tenure ranging up to 6 years, at a competitive rate of 12.5%, the company said in a statement here.
The tie-up would provide an added facility of finance to Tata Motors’ customers.
This facility would be available at all the 1,550 branches of Andhra Bank and commercial vehicle dealerships of Tata Motors.
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First Published: Tue, Oct 20 2009. 01 40 PM IST