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M&M ties up with UCO Bank for vehicle finance

M&M ties up with UCO Bank for vehicle finance
PTI
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First Published: Wed, Sep 16 2009. 06 13 PM IST
Updated: Wed, Sep 16 2009. 06 13 PM IST
New Delhi: Auto maker Mahindra & Mahindra Wednesday said it has entered into an agreement with UCO Bank for vehicle finance.
Under the MoU, UCO Bank will be a preferred financier for Mahindra’s vehicles in both the commercial and passenger segments, Mahindra & Mahindra (M&M) said in a statement.
“Customers can avail of a loan of up to 85% of the vehicle’s on-road price with a tenure of five years.
“UCO Bank’s vast network of over 2,000 branches will also help us to further strengthen our presence in India’s hinterland,” M&M Senior vice-president (Sales and Customer Care) Automotive Sector, Arun Malhotra said.
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First Published: Wed, Sep 16 2009. 06 13 PM IST