New Delhi: Tata Motors has joined hands with public sector lender Corporation Bank to provide retail financing facilities for its passenger vehicles.
In order to provide an added facility of car finance to its customers, Tata Motors has entered into an understanding with Corporation Bank for financing its range of passenger vehicles, the Tata Group firm said in a statement.
Under the agreement, financing facilities would be available at all 1,073 branches of the lender and 329 sales touch points of the auto maker, it added.
Tata Motors also said that both the organisations would jointly organise sales promotion activities and display each other’s products and offerings at their respective premises.
This tie-up will provide a single window for both cars as well as car loans and will make car buying easier for customers, it added.
The company pointed out that Corporation Bank has lowered its car loan rates and currently offers loan up to 85% of on-road price, for up to 5 years, at a rate of 11.75% per annum.