Tata Motors joins hands with SBBJ for retail finance

Tata Motors joins hands with SBBJ for retail finance
PTI
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First Published: Mon, Mar 16 2009. 12 40 PM IST
New Delhi: Auto maker Tata Motors today said it has tied up with public-sector lender State Bank of Bikaner and Jaipur for providing retail finance facilities to customers of passenger vehicles.
“In order to provide an added facility of car finance to its customers, Tata Motors has entered into an understanding with State Bank of Bikaner and Jaipur (SBBJ) for financing its range of passenger vehicles,” the company said in a statement.
According to this tie-up, financing facility would be available at all branches of SBBJ and 470 sales touch points of Tata Motors, it added.
SBBJ is a part of the State Bank Group, which has pan India presence with about 860 branches.
The lender at present offers car loans up to 85% of the on-road price, for tenure ranging up to seven years. It is offering car loans at rates frozen at 10% till 31 May, 2010, for loans sanctioned on or before 31 May, 2009.
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First Published: Mon, Mar 16 2009. 12 40 PM IST