Tata Motors, Central Bank of India tie-up for vehicle finance

Tata Motors, Central Bank of India tie-up for vehicle finance
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First Published: Wed, Feb 18 2009. 02 38 PM IST
Updated: Wed, Feb 18 2009. 02 38 PM IST
Mumbai: India’s top bus and truck maker, Tata Motors Ltd, said on Wednesday it has entered into a tie-up with state-run Central Bank of India for financing its range of passenger vehicles.
This facility will be available at all 3,500 branches of Central Bank of India and 329 sales touch points of Tata Motors, the auto maker said in a statement.
Central Bank auto loans are for up to 85% of the on-road price, for up to 7 years, at 10.5% per annum for a 36 month tenure and 11.5% for more than 36 months.
Earlier this month, Tata Motors had similarly tied up with state-run Corporation Bank.
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First Published: Wed, Feb 18 2009. 02 38 PM IST