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Tata Motors has signed retail finance MoU with Bank of India (BOI) to offer finance options to all its passenger vehicle customers. As part of the tie-up, BOI will provide loans to Tata Motors’ customers at an interest rate starting from as low as 6.85%. This scheme will offer a maximum of 90% financing on the total cost of the vehicle (Ex-showroom pricing + Insurance + Registration). Customers can also get EMI option starting with 1502 per lakh on a 7-year repayment period.

Earlier, the homegrown company collaborated with Equitas SFB to help small commercial vehicle buyers.

These offers will be applicable on the New Forever range of ICE Cars and SUVs as well as on EVs for personal segment buyers across the country. The Bank will be charging Zero processing charges till 31st March 2022 for Tata Motors car buyers. 

Rajan Amba, Vice President, Sales, Marketing & Customer Care, Passenger Vehicle Business Unit, Tata Motors said, “We, at Tata Motors, have always tried to make our personal mobility solutions more affordable and accessible for individuals and families at beneficial rates. We are delighted to join hands with the Bank of India and this partnership is in line with our #FinancEasy Festival, wherein we are collaborating with multiple finance partners across India to make ownership of cars accessible, as well as a hassle-free process for the customers and thereby adding to the celebrations of this festive season. We hope that these offers will make the process of purchasing our cars much easier for customers and that this will positively impact their overall buying experience of Tata cars."

Rajesh Ingle, General Manager - Retail Business said “Bank’s Tie-up with Tata Motors will be win-win for customers in the sense that they can access Best in class personal mobility solution with the Best finance option from Bank of India".

To avail the above schemes, customers can reach out to their nearest Tata Motors dealer or through the Bank of India branch.

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