Mahindra Navistar Automotives, the commercial vehicle joint venture between Mahindra & Mahindra and US-based Navistar Inc, today said it has signed a pact with Bank Of India for financing its vehicles.
Under the MoU, Bank of India will be a preferred financier for the entire range of Mahindra Navistar Automotives' Light Commercial Vehicles which operates under the brand Loadking (Trucks) and Tourister (Buses), Mahindra Navistar Automotives said in a statement.
"Our partnership with Bank of India is a strategic one...Our customers can now avail of a loan of up to 85 per cent of the on road price of the vehicle," Mahindra Navistar Automotives Ltd Vice President (Sales and Marketing) Akhilesh Kumar Gupta said.
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