Tata Motors ties up with Bandhan Bank for passenger vehicle finance

Tata Motors on Wednesday said it has tied up with Bandhan Bank for retail finance for its range of passenger vehicles.

As part of the tie-up, Bandhan Bank will provide loans to Tata Motors' customers at an interest rate starting from as low as 7.5 per cent, the automaker said in a statement.

The scheme will offer a maximum of 90 per cent financing on the total on-road cost of the vehicle, it added.

Customers can also enjoy a benefit of special EMI options with a repayment tenor of up to seven years and the bank has also designed certain exclusive features like zero charges on foreclosure and part payment, Tata Motors said.

"This partnership is a part of 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," Tata Motors Passenger Vehicle Business Unit Vice President (Sales, Marketing & Customer Care) Rajan Amba noted.

The company hopes that these offers will make the process of purchasing Tata cars much easier for customers and that this will positively impact their overall buying experience, he added.