Tata Motors and Bank of Maharashtra join hands to introduce new financing schemes

- The new finance scheme will offer a maximum finance up to 90 per cent of the on-road cost of the vehicle 

- Zero processing fee can be availed of as a part of the Monsoon Dhamaka offer up to 30 September, 2021

Tata Motors has joined hands with the Bank of Maharashtra to make available the ‘Maha Super Car Loan scheme’ to all its customers. As part of the tie-up, the Bank of Maharashtra will provide loans to Tata Motors’ customers at an interest rate starting from 7.15 per-cent, linked with Repo Linked Lending Rate (RLLR), subject to certain conditions. This scheme will offer a maximum of 90 per cent financing on the total cost of the vehicle (on-road pricing) for various individuals like salaried employees, self-employed people, professionals, businessmen, and agriculturists, whereas a maximum of 80 per cent financing can be availed on the cost of the vehicle by corporate clients. 

This partnership is also offering its customers an option of getting their loans approved with zero processing fee till 30 September, 2021 under the Monsoon Dhamaka offer. Customers can also take advantage of a special EMI option starting with Rs 1,517 per lakh for seven years. In addition to the above, the partnership has laid out a 0.25 per cent concession in the ROI for corporate salary account holders and existing housing loan borrowers.

Commenting on the occasion, Rajan Amba, Vice president, Sales, Marketing and Customer Care, PVBU, Tata Motors, said, “Given the ramifications of the second wave of the pandemic, 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 pleased to announce our tie-up with the Bank of Maharashtra to offer special finance schemes, to extend our utmost support to our customers in these tough times. We hope that these offers will make the process of purchasing a car that much easier for customers and that this will positively impact their overall buying experience of Tata cars.”