Tata Motors has entered into an agreement with J&K Bank to facilitate financing for its passenger car customers. Through this arrangement the bank has become a preferred financer for Tata Motors’ passenger car division.
The loan facility will allow customers to purchase Tata cars and utility vehicles at attractive rates from all branches of the bank across the country. The loan facility will be extended up to 7 years with maximum funding.
Speaking on the tieup Ramesh Dorairajan, head retail, channel finance and insurance, Tata Motors said, “We are happy to tie up with J&K Bank as we will be able to leverage the vast network of the bank for retail financing.”
Echoing his sentiments was SK Bhat, president, J&K Bank, “The tie up with Tata Motors will open new vistas for both, the company and the bank. We want to enhance the car loan finance segment and extend the car finance at competitive rates with speedy disposal.”
