In order to provide an added facility of car finance to its customers, Tata Motors has entered into an understanding with Andhra Bank for financing its range of passenger vehicles.
Andhra Bank is one of the premier Public Sector Undertakings in the country catering to the needs of industry as well as retail segment. The bank has pan India presence with about 1430 branches spread all over the country.
Andhra Bank offers car loans up to 90% of invoice, for tenure ranging up to 6 years, at a very competitive rate of 11.75% repayable in 36 months, and 12% repayable in > 36 months. For the womenâ€™s segment, a 0.50% concession in the rate of interest will be given.
This facility will be available at all branches of Andhra Bank and 470 sales touch points of Tata Motors. This tie-up will provide a single window for both cars as well as car loans and will make car buying easier for customers.