Tata Motors enters into tie-up with Central Bank of India for financing its Passenger Vehicles range

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In order to provide an added facility of car finance to its customers, Tata Motors has entered into an understanding with Central Bank of India for financing its range of Passenger Vehicles.

Central Bank of India is one of the largest 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 3500 branches spread all over the country.

Central Bank of India offers car loans up to 85% of on road price, for tenure ranging up to 7 years, at a very competitive rate of 10.5% p.a (for a 36 month tenure) and 11.5% p.a (for tenures greater than 36 months).

This facility will be available at all 3500 branches of Central Bank of India and 329 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.

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