In order to provide an added facility of car finance to its customers, Tata Motors has entered into an understanding with Bank of Baroda for financing its range of passenger vehicles.
Bank of Baroda, a public sector undertaking, caters to the needs of industry as well as retail segment. The bank has pan India presence with over 2900 branches spread all over the country. It has recorded over 50% growth in the auto loan segment during the first 11 months of this fiscal.
Bank of Baroda offers car loans up to 85% of the invoice price, for tenure ranging up to 7 years, at a very competitive rate of 10.5% p.a.
This facility will be available at all 2900 branches of Bank of Baroda 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 the customers.