In order to provide an added facility of car finance to its customers, Tata Motors has entered into an understanding with Canara Bank for financing its range of passenger vehicles.
Canara Bank is one of the largest Public Sector Undertakings in the country catering to the financial needs of industry as well as retail segment. The bank has pan India presence with about 2,729 branches and 2,006 ATMs spread all over the country.
Canara Bank offers car loans up to 90% of â€œon-road costâ€, for tenure ranging up to 7 years, at a very competitive rate of 11.00%.
This facility will be available at all the 2,729 branches of Canara 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.