In order to provide an added facility of car finance to its customers, Tata Motors has entered into an understanding with Corporation Bank for financing its range of Passenger Vehicles.
Corporation Bank has lowered their car loan rates and now offers loan up to 85% of on road price, for tenure ranging up to 5 years, at a very competitive rate of 11.75% p.a. The bank will be processing the loan applications within 7 days.
This facility will be available at all 1,073 branches of Corporation Bank and 329 sales touch points of Tata Motors. The dealer network will be fully trained to explain the loan formalities and will help customers in completing the documentation required for availing car loans from the bank.
Both the organisations will jointly organise sales promotion activities and display each other’s products and offerings at their respective premises. This tie-up will provide a single window for both cars as well as car loans and will make car buying easier for customers.