In order to provide an added facility of car finance to its customers, Tata Motors has entered into an understanding with Punjab National Bank for financing its range of passenger cars.
Punjab National Bank 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 4604 branches including extension counters spread all over the country.
Punjab National Bank offers car loans up to 90% of invoice, for tenure ranging up to 7 years, at a very competitive rate of 10.5% to 11%.
This facility will be available at all 4604 branches of Punjab National Bank 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.