India’s third largest heavy commercial vehicle manufacturer, AMW Motors Ltd (AMW) announced that the Company had entered into an agreement with the State Bank of India for the financing of sales of the entire range of AMW Medium & Heavy commercial vehicles. This national level tie-up through State Bank of India’s network of over 13,000 branches across the country will provide a great fillip to AMW’ sales.
According to the MOU, SBI branches will offer competitive rates of interest to customers for the purchase of any model from the M&HCV range of AMW vehicles. The facility will be available on Fully Built vehicles, Chassis as well as bodybuilding. The agreement also provides for loan support for registration, taxes and Insurance. Existing customers of AMW as well as First Time Users (FTU) can avail of the facility.
SBI’s spokesperson, while confirming the agreement, said that it would make available more and easier financing opportunities as SBI is India’s largest banking institution with a network that reaches the remotest destinations.
Mr. A. Ramasubramanian, President AMW Motors Ltd said “ SBI’s vast urban and rural network will enable truck operators from all over the country to access easy and competitive financing. We will organize joint customer meets with bank officials and work closely with them to ensure that the benefits of this partnership will be made available to all commercial vehicle buyers.”
AMW expects that this agreement with SBI will act as a great incentive for its dealers and sales offices in the country and help continue its aggressive growth plans.