International Tractors Ltd. (Sonalika Group) recently announced its partnership with L&T Finance (LTF) for tractor financing. The Partnership aims at providing easy credit and financing benefits to Sonalika’s customers across the country. Marked with attractive interest rates, customized repayment options and additional benefits for farmers, the association shall prove to be a boon for prospective Sonalika buyers in the country.
The company plans to sell more than1 lac tractors in FY-15. L&T Finance which offers a wide spectrum of financial products and services for trade, industry and agriculture, is looking to further expand its base in rural retail financing. This strategic partnership will bring synergy for both the companies while benefitting their existing markets.
Commenting on the same Mr. A.S Mittal, Vice Chairman, International Tractors Ltd said “ Our country ranks second in farm output and Mechanization of farming has played a crucial role in increasing agricultural productivity with tractors and farm equipment forming an integral part of this overall growth . As a consumer centric company, our policy has been to maximize grass root benefits for our customers. With this tie-up we hope to reach out to those customers who are in need of tractors and are looking for funds to buy them. This tie-up will provide easy and hassle free finance options for them.”
Adding to this Raman Mittal, Executive Director, ITL said “At Sonalika, We relentlessly look at options to provide the best schemes to our customers and give them the power of choice. This strategic agreement is a step in the same direction. L&T finance offers innovative products and services at affordable rates. With highly competitive schemes for Tractors, we are hopeful of a good response from our dealers and customers“.