On the occasion of International Women’s Day, Tata Motors has entered into a partnership with Bharatiya Mahila Bank, for financing its passenger vehicle customers. Bharatiya Mahila Bank Ltd. (BMB), is the first of its kind in India, formed with a vision to enable economic empowerment for women. With this association, BMB has become one of the preferred retail financiers of Tata Motors’ passenger car business and is going to help reach out to the growing women customer base of the bank.
BMB will be facilitating eligible customers of Tata Cars & UVs with vehicle financing, at an attractive rate of 10.5% for women customers, across all BMB branches, in India. The loan facility is extended up to seven years, with maximum funding.
Speaking on the occasion, Mr. Ankush Arora, Senior Vice President, Passenger Vehicles Business Unit (Commercial), Tata Motors, said, “On the occasion of Women’s Day, we are happy to tie-up with BMB. Through this association, we will be able to leverage the growing network of the bank for providing retail financing to our women customers. Currently, women customers account for 11% of our total customers base and through this tie-up we will scale-up our reach. We are confident that our growing network will further drive this tie-up and double our reach.”
According to Ms. Usha Ananthasubramanian, Chairperson and Managing Director, Bharatiya Mahila Bank, “The tie-up with Tata Motors will open new vistas for both, the company and the bank. We have twelve branches, one each in Delhi, Mumbai, Kolkata, Chennai, Ahmedabad, Indore, Bangalore, Guwahati, Chandigarh, Dehradun, Raipur and Lucknow and we further plan to expand in the state capitals and rural areas in a phased manner. Through this association we want to enhance the car loan finance segment and extend the car finance at competitive rates with speedy disposal to our growing customer base.”