Tata Motors has entered into an understanding with the United Bank of India for financing its range of commercial vehicles to provide an added facility of finance to its customers.
With this tie-up, the United Bank of India will offer loans for Tata Motors’ commercial vehicles to both Existing and New Transport operators upto 90% of the cost of vehicle (including chasis, body, insurance and registration) , for a tenure ranging upto 5 years, at competitive rates. No collateral security will be required on funding upto Rs 10 lakhs for cases done under CGTSME.
This facility will be available at all 1,555 branches of the bank and commercial vehicle dealerships of Tata Motors.