Indian Bank and Tata Motors have inked a Memorandum of Understanding (MoU) that would allow Indian Bank to provide appealing financing options to clients of Tata Motors commercial vehicles and authorised dealerships nationwide. Arrangements of attractive interest rates accompanied by swift credit facilities will be offered by the bank. As a result of this transaction, Tata Motors’ complete range of commercial vehicles, including electric and LNG, will be offered distinctive financing options. Further, both Indian Bank and Tata Motors intend to significantly increase the extent of their dealer finance relationship.
Ashutosh Choudhury, the Executive Director of Indian Bank affirmed his excitement over the event and noted that they are happy to have made an agreement with Tata Motors which will see the banking institution extend tailor-made financing solutions to the automobile giant’s dealerships and fleet managers.
Vice President and Business Head for Trucks at Tata Motors, Rajesh Kaul, stated that the company wants to improve the financial ecosystem for its dealer network by making financing options more convenient and streamlining credit access. This will enable the dealers to grow their business and offer their valued customers more convenience.
