Tata Motors ties up with UBI for financing passenger vehicles
Auto maker Tata Motors said it has tied up with public sector lender United Bank of India for providing retail finance facilities to customers buying its passenger vehicles.autos Updated: Mar 30, 2009 13:48 IST
Auto maker Tata Motors on Monday said it has tied up with public sector lender United Bank of India for providing retail finance facilities to customers buying its passenger vehicles.
"In order to provide an added facility of car finance to its customers, Tata Motors has entered into an understanding with United Bank of India for financing its range of passenger vehicles," the company said in a statement.
As per the agreement, customers can avail finance from 1,450 branches of the lender and 470 sales touch points of the auto major, it added.
United Bank of India would offer car loans up to 90 per cent of the on road price of the vehicle for tenure ranging up to six years.
The Kolkata based financial institution has also joined hands with Tata Motors for Nano's finance, the statement said.