Tata Motors ties up with Karnataka Bank


PTI, Jan 4, 2021, 2:23 PM IST

Mumbai: Tata Motors on Monday announced its partnership with Karnataka Bank to facilitate retail finance solutions for its customers to boost sales.

Under this collaboration, customers can avail up to 85 per cent loans on the on-road pricing of a Tata Motors vehicle with an interest rate linked to External Benchmark Lending Rate (EBLR), which will be updated on the bank”s website periodically, Tata Motors said in a release.

The loan under the scheme can be availed for a maximum period of 84 months.

Tata Motors has signed a Memorandum of Understanding (MoU) with Karnataka Bank in a joint effort to introduce attractive financing offers for its customers to purchase their favourite Tata car, the company said.

Customers can now take advantage of a variety of schemes on their future vehicle purchase available across 857 branches of Karnataka Bank which include 199 semi urban and 67 rural branches, making vehicle buying easy and affordable nationwide, Tata Motors said.

“We are elated to be partnering with Karnataka Bank to introduce attractive finance schemes for our customers. This is in alignment with our constant endeavour to make safe personal mobility solutions more accessible to individuals and families.

“We hope that these offers will boost customer morale and make the process of purchasing a car more convenient for all, ” said Rajan Amba, Vice President for sales and marketing at passenger vehicle business unit of Tata Motors.

The scheme can also be availed by customers who are agriculturists and are owners of farming lands as well as by Non Resident Indians (NRIs), among others, the automaker said in the release.

“This partnership with Tata Motors will be another milestone in our efforts to meet the aspirations of our esteemed customers .Tata Motors will now offer preferred financier status to our bank for financing acquisition of four wheelers manufactured by the company,” said Mahabaleshwara M S, Managing Director & CEO of Karnataka Bank.

The proposition becomes even more attractive for the customer with Karnataka Bank now offering car loans through an end-to-end digital platform developed in house for existing as well as new customers, he said.

“I am sure this partnership will turn out to be a win-win arrangement for both the brands in their future growth journey,” he added.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Virat Kohli doesn’t need our support, but we need the support of Kohli: Bumrah

INDIA bloc seeking JPC probe into Adani ‘scam’, govt scared of debate: Congress after LS, RS adjourned

Burglars decamp with cash Rs 1 crore, 300 gold sovereigns from house in Kerala

Raut demands re-election, alleges irregularities in EVMs during Maharashtra polls

Perth Test: Bumrah leads India to its biggest Test win on Australian soil

Sambhal violence: FIR against SP MP Zia-ur-Rehman Barq, SP MLA’s son

Six junior artists of Kannada film ‘Kantara’ injured in accident in Karnataka

Related Articles More

Rapid digital expansion to create over 1 lakh new jobs in fiber tech in India in next 5 years

Choose correct ITR to report foreign assets; 2 lakh such returns filed: CBDT official

Air India Express increases flight operations from northeast destinations

Mcap of 8 of top-10 most-valued domestic firms jumps Rs 1.55 lakh cr; HDFC Bank, TCS sparkle

Myntra pilots foray into quick commerce with ‘M-Now’ in select locations of Bengaluru

MUST WATCH

Coconut Flower

Prakash Belawadi

Naxal Leader Vikram Gowda

Christmas Cake Fruit Mixing

DK Shivakumar


Latest Additions

Delhi Police arrests man for stealing gold jewellery worth Rs 1 crore

Virat Kohli doesn’t need our support, but we need the support of Kohli: Bumrah

INDIA bloc seeking JPC probe into Adani ‘scam’, govt scared of debate: Congress after LS, RS adjourned

Ranbir on criticism for doing ‘Sanju’, ‘Animal’: Important to dabble in different genres, characters

Youth Congress demands Adani’s arrest over USD 250 mn bribery charge

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.