To provide easy car finance to its customers Tata Motors has entered into an understanding with Corporation Bank for financing its range of Passenger Vehicles. According to the understanding Corporation Bank has lowered their car loan rates to11.75% p.a.

 

Corporation Bank has agreed to offer loan up to 85% of on road price, for tenure ranging up to 5 years. The bank will also be processing the loan applications within 7 days. The easy car loan facility will be available at all 1,073 branches of Corporation Bank and 329 sales touch points of Tata Motors.

 

The dealer network will be fully trained to explain the loan formalities. They will help customers in completing the documentation required for availing car loans from the bank. Both Tata Motors and Corporation Bank will jointly organize sales promotion activities at their respective premises. They will also display each other's products and offerings at these premises. This tie-up will provide a single window for both cars as well as car loans and will make car buying easier for customers.