Guwahati News Desk: India’s leading automotive manufacturer Tata Motors joined hands with the Bank of Maharashtra to make available the ‘Maha Super Car Loan scheme’ for its customers.
Bank of Maharashtra will provide loans to Tata Motors’ customers at an interest rate starting from as low as 7.15 per cent linked with Repo Linked Lending Rate (RLLR), subject to certain conditions. This scheme will offer a maximum of 90 per cent financing on the total cost of the vehicle (on-road pricing) for various individuals like salaried employees, self-employed people, professionals, businessmen, and agriculturists, whereas a maximum of 80per cent financing can be availed on the cost of the vehicle by corporate clients.
This partnership is also offering its customers a hassle-free option of getting their loans approved with zero processing fee till September 30, 2021 under “Monsoon Dhamaka Offer”. Customers can get benefit from an easy and quick sanction of loans with no pre/part payment charges. Future car owners can also take advantage of a special EMI option starting with Rs.1517/- per lakh for 7 years. The partnership has laid out a 0.25per cent concession in the ROI for corporate salary account holders and existing housing loan borrowers.
Commenting on the rollout of these finance scheme offers, Vice president, Sales, Marketing & Customer Care, PVBU of Tata Motors Rajan Amba said, “Given the ramifications of the second wave of the pandemic, we, at Tata Motors, have always tried to make our personal mobility solutions more affordable and accessible for individuals and families at beneficial rates. We are pleased to announce our tie-up with the Bank of Maharashtra to offer special finance schemes, to extend our utmost support to our customers in these tough times. We hope that these offers will make the process of purchasing a car that much easier for customers and that this will positively impact their overall buying experience of Tata cars.”
Whereas, Executive Director of Bank of Maharashtra Hemant Tamta said, “We are thrilled to be a preferred financier in the personal segment of car finance with M/s TATA Motors Ltd., one of the world’s leading automobile manufacturers. Known for our vast network of branches, unique loan features, and brand loyalty, we are optimistic that we can forge a great partnership and serve our customers with the best products and services.”
Tata Motors also recently announced that it has put in place a comprehensive ‘Business Agility Plan’ to protect and serve the interests of its customers, dealers, and suppliers for the well-being of its business and supporting ecosystem.