Tata Motors, Fiat Cars, Fiat Linea, Fiat Palio, Fiat Grande Punto, Indian Bank Loan Services, Fiat Finance Options

Home grown auto major Tata Motors has signed a deal with Indian Bank to finance Fiat cars in India. As per the new deal with the bank, Fiat customers can avail up to 85 percent of the on-road price and a repayment period of seven years.

Indian bank will charge up to 11.50 percent per annum as interest on the total loan amount. The loans will be available on Fiat cars like Linea, Palio, and the recently launched hatchback Grande Punto. This loan facility will be available at all the 1,646 outlets of the bank and at the 100 sales points of Tata-Fiat distribution network.

Tata Motors and Fiat have entered into a joint venture to share marketing and servicing facilities for customers in the country. As such all cars marketed by Fiat will get to leverage the network of Tata Motors. Tata Motors already has an understanding with most banks for financial support for its products. This is the first time Tata Motors singed an agreement on behalf of Fiat India Automobiles.