Tata Motors Joins Hands with PSU Banks

The current economy crisis has taken a good toll over the Indian car industry and in order to push the sales and support customers the financial firms support the car manufacturers.

TATA motors have taken the assistance of banks to offer attractive and easy car loans. The company has ventured with Corporation bank and the Central bank of India to provide car loans to their customers.

The banks are offering upto 85% of the on road price of the car. Corporation bank offers loan term of up to 5 years, whereas the Central bank offers the same up to 7years. The Corporation bank offers the loan across all its 1073 branches and 329 sales touch points of TATA motors at a competitive interest rate of 11.75% per annum.

The Central bank also offers smart loan rates for Tata customers at the interest rate of 10.5% p.a (for tenure of 36 months) and 11.5%p.a (for tenure above 36months). The loans offered from all their 3500 branches and 329 sales touch points of TATA motors.

Tata's joint promotional activity with these PSU banks will ease the car buying process for its customers.

Source: http://blog.carazoo.com/2008/03/car-manufacturers-are-committed-to-keep.html