Tata Ties-up with Two More Banks

The Indian based car manufacturer Tata Motors is joining hands with many banks to provide better facility to its customers. Recently Tata was in news for its tie-up with State Bank of Bikaner and Jaipur and now again it has signed up agreement with two more banks.

The car manufacturer entered into an understanding with Indian Bank and Andhra Bank. The Indian Bank, which is a Public Sector Undertaking, provides services to industry as well as retail segment. The bank is spread across the country with over 1575 branches. The bank holds a strong position in the South India with more than 600 branches. Indian Bank is providing car loans up to 85% of on road price, for term ranging up to 7 years, at a very competitive rate of 11.5% p.a.

Similarly Andhra Bank also has a strong industrial as well as retail clientele. The bank is spread across the country with nearly 1430 branches. The bank offers car loans up to 90% of invoice, for term up to 6 years with a competitive rate of 11.75%. Beside this, the Andhra Bank is also offering 0.50% concession in the rate of interest for women

Bothe the banks will provide this facility across all its branches and 470 sales points of Tata Motors.