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Tata Motors partners with Bank of Maharashtra to provide finance options on PV range

By Ruchi Upadhyay 
Updated Date

Tata Motors has joined hands with Bank of Maharashtra to offer the ‘Maha Super Car Loan Scheme’ to the customers of its passenger vehicle (PV) range, which includes the Tata Tiago, Tata Tigor, Tata Altroz, Tata Nexon, Tata Harrier and Tata Safari.

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As part of the tie-up, the public sector lender will provide loans to customers of Tata Motors at an interest rate starting from 7.15 per cent, subject to certain conditions. The scheme will offer up to 90 per cent financing on the total cost of the vehicle (on-road pricing) for various individuals like salaried employees, self-employed people, professionals, traders and agriculturists, while a maximum of 80 per cent of the cost of the vehicle by corporate customers. But financing can be availed.

Under the partnership, the customers can get their loans approved with zero processing fee till September 30, 2021, under ‘Monsoon Dhamaka Offer’. They can benefit from 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 1,517 per lakh for seven years. Additionally, the partnership has laid out a 0.25 per cent concession in the ROI for corporate salary account holders and existing housing loan borrowers.

“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 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,” said Rajan Amba, Vice president, Sales, Marketing & Customer Care, PVBU, Tata Motors.

“We are thrilled to partner with Tata Motors, one of the world’s leading automobile manufacturers, to be a preferred financier in the personal segment of car finance. Known for our vast network of branches, unparalleled credit facilities and brand loyalty, we are optimistic We can build a great partnership and serve our customers with the best products and services,” said Hemant Tamta, Executive Director, Bank of Maharashtra Live TV

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