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Tata Motors & Bharatiya Mahila Bank Tie Up Offer Car Loan To Women
Tata Motors has tied up with Bharatiya Mahila Bank (BMB) on the occasion of International Women's day to offer easy finance option to female car buyers.
Eligible Tata Motors passenger and utility vehicle customers will be provided each financing by BMB at a rate of 10.5 percent. This financing option is available in all BMB branches across India and is available only for female Tata Motor customers. The loan period can be extended up to a maximum period of seven years.
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Though Tata Motors' & BMB's special car finance is available to all women the emphasis will be on women from economically backward, unbanked and rural areas.
Ankush Arora, Senior Vice President, Passenger Vehicles Business Unit (Commercial), Tata Motors, "On the occasion of Women's Day, we are happy to tie-up with BMB. Through this association, we will be able to leverage the growing network of the bank for providing retail financing to our women customers. Currently, women customers account for 11% of our total customers base and through this tie-up we will scale-up our reach. We are confident that our growing network will further drive this tie-up and double our reach."
Usha Ananthasubramanian, Chairperson and Managing Director, Bharatiya Mahila Bank said, "The tie-up with Tata Motors will open new vistas for both, the company and the bank. We have twelve branches, one each in Delhi, Mumbai, Kolkata, Chennai, Ahmedabad, Indore, Bangalore, Guwahati, Chandigarh, Dehradun, Raipur and Lucknow and we further plan to expand in the state capitals and rural areas in a phased manner. Through this association we want to enhance the car loan finance segment and extend the car finance at competitive rates with speedy disposal to our growing customer base."
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