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Tata Motors and (SBI) State Bank of India has signed a three-year Memorandum of Understanding to offer unique financial assistance. The partnership will provide solutions to purchase the brand's range of small and light commercial vehicles.
The financial solutions give to commercial vehicle buyers will make use of the bank's contactless lending platform technology. This will ensure uniformity, transparency and a reduced turnaround time in the loan approval process.
This collaboration will allow CV customers to avail a vehicle loan in a hassle-free manner. According to the company, the new financial schemes will help mitigate the price difference between BS4 and BS6 vehicles. It will help customers to reduce the burden of down payment as well as the EMI of the vehicle.
According to the company, the BS6 commercial vehicle range from Tata Motors offers comfort and convenience, profitability, performance, safety and security and great value to the customers.
Additionally, the brand is also offering after-sales services such as the Sampoorna Seva 2.0 and Tata Samarth. These services will ensure driver welfare, uptime guarantee, customised annual maintenance and fleet management solutions.
Mr Girish Wagh, President of, Commercial Vehicles Business Unit, Tata Motors said, "Extending our earnest commitment to bring profitable value propositions to our customers, we are delighted to join hands with the largest bank in the country, the State Bank of India. With a pan-India reach and more than 22,000 branches, SBI has an extensive network across the country, and through this partnership we hope to strengthen our reach, especially in rural areas, aiding employment as well as providing unique and innovative financial assistance to our customers. We remain confident that through our collaboration, we will leverage our common strengths, and continue to serve our customers with dedication and zeal."
Commenting on this partnership, Mr C. S. Setty, Managing Director, Retail and Digital Banking, State Bank of India said, "We look forward to leveraging this mutually benefitting collaboration and offer some unique financial services to CV customers and dealers across India. Through our innovative Contactless Lending Platform technology, we hope to further amplify the banking experience of customers and strive to extend a 360-degree benefit to retailers."
Thoughts About The Tata Motors & SBI Partnering To Provide Attractive Financial Solutions
Buying a Tata Motors commercial vehicle now becomes easier due to the new finance schemes introduced by the partnership. Customers can avail of quick and easy loan approvals across India. Tata Motors is also providing a host of after-sales services to keep the vehicle running at all times.