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Tata Motors ties up with Indian Bank for retail finance

Tata Motors,on Thursday said it has tied up with public sector lender Indian Bank for providing financing facilities.

Written by Agencies | New Delhi | Published: March 19, 2009 1:24:16 pm

India’s largest auto maker,Tata Motors,on Thursday said it has tied up with public sector lender Indian Bank for providing financing facilities to its passenger vehicle customers.

“In order to provide an added facility of car finance to its customers,Tata Motors has entered into an understanding with Indian bank for financing its range of passenger vehicles,” the company said in a statement.

As per the agreement,financing facilities would be available at 1,575 branches of the lender and 470 sales touch points of the auto major across the country,it added.

At present Indian Bank offers car loans up to 85 per cent of on-road price for tenure up to seven years at an interest rate of 11.5 per cent per annum.

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