Tata Motors partners with Bank of Maharashtra on car loan scheme

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Tata Motors has teamed up with Bank of Maharashtra to offer car loan services for its line of New Forever passenger cars.

As part of the cooperation, Bank Maharashtra will provide loans to Tata Motors customers at an interest rate of 7.15% or more pegged to the repo-linked interest rate (RLLR), subject to certain conditions.

This “Maha Super Car Loan Scheme” will offer a maximum of 90% funding of the total vehicle value (road prices) for employees, self-employed people, professionals, businessmen and agronomists. Meanwhile, corporate clients can use a maximum of 80% of the financing of the car’s value.

Clients can also get their loans under this scheme, approved with zero processing fees until September 30, 2021. Prospective car buyers can also benefit from a dedicated EMI option starting with 1517 per lakh for 7 years.

Tata Motors-Maharashtra Bank the partnership also provided a 0.25 percent ROI rebate for corporate payroll account holders and existing home loan borrowers.

Customers can contact the nearest Tata Motors dealership or branch of Maharashtra Bank to take advantage of these schemes.

“Considering the consequences second wave of pandemic, we at Tata Motors have always tried to make our personal mobility solutions more affordable and affordable for individuals and families … We hope that these offers will make the car purchase process much easier for customers, and that this will be a positive will affect their overall experience of buying Tata vehicles, “said Rajan Amba, VP Sales, Marketing & Customer Service, PVBU, Tata Motors.

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