Tata Motors has signed a Memorandum of Understanding (MoU) with State Bank of India (SBI) to offer unique financing solutions for the purchase of the all-new Tata Ace EV. Through this partnership, Tata Motors will leverage SBI’s strong network to make these solutions accessible to customers.
Commenting on this partnership, Mr. Rajesh Kaul, Vice President, Sales & Marketing, Commercial Vehicle Business, Tata Motors, said, “We are delighted to join hands with the largest bank in the country, the State Bank of India, to offer unique, seamless financing schemes for the Tata Ace EV customers. The MoU has further strengthened our aim to make Tata Ace EV more accessible to customers. We are confident that our collaboration will fast-track our efforts towards sustainable mobility and support the nation’s net-zero aspirations.”
Highlights of SBI Finance Policy for Tata Ace EV
90% funding of the on-road price of the vehicle
Loan tenure of up to six years
Digitally-enabled loan sanction process
No collateral security is required for a loan
