Tata Motors and Bank of Maharashtra have joined hands and launched a new 'Maha Super Car Loan' scheme in a bid to make Tata cars more accessible to customers.
As part of the tie-up, the Bank of Maharashtra will provide loans to people who are interested in buying a Tata car at an interest rate starting from as low as 7.15% linked with Repo Linked Lending Rate (RLLR), subject to certain conditions. This scheme will offer a maximum of 90% financing on the total cost of the vehicle (on-road pricing) for various individuals like salaried employees, self-employed people, professionals, businessmen, and agriculturists, whereas a maximum of 80% financing can be availed on the cost of the vehicle by corporate clients.
This partnership is also offering customers a hassle-free option of getting their loans approved with zero processing fee till 30th Sept 2021 under the ‘Monsoon Dhamaka Offer’. People can get benefit from an easy and quick sanction of loans with no pre/part payment charges. That’s not all, future car owners can also take advantage of a special EMI option starting with INR 1,517 per lakh for 7 years. In addition to the above, the partnership has laid out a 0.25% concession in the ROI for corporate salary account holders and existing housing loan borrowers.
Commenting on the rollout of these finance schemes, Mr. Rajan Amba, Vice president, Sales, Marketing & Customer Care, PVBU, Tata Motors, said, “Given the ramifications of the second wave of the pandemic, we, at Tata Motors, have always tried to make our personal mobility solutions more affordable and accessible for individuals and families at beneficial rates. We are pleased to announce our tie-up with the Bank of Maharashtra to offer special finance schemes, to extend our utmost support to our customers in these tough times. We hope that these offers will make the process of purchasing a car that much easier for customers and that this will positively impact their overall buying experience of Tata cars.”
To benefit from the above schemes, customers can reach out to their nearest Tata Motors dealer or through the Bank of Maharashtra branch, register their interest in buying a Tata car.