Home BusinessTata Motors, Vijaya Bank in tie-up for financing vehicles
Tata Motors has tied up with Vijaya Bank for financing its range of commercial and passenger vehicles to provide an added facility of finance to its customers.
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Vijaya Bank will offer loans for Tata Motors’ commercial vehicles up to 85 per cent of the on-road cost, which will include vehicle cost, road tax and insurance, for tenure up to 5 years, at 11.25 per cent and for passenger cars the rates are 8.5 per cent for first year and then 10 per cent for balance 4 years.
This facility will be available at all the 1,139 branches of the bank and commercial and passenger vehicle dealerships of Tata Motors.