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Tata Motors enters into tie-up with Bank of India for financing its passenger car range of vehicles Press kit

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6 March, 2009

In order to provide an added facility of car finance to its customers, Tata Motors has entered into an understanding with Bank of India for financing its range of passenger cars.

Bank of India offers car loans upto 90 % of invoice, for loans up to Rs 10.00 lacs for tenure ranging upto 6 years, at a very competitive rate of 10.25% to 10.75 %.

This facility will be available at all Metro, urban and semi-urban branches of Bank of India and 329 sales touch points of Tata Motors. This tie-up will provide a single window for both cars as well as car loans and will make car buying easier for the customers.

Bank of India is one of the largest Public Sector Undertakings in the country catering to the needs of industry, exports, agriculture as well as retail segment. The bank has international presence with around 3000 branches in India and 74 extension counters spread all over the country. Bank of India has won the award of Top Public sector Bank and best Public sector bank under Best Bank and Overall Best bank in the DUN & BRADSTREET BANKING AWARDS 2008.

About Tata Motors

Tata Motors is India’s largest automobile company, with revenues of US$ 8.8 billion in 2007-08. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand and Spain. Among them is Jaguar Land Rover, a business comprising the two iconic British brands. It also has a strategic alliance with Fiat. With over 4 million Tata vehicles plying in India, Tata Motors is the country’s market leader in commercial vehicles and among the top three in passenger vehicles. It is also the world’s fourth largest truck manufacturer and the second largest bus manufacturer. Tata cars, buses and trucks are being marketed in several countries in Europe, Africa, the Middle East, South Asia, South East Asia and South America. (www.tatamotors.com)

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