16 March, 2009
In order to provide an added facility of car finance to its customers, Tata Motors has entered into an understanding with State Bank of Bikaner and Jaipur (SBBJ) for financing its range of passenger vehicles.
State Bank of Bikaner and Jaipur is part of the State Bank Group catering to the needs of industry as well as retail segment. The bank has pan India presence with about 860 branches spread all over the country.
State Bank of Bikaner and Jaipur offers car loans up to 85% of the on road price, for tenure ranging up to 7 years, at a very competitive rate. SBBJ is offering car loans at rates frozen at 10% up to 31.05.2010 for loans sanctioned on or before 31.05.2009.
This facility will be available at all branches of State Bank of Bikaner and Jaipur and 470 sales touch points of Tata Motors. This tie-up will make car buying easier for customers.
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)