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

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30 March, 2009

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

United Bank of India is one of the largest Public Sector Banks in the country catering to the needs of industry as well as retail segment. The bank has pan India presence with a network of 1450 branches including extension counters across the country.

United Bank of India offers car loans up to 90% of on-road price, for tenure ranging up to 6 years, at a very competitive and attractive rate of interest.

This facility will be available at all 1450 branches of United Bank of India and 470 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 customers.

United Bank of India has also been empanelled for the Nano Booking Retail Finance with Tata Motors.

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)

About United Bank of India

Established in 1950, United Bank of India (UBI) with its headquarter at Kolkata is a reputed pan-India Public Sector Bank with conspicuous presence in the eastern and north eastern parts of the country. UBI is growing with its involvement and commitments in the overall development of the nation with the priority accorded by our Government.

To face the challenges of the 21st century banking, UBI has devised customised and tech savvy products designed to meet the needs of the customer. At the same time it has not lost sight of the importance of rural economy and more particularly the agriculture and allied activities as well as the SME sector which are the prime source of occupation of our populace. The bank operates through a nationwide network of 1450 branches and 28 regional offices. (www.unitedbankofindia.com)

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