5 August, 2013
Tata Motors has entered into an understanding with UCO Bank (formerly United Commercial Bank), for financing its range of commercial vehicles, to provide an added facility of finance to its customers.
Through this tie-up, UCO Bank will offer loans of upto 85% on a Tata Motors commercial vehicles on-road pricing. At very competitive rates starting at 11.50% p.a and tenure of upto 7 years, this facility will be available through all Tata Motors and UCO Bank outlets.
The MOU was signed by Mr. Ashish Tandon – Regional Manager, East, Tata Motors, in the presence of Mr. Sudhanshu Verma – Head, Trade Finance, Tata Motors and by Mr. N. Mohanty, GM, SME, UCO Bank in the presence of Mr. S. Satpathy, (DGM, SME), UCO Bank.
Tata Motors is committed to offering value and continues to launch initiatives that offer more to its customers. Tata Motors recently doubled warranty to an unbeatable 4 years, on its entire range of heavy trucks, with 25 tonnes and higher GVW (Gross Vehicle Weight). With this, Tata Motors has become the first company in India to offer a standard warranty of 4 years on heavy trucks.