Tata Motors, India’s largest commercial vehicle manufacturer, has signed a Memorandum of Understanding (MoU) with South Indian Bank to offer convenient financing solutions to its commercial vehicle customers and dealerships. South Indian Bank will offer financing across the entire commercial vehicle portfolio, and customers will benefit from the bank’s wide network and specially curated easy repayment plans.
The alliance represents a significant stride towards providing enhanced support to dealerships, fostering growth, minimising collateral requirements, lowering rate of interest and streamlining credit processing. Tata Motors provides a wide range of cargo vehicles and mass mobility solutions, catering to logistics and mass mobility needs. South Indian Bank offers flexible, competitive financing to dealers, providing attractive interest rates, flexible terms, and efficient processing.
Both companies offer reliable financial support for dealers seeking growth and support in the logistics and mass mobility sectors. Mr. P R Seshadri, MD & CEO, South Indian Bank, “We are confident that our partnership with Tata Motors will result in best-in-class financing solutions, setting a new industry benchmark for excellence.” Adding to that, Mr. Rajesh Kaul, Vice President & Business Head – Trucks, Tata Motors Commercial Vehicles, said, “We are delighted to announce our partnership with the reputed South Indian Bank, which understands the needs of our customers.”
