Tata Motors ties up with Bhartiya Mahila Bank to enable easy vehicle financing for women

Saturday 08 March 2014, 10:24 AM by

Tata Motors has decided to celebrate International Women’s day in a unique style. The company has decided to form an association with Bhartiya Mahila Bank on March 8th, which is celebrated as the International Women’s day, for financing customers interested in buying Tata cars and UVs.

Bhartiya Mahila Bank Ltd (BMB) has pioneered to facilitate economic women empowerment for women in India. Through this pact, BMB will become the preferred retail financiers of the company’s passenger car division and will also be able to extend help to women customer base of BMB.

Tata Motors ties up with Bhartiya Mahila Bank to enable easy vehicle financing for women | CarTrade.com
Tata Motors ties up with Bhartiya Mahila Bank to enable easy vehicle financing f

Customers interested in buying Tata cars and UVs can take vehicle finance from BMB at a lucrative interest rate of 10.5 % which will be exquisite to women customers. The vehicle finance can be availed across all the branches of BMB in the country. Loan facility will be for a time span of up to seven years with maximum funding.

According to Mr. Ankush Arora, Senior Vice President, Passenger Vehicles Business Unit (Commercial), Tata Motors,“On the occasion of Women’s Day, we are happy to tie-up with BMB. Through this association, we will be able to leverage the growing network of the bank for providing retail financing to our women customers. Currently, women customers account for 11% of our total customers base and through this tie-up we will scale-up our reach.We are confident that our growing network will further drive this tie-up and double our reach.”

Ms. Usha Ananthasubramanian, Chairperson and Managing Director, Bharatiya Mahila Bank said,“The tie-up with Tata Motors will open new vistas for both, the company and the bank. We have twelve branches, one each in Delhi, Mumbai, Kolkata, Chennai, Ahmedabad, Indore, Bangalore, Guwahati, Chandigarh, Dehradun, Raipur and Lucknow and we further plan to expand in the state capitals and rural areas in a phased manner.Through this association we want to enhance the car loan finance segment and extend the car finance at competitive rates with speedy disposal to our growing customer base."

The bank will lay special focus on rural, urban, economically deprived, neglected and discriminated women. The bank will form a team of qualified and experienced professionals with expertise in banking to formulate new services and products depending on the requirement of women across segments like working women, HNIs, Corporates, entrepreneurs and Self Help Groups.