Indian auto major, Tata Motors has decided to collaborate with J&K Bank to finance its popular cars and Utility Vehicles (UV) for suitable customers. The loans provided by bank at attractive rates can be extended up to a maximum period of 7 years. As per the collaboration, the financing authority will be one of the preferred financial partners for Tata Motors' passenger vehicles, utilising the bank's vast network.
According to Ramesh Dorairajan, Head Retail, Channel Finance & Insurance, Tata Motors, “We are happy to tie-up with J&K Bank as we will be able to leverage the vast network of the bank for retail financing. This partnership will also help the bank to further strengthen its position in retail loan space. We are confident that our growing network will further drive this tie up.”
Stating similar sentiments, SK Bhat, President of J&K Bank, commented, “The tie-up with Tata Motors will open new vistas for both, the company and the bank. We want to enhance the car loan finance segment and extend the car finance at competitive rates with speedy disposal. We have been among top performers in passenger car financing and we will extend every possible support to Tata Motors’ customers.”
