The home grown auto maker Mahindra has formed an association with the State Bank of Patiala, this tie-up will enable customers to avail vehicle loan from any of the 1,175 branches of the bank scattered in the country. Mr. P Purshottam Behera, general manager, State Bank of Patiala (planning) and Arun Malhotra, chief sales and customer, Mahindra inked the memorandum.
Mr. S A Ramesh Rangan, MD, State Bank of Patiala looks at it as a futuristic approach which will provide better customer satisfaction. The symbioses between the bank and auto maker will benefit not just the bank and auto maker but will also result in improved customer service. State Bank of Patiala and Mahindra have agreed mutually to consolidate their respective resources in promoting market and also offering a framed finance facility at affordable rates to the valuable customers.
Commenting on the tie-up Mr. Arun Malhotra, chief sales & customer care officer, automotive division, Mahindra said that the company is working on options to offer lucrative finance schemes to the customers with ample options to pick from. Mahindra’s tie-up with State Bank of Patiala is a crucial step towards materializing this initiative. He further said that as per analyses, around 80% of the company’s vehicles are financed out of which 15% loans are availed from PSU banks.
Various lucrative products and services are proffered by the State Bank of India at competitive rates including a number of affordable car and c.v loan schemes. The company is expecting to receive a good response from customers and dealers with the onset of this tie-up.
