Tata Motors has announced that it has entered into a partnership with Indian Bank to facilitate financing for its passenger vehicle customers.

This strategic partnership aims to provide customised loans from across over 5,700 branches of Indian Bank across India, the company said in a statement.

As per a press note, the  financing will be available at attractive interest rates starting as low as 7.80 percent. The scheme will provide up to 90 percent  financing on road funding, with repayment terms of up to 7 years. Customers can foreclose or provide partial payments at no additional fees. Tata Motors’ customers can also register for the finance options through Tata Motors’ dealers across the country.

Ramesh Dorairajan, Senior General Manager – Network Management & EV Sales, Tata Motors Passenger Vehicles, “We have always aimed at making our personal mobility solutions more affordable and accessible for our customers, contributing to the joy of the overall ownership experience. Our partnership aims to provide a hassle-free experience to our customers and thereby add to the fervour of the upcoming festive season.”

Imran Amin Siddiqui, Executive Director, Indian Bank, “Indian Bank has a wide presence all over the country and we are confident of offering best-in-class services, including our digital-lending process to Tata Motors customers for meeting their aspiration of owning a car. We are committed to making the car financing experience more convenient for customers.”