Tata Motors partners with Bajaj Finance for commercial vehicle financing

Tata Motors, India's largest commercial vehicle manufacturer, has signed a Memorandum of Understanding (MoU) with Bajaj Finance, where the latter will offer financing solutions for Tata Motors' entire commercial vehicle portfolio.

Customers will benefit from the company’s wide reach, competitive interest rates, flexi loan and digitally-enabled loan processing, the press release noted. 

Rajesh Kaul, Vice President and Business Head – Trucks, Tata Motors Commercial Vehicles, said, "We are confident that their inaugural venture into commercial vehicle financing will allow them to tap the immense potential that the transportation sector brings in, and this partnership will benefit entrepreneurs across the country. With Bajaj Finance’s wide network in rural and urban areas, customers will have easy access to financing solutions as per their requirements." 

Anup Saha, Deputy Managing Director, Bajaj Finance, "Our partnership with Tata Motors exemplifies this commitment. With our best-in-class process by using India stack, we aim to make the process of purchasing a commercial vehicle accessible and hassle-free. We are confident that the partnership will empower more commercial vehicle owners with financing solutions."

Tata Motors offers an extensive range of sub 1-tonne to 55-tonne cargo vehicles and 10-seater to 51-seater mass mobility solutions, ranging in small commercial vehicles and pickups, trucks and buses segments to address the evolving needs of logistics and mass mobility segments. The company ensures unparalleled quality and service commitment through its extensive network of 2500+ touchpoints, manned by trained specialists and backed by easy access to Tata Genuine Parts.

Bajaj Finance is one of the most diversified NBFCs in India with a presence across lending, deposits and payments, serving over 83.64 million customers. As of March 31, 2024, the company’s assets under management stood at Rs 3,30,615 crore.