Tata Motors & BOI Team up to Finance New Vehicles


Tata Motors has with Bank of India (BOI) to offer finance options to all its passenger vehicle customers. Through this partnership, BOI would offer loans to Tata Motors' customers at an interest rate beginning from as low as 6.85%, the company states in a statement.

Alongside, the scheme would also offer a maximum of 90 percent financing on the total cost of the vehicle, that includes insurance and registration, it added.

Customers could also choose for EMI starting with 1,502 per lakh on a seven-year repayment period, the company said.

Rajan Amba, Vice President, Sales, Marketing & Customer Care, Passenger Vehicle Business Unit, Tata Motors says, "This partnership is in line with our #FinancEasy Festival, wherein we are collaborating with multiple finance partners across India to make ownership of cars accessible, as well as a hassle-free process for the customers and thereby adding to the celebrations of this festive season.”

BOI General Manager - Retail Business Rajesh Ingle said Bank of India has reoriented the banking services with retail customer as focal point by designing products that are aligned to customer needs.

He adds, "Our vehicle loan products with lowest rate of interest is one such product. Bank's tie-up with Tata Motors will be win-win for customers in the sense that they can access best in class personal mobility solution with the best finance option from Bank of India."

The offers through the partnership will be applicable on the New Forever range of conventional cars and SUVs as well as on EVs for personal segment buyers across the country, the statement said.