Tata Motors And Bank Of India Join Hands For Easy Finance Options
Tata Motors has signed an MoU with Bank of India (BOI) for providing easy finance options to all its passenger vehicle customers.
Through this tie-up, Tata Motors customers can avail loans at an interest rate starting from 6.85 percent, while receiving a maximum of 90 percent financing on the total cost of the vehicle. The EMI option starts at INR 1,502 per lakh on a seven-year repayment period. Other services include zero processing charges till 31 March 2022, FOIR (Fixed Obligation to Income Ratio) calculation for loans and higher loan amount eligibility for Tata cars.
These offers will be applicable on the New Forever range of ICE Cars and SUVs as well as on EVs for personal segment buyers across the country.
Rajan Amba, Vice President – Sales, Marketing and Customer Care, Passenger Vehicle Business Unit, Tata Motors, said, “We at Tata Motors have always tried to make our mobility solutions more affordable and accessible for individuals and families at beneficial rates. We are delighted to join hands with the Bank of India and this partnership is in line with our #FinancEasy Festival, wherein we are collaborating with multiple finance partners across India to take ownership of cars accessible, as well as a hassle-free process for the customers and thereby adding to the celebrations of this festive season. We hope that these offers will make the process of purchasing our cars much easier for customers and that this will positively impact their overall buying experience of Tata cars.” (MT)