Tata Motors, India’s biggest automobile company, has signed up a contract with Union Bank of India with the aim to finance its range of passenger vehicles.
The company’s aim is to offer an additional facility of car finance to its clientele.
The banking institution provides car loans up to 85% of invoice, for term ranging up to 5 years, at a very competitive rate of 11% to 11.25%.
The facility will be available at UBI divisions and 329 sales touch points of Tata Motors.