Tata Motors, the largest commercial vehicle maker of the country, has entered into an agreement with Andhra Bank, one of the largest public sector undertakings in the country catering to the financial needs of industry as well as retail segment, for financing its range of commercial vehicles to provide an added facility of finance to its customers.

Under the deal, the lender will offer loans for Tata Motors' commercial vehicles up to 90% of the on-the road cost (including vehicle cost, road tax and insurance), for up to 6 years, at an interest rate of 12.50% per annum.

Tata Motors stated in a communiqué that the facility will be available at all the 1550 branches of the bank and commercial vehicle dealerships of the company.