Tata group owned Tata Motors and Bangalore based Corporation Bank has signed a deal aimed to provide easy finance facilities to customers for purchase of passenger cars. The deal may help the company, facing low demand in auto sector under the impact of global slowdown and recession like conditions across the world.

Meanwhile, Corporation Bank has said that it would complete loan section process with in seven days, offering very competitive auto loan interest rate of 11.75% per annum with tenure up to five years according to rules and regulations of bank. The easy finance facility would make available across all 1,073 branches of Corporation Bank and 329 sales touch points of Tata Motors. Special teams of salesmen have been formed to provide assistance in document collection and loan formalities, making vehicle finance very easy and attractive for customers.

Similarly, Tata Motors and Corporation Bank would jointly advertise for new schemes and promotional offers, helping customers to avail cars loans without any inconvenience.

Tata Motors has already announced new schemes and offers for some selected models, making car baying easy and providing safe, fuel efficient and value for money mobility solution in the country.