March 07, 2014

Tata Motors partners with BMB to enable easy car financing for women customers

On the occasion of International Women's Day, Tata Motors will enter into an understanding with Bharatiya Mahila Bank (BMB), for financing its passenger vehicle customers. BMB is the first-of-its-kind in India, formed with a vision to enable economic empowerment for
women. With this association, BMB will be one of the preferred retail financiers of Tata Motors' passenger car business and will be able to help reach out to the growing women customer base of the bank.

BMB will facilitate eligible customers of Tata Cars & UVs with vehicle financing, at an attractive rate of 10.5 per cent for women customers, across all BMB branches, in India. The loan facility will be extended up to seven years, with maximum funding.

"On the occasion of Women's Day, we are happy to tie-up with BMB. Through this association, we will be able to leverage the growing network of the bank for providing retail financing to our women customers. Currently, women customers account for 11 per cent of our total customers base and through this tie-up we will scale-up our reach. We are confident that our growing network will further drive this tie-up and double our reach," said Ankush Arora, Senior Vice-President, Passenger Vehicles Business Unit (Commercial), Tata Motors.

Usha Ananthasubramanian, CMD, Bharatiya Mahila Bank added, "The tie-up with Tata Motors will open new vistas for both, the company and the bank. We have twelve branches, one each in Delhi, Mumbai, Kolkata, Chennai, Ahmedabad, Indore, Bangalore, Guwahati, Chandigarh, Dehradun, Raipur and Lucknow and we further plan to expand in the state capitals and rural areas in a phased manner. Through this association we want to enhance the car loan finance segment and extend the car finance at competitive rates with speedy disposal to our growing customer base."


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