It seems that Tata Motors is targeting almost every bank for alliance to facilitate a wide range of services for its customers. After entering into an agreement with the Corporation bank, Central bank of India, Indian Bank, Andhra Bank, State Bank of Bikaner and Jaipur, the company has now join hands with more two banks. This time Tata Motors tied up with the Bank of Baroda and the Dena Bank.
Bank of Baroda is a public sector undertaking that deals with industry as well as retail segment. With more than 2900 branches spread across India, it will provide car loans up to 85% of the invoice price, for a term ranging up to 7 years, at a very competitive rate of 10.5% p.a.
Dena Bank is also a public sector undertaking accommodating the desires of industry as well as retail segment. It will offer car loans up to 80% of the invoice price, for tenure ranging up to 5 years, at an attractive interest rate of 11% p.a. This facility can be availed at all 1184 branches of the Dena Bank and 470 sales touch points of Tata Motors.