AMW Motors Ltd., India’s 3rd largest heavy commercial vehicle manufacturer, announced tie up with SBI for financing the entire range of AMW commercial vehicles (Medium & Heavy). This financial tie up will greatly help AMW Motor to boost its sales.
According to the MOU, SBI branches will offer competitive rates of interest to customers for the purchase of any model from the M&HCV range of AMW vehicles. The facility will be available on Fully Built vehicles, Chassis as well as bodybuilding. The agreement also provides for loan support for registration, taxes and Insurance. Existing customers of AMW as well as First Time Users (FTU) can avail of the facility.
SBI’s spokesperson, while confirming the agreement, said that it would make available more and easier financing opportunities as SBI is India’s largest banking institution with a network that reaches the remotest destinations.
Mr. A. Ramasubramanian, President AMW Motors Ltd said “SBI’s vast urban and rural network will enable truck operators from all over the country to access easy and competitive financing. We will organize joint customer meets with bank officials and work closely with them to ensure that the benefits of this partnership will be made available to all commercial vehicle buyers.”
AMW expects that this agreement with SBI will act as a great incentive for its dealers and sales offices in the country and help continue its aggressive growth plans.