On the occasion of International Women’s Day, Tata Motors will enter into an understanding with Bharatiya Mahila Bank, for financing its passenger vehicle customers. Bharatiya Mahila Bank Ltd. (BMB), is the first of its kind in India, formed with a vision to enable economic empowerment for women.
BMB will facilitate eligible customers of Tata Cars & UVs with vehicle financing, at an attractive rate of 10.5% for women customers, across all BMB branches, in India. The loan facility will be extended up to seven years, with maximum funding. Special attention will be given to economically neglected, deprived, discriminated, unbanked, rural and urban women to ensure inclusive and sustainable growth.
According to Mr. Ankush Arora, Senior Vice President, Passenger Vehicles Business Unit (Commercial), Tata Motors, “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% of our total customer 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.”