Tata Motors said on Monday it has entered into partnerships with leading private banks and non-banking finance companies (NBFCs) to offer an array of financial offerings to its commercial vehicle customers. It has tied up with HDFC Bank, ICICI Bank, Yes Bank, Equitas Small Finance Bank, AU Small Finance Bank and the newly-merged entities of public sectors Union Bank and Punjab National Bank. The NBFCs include Cholamandalam Investment and Finance, HDB Financial Services and Sundaram Finance.
These strategic tie-ups aim to enhance value offerings for customers of both new as well as pre-owned vehicles throughout the customer lifecycle.
Besides, offerings arising out of these tie-ups will include ancillary financial provisions such as fuel financing, working capital financing, aggregate financing and service cost financing to enable customers to avail financial schemes from all partner financiers with minimal formalities.
“Our partnership will certainly add value and leverage our common strengths to meet the ever-evolving needs of our customers,” said Rajesh Kaul, Vice President for sales and marketing at commercial vehicles business unit.
“We are confident of an increased reach in customer categories, product segments and geographies and hope that this will help us serve our customers in an efficient and delightful manner in the future as well,” he said in a statement.