South Indian Bank and Tata Motors signs MoU

The alliance represents a significant stride towards providing enhanced support to dealerships, fostering growth, minimizing collateral requirements, lowering the rate of interest, and streamlining credit processing.

South Indian Bank and Tata Motors signs MoU

Tata Motors, India’s largest commercial vehicle manufacturer, has signed a Memorandum of Understanding (MoU) with South Indian Bank to offer convenient financing solutions to its commercial vehicle customers and dealerships. South Indian Bank will offer financing across the entire commercial vehicle portfolio, and customers will benefit from the bank’s wide network and specially curated easy repayment plans.

The alliance represents a significant stride towards providing enhanced support to dealerships, fostering growth, minimizing collateral requirements, lowering the rate of interest, and streamlining credit processing.

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Tata Motors offers an extensive range of sub-1-tonne to 55-tonne cargo vehicles and 10-seater to 51-seater mass mobility solutions, ranging in small commercial vehicles and pickups, trucks, and bus segments to address the evolving needs of logistics and mass mobility segments. The company ensures unparalleled quality and service commitment through its extensive network of 2500+ touchpoints, manned by trained specialists and backed by easy access to Tata Genuine Parts.

South Indian Bank excels in dealer finance by providing unmatched financial solutions to dealers nationwide. Leveraging on its extensive branch network and deep understanding of the industry, the Bank offers flexible, competitive financing to dealership needs. The Bank supports dealers in their growth with attractive interest rates, flexible terms, and efficient processing, making it the preferred choice for dealers seeking reliable financial support.

 

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Speaking on the development, Mr. P R Seshadri, MD & CEO, of South Indian Bank,

 “At South Indian Bank, we are dedicated to fostering a secure, agile, and dynamic banking environment tailored to the needs of fleet owners and dealerships. Our collaboration with Tata Motors enables us to deliver seamless vehicle financing solutions to commercial vehicle dealers and customers. We are confident that our partnership with Tata Motors will result in best-in-class financing solutions, setting a new industry benchmark for excellence.”

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