Tata Motors has entered into an understanding with J&K Bank Ltd., for financing its passenger vehicle customers. J&K Bank will facilitate eligible customers of Tata cars & UVs with vehicle financing, at attractive rates, across all J&K Bank branches, in India. The loan facility will be extended up to 7 years, with maximum funding. According to Mr. Ramesh Dorairajan, Head Retail, Channel Finance & Insurance, Tata Motors, “We are happy to tie-up with J&K Bank as we will be able to leverage the vast network of the bank for retail financing.
This partnership will also help the bank to further strengthen its position in retail loan space. We are confident that our growing network will further drive this tie up.” Mr. SK Bhat, President, J&K Bank, said, “The tie-up with Tata Motors will open new vistas for both, the company and the bank. We want to enhance the car loan finance segment and extend the car finance at competitive rates with speedy disposal. We have been among top performers in passenger car financing and we will extend every possible support to Tata Motors’ customers."