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Another great value to customers

Tata Motors and State Bank of Indiajoin forces to offer innovative financial solutions to commercial vehicle customers.

 

  • Tata Motors will leverage SBI’s rural reach throughthis 3-year Memorandum of Understanding (MoU).

  • SBI’sContactless Lending Platform technology to be deployed to ensure uniformity,transparency and a reduced Turn Around Time (TAT) in the loan approval process.

  • Applicableacross Tata Motors’ small and light commercial vehicles.


Tata Motors, India’s largest commercial vehicle manufacturer, has inked a three-yearMoU with the State Bank of India (SBI), the country’s leading public sectorbank, to offer unique financial assistance for the purchase of Tata Motors’range of small and light commercial vehicles. Through this partnership, the twobusiness entities will exercise SBI’s Contactless Lending Platform technology toensure uniformity, transparency and a reduced turnaround time in the loanapproval process.

Girish Wagh,President, Commercial Vehicles Business Unit, Tata Motors said, “Extending our earnest commitment to bringprofitable value propositions to our customers, we are delighted to join handswith the largest bank in the country, the State Bank of India. With a pan-Indiareach and more than 22,000 branches, SBI has an extensive network across thecountry, and through this partnership, we hope to strengthen our reach,especially in rural areas, aiding employment as well as providing unique andinnovative financial assistance to our customers. We remain confident thatthrough our collaboration, we will leverage our common strengths, and continueto serve our customers with dedication and zeal.”

Adds C S Setty, Managing Director, Retail andDigital Banking, State Bank of India, “We look forward to leveragingthis mutually benefitting collaboration and offer some unique financialservices to CV customers and dealers across India. Through our innovativeContactless Lending Platform technology, we hope to further amplify the bankingexperience of customers and strive to extend a 360-degree benefit toretailers.”

Tata Motors’ diverse small and light commercial vehicle portfolio hasbeen extremely successful in the overall CV ecosystem. This collaboration withSBI will allow Tata Motors’ CV customers to avail loans in a hassle-free manneras well as access SBI’s unique technology-laden offerings. This partnershipwill introduce easy loan structured schemes which will help mitigate the cost differencebetween the BS4 and the BS6 vehicles for both, down payment as well as the EMIof the vehicle.

The BS6 range ofTata Motors CVs are engineered on the ‘Power of 6’ philosophy, which offers thebest in terms of comfort and convenience, profitability, performance, safetyand security, and offers a great value to the customers. The robust andreliable vehicles are supported by value-added services like the Sampoorna Seva2.0, Tata Samarth – Tata Motors’ commitment to commercial vehicle driverwelfare, uptime guarantee, customised annual maintenance and fleet managementsolutions.


FromLeft: Rajesh Kaul, Vice President – Sales and Marketing, Commercial VehiclesBusiness Unit, Tata Motors and Subhash Chand Joinwal, Chief General Manager(SME & SCF), SBI.


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