Updated April 29th, 2024 at 13:52 IST

Tata Motors ropes-in South Indian Bank for easy access of commercial vehicle finance

Tata Motors offers an extensive range of sub-1-tonne to 55-tonne cargo vehicles and 10-seater to 51-seater mass mobility solutions

Reported by: Business Desk
Tata Motors | Image:Tata Motors

Tata Motors CV financing: In an endeavour to provide easy access to loans for prospective commercial vehicle buyers, the country’s leading CV maker Tata Motors on Monday signed a Memorandum of Understanding (MoU) with South Indian Bank, said a statement. As per the statement, the roping-in of South India Bank will 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,” said the statement. The Tata Motors and South Indian Bank partnership represents a significant stride towards providing enhanced support to dealerships, fostering growth, minimising collateral requirements, lowering the rate of interest and streamlining credit processing, added the statement. 


P R Seshadri, MD & CEO, 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," Seshadri added. 


Rajesh Kaul, Vice President & Business Head – Trucks, Tata Motors Commercial Vehicles, said, "We are delighted to announce our partnership with the reputed South Indian Bank, which understands the needs of our customers. For our customers, easy access to financing solutions for their commercial vehicles is one of the key priorities for their operations,” 

“Our alliance aims to empower fleet owners and dealerships to achieve their business goals. We look forward to providing greater convenience and support to our valued customers and partners," Kaul further added. 


CV range of products 

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 buses 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.


Published April 29th, 2024 at 13:52 IST