In order to provide an added facility of car finance to its customers, Tata Motors has entered into an understanding with State Bank of Travancore for financing its range of passenger vehicles.
State Bank of Travancore is one of the largest public sector undertakings in the country catering to the needs of industry as well as retail segment. The bank has 723 branches spread across the country.
The bank currently offers car loans up to 85 per cent of the on road price, for tenure ranging up to 7 years. It is offering car loans at rates frozen at 10 per cent up to May 15, 2010 for loans sanctioned on or before April 30, 2009.
The finance facility will be available at all branches of the bank and also at Tata Motors 470 sales touch points.
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