Bank of Baroda (BoB) and Maruti Suzuki India, have signed a Memorandum of Understanding (MoU) whereby dealers of Maruti cars would apprise prospective Maruti car-buyers about the car-loan advantages of the bank and help them in applying for it.
The nearest branch of the bank will promptly process the application and disburse the loan within 48-hours, a press release issued here today said.
Currently, the bank provides car loans at a competitive rate of 11.25 per cent, the release said.
This tie-up will cover over 600 Maruti dealers and over 2,800 branches of BoB across the country.