Tata Motors has entered into an understanding with the State Bank of Hyderabad (SBH) for financing to customers of Fiat cars through the Tata-Fiat dealer network.
Customers can avail loans up to 85 per cent of the “on-road price”, for tenure ranging up to 7 years, at an attractive interest rate of 10.25 - 10.75 per cent p a for new Fiat cars of their choice from the Fiat Linea, the Fiat Palio Stile and recently launched Fiat Grande Punto.
This facility will be available at all the branches of SBH (except Service branches) and the 100 sales touch points of Tata-Fiat distribution Network. This tie-up will provide consumers a single window for availing loans for the whole range of Fiat cars distributed by Tata Motors.
Commenting on this funding tie-up, Subodh Marathe, Tata Motor’s Country Head (Fiat Product Group) said, “Tata Motors has always been at the fore-front of introducing multiple customer centric initiatives. We felt that the strong product range from Fiat could be leveraged further with easy financing options for interested customers.”
SBH 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 pan-India presence with about 1034 branches spread all over the country.
