Auto major Tata Motors today said it has tied up with the United Bank of India to provide financing schemes on its commercial vehicles.
"With this tie-up, the United Bank of India will offer loans for Tata Motors' commercial vehicles to both existing and new transport operators up to 90 per cent of the cost of vehicle, for a tenure ranging up to 5 years," the company said in a statement.
No collateral security will be required on funding up to Rs 10 lakhs for cases done under Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTSME), the company said.
This facility will be available at all 1,555 branches of the bank and commercial vehicle dealerships of Tata Motors, it added.
