Bharatiya Mahila Bank will provide retail finance to customers of Tata Motors. The bank and the automobile company have signed an agreement to this effect recently. Tata Motors said Bharatiya Mahila Bank will be one of the preferred retail financiers of the company’s passenger car business and will be able to help reach out to the growing women customer base of the bank. The bank will facilitate eligible customers of Tata cars and utility vehicles with vehicle financing, at a rate of 10.5% for women customers, across all Bharatiya Mahila Bank branches in India. The loan facility will be extended up to seven years, with maximum funding. Currently, women customers account for 11% of the company’s total customer base and through this tie-up Tata Motors will scale-up its reach. Commenting on the tie-up, Bharatiya Mahila Bank chairperson and managing director Usha Ananthasubramanian said through this association the bank wants to enhance the car loan finance segment and extend the car finance at competitive rates with speedy disposal to growing customer base.
