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Tata Motors partners with Andhra Bank for financing commercial vehicles

Oct 21, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --

Companies: Andhra Bank Ltd (ANHBF), Tata Motors Ltd (TTM)

Tata Motors Limited, a manufacturer of medium and heavy commercial vehicles, has entered into a memorandum of understanding with Andhra Bank, a provider of banking and financial services, for financing Tata Motors' range of commercial vehicles to provide an added facility of finance to its customers. Both the companies are based in India.

Andhra Bank will offer loans for Tata Motors' commercial vehicles up to 85% of the on-road cost for a tenure ranging up to six years, at a rate of 12.5%.

The facility will be available at all 1,550 branches of Andhra Bank and commercial vehicle dealerships of Tata Motors. 

Deal Type    Partnership
Sub-Category Co-Marketing
Deal Status  Completed: 2009-10-20

Deal Participants 

Partner 1 (Company) Andhra Bank
Partner 2 (Company) Tata Motors Limited

Copyright (C) 2009 Datamonitor Financial Deals Tracker. All rights reserved

News Provided by COMTEX

Companies: Andhra Bank Ltd (ANHBF), Tata Motors Ltd (TTM)


Related terms: bank, banking, commercial, finance, financial services, india, manufacturer, marketing, partnership

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