Collaboration with SBI allows Tata Motors’ CV customers avail finance

The BS6 range of Tata Motors commercial vehicles (CV) are engineered on the ‘Power of 6’ philosophy, which offers the best in terms of comfort and convenience, profitability, performance, safety and security and offers a great value to the customers. The collaboration allows Tata Motors’ CV customers to access SBI’s unique technology-laden offerings.

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(L to R): Rajesh Kaul, Vice President – Sales & Marketing, Commercial Vehicles Business Unit, Tata Motors and Subhash Chand Joinwal, Chief General Manager (SME & SCF), SBI Bank during the MoU signing.

Tata Motors, India’s largest CV manufacturer, inked a three-year MoU with the State Bank of India (SBI), to offer unique financial assistance for the purchase of Tata Motors’ range of small and light commercial vehicles. In addition to inducing employment, this collaboration will also stir demand for Tata Motors’ BS6 range of vehicles. Through this partnership, the two business entities will exercise SBI’s Contactless Lending Platform technology to ensure uniformity, transparency and a reduced turnaround time in the loan approval process.

On the occasion Girish Wagh, President, Commercial Vehicles Business Unit, Tata Motors said, “Extending our earnest commitment to bring profitable value propositions to our customers, we are delighted to join hands with the largest bank in the country, the SBI. With a pan-India reach and more than 22,000 branches, SBI has an extensive network across the country, and through this partnership we hope to strengthen our reach, especially in rural areas, aiding employment as well as providing unique and innovative financial assistance to our customers. We remain confident that through our collaboration, we will leverage our common strengths, and continue to serve our customers with dedication and zeal.”

Commenting on partnership, C. S. Setty, MD, Retail and Digital Banking, SBI said, “We look forward to leveraging this mutually benefitting collaboration and offer some unique financial services to CV customers and dealers across India. Through our innovative Contactless Lending Platform technology, we hope to further amplify the banking experience of customers and strive to extend a 360-degree benefit to retailers.”

Tata Motors’ diverse small and light commercial vehicle portfolio has been successful in the overall CV ecosystem. This collaboration with SBI will allow Tata Motors’ CV customers to avail loans in a hassle-free manner as well as access SBI’s unique technology-laden offerings. This partnership will introduce easy loan structured schemes which will help mitigate the cost difference between the BS4 and the BS6 vehicles for both, down payment as well as the EMI of the vehicle. The robust vehicles are supported by value-added services like the Sampoorna Seva 2.0, Tata Samarth – Tata Motors’ commitment to commercial vehicle driver welfare, uptime guarantee, customised annual maintenance and fleet management solutions.

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