Tata Motors, Indian Bank tie-up for financing Fiat cars

MUMBAI: Tata Motors, today said that it has entered into an understanding with Indian Bank for financing of its Fiat cars which are available 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 11.50 per cent per annum, a press release issued here said.

This will be for the new Fiat cars of their choice from the Linea, Palio and Grande Punto range, the release said.

This facility will be available at all the 1,646 branches of Indian Bank and the 100 sales touch-points of the 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.

Tata Motors' Country Head (Fiat Product Group), Subodh Marathe, said, "Tata Motors has always been at the forefront of introducing multiple customer-centric initiatives. We are extremely happy to have Indian Bank as our new partner."