Dynamite News Business: Mahindra ties up with UCO Bank
The tie-up will allow Mahindra to leverage UCO Bank’s exhaustive network of over 3,000 branches, extending the reach of its financing options to passenger vehicle customers across the country, the company said in a release. Read more on Dynamite News
Hyderabad: Mahindra & Mahindra, India’s leading SUV manufacturer, on Tuesday said that it has entered into a partnership with leading public sector lender UCO Bank to offer attractive financing options to its SUV customers.
The tie-up will allow Mahindra to leverage UCO Bank’s exhaustive network of over 3,000 branches, extending the reach of its financing options to passenger vehicle customers across the country, the company said in a release.
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As part of the agreement, UCO Bank will offer credit to prospective car owners at attractive rates of interest, high LTV and without any pre-payment charges.
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Speaking on the occasion, Satinder Singh Bajwa, Sr. VP Head - Sales & Customer Care, Automotive Division, M&M Ltd., said, “Our tie-up with UCO Bank will enable us to offer attractive financing options to customers aspiring to own a Mahindra SUV. Our association with UCO Bank will help us turn those dreams to reality by making the SUV ownership experience easier, more accessible and more affordable.”
UCO Bank Executive Director Ishraq Ali Khan said, with this tie-up, UCO Bank will offer loan facility to Mahindra customers belonging to various profiles including salaried, self-employed, businessmen, professionals and farmers. UCO Bank will offer attractive terms on the loans, thereby making it easier and more affordable for customers to own a Mahindra SUV.” (UNI)