Tata Motors Partners With Bank Of India To For Car Financing | V3Cars
Tata Motors have tied up with the Bank Of India to offer attractive financing options for their passenger car customers.
The notable highlights of the scheme include:
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Maximum finance up to 90% on-road funding (Ex-Showroom + Insurance + Registration)
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Rate of interest (ROI), starting from as low as 6.85% (depends on credit score and vehicle segment)
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EMI starting from Rs.1502/- per lakh for a loan tenure of up to 7 years
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Zero processing charges till 31st March 2022
This partnership will allow customers to take loans from the Bank Of India for interest rates starting from as low as 6.85%. This could help potential passenger car customers to avail long term loans for a lower interest amount. The typical interest rates on car loans from major lenders are hovering between 7.0 and 10.0% per annum.
Moreover, this scheme will allow customers to take a loan on a maximum of 90% of the cost of the vehicle. This cost includes the ex-showroom cost + insurance + registration. This will allow customers to own a vehicle by paying just 10% of the cost of the vehicle as a down payment.
Considering the higher-than-expected price tag of the Tata Punch, this loan offer will help potential customers of the mini SUV with lowering the financial burden while purchasing the car.
Also Read: Tata Punch Petrol Variants Explained - Which One To Buy?
ABOUT THE AUTHOR
Mahesh Yadav
Mahesh is a fan of compact, quirky and underrated vehicles that punch above their weight. Multix, Nano and Navi are his favorites.
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Tata Cars in India
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₹10.99 - ₹15.49 lakh*
*Ex-showroom priceHarrier
₹15.49 - ₹26.44 lakh*
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₹16.19 - ₹27.34 lakh*
*Ex-showroom priceNexon EV
₹14.49 - ₹19.29 lakh*
*Ex-showroom priceNexon
₹8.15 - ₹15.60 lakh*
*Ex-showroom priceTigor EV
₹12.49 - ₹13.75 lakh*
*Ex-showroom priceTiago EV
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*Ex-showroom pricePunch
₹6.13 - ₹10.20 lakh*
*Ex-showroom priceTiago NRG
₹6.70 - ₹8.80 lakh*
*Ex-showroom priceYodha Single
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₹10.24 lakh*
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₹9.07 - ₹10.71 lakh*
*Ex-showroom priceTiago
₹5.65 - ₹8.90 lakh*
*Ex-showroom priceAltroz
₹6.65 - ₹10.74 lakh*
*Ex-showroom priceTigor
₹6.30 - ₹9.55 lakh*
*Ex-showroom priceUpcoming Tata Cars
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₹8.10 - ₹9.50 lakh*
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₹11.80 - ₹20.00 lakh*
*Expected PriceExpected Launch Jul 2024
Safari Petrol
₹15.00 - ₹19.00 lakh*
*Expected PriceExpected Launch Aug 2024
Harrier Petrol
₹13.00 - ₹18.00 lakh*
*Expected PriceExpected Launch Aug 2024
CURVV EV
₹20.00 - ₹30.00 lakh*
*Expected PriceExpected Launch Aug 2024
Altroz Racer
₹10.90 lakh*
*Expected PriceExpected Launch Sep 2024
Nexon CNG
₹10.75 - ₹14.55 lakh*
*Expected PriceExpected Launch Dec 2024
Harrier EV
₹30.00 - ₹35.00 lakh*
*Expected PriceExpected Launch Jan 2025
Altroz EV
₹13.40 - ₹14.40 lakh*
*Expected PriceExpected Launch Apr 2025
Avinya
₹35.00 - ₹40.00 lakh*
*Expected PriceExpected Launch Apr 2025
Sierra EV
₹25.00 - ₹30.00 lakh*
*Expected PriceExpected Launch Sep 2025
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