Car makers colaborating with PSU Banks for car lone

As sales of new car models like Hyundai i20, Mahindra Xylo and Fiat Linea going up the auto market is recovering very well. And now to maintain this momentum the major players of auto sector are colaborating with Public Sector Banks for passanger vehicle finance.

In recent tie ups many Public Sector Banks like State Bank of India , Panjab National Bank and Syndicate Bank colaborated with major car makers. Tata Motors recently announced its tie up with Corporation Bank for financing its passanger vehicles. The facility will be available in all 1073 branches of Corporation Bank and all 329 sales touch points of Tata Motors. On these touch points the dealers will also help buyers in submitting their loan applications. Tata Motors also colaborated with State Bank of India for financing its most awaited car Tata Nano

Other leading car makers like Maruti, Hyundai also expending their colaborations with nationalise banks to finance their vehicles. Market share of Public Sactor Banks has also improved in vehicle financing and now because of their more reliblity people tends to buy vehicle by taking loan from Public Sector Banks.