Tata Motors signed MOU with Canara Bank

Tata Motors signed an MOU with Canara Bank for providing a single window for both cars as well as car loans and with its effect car buying will be easier for customers. According to this tie-up Canara Bank will finance its range of passenger vehicles to customers. Canara Bank is one of the largest Public Sector Undertakings in the country catering to the financial needs of industry as well as retail segment. The Bank offers car loans up to 90% of “on-road cost”, for tenure ranging up to 7 years, at a very competitive rate of 11.00%. This facility will be available at all the 2,729 branches of Canara Bank and 470 sales touch points of Tata Motors.