Home Home | Picsquare | Your Account | Help | Contact Us
 

Mahindra & Bank of Rajasthan sign MoU for vehicle finance

Bookmark and Share
Mahindra & Mahindra Ltd. (M&M), one of India’s leading auto brands, today signed an MoU with Bank of Rajasthan for vehicle finance.  As a result of this MoU, Bank of Rajasthan will be a preferred financier for Mahindra vehicles, encompassing both commercial vehicles and passenger vehicles.

Mr. Arun Malhotra, Senior Vice President, Sales and Customer Care, Automotive Sector, Mahindra & Mahindra Ltd. and Mr. Sudhanshu Verma, Head – Trade & Finance, Auto Sector, Mahindra & Mahindra Ltd., were present at the signing ceremony, with Mr. K.K. Sharma, Executive Director, Bank of Rajasthan, Mr. O. P. Gupta, Additional VP, Retail Loans, Bank of Rajasthan and Mr. Gaurav Goel, AVP, Retail Loans, Bank of Rajasthan.

“This MoU with the Bank of Rajasthan will provide our customers with additional retail finance options for both commercial vehicles and passenger vehicles.  A low rate of interest is just one of the benefits of opting for the Bank of Rajasthan as a preferred financier. The bank’s vast national network of 463 branches will also help us further strengthen our presence in India’s hinterland,” said Mr. Arun Malhotra, Senior Vice President, Sales and Customer Care, Automotive Sector, Mahindra & Mahindra Ltd. 

For Commercial Vehicle financing, customers can avail of a loan of up to 80% of the vehicle’s on road price (including registration and insurance), with tenure of 5 years at a competitive rate of 12% IRR. Auto Loan financing will be available at a low rate of 10.50% for salaried employees and 11% for others. The extent of the loan will be up to 90% of the vehicle’s on road price (including registration and insurance) up to the tenure of 5 years.

Courtesy: Mahindra & Mahindra Ltd

Top Selling Mahindra Cars Prices & Specifications:
Mahindra Renault (Sedan)
Mahindra Bolero (SUV)
Mahindra Scorpio (SUV)
Mahindra XYLO (SUV)

Related News:
Mahindra’s domestic auto sales register 16.9% growth in August
Mahindra July domestic auto sales up 26.9%
Mahindra and Mahindra posts Rs.400 crore net profit
Mahindra inks deal with State Bank of Travancore for vehicle finance

Related Books:
The Story of the Pullman Car
Roundabout the USA: 60 Days in a Car, a Journal
Muscle Car Files: Selected Road Tests 1964-1971
Tags :
Add a comment RSS feed for responses to this blog entry
Posted by Naresh Koshti on 10 September, 2009 3:12:51 PM IST #