Mumbai, Mar 13: Tata Motors entered into an understanding with State Bank of Travancore (SBT) for financing its range of passenger vehicles. The bank has 723 branches spread across the country.
The bank currently offers car loans up to 85 per cent of the on road price, for tenure ranging up to 7 years. It is offering car loans at rates frozen at 10 per cent up to May 15, 2010 for loans sanctioned on or before April 30, 2009.
The loans will be available in all branches of the bank and at all Tata Motors sales outlet.