Tata Motors and South Indian Bank join forces to offer commercial vehicle financing

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Homegrown commercial vehicle manufacturer Tata Motors, on Monday, announced that it has partnered with South Indian Bank to provide financing solutions for its commercial vehicle customers and dealerships.

The Kerala-based private-sector bank will offer financing across Tata Motors’ entire commercial vehicle portfolio. According to a company statement, this partnership aims to support dealerships, foster growth, streamline credit processing and lower interest rates.

PR Seshadri, MD & CEO of South Indian Bank, said, “Our collaboration with Tata Motors enables us to deliver seamless vehicle financing solutions to commercial vehicle dealers and customers. We are confident that our partnership with Tata Motors will result in best-in-class financing solutions, setting a new industry benchmark for excellence.”

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South Indian Bank, which provides financial solutions to dealers nationwide, will offer flexible, competitive financing for dealership needs, supporting dealers’ growth with attractive interest rates, flexible terms and efficient processing.

Rajesh Kaul, Vice President & Business Head – Trucks, Tata Motors Commercial Vehicles, commented, “Our alliance aims to empower fleet owners and dealerships to achieve their business goals. We look forward to providing greater convenience and support to our valued customers and partners.”

Tata Motors offers a wide range of cargo vehicles and mass mobility solutions, from sub-1-tonne to 55-tonne cargo vehicles and 10-seater to 51-seater vehicles. The company has an extensive network of over 2,500 touchpoints.

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South Indian Bank has 955 branches, 3 Ultra Small Branches, 3 Satellite Branches, 1188 ATMs and 133 CRMs across India and a representative office in Dubai, UAE.

As of March 31, 2023, Tata Motors’, part of the $150 billion Tata group, operations include 88 consolidated subsidiaries, two joint operations, three joint ventures and numerous equity-accounted associates.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow