Tata Motors tie-up with Bank of India

Tata Motors tie-up with Bank of IndiaTata Motors, India’s largest automobile company, has announced that it has tied a knot with public sector lender Bank of India.

The company has entered into this tie up with the aim to offer retail financing facilities for its Fiat range of passenger cars which were available through the Tata-Fiat dealership network.    

The company authorities said that the MoU will also offer special interest rates for loans upto Rs 10 lakh for a Fiat car including the yet to be launched Grande Punto.

As per agreement terms, customers can avail financing facilities at all metro, urban and semi-urban branches of Bank Of India and the 100 sales touch points of the auto-maker.   

At present, Tata Motors has operations in United Kingdom, South Korea, Thailand and Spain.

As per media reports, Tata Motors has decided to launch its new world sports utility vehicle (SUV) early next year.

Stock price of Tata Motors ended the day in red at Rs 342, down 4.1% on Bombay Stock Exchange (BSE). The total volume of shares traded on BSE was 692,882. The stock has made 52 week high of Rs 502 and a low of Rs 122 on BSE.