Mahindra & Mahindra, the country's largest utility vehicle maker, has officially announced its venture with the Central Bank of India for financing facilities for its complete line-up, except the two-wheelers. Confirming he alliance, in an official statement, the auto maker said that it has “Entered into a preferred financier tie-up with Central Bank of India.”
Expressing his views at the launch ceremony, the Chief Sales and Customer Care Officer (Automotive Division) for Mahindra & Mahindra, Arun Malhotra was quoted as saying, “At Mahindra, we always look at options to provide the best schemes to our customers and give them the power of choice. This strategic tie-up is a step in the same direction. With highly competitive schemes for car loans, three-wheeler loans and commercial vehicle loans, we are hopeful of a good response from our dealers and customers.”
According to the agreement, the customers of Mahindra will be offered with a chance to avail loans for buying its passenger cars and commercial vehicles. It must be noted that the venture between Central Bank of India and Mahindra & Mahindra will facilitate both of them to cash upon the brand value of each others' network of more than 4,300 branches and 250 dealers, respectively. Malhotra further said that the Central Bank of India has planned to offer innovative services to Mahindra customers at affordable rates.
Speaking at the ceremony, the Chairman and Managing Director of Central Bank of India, Mohan V Tanksale said, “Central Bank of India is continuously expanding its operations in commercial and passenger vehicle financing, duly suiting to the needs of all segments of customers through its various tailor made loan products.”
