Chennai:Tata Motors has entered into an understanding with Bank of India for financing Fiat cars that are sold through the Tata-Fiat dealer network, the auto major said on Monday.
As per the agreement, customers can avail of special interest rates ranging from 9.75 per cent to 10.25 per cent on loans up to Rs 10 lakh for all Fiat models, including the forthcoming Grande Punto, Tata Motors said in a statement.
Bank of India offers loans for car purchase up to 90 per cent of invoice, up to Rs 10 lakh for tenures up to six years.
"This facility will be available at all metro, urban and semi-urban branches of Bank of India and the 100 sales touch points of the Tata-Fiat distribution network," the statement said.
"We felt that the strong product range from Fiat could be leveraged further with easy financing options for interested customers," said Country Head of Tata Motors Fiat product group, Subodh Marathe.
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