Mahindra Ties Up with Punjab National Bank for Vehicle Finance
Posted on September 15th 2009Welcome back!
Mahindra & Mahindra has tied up with the Punjab National Bank (PNB) for financing its vehicles.
A low rate of interest is just one of the benefits of opting from the PNB as a preferred financier. The bank’s network of 4,685 branches will also help us further strengthen our presence in India’s hinterland.
- Mr. Arun Malhotra (Sr. VP (Sales & Customer Care) Auto Sector) said.
According to the agreement, clients can get loans of upto 90% of onroad price of commercial vehicle. It will be with tenure of 5-years at 1% BPLR (below prime lending rate).
For the passenger vehicles, customers can get loans at 10.5% rate for up to 3-years and 11% for over 3-years. The customers can take loans upto 90% of onroad price of vehicle for 7-years.
By editor in Auto Finance, Auto Industry News, Mahindra & Mahindra
Rahul responded on 17 Sep 2009 at 3:52 am #
This will indeed increse the sale of Mahindra cars. Especially this season more and more people tend to buy new cars and this tie up will surely be beneficial to the Punjab National Bank, Mahindra and to the customers.
Rahul
Indian Car Advisor
N.H.Raman responded on 24 Sep 2009 at 8:21 am #
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