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Tata Motors partners with BOI to offer financing scheme on passenger vehicles

10/11/2021 at 3:42 PM

New Delhi, Nov 10: In a constant endeavor to make ownership of cars an easy process for customers and adding to the celebrations of this festive season, Tata Motors, India’s leading automotive manufacturer, has signed a retail finance MoU with Bank of India (BOI), one of India’s leading nationalised banks, to offer exciting finance options to all its passenger vehicle customers.

As part of the tie-up, BOI will provide loans to Tata Motors’ customers at an interest rate starting from as low as 6.85%. This scheme will offer a maximum of 90% financing on the total cost of the vehicle (Ex-showroom pricing + Insurance + Registration). Customers can also enjoy a benefit of a special EMI option starting with Rs. 1502/- per lakh on a 7-year repayment period.

The Bank has also designed certain exclusive features for Tata Motors car buyers availing BOI car finance option which includes Zero processing charges till 31st March 2022, FOIR (Fixed Obligation to Income Ratio) basis which the current liabilities of the customer applying for loan will be capped at 70% irrespective of the income slab and a Higher loan amount eligibility for purchasing Tata Cars.. These offers will be applicable on the New Forever range of ICE Cars and SUVs as well as on EVs for personal segment buyers across the country.

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