Tata Motors, Bajaj Finance partner for commercial vehicle financing

26 Jun 2024 , 06:45 PM

Tata Motors announced a partnership with Bajaj Finance Ltd on Tuesday to provide financing solutions for its entire commercial vehicle portfolio. The partnership is formalized through a memorandum of understanding (MoU) between Tata Motors and Bajaj Finance Ltd, a part of Bajaj Finserv Ltd.

Customers will benefit from Bajaj Finance’s extensive reach, competitive interest rates, flexible loan options, and digitally-enabled loan processing.

Rajesh Kaul, Vice President & Business Head Trucks at Tata Motors, expressed confidence that Bajaj Finance’s entry into commercial vehicle financing will unlock significant opportunities in the transportation sector and benefit entrepreneurs nationwide.

Bajaj Finance’s extensive network in both rural and urban areas will provide customers with accessible financing solutions tailored to their needs.

Anup Saha, Deputy Managing Director of Bajaj Finance, emphasized their aim to make purchasing commercial vehicles accessible and hassle-free, and expressed confidence in the partnership’s ability to empower more commercial vehicle owners.

Tata Motors offers a wide range of commercial vehicles, from sub 1-tonne to 55-tonne cargo vehicles, and 10-seater to 51-seater mass mobility solutions, including small commercial vehicles, pickups, trucks, and buses.

Bajaj Finance, a diversified Non-Banking Financial Company (NBFC) in India, operates across lending, deposits, and payments, serving over 8.36 Crore customers. As of March 31, 2024, its assets under management totaled ₹3,30,615 Crore.