Mumbai- Tata Motors Limited., a commercial vehicle manufacturer, has signed a Memorandum of Understanding (MoU) with Bajaj Finance Ltd., part of Bajaj Finserv Ltd., a financial services group. Bajaj Finance will provide financing solutions for the entire commercial vehicle portfolio, offering customers wide reach, competitive interest rates, flexible loans, and digital loan processing.
Mr. Rajesh Kaul, Vice President & Business Head – Trucks, Tata Motors Commercial Vehicles, said, "We are delighted to partner with Bajaj Finance, a company that shares our vision of providing top-notch solutions for customer delight. We are confident that their inaugural venture into commercial vehicle financing will allow them to tap the immense potential that the transportation sector brings in, and this partnership will benefit entrepreneurs across the country. With Bajaj Finance’s wide network in rural and urban areas, customers will have easy access to financing solutions as per their requirements. We look forward to providing enhanced convenience to our valued customers.”
Mr. Anup Saha, Deputy Managing Director, Bajaj Finance said, “At Bajaj Finance, customer centricity is ingrained in our business ethos. We provide customers with convenient financing solutions that elevate their overall ownership experience. Our partnership with Tata Motors exemplifies this commitment. With our best-in-class process by using India stack, we aim to make the process of purchasing a commercial vehicle accessible and hassle-free. We are confident that the partnership will empower more commercial vehicle owners with financing solutions.”
Tata Motors offers a wide range of cargo vehicles and mass mobility solutions from sub 1-tonne to 55-tonne and 10-seater to 51-seater categories. They ensure quality and service through a network of 2500+ touchpoints with trained specialists and easy access to Tata Genuine Parts. Bajaj Finance, a most diversified NBFC in India, serves 83.64 million customers with diverse offerings in lending, deposits, and payments. As of March 31, 2024, their assets under management totalled INR 3,30,615 crore.
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