Tata-Fiat Ties Up With State Bank Of Hyderabad For Financing Vehicles From Fiat Stable
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Tata Motors has entered into a MOU with State Bank of Hyderabad for financing of Fiat cars which are available through the Tata-Fiat dealer network.
According to Tata Motors’ press release, “Fiat customers can avail loans up to 85 per cent of the on-road price, for tenure ranging up to 7 years, at an attractive interest rate of 10.25-10.75 per cent p.a. for new Fiat cars of their choice from the Fiat Linea, the Fiat Palio Stile and recently launched Fiat Grande Punto. This facility will be available at all the branches of State Bank of Hyderabad (except Service branches) and the 100 sales touch points of Tata-Fiat distribution Network. This tie-up will provide consumers a single window for availing loans for the whole range of Fiat cars distributed by Tata Motors.”
Commenting on this funding tie-up, Subodh Marathe, Tata Motor’s Country Head (Fiat Product Group) said, “Tata Motors has always been at the fore-front of introducing multiple customer centric initiatives. We felt that the strong product range from Fiat could be leveraged further with easy financing options for interested customers. We are happy to have State Bank of Hyderabad on board”.
The State Bank of Hyderabad is 100 per cent government owned and the State Bank of India’s largest Associate. It has 1,034 branches spread across 11 states and 2 Union territories. It was adjudged the second best Public Sector Bank for both 2006 and 2007 by FE, KPMG and Ernst & Young. A recent IBA-Gallup Survey also ranked SBH No. 1 in customer satisfaction for saving bank accounts.
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Posted: July 29th, 2009 under Cars.
Tags: fiat car loans, fiat state bank of hyderbad, tata-fiat state bank of hyderabad
