Tata Motors enters into a tie-up with IDBI Bank for Retail Finance

Tata Motors has entered into an understanding with the IDBI Bank for financing to the Customer its range of Passenger Cars and Multi Utility vehicles to provide an added facility of Retail Finance.

IDBI Bank will offer loans for Tata Motors” Passenger vehicles on ‘on-road price’ (including vehicle cost, road tax and insurance), for a tenure ranging up to 7 years, at a very competitive rate, 8.5% for the first year and in subsequent years it will be 3% less than BPLR.

About Tata Motors
Tata Motors is India’s largest automobile company, with consolidated revenues of Rs.70,938.85 crores ($ 14 billion) in 2008-09. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand and Spain. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. It also has an industrial joint venture with Fiat in India. With over 4 million Tata vehicles plying in India, Tata Motors is the country’s market leader in commercial vehicles and among the top three in passenger vehicles. It is also the world’s fourth largest truck manufacturer and the second largest bus manufacturer. Tata cars, buses and trucks are being marketed in several countries in Europe, Africa, the Middle East, South Asia, South East Asia and South America. (www.tatamotors.com)

About IDBI Bank
IDBI Bank Ltd. is a universal bank that rides on a cutting edge core banking Information Technology platform. This enables the Bank to offer personalized banking and financial solutions to its clients through its 688 branches and 1136 ATMs. The Bank has a balance sheet size of Rs.1,88,183 crore as on September 30, 2009. IDBI Bank’s operations during the half-year ended September 30, 2009 resulted in a net profit of Rs.426 crore

• Saving Fuel with Hybrid Electric Cars Hybrids are made to operate in all of the same conditions and temperatures that standard automobiles are, while being powered by multiple fuel technology. The use of a rechargeable energy cell system supplements the gasoline engine for propulsion. The basic principals are not hard to understand: hybrid automobiles use the......
• Bank Fees are on the Rise Unless you have been living under a rock for the past year or so, you have been hearing about the bank crises and how almost every bank needs cash (and quickly).  So I guess it is not surprising, that bank fees are rising and if you don't watch out you......
• The Weakonomist Gets His First (And Last) Returned Check Fee The "Returned Check Fee" is a ridiculous and collusive fee that needs to be stopped.  It's odd for me to say that considering I am an employee and shareholder of my bank, fee income like returned check fees help pay my salary and dividends.  But I'm a consumer above all......
• Investors In New Gold Rush Investors have taken a shine to precious metals as alternative investments as confidence wanes in financial markets. The few gold coin ands bullion producers are working flat out to keep up with demand as savers switch their cash from deposit accounts to gold. South African Krugerands are trading at about......
• Arming Ourselves to Save Money on Car Repairs Compared to the frugalistic skills of many other personal finance bloggers, Mr. ToughMoneyLove is a rank amateur.  On the other hand, I am not one to sit back and accept being taken advantage of by entire industries.  Case in point:  My complete disgust with the credit score industry, something I......