Tata Motors ties-up with Bharatiya Mahila Bank on Women's Day 2014.

International Women’s Day 2014 is around the corner and Tata Motors has planned to benefit their women customers by entering into an understanding with the Bharatiya Mahila Bank (BMB). This tie-up will enable easy car financing options for its women customers. The companies will sign a formal agreement on International Women’s Day 2014, which falls on March 8. With this association, BMB will be one of the preferred retail financiers of Tata Motors’ passenger car business.

This move can be seen as a step by Tata Motors to reach out to the growing women customer base of the bank. BMB will facilitate eligible women customers of Tata Cars & UVs with vehicle financing, at an interest rate of 10.5 per cent, across all BMB branches, in India. The loan facility will be extended upto seven years, with maximum funding.

Ankush Arora, Senior Vice President, Passenger Vehicles Business Unit (Commercial), Tata Motors, says, “On the occasion of Women’s Day 2014, we are happy to tie-up with BMB. Through this association, we will be able to leverage the growing network of the bank for providing retail financing to our women customers. Currently, women customers account for 11 per cent of our total customers’ base, and through this tie-up we will scale-up our reach. We are confident that our growing network will further drive this tie-up and double our reach.”

According to Usha Ananthasubramanian, Chairperson and Managing Director, BMB, the bank has 12 branches, one each, in Delhi, Mumbai, Kolkata, Chennai, Ahmedabad, Indore, Bangalore, Guwahati, Chandigarh, Dehradun, Raipur and Lucknow. The bank further plans to expand in the state capitals and rural areas in a phased manner.