Mahindra & Mahindra ties-up with Abhyudaya Co-operative Bank

Mahindra & Mahindra, has joined hands with Abhyudaya Co-operative Bank by signing a preferred financier agreement. The Memorandum of Understanding (MOU) will facilitate Mahindra customers to avail for car loans and commercial vehicle finance from any of the branches of the bank.

The financial agreement was signed between Ajay Budki, Senior GM – Sales, West Zone, Automotive Division, Mahindra & Mahindra Ltd and VS Morye, Chairman, Abhyudaya Co-operative Bank. This tie-up will enable both M&M and Abhyudaya Co-operative Bank to leverage on the strengths of each other’s network. The Indian automaker has a network of over 29 dealer outlets and 90 branches respectively across Maharashtra, while Abhyudaya Co-operative Bank has 111 branches.

Speaking on the tie-up, Budki, said, “At Mahindra, we relentlessly look at options to provide the best schemes to our customers and give them the power of choice. This strategic tie-up is a step in the same direction. Abhyudaya Co-operative Bank offers one of the best products and services at better rates than most financiers. With such highly competitive schemes for car loans and commercial vehicles, we are hopeful of a good response from our dealers and customers”.

According to Morye, Abhyudaya Co-operative Bank is expanding its operations in commercial and passenger vehicle financing. Customers will benefit from the tie-up between the bank and Mahindra & Mahindra as they will have privileged access to the specialised services of the Indian automaker.