The Hindu Business Line : Tata Motors, Bank of India tie up

Mumbai, June 15 Bank of India has entered into an understanding with Tata Motors to ensure consumer finance for Fiat cars which are available through the Tata-Fiat dealer network.

Customers can get special interest rates for loans up to Rs 10 lakh of 9.75 per cent to 10.25 per cent for the Linea, Palio and soon-to-be launched Grande Punto, said a Tata Motors release.

Fiat India is a 50:50 joint venture between Fiat Italy and Tata Motors.

Bank of India offers car loans up to 90 per cent of invoice, for loans up to Rs 10 lakh for tenure ranging up to 6 years. This facility will be available at all metro, urban and semi-urban branches of Bank of India and the 100 sales touch points of the Tata-Fiat distribution network, the release added.

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