Mahindra & Mahindra has signed a preferred financier agreement with Federal Bank for personal and commercial range of vehicles financing.

Under the tie-up, M&M customers will be able to avail themselves of vehicle finance services from any of Federal Bank’s 999 branches across the country.

The memorandum of understanding was signed here on Friday by Mr Arun Malhotra, Senior Vice-President, Sales and Customer Care – Mahindra & Mahindra Ltd, and Mr C.P.John, Executive Director, Federal Bank.

Speaking on the occasion, Mr John said that the bank is expanding its operations in commercial and passenger vehicle financing. The bank offers attractive package both in terms of interest rate and margin norms for purchasers of M&M vehicles. The convergence of both the organisations will benefit customers a great deal, he added.

(This article was published on July 27, 2012)
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