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Ujjivan Small Finance Bank has started to offer finance for small commercial vehicles.
The offering, as part of the Raftaar Loans product mix, would be available across the southern and eastern regions, covering States such as Karnataka, Tamil Nadu and West Bengal in phase I of the launch.
The bank is planning to extend the offering pan-India in a phased manner.
The bank has established its presence across 24 States and Union Territories.
Nitin Chugh, Managing Director and Chief Executive Officer, Ujjivan Small Finance Bank, said the bank decided to foray into the Small Commercial Vehicle funding segment after understanding the customers’ requirement and need. “We are taking all steps to support and build a deeper connect.”
“The product mix for Raftaar loans include 2-wheeler and E-3-wheeler loans. Further for seamless commercial vehicle option, we have tied up with OEMs such as Mahindra & Mahindra, Tata Motors and Ashok Leyland, among others,” he said.
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