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Mahindra ties up with State Bank of Patiala for vehicle financing

March 11, 2014, 11:25 AM IST by Pratheek Kunder
Mahindra ties up with State Bank of Patiala for vehicle financing

Mahindra has tied up with State Bank of Patiala.Their tie-up will enable consumers to avail vehicle loan from any of the 1,175 branches of the bank. The memorandum was signed by Purshottam Behera, general manager, State Bank of Patiala (planning) and Arun Malhotra, chief sales and customer, Mahindra. 

"This is an innovative step towards providing better customer satisfaction. Both the parties have mutually agreed to pool their resources together to promote market and make available organized finance facility at competitive interest rates to customers.”  said S A Ramesh Rangan, MD, State Bank of Patiala.

"At Mahindra, we relentlessly look at options to provide the best finance schemes to our customers and give them the power of choice. This strategic tie-up is a step in the same direction. 80% of all our vehicles are financed of which PSU Banks contribute 15%, which makes them an important partner for us and a key sales enabler. State Bank of Patiala offers innovative products and services at affordable rates. With highly competitive schemes for car loans and c.v. loans, we are hopeful of a good response from our dealers and customers.” said Arun Malhotra, chief sales & customer care officer, automotive division, Mahindra.

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