Monday, February 15, 2016

#Vijaya Bank and #TATA Motors sign MoU for financing CVs

As per the MoU TATA Motors ltd. will refer their prospective buyers of passenger/Goods transport vehicles to Vijaya Bank for financial assistance, which in turn will sanction and release the loan on easy terms and conditions. The loans sanctioned shall carry an interest rate of  11.20%- 11.45% depending on quantum of loan. The quantum of loan shall be 80% invoice value & cost of body building. The loans are repayable in 7 years at monthly rests. The loans can be availed by individuals, Firms, corporates, schools/colleges etc., engaged in transportation of passengers, students, employees, goods etc. Working capital facility is also available to transport operators along with term loan to meet day to day expenses.