Auto
sector saw a major move. Mahindra & Mahindra ties up with the
Federal Bank to provide vehicle finance services to its customers via
the network of 999 Federal bank’s branches across the country. The
tie up covers finance for personal and commercial range vehicles.
Mr. Arun Malhotra, Senior VP, Sales and Customer Care - Mahindra&Mahindra Ltd and Mr. CP John, Executive Director, Federal Bank signed the memorandum of understanding (MoU).
The deal would benefit both the bank and the M&M customers. Bank plans to provide attractive offers and packages on vehicle loans to the customers buying M&M vehicles both in terms of interest rates as well as the margin on the purchasers. This will help the bank in expanding its business in segment of commercial and passenger vehicle financing.
