Mahindra ties up with UCO Bank to offer attractive financing options on SUVs
Mumbai, September 13, 2022: Mahindra & Mahindra, India’s leading SUV manufacturer, today entered into a partnership with leading public sector lender UCO Bank, which will enable the company to offer attractive financing options to its SUV customers.
The tie-up will allow Mahindra to leverage UCO Bank’s exhaustive network of over 3,000 branches, extending the reach of its financing options to passenger vehicle customers across the country.
As part of the agreement, UCO Bank will offer credit to prospective car owners at attractive rates of interest, high LTV and without any pre-payment charges.
Speaking on the occasion, Satinder Singh Bajwa, Sr. VP Head - Sales & Customer Care, Automotive Division, M&M Ltd., said, “Our tie-up with UCO Bank will enable us to offer attractive financing options to customers aspiring to own a Mahindra SUV. Our association with UCO Bank will help us turn those dreams to reality by making the SUV ownership experience easier, more accessible and more affordable.”
UCO Bank Executive Director Shri Ishraq Ali Khan said, “Mahindra & Mahindra Dealers and UCO bank officials will be working in tandem for the benefit of customers. With this tie-up, UCO Bank will offer loan facility to Mahindra customers belonging to various profiles including salaried, self-employed, businessmen, professionals and farmers. UCO Bank will offer attractive terms on the loans, thereby making it easier and more affordable for customers to own a Mahindra SUV.”
About UCO Bank
Founded in 1943, UCO Bank is a leading commercial bank and Government of India Undertaking. UCO Bank has a robust network of more than 3000 branches pan India with 43 Zonal offices and head office in Kolkata.
About Mahindra
Founded in 1945, the Mahindra Group is one of the largest and most admired multinational federation of companies with 260,000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality, and real estate.
The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.
Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise/ For updates subscribe to https://www.mahindra.com/news-room.