NEWS & ADVICE : CAR LOANS
Mahindra&Mahindra signs car loan deal with Allahabad Bank
By Vaibhav Aggarwal
Sep 29, 2010
Print    Email    RSS   

Mahindra & Mahindra Ltd has entered into a Preferred Financier agreement with public sector lender, Allahabad Bank. The Memorandum of Understanding (MoU) signed between both entities would enable the customers of M&M to obtain car loan from any branch of Allahabad Bank.

The MOU was signed by Bibhas Kumar Srivastav, General Manager, Retail Credit Dept, Allahabad Bank and Arun Malhotra, Sr. Vice President, Sales & Customer Care, Mahindra & Mahindra Ltd. in the presence of Shri J. P. Dua, Chairman & Managing Director of Allahabad Bank at the Bank's Head Office in Kolkata. Shri D Sarkar & Shri M. R. Nayak, Executive Directors and General Managers of Allahabad Bank,were also present during the event.

Speaking at the signing, J P Dua, Chairman, Allahabad Bank said, "With a customer base of 24 million we are always looking for avenues to offer the best products. This tie-up with M&M is a step in the right direction. With 2300+ branches we have access to a major part of India's hinterland where Mahindra vehicles are the most preferred mode of transportation for goods as well as passengers. We are hopeful of working closely with M&M in the days to come and to make this relationship a mutually beneficial one".

Arun Malhotra, Sr Vice President, Sales & Customer Care, Mahindra & Mahindra said, "Allahabad Bank is a dynamic and growing, tech-savvy bank and it is a moment of pride for M&M Auto Sector to be associated with a bank of its stature, heritage and respect. With highly competitive schemes (up to 85% on road funding, rates starting as low as 9%) for Car Loans and Commercial vehicles we are hopeful of a good response from our dealers and customers.."


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
J&K Bank raises PLR
Carnival of Indian Personal Finance Blogs #3
Selecting the appropriate car loan
A chronicle of excesses by loan recovery...
TIPS FOR ASPIRING CAR BUYERS AND OWNERS


i want to know the status of my auto loan in tata...
I have not given any guarantee but report says that...
Contact or Apply For Credit Finance
hi how to check cbil report
am i in your defaulter list
why my name is list in civil record?

NEWS THIS WEEK
Home loan and car loan EMIs likely to remain same Apr 4, 2014
ICICI lombard offering special travel plan Apr 2, 2014
BMB bank launched second new branch in Agartala within a week Mar 26, 2014
Corporation bank signed MOU with AMW motors Mar 19, 2014
Bharati AXA insurance company opening 29 new branches Mar 18, 2014
News Archive