Car loans: Tata Motors in tie-up with Union Bank

Carmaker Tata Motors said on Tuesday it has entered into a tie-up with the Union Bank of India for financing its range of passenger vehicles.

UBI offers car loans up to 85 per cent of invoice, for tenure ranging up to five years, at a rate of 11-11.25 per cent, Tata Motors said.

The loan facility will be available at all branches of Union Bank of India and 329 sales touch-points of Tata Motors.

This tie-up will provide a single-window for both cars as well as car loans and will make car buying easier for customers, the statement said.