Mahindra & Mahindra, the leading utility vehicle manufacturer, have signed a Memorandum of Understanding (MoU) with Oriental Bank of Commerce (OBC) on Friday which will assist Mahindra consumers in getting finance services from one of the largest & most reputed public sector banks of the country.
Penned down in presence of S.L. Bansal, Chairman and Managing Director at OBC, the MoU was signed by Arun Malhotra – Senior VP (Sales & Customer Care), M&M and Atul Gautam – GM, Oriental Bank of Commerce. The historic collaboration will symbiotically help both the firms in attaining new heights as OBC’s 1808 branches will now assist vehicles from the 250 dealership of M&M across the country in getting financed.
Addressing to the gathering, S.L. Bansal said that OBC is expanding and the alliance with M&M will assist the company in intruding into Commercial and Passenger vehicle financing which in-turn will help OBCs existing customers to benefit from exclusive services of Mahindra. With attractive schemes on interest rates and margins, M&M vehicle buyers are certain to get the best deal, he added.
Whereas Arun Malhotra said that Mahindra is always looking for new gateways to present its customers with exciting & cost effective schemes and the tie-up with OBC is a move in the same direction. OBC offers new as well as simple policies and services at nominal rates and even dedicated schemes for retail, SME and NRI clients, he added.
With an awesome scheme of 80 percent on-road financing coupled with 84 months of repayment time, the scheme is almost certain to make Mahindra dealers and customers happy, Malhotra added.