Mahindra & Mahindra and Canara Bank preferred financier tie-up for car loans

Mahindra & Mahindra Ltd. (M&M Ltd.), has entered into a Preferred Financier tie-up with Canara Bank. The Memorandum of Understanding (MoU) lets Mahindra customers avail of a car loan from any of the 4,600+ Canara Bank branches.

It was signed by Mr. Arun Malhotra, Chief Sales & Customer Care Officer, Automotive Division, Mahindra & Mahindra Ltd. and Mr. R. R. Sharma, Chief General Manager, Canara Bank in the presence of Mr. M. Nagaraju, Deputy General Manager, Retail Assets, Canara Bank and Mr. Rahul Vaidya, Deputy General Manager, Sales Karnataka, Mahindra & Mahindra Ltd.

Mahindra-carsMr. R. R. Sharma, Chief General Manager, Canara Bank said, “Canara Bank is expanding its operations in passenger vehicle financing. It has been making niche offerings to its customers and this MoU with Mahindra & Mahindra will be one such special initiative. Customers of Canara Bank will benefit from this tie-up since they will have privileged accessed to the specialized services of M&M.”

Mr. Arun Malhotra, Chief Sales & Customer Care Officer, Automotive Division, Mahindra & Mahindra Ltd. said, “At Mahindra, we relentlessly look at options to provide the best finance schemes to our customers and give them the power of choice. This strategic tie-up is a step in the same direction. Canara Bank offers innovative products and services at affordable rates. With highly competitive schemes for car loans, we are hopeful of a good response from our dealers and customers”.