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Mahindra & Mahindra sign pact with UCO Bank for finance of Commercial Vehicles

Leading manufacturers of SUVs in India Mahindra and Mahindra have entered into a joint agreement with UCO Bank to be the preferred financer for their range of commercial vehicles. UCO Bank is a reputed public sector bank with over 69 years of banking history. The agreement was signed and sealed by Arun Malhotra Chief of Sales and Customer Care Officer at M&M along with Manoj Kumar, Deputy General Manager of UCO Bank where in all commercial vehicles of M&M will be financed by UCO Bank.

This joint agreement will benefit both M&M and UCO Bank to the extent that each of them will increase their customer networks. M&M have over 400 dealerships throughout the country while UCO Bank has a total of 2407 branches in India. Financing of commercial vehicles of M&M will be offered through UCO Bank wherein customers will be charged reasonable rates of interest starting at 11.5% for a period of 7 years, which will entail lower EMIs while at the same time paper work will be quicker and less time consuming benefiting customers to a great extent.

Under this new agreement UCO Bank will provide customers with financing for personal vehicles. Customers can get a loan of upto 85% on the vehicles on road price – including registration and insurance with a tenure of 5 years.

In the image above, standing Left to Right: – Mr. N. R. Badrinarayanan, Executive Director, UCO Bank, Mr. Manoj Kumar, D.G.M, UCO Bank, Mr. Arun Kaul, Chairman & Managing Director, UCO Bank, Mr. Arun Malhotra, Chief Sales & Customer Care Officer, Mahindra & Mahindra Ltd., Mr. S. Chandrasekharan, Executive Director, UCO Bank and Mr. Naveen Bathla, D.G.M Channel Finance, Mahindra & Mahindra Ltd.

About the author

Sagar Patel

Sagar Patel

A first drive in a manual rickety old van was enough to pave the road forward for Sagar Patel. When not driving or riding, his dexterity shifts gear to voice passion through words via reviews, and news, all the while, closely monitoring updates from the auto industry.

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