19 Mar 2024 | 6270 Views | By Autocar Professional Bureau
Bandhan Bank has inked a Memorandum of Understanding (MoU) with Mahindra & Mahindra (M&M) to provide financing solutions to customers in the commercial vehicle and commercial equipment segments. Through this collaboration, Bandhan Bank will extend financing options across M&M's entire commercial vehicle and equipment portfolio, leveraging its extensive network and ...
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Bandhan Bank has inked a Memorandum of Understanding (MoU) with Mahindra & Mahindra (M&M) to provide financing solutions to customers in the commercial vehicle and commercial equipment segments. Through this collaboration, Bandhan Bank will extend financing options across M&M's entire commercial vehicle and equipment portfolio, leveraging its extensive network and tailored repayment plans.
Santosh Nair, Head of Consumer Lending & Mortgages at Bandhan Bank, speaking on the partnership said “This association reflects our dedication to serving the diverse financial needs of commercial vehicle & commercial equipment customers. We are confident that this collaboration will enable us to extend our reach and provide tailored financing options to support the growth of businesses in the commercial vehicle segment.”
Jalal Gupta, Business Head of Commercial Vehicles at Mahindra & Mahindra, commented “This partnership will help us deliver the best financial solutions to our customers and provide the necessary impetus and confidence, allowing them to prosper. This tie-up will enable both MCE and Bandhan Bank to leverage on the inherent strengths of each other’s vast network.”
Mahindra & Mahindra boasts an extensive range of commercial vehicles and equipment, offering products ranging from 3.5 tons to 55 tons in the commercial vehicle space, including Light Commercial Vehicles (LCV), Intermediate Commercial Vehicles (ICV), and Heavy Commercial Vehicles (HCV). Additionally, M&M deals in commercial equipment such as Back-hoe Loaders and Motor Graders, catering to diverse industry needs.
Bandhan Bank, a modern private sector bank, is known for its competitive interest rates on both liability and retail asset products, including home loans, passenger and commercial vehicle loans, and personal loans. With a presence in 35 states and union territories across India, Bandhan Bank operates more than 6,250 banking outlets, serving over 3.25 crore customers nationwide.