Mahindra ties up with Canara Bank for vehicle finance

uto maker Mahindra & Mahindra today said it has tied up with Canara Bank to provide loan facility to its customers.

The company has entered into a preferred financier tie-up with Canara Bank. The Memorandum of Understanding will enable Mahindra customers to avail of a car loan from any of the 4,600 branches of the bank, Mahindra & Mahindra (M&M) said in a statement.

The tie-up will enable both M&M Ltd and Canara Bank to leverage on the inherent strengths of each other's vast pan-India network of 4,600 branches and 250 dealers, respectively, it added.

"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," M&M Automotive Division, Chief Sales & Customer Care Officer, Arun Malhotra said.

Canara Bank Chief General Manager R R Sharma said the bank is expanding its operations in passenger vehicle financing.

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