Bandhan Bank and Mahindra partner to offer commercial vehicle financing solutions

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.”

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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.

The benefits of the partnership for commercial vehicle buyers

The partnership between Bandhan Bank and M&M brings a host of benefits for commercial vehicle buyers. One of the key advantages is the ease of access to financing options tailored specifically for their needs. With the combined expertise of both institutions, customers can expect competitive interest rates, flexible repayment terms, and quick approval processes.

Additionally, commercial vehicle buyers can benefit from a range of value-added services such as insurance products, extended warranties, and maintenance packages. These services not only provide added convenience but also help in safeguarding the investment made in their commercial vehicles.

Furthermore, the partnership opens up opportunities for buyers to explore a wider range of vehicle options, including both new and used commercial vehicles. This variety gives customers the flexibility to choose the best vehicle that suits their business requirements and budget constraints.

Overall, the collaboration between Bandhan Bank and M&M aims to simplify the financing process for commercial vehicle buyers, making it more accessible, affordable, and customer-centric.