Ashok Leyland Partners With Tamilnad Mercantile Bank for Customised Vehicle Financing

Mumbai: Commercial Vehicle maker Ashok Leyland has signed an initial pact with Tamilnad Mercantile Bank (TMB) for customised vehicle financing options for its customers.

TMB, with a network of more than 600 branches, has a significant presence across rural and semi-urban centres, Ashok Leyland said in a statement.

The bank also has deep relationships with MSMEs, traders and agricultural customers, particularly in Tamil Nadu and other South Indian markets.

The partnership aims to leverage these strengths to enhance customer convenience by offering vehicle loans with flexible, easy-to-manage repayment options, tailored to meet individual needs and preferences, it said.

“This partnership will further strengthen our customer-centric approach by facilitating greater access to finance for customers purchasing Ashok Leyland trucks and buses,” said K M Balaji, Whole-Time Director and Chief Financial Officer at Ashok Leyland.

Salee S Nair, Managing Director and CEO, Tamilnad Mercantile Bank said, “By leveraging the combined strengths of TMB’s robust banking network and Ashok Leyland’s extensive market presence, we aim to support business growth and drive greater mobility for transport operators and fleet owners”.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)