Bandhan Bank has signed a Memorandum of Understanding (MoU) with Mahindra & Mahindra, a leading commercial vehicle manufacturer, to provide convenient financing solutions for its customers. Under this collaboration, Bandhan Bank will offer financing across the entire commercial vehicle & Commercial equipment portfolio and customers will benefit from the bank’s wide network and specially curated easy repayment plans.
Mahindra & Mahindra offers a wide range of commercial vehicles and equipment, including LCV, ICV, and HCV. They also sell Back-hoe Loaders and Motor Graders in the Commercial Equipment space. With a rapid growth rate of over 40%, Mahindra has expanded its after-sales service network to over 500 touchpoints.
Bandhan Bank, a new-age private sector bank, offers competitive interest rates on liability products and retail asset products like home loans, passenger and commercial vehicle loans, and personal loans. With over 6,250 banking outlets in 35 Indian states and union territories, Bandhan Bank serves 3.25 crore customers. Mr. Santosh Nair, Head, Consumer Lending & Mortgages, Bandhan Bank said, “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.”
