Bandhan Bank, one of India’s fastest-growing private sector banks has signed a Memorandum of Understanding (MoU) with Mahindra &Mahindra (M&M), a leading commercial vehicle manufacturer of the country, to offer convenient financing solutions to its commercial vehicle & commercial equipment 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.
Bandhan Bank is a new-age private sector bank in India, offering competitive interest rates on liability and retail asset products like home loans and personal loans. With over 6,250 banking outlets in 35 Indian states and union territories, it 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.”
Mahindra & Mahindra offers a wide range of commercial vehicles and equipment, including LCV, ICV, and HCV, with a product range of 3.5 to 55 tons. They also sell Back-hoe Loaders and Motor Graders in the Commercial Equipment space. With a 40% growth rate, Mahindra has expanded its after-sales service network to over 500 touchpoints.
