Bandhan Bank Partners with Mahindra & Mahindra for Commercial Vehicle Financing

Key Highlights:
•    Bandhan Bank and Mahindra & Mahindra team up for easier financing of commercial vehicles and equipment.
•    They signed a deal to offer loans covering Mahindra & Mahindra's full portfolio.
•    Santosh Nair of Bandhan Bank vows to meet diverse financial needs in this sector.
•    Jalal Gupta from Mahindra & Mahindra aims for top-notch financial solutions for clients.
•    Mahindra & Mahindra's range includes vehicles from 3.5 to 55 tons and various equipment.

Bandhan Bank and Mahindra & Mahindra (M&M) have joined hands to provide convenient financing solutions to customers in the commercial vehicle and commercial equipment segments.

Bandhan Bank has signed a Memorandum of Understanding (MoU) with Mahindra & Mahindra (M&M) to offer lending options to customers in the commercial vehicle and commercial equipment segments. Bandhan Bank will expand financing alternatives across M&M's full commercial vehicle and equipment portfolio as part of this agreement, leveraging its large network and customized payback plans.

Santosh Nair, Head of Consumer Lending & Mortgages at Bandhan Bank, expressed their commitment to serving the diverse financial needs of commercial vehicle and commercial equipment customers. He believes that this partnership will enable them to extend their 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, emphasized that this partnership will deliver the best financial solutions to their customers. It will provide the necessary impetus and confidence, allowing businesses to prosper. Mahindra & Mahindra boasts an extensive range of commercial vehicles and equipment, catering to diverse industry needs.

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Mahindra & Mahindra manufactures a wide range of commercial vehicles and equipment, with models ranging from 3.5 tons to 55 tons in the commercial vehicle arena, including Light Commercial Vehicles (LCV), Intermediate Commercial Vehicles (ICV), and Heavy Commercial Vehicles. M&M also sells commercial equipment such as backhoe loaders and motor graders, catering to a wide range of industry demands.

Bandhan Bank, a modern private sector bank, is renowned for offering competitive interest rates on both liability and retail asset products, such as home loans, passenger and commercial automobile loans, and personal loans. Bandhan Bank runs more than 6,250 banking locations throughout 35 states and union territories in India, servicing approximately 3.25 crore people.

CMV360 Says

The collaboration between Bandhan Bank and Mahindra & Mahindra marks a significant step towards providing accessible financing solutions for commercial vehicles and equipment, ultimately aiming to support the growth of businesses in this sector. 

By leveraging Bandhan Bank's extensive network and Mahindra & Mahindra's diverse product offerings, the collaboration seeks to provide tailored solutions that address the unique needs of customers, ultimately driving economic advancement and opportunity in the communities they serve.