Tata Capital Introduces Instant Digital Sanctions for Commercial Vehicle Loans

Tata Capital has collaborated with a few Original Equipment Manufacturers (OEMs) to provide consumers with a diverse range of options when purchasing new Commercial Vehicles.

Tata Capital, the Tata Group's financial services arm, has introduced an industry-first program for fast digital onboarding for Commercial Vehicle loan customers.

Once again, Tata Capital has set a new industry standard by launching an innovative initiative for instant Digital Sanctions for Commercial Vehicle Loans.

Customers will receive immediate financing solutions as a result of these instant loan solutions. This is the most recent addition to the existing range of products targeted specifically for SME customers.

Tata Capital has collaborated with a few Original Equipment Manufacturers (OEMs) to provide consumers with a diverse range of options when purchasing new Commercial Vehicles. This is an "assisted" journey where relationship managers guide consumers through the steps. The relevant information regarding the customer's fleet is collected effortlessly utilizing the Vahan APIs, making it simple for the customer.

Underwriting will also be done with a scorecard and with the least amount of documents. Within a few minutes, the consumer receives a loan sanction letter.

"Our latest digital product will give our SME customers of Commercial Vehicle Loans an opportunity to easily meet their funding needs in a quick and seamless manner," stated Abonty Banerjee, Chief Operating Officer of Digital and Marketing at Tata Capital.

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This step aligns with the company’s aim of providing constantly innovating digital solutions while making the consumer journey frictionless and straightforward. Tata Capital's instant digital onboarding for Commercial Vehicle loans sets a new benchmark for the financial services industry.

Traditionally, the process of applying for a commercial vehicle loan has been time-consuming and involves significant paperwork. But, now owning a commercial vehicle will be more accessible and hassle-free for SME customers.

About Tata Capital

Tata Capital Limited ("TCL"), the Tata Group's flagship financial services company, is a subsidiary of Tata Sons Private Limited and is classified as a Systemically Important Non-Deposit Accepting Core Investment Company ("CIC") by the Reserve Bank of India.

Tata Capital and its subsidiaries provide a diverse range of financial services/products and operate across multiple business lines, including Commercial Finance, Consumer Loans, Wealth Services, and the distribution and marketing of Tata Cards.

Tata Capital strives to beat the competition by focusing solely on offering the best financial solutions to consumers. As a firm, the company believes in organic growth. The efforts are and will always be directed toward bringing wholesome, consistent profits to stakeholders.