Bandhan Bank has solidified its collaboration with Mahindra & Mahindra (M&M) through the signing of a Memorandum of Understanding (MoU), aimed at offering financing solutions to customers in the commercial vehicle and commercial equipment sectors. Under this partnership, Bandhan Bank will extend a spectrum of financing options across M&M’s entire portfolio of commercial vehicles and equipment, leveraging its extensive network and customized repayment structures.
Expressing his views on the partnership, Santosh Nair, Head of Consumer Lending & Mortgages at Bandhan Bank, affirmed, “Our association underscores our commitment to addressing the diverse financial requirements of commercial vehicle and commercial equipment customers. We believe that this collaboration will enable us to expand our outreach and furnish tailored financing alternatives to bolster the growth of businesses operating in the commercial vehicle segment.”
Jalal Gupta, Business Head of Commercial Vehicles at Mahindra & Mahindra, echoed similar sentiments, stating, “This strategic alliance will empower us to deliver optimal financial solutions to our clientele, instilling the necessary momentum and confidence for their advancement. By joining forces, both MCE and Bandhan Bank can capitalize on each other’s extensive networks, thereby enhancing our collective capabilities.”
Mahindra & Mahindra boasts a comprehensive array of commercial vehicles and equipment, encompassing products ranging from 3.5 tons to 55 tons in the commercial vehicle domain, spanning Light Commercial Vehicles (LCV), Intermediate Commercial Vehicles (ICV), and Heavy Commercial Vehicles (HCV). Additionally, M&M offers commercial equipment such as Back-hoe Loaders and Motor Graders, catering to a broad spectrum of industry requisites.
Bandhan Bank, a forward-looking private sector bank, is renowned for its competitive interest rates on both liability and retail asset products, including home loans, passenger and commercial vehicle loans, and personal loans. With a widespread presence across 35 states and union territories in India, Bandhan Bank operates a network of over 6,250 banking outlets, catering to a customer base exceeding 3.25 crore nationwide.
