A preferred financial agreement has been signed by Mahindra and Mahindra with Federal Bank. The tie up will enable M&M as well as Federal Bank to leverage on the inherent strengths of each other’s vast network of more than 250 dealer outlets and 999 branches across the country.

Arun Malhotra the senior vice president, sales and customer care signed the MoU with P C John the executive director of Federal Bank. P C John while talking about the agreement said that it is a part of the bank’s efforts to expand its operations in commercial and financial sector.

The bank will also come up with attractive packages in terms of interest rates and margin norms for purchases of M&M vehicles. Moreover the customers of Federal bank can have the privilege to access to the specialized services.

Malhotra while talking about the aim of the agreement said that it is an attempt to provide the best schemes to the customers. The federal bank offers innovative as well as simple products and services at affordable rates to SME, retail and NRI customers. The bank will be offering highly competitive schemes for car loans and commercial vehicles with up to 90 percent on road funding and facility or repayment in 72 months.