Mahindra’s Construction Equipment Division (MCE) has solidified a strategic partnership with Bank of Maharashtra to offer specialised financing solutions for its construction equipment range. This collaborative effort aims to provide customers with tailored financial assistance for the purchase of Mahindra's current and upcoming BSV range of construction equipment, featuring competitive interest rates and extended loan tenures.
The agreement encompasses favourable financing terms, including EMI options starting as low as INR 51,000 per month, a lower interest rate starting from 9%, up to 90% On-Road funding, and a higher loan tenure of up to 7 years, including moratorium. Additionally, customers can benefit from a 50% waiver in processing fees as part of this exclusive partnership.
These products are expected to set industry benchmarks, contributing to infrastructure growth with advanced features and adherence to industry best practices.
Jalaj Gupta, Business Head – Commercial Vehicles, Mahindra & Mahindra Ltd., expressed his optimism about the partnership, stating, 'This collaboration will enable us to deliver the best financial solutions to our customers, leveraging Bank of Maharashtra's extensive reach and trust across the country. The partnership will empower both MCE and Bank of Maharashtra to capitalise on each other's vast network and inherent strengths.'
Bank of Maharashtra, with a network comprising over 2,400 branches and 46 Zonal offices, is set to offer a diverse range of financing options through this collaboration. Customers can conveniently access these financing solutions by visiting the nearest Mahindra Construction Equipment dealership. In response to current market dynamics, the bank has introduced a specialised offering, Mahabank Equipment Finance, catering to customers engaged in construction, mining, and related activities, facilitating the acquisition of equipment such as earthmoving equipment, construction vehicles, material handling equipment, and more.