Ashok Leyland has signed a Memorandum of Understanding with Tamilnad Mercantile Bank (TMB) to offer customised financing to customers buying its trucks and buses.
Under the partnership, TMB will provide end-to-end vehicle loans with flexible repayment options suited to each customer’s needs. Founded in 1921, the bank has more than 600 branches, with a strong presence in rural and semi-urban areas and close ties with MSMEs, traders and farmers, especially in Tamil Nadu and other southern states.
“This partnership will further strengthen our customer-centric approach by facilitating greater access to finance for customers purchasing Ashok Leyland trucks and buses,” said Mr. K.M. Balaji, Whole-Time Director and Chief Financial Officer, Ashok Leyland.
Ms. Madhavi Deshmukh, Senior Vice President – National Head Sales, Medium & Heavy Commercial Vehicles, Ashok Leyland, said the tie-up will help customers get faster approvals and financing tailored to their operations, while improving the company’s reach across regions.
Mr. Salee S. Nair, MD & CEO, Tamilnad Mercantile Bank, said the partnership combines TMB’s banking network with Ashok Leyland’s market presence to support transport operators and fleet owners.
