Country's largest truck maker Tata Motors today said it has entered into an understanding with Punjab National Bank (PNB) for financing its range of passenger cars.

Punjab National Bank offers car loans up to 90 per cent of invoice, for tenure ranging up to seven years, at a rate of 10.5 per cent to 11 per cent.

This facility will be available at all 4604 branches of Punjab National Bank and 329 sales touch points of Tata Motors, the auto major said in a statement. This tie-up will provide a single window for both cars as well as car loans and will make car buying easier for customers, it added.

The bank has pan-India presence with about 4,604 branches including extension counters spread all over the country.