Tata Motors, the country's largest automobile company, today said it has entered into an agreement with State Bank of Patiala (SBoP) for financing its full range of passenger cars. The SBOP will provide car loans up to 85 per cent on-road price for tenure ranging up to seven years. This facility will be available at all branches of State Bank of Patiala and 329 sales touch points of Tata Motors, an official spokesman said.

The tie-up would make car buying easier for the customers as single window system would be available for purchasing cars as well as getting car loans. Meanwhile, Tata Motors also announced the tie-up with state-run Bank of India for financing its range of passenger cars at a very competitive rate of 10.25-10.75 per cent.