SML Mahindra, one of India’s leading commercial vehicle manufacturers, has signed an MoU with UCO Bank, a leading public sector bank, to offer customised and affordable retail financing solutions to customers across the country.
The strategic partnership aims to simplify vehicle acquisition for entrepreneurs and fleet operators by providing easy access to institutional finance through UCO Bank’s extensive nationwide branch network.
The MoU was formalised following a meeting between Milan Dubey, Deputy General Manager & Zonal Head, UCO Bank, and Prashant Kumar, Chief General Manager – Marketing, SML Mahindra.
Under the partnership, customers will benefit from a range of attractive financing options designed to make vehicle ownership more accessible and convenient.
Key highlights of the financing programme include:
- Competitive interest rates to reduce the overall cost of vehicle ownership
- Quick loan approvals through streamlined processing
- Simplified documentation for a hassle-free financing experience
- High loan-to-value funding options to minimise upfront investment
- Flexible repayment tenures tailored to customer requirements
Commenting on the partnership, Prashant Kumar, Chief General Manager – Marketing, SML Mahindra, said, “We are delighted to partner with UCO Bank to make vehicle ownership more accessible and affordable for our customers. At SML Mahindra, we remain committed to delivering mobility solutions that support the evolving needs of businesses. With UCO Bank’s strong banking network and customer-focused approach, purchasing an SML Mahindra vehicle will now be easier and more rewarding for customers across the country.”
Milan Dubey, Deputy General Manager & Zonal Head, UCO Bank, added, “Customer-centricity is at the core of UCO Bank’s values. This collaboration enables us to extend our financial solutions to a vital segment of the transport and logistics industry. Through flexible, competitive and efficient financing options, we aim to support entrepreneurs and contribute meaningfully to the country’s economic growth.”
Through this partnership, SML Mahindra and UCO Bank aim to enhance access to finance for commercial vehicle buyers, helping small businesses and fleet operators expand their operations with greater ease and confidence.