SML Mahindra, one of India’s commercial vehicle manufacturers, has signed a Memorandum of Understanding (MoU) with UCO Bank, a prominent nationalised bank, to offer customised and affordable retail financing solutions to customers across the country. This strategic alliance is designed to empower entrepreneurs and fleet operators by simplifying the vehicle acquisition process.
The partnership was made official following a successful meeting between Milan Dubey (DGM & Zonal Head, UCO Bank) and Prashant Kumar (Chief General Manager – Marketing, SML Mahindra), who joined together to solidify this collaborative framework. Through this partnership, customers can seamlessly secure vehicle financing across UCO Bank’s extensive nationwide branch network.
Key Highlights of the Financing Partnership:-
Attractive Interest Rates: Competitive and affordable financing rates to minimise the cost of ownership.
Quick Loan Approval: Streamlined and fast-tracked processing to ensure rapid vehicle delivery.
Simplified Documentation: Hassle-free and customer-friendly paperwork for a seamless buying experience.
Maximum Funding Options: High loan-to-value options to lower upfront capital requirements for businesses.
Comfortable Repayment Tenures: Flexible, structured repayment schedules.
Speaking on the alliance, Prashant Kumar, CGM – Marketing, SML Mahindra, said, “We are thrilled to announce this strategic partnership aimed at making retail vehicle ownership more accessible and affordable for our customers. SML Mahindra has always been committed to delivering evolving mobility solutions, and with UCO Bank’s robust banking network, buying an SML Mahindra vehicle has just become significantly easier and more rewarding for our customers.”
Milan Dubey, DGM & Zonal Head, UCO Bank, added, “Customer-centricity is at the core of UCO Bank’s values. This collaboration allows us to extend our financial products to a critical segment of the transport and logistics sector. By providing flexible, competitive, and fast-paced retail financing, we aim to support entrepreneurs and contribute meaningfully to the country’s economic growth.”
SML Mahindra Limited offers a highly specialised range of commercial vehicles, including 5 to 12 ton cargo vehicles and 12 to 62 seater passenger transportation solutions, widely preferred in the logistics, school and staff mobility segments. The company ensures reliable service and genuine spare parts availability through its nationwide network of over 400 touchpoints.
With this partnership, both organizations aim to drive higher efficiency in the retail commercial vehicle market, ensuring that small businesses and fleet owners have easy access to institutional credit.
