Mumbai, February 10, 2024 – In a move that’s paving the way for construction enthusiasts and industry giants alike, Mahindra’s Construction Equipment Division (MCE) and Bank of Maharashtra have joined forces, quite literally laying the groundwork for financial ease. With an offer that’s hard to refuse, they’re promising EMIs starting from a mere INR 51,000 per month, among other jaw-dropping financial flexibilities.
Under the dazzling lights of Mumbai, a Memorandum of Understanding (MoU) was signed, sealing a strategic partnership destined to revolutionize the construction equipment finance landscape. The ceremony saw the presence of Mahindra’s Commercial Vehicles Business Head, Jalaj Gupta, and the Bank of Maharashtra’s Retail & MSME GM, Rajesh Singh, along with other high-profile dignitaries.
This dynamic duo is offering a financial toolkit that’s nothing short of a jackpot for construction moguls: low-interest rates starting from 9%, up to 90% on-road funding, extended loan tenure up to 7 years including a moratorium period, and a generous 50% waiver on processing fees.
Gupta, amidst the ceremonial ambiance, shared, “This partnership is not just about making financial ends meet; it’s about building dreams with the best tools in hand. With Bank of Maharashtra’s vast network and trust across the country, we’re bulldozing barriers to success for our customers.”
Bank of Maharashtra steps into the spotlight with its extensive network, boasting over 2,400 branches and 46 Zonal offices, ready to cater to the financing needs of construction aficionados. The bank’s newly minted Mahabank Equipment Finance is set to fuel the ambitions of those in construction, mining, and more, offering a lifeline for the purchase of essential equipment.
As Mumbai buzzes with the news of this groundbreaking partnership, construction equipment buyers can now gear up to build their dreams, brick by brick, without the financial load weighing them down.