Carmaker Tata Motors [Get Quote] said on Tuesday it has entered into a tie-up with the Union Bank of India [Get Quote] for financing its range of passenger vehicles.

UBI offers car loans up to 85 per cent of invoice, for tenure ranging up to five years, at a rate of 11-11.25 per cent, Tata Motors said.

The loan facility will be available at all branches of Union Bank of India and 329 sales touch-points of Tata Motors.

This tie-up will provide a single-window for both cars as well as car loans and will make car buying easier for customers, the statement said.