Now, Nano Buyers Can Take Loan from Any Bank!
Posted on March 30th 2009Welcome back!
Now Nano Buyers can get loans from any bank in the country. Even though Tata Motors had signed a deal with SBI (state Bank of India) for its Nano, the buyers are allowed for other banks also.
People can seek loans for the Nano from any other bank as well. The tie-up is meant to manage all booking points, including distribution and collection of applications.
- Mr. Bhatt (SBI Chairman) told reporters.
Mr. Bhatt told that this deal was approved as it’s not possible for any industry to go to numerous banks to manage supply and gathering of all applications.
However most of the collection of application would be made by SBI, others could do the same.
According to Mr. Bhatt, SBI would charge 10% interest rate on the car loans to burchase the Tata Nano in 1st year and later the interest rate would be the similar as other vehicles loans.
By editor in Auto India News, Tata Motors