Tata Group stores and State Bank of India branches on Thursday started issuing application forms to book the Rs.1-lakh Nano, the world’s cheapest car.Tata Motors is making the forms available at around 30,000 centres across India. The booking closes on April 25.
Besides Tata Motors showrooms, the forms, which cost Rs.300 each, are available at Tata Group ventures including Titan showrooms, Tata Indicom centres, Westside and Croma stores. These stores are also offering discounts to customers on purchase of the forms. One person can submit only one form.
Tata Motors has State Bank of India as its main partner to sell and receive the forms, while other banks are also offering loans to book the car. Customers can either pay the entire booking amount or seek finance from 15 other banks. Booking can be done online.
The three variants of the Nano are priced between Rs.1.23 lakh and Rs.1.72 lakh in Delhi. The booking amount is between Rs.95,000 and Rs.1.4 lakh.
Tata Motors Finance will provide a 100 % loan for the booking at an interest rate of 12 to 13 % with a 3-year tenure.