(Curious Public having a look at the Nano on display at Mallik Motors,Road
no:1,Banjara Hills)
Hyderabad|India|April'2009:
The booking of the
Tata Nano opened from April 9th and will continue up to the end of day on
April 25, 2009. Tata Motors has entered into agreements with 18 preferred
banks/NBFCs to enable prospective customers to get finance and facilitate
booking of the car.
The sale of application forms has already started
from April 1, to a very encouraging response. The
Tata Nano website has recorded over 50 million (5
crore) hits, including over 20 million (2 crore)
hits in the fortnight since the launch on March
23, 2009. The forms are available at a price of
Rs.300 (for online booking Rs.200). The forms can
be bought at over 30,000 locations in about 1,000
cities through Tata Motors Passenger Car
dealerships, State Bank of India and its branches,
its subsidiaries and associates, other preferred
financiers, and outlets of Westside, Croma, ‘World
of Titan’ and Tata Indicom exclusive stores. The
forms come with a range of offers from select
associate Tata Group companies up to Rs.1100.
Customers can either
pay the entire booking amount -- of Rs.95,000 (Tata Nano Std.), Rs.120,000
(Tata Nano CX), and Rs.140,000 (Tata Nano LX) -- themselves or seek
financing of the booking amount.
Booking amount financing available from Rs.2850
The company’s
partnership with the preferred financing partners has enabled attractive
options of financing the booking amount, which start from a low of
Rs.2850. The details are as follows:
|
Preferred banks/NBFCs
|
Financing of booking amount of Rs.95000 for the Tata Nano Std. version
|
|
State Bank of
India
|
Rs. 2,999
|
|
Canara Bank
|
Rs. 2,850
|
|
Tata Motor Finance
|
Rs. 3,199
|
|
Corporation Bank
|
Rs. 2,999
|
|
Central Bank of
India
|
Rs. 3,256
|
|
Indian bank
|
Rs. 3,343
|
|
State Bank of
Tranvancore |
Rs. 2,999
|
|
State Bank of
Bikaner and Jaipur
|
Rs. 2,999
|
|
State Bank of
Indore |
Rs. 3,516
|
|
State Bank of
Patiala |
Rs. 2,999
|
|
State Bank of
Hyderabad
|
Rs. 2,999
|
|
State Bank of
Mysore |
Rs. 2,999
|
|
ICICI Bank Ltd.
|
Rs. 2,999
|
|
Union Bank of
India
|
Rs. 2,950
|
|
United Bank of
India
|
Rs. 3,137
|
|
Punjab National
Bank |
Rs. 3,733
|
|
UCO Bank
|
Rs. 2,975
|
|
The Federal Bank
Ltd. |
Rs. 4,110
|
|
Corporation Bank
|
Rs. 2,999
|
Customers can submit
their application forms to their chosen financier. The financier will, on
their behalf, submit their application forms to the State Bank of
India,
which is managing the booking process. Those who are themselves paying the
entire booking amount can submit their application forms directly to
State Bank of India through 1,350 notified branches in 850 cites, and also
at Tata Motors Passenger Car dealerships, Westside and Croma outlets.
Option to submit bookings online is available at
www.tatanano.com.
Retail auto loan interest rates for the Tata Nano
Post the successful
allotment of the bookings, customers can convert their booking loan into a
retail auto loan for the Tata Nano at very attractive rates with the
preferred financiers:
|
Preferred banks/NBFCs
|
Interest rate post Allotment |
|
State Bank of
India
|
11.75%
|
|
Canara Bank
|
9.5-11%
|
|
Tata Motor Finance
|
12 – 13%
|
|
Corporation Bank
|
11-11.5%
|
|
Central Bank of
India
|
9.5-11%
|
|
Indian bank
|
11%
|
|
State Bank of
Tranvancore |
11.75-12%
|
|
State Bank of
Bikaner and Jaipur
|
11.75%
|
|
State Bank of
Indore |
11.50%
|
|
State Bank of
Patiala |
11.50 – 12%
|
|
State Bank of
Hyderabad
|
11.75%
|
|
State Bank of
Mysore |
11.25-11.75%
|
|
ICICI Bank Ltd.
|
13.00%
|
|
Union Bank of
India
|
11-11.25%
|
|
United Bank of
India
|
9%
|
|
Punjab National
Bank |
11%
|
|
UCO Bank
|
11 – 11.50%
|
|
The Federal Bank
Ltd. |
14.25%
|
|
Corporation Bank
|
11-11.5%
|
Insurance premium for the Tata Nano
Tata Motors has also entered into agreements with five partner insurance
companies to offer comprehensive insurance, under the ‘Tata Motors
Insurance’ banner, for the Tata Nano at a rate of just 2.76% of the
ex-showroom price of the car, the most competitive in the industry. In
New Delhi, the insurance
premiums will be as follows:
|
|
Nano |
Nano CX |
Nano LX |
|
Ex-showroom price
New Delhi (Rs.)
|
123360 |
148360 |
172360 |
|
Insurance premium (Rs.) |
3468 |
3959 |
4431 |
The empanelled
insurance companies are National Insurance Co Ltd, ICICI Lombard General
Insurance Co Ltd, Royal Sundaram Alliance General Insurance Co Ltd, United
India Insurance Co Ltd and HDFC Ergo General Insurance.
Deliveries
Within 60 days of the closure of bookings on April 25th , 2009,
Tata Motors will process and announce the allotment of 100,000 cars in the
first phase of deliveries, through a computerised random selection
procedure. These 100,000 allotments will be price protected for the launch
prices till delivery of the cars but the booking amounts will not bear any
interest for the customers. Deliveries will commence from July 2009.
Applicants have the
option to retain their booking deposit, even if they do not get allotment
in the first phase. Those who choose this option will be eligible for
interest on their deposit, effective from the date of announcement of
allotment of the second phase, at a rate of 8.5% for retention period
between one year to two year and 8.75% for a retention period of more than
2 years. Allotment of retainees will be simultaneously communicated, along
with the allotment of the first 100,000 cars.
Reachout's News Bureau
April' 2009
To continue till
end of day April 25 