The State Bank of India has entered into an agreement with Tata Motors for the management of bookings of the Nano through its 11,111 plus branch network.
Through this tie-up,a total of 1,350 branches of State Bank of India would assist in the booking process. The booking forms would be distributed and filled up application forms with booking amount will be collected through more than 1,350 branches in 850 plus cities,besides,Tata Motors passenger car dealerships nationwide,Croma and Westside stores. SBI will be marketing the application form sale from 11,111 plus branches and marketing teams would provide information to customers and generate leads.
A press release issued by SBT said that the sale of application forms and acceptance of booking amount at SBI branches will start from April 9,2009 till April 25,2009. SBI will be using its SBI FAST,the Cash Management Product,which is suitably poised to handle bulk centralised collection and payment services. SBI has also set up a 24X7 help line to facilitate the booking process.
SBI Booking Financing Option: Individuals can either pay the entire booking amount by themselves or seek financing. SBI has entered into agreements with Tata Motors for the SBI booking loan product. The SBI booking loan product will enable applicants for booking a Tata Nano by financing 100 per cent booking amount at low down payment amount starting from Rs 2.999 onwards. The Nano car loan can be availed up to a maximum period of 7 years at very competitive interest rates,which presently are between 11.75 to 12% per annum,said the release