Information on Bank loan for Buying Tata Nano

Want a loan for Tata Nano...? Is your monthly salary Rs 6,250..?

state Bank of India has relaxed the income eligibility criterion for customers interested in applying for car loans to buy a Tata Nano.As a result, the potential buyer base has widened considerably for the country’s least expensive car.

The minimum income eligibility would be Rs 75,000 a year for customers drawing regular salaries and Rs 1 lakh a year for the self-employed, said a senior SBI official.At present, the income eligibility criterion to apply for SBI car loan is Rs 1 lakh both for salaried and self-employed people. Click here to read more...


UCO Bank to sign agreement to offer loans for Nano


UCO Bank said it is going to sign an agreement with Tata Motors in order to offer loans
to people planning to book Nano.
Bank chairman S K Goel said here on Friday that the agreement would be signed next week.

Uco Bank has also announced a car financing pact with Maruti Suzuki India on Friday to boost its auto loan business. The bank is also talking to a host of other auto makers including Bajaj Auto and Mahindra & Mahindra for financing agreements, Mr Goel said. Click here to read more...

Tata Nano Buyers can now Get loan from any SBI Bank branche's

Buyers can seek loans from any bank to buy Tata Motors' Nano car despite the company signing a deal with State Bank of India (SBI),SBI Chairman O P Bhatt said.

"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," Bhatt told reporters here on the sidelines of a programme at XLRI last night. Click Here to read more....

Extending loan for Tata Nano cost's you Rs 1,425 per anam

If you don’t get to own a Nano in the first phase of allotment, you will have to shell out at least Rs 1,425 a year if you wish to extend the period of your bank loan
for retaining the booking deposit with Tata Motors. This outgo will be over and above the interest payable for the initial three-month booking period. Click here to read more..

Banks to charge a fee for retaining the booking deposits of Nano

A Tata Nano aspirant who does not get the allotment at the first phase is expected to pay an additional fee for retaining their booking deposits for the second phase. If an individual wants to extend his loan period to retain the booking deposit with Tata Motors then he will have to shell out a payment that is over and above the interest payment for the period. Click here to know more..