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Tata Motors opens Nano sales in 4 states

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Tata Motors today announced open sales of the Tata Nano in the states of Maharashtra, Karnataka, Uttar Pradesh and West Bengal. Residents of these 4 states, who are desirous of driving home a Tata Nano but had not booked the car during 2009, will be able to purchase a Tata Nano now. Customers will be able to take a closer look at and test drive the Tata Nano across all Tata Motors dealerships and special Nano access points. Tata Motors has tied up with 25 banks to offer customers with loans for purchasing the Tata Nano at attractive rates of interest. More such arrangements are in process. Loans for the Tata Nano will be available at all the branches of these banks.

The arrangements are:

Bank/NBFC

Tenure  (up to) of years

LTV (upto)

Rate range

State Bank Of India

7

85% (on-road)

8% to 11.5%

Central Bank of India

7

85% (on-road)

9.5% to 11%

United Bank of India

6

90% (Ex Showroom)

10% to 11%

HDFC Bank

5

90% (Ex Showroom)

11% to 12.5%

ICICI Bank

5

90% (Ex Showroom)

10.5% to 11.5%

TATA Motor Finance

4

90% (Ex Showroom)

11% to 15%

UCO Bank

5

85% (on-road)

10.5% to 11%

Bank of Baroda

7

85% (on-road)

9.75 to 10.5%

State Bank of Patiala

7

85% (on-road)

8% to 10.5%

State Bank Of  Hyderabad

7

85% (on-road)

11% to 11.5%

Indus Ind Bank

4

80% (Ex  Showroom)

11% to 12%

State Bank Of Mysore

7

85% (on-road)

11% to 12%

Punjab National Bank

7

90% (on-road)

10.50%

Saraswat Bank

7

90% (on-road)

10% to 11%

Federal Bank

5

90% (Ex  Showroom)

9.5% to 10%

Sundaram Finance

4

90% (Ex  Showroom)

12%

Vijaya Bank

6

80% (On Road)

9.50%

 

Reliance

2

80% (Ex   showroom)

12.50%

Canara Bank

6

90% (on-road)

10%

Corporation Bank

7

85% (on-road)

8% to 10%

Shriram Finance

3

Rs. 75000

19% to 22%

Magma

5

85% (Ex   Showroom)

13.75% to 16.25%

State Bank of  Travancore

7

85% (on-road)

11% to 11.25%

L & T Finance

5

90% (Ex   Showroom)

16%

Andhra Bank

6

85% (on-road)

10.75% to 11.5%


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Courtesy: Tata Motors India



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Posted by Naresh Koshti on 6 October, 2010 4:53:30 PM IST #