NEWS & ADVICE : CAR LOANS
Tata Motors sign pact with India Post
By Vaibhav Aggarwal
Apr 24, 2009
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Leading auto-maker, Tata Motors has entered into an agreement with India Post for increasing its reach to distribute the booking forms for Tata Nano.

As per the tie-up, India post will sell the booking forms and accept loan forms of Tata Nano through its 141 major post offices spread across the country.

The service will be extended on the selected post offices from April 22nd, 2009 on all the working days. The time period for issuance may be extended by keeping in view the demand. The form is available for a price of Rs 300.

There are six major post offices selected in Punjab and Chandigarh for distributing the booking forms and accepting the loan forms. The General Post office Chandigarh and head Post offices of Ludhiana ,Patiala, Amritsar, Bhathinda and Jalandhar have been identified centers for the purpose.

There are many PSU banks that are also distributing and extending loans for the booking amount of Nano.

In fact banks have eased the eligibility criteria for Tata Nano aspirants. SBI is offering the loans to people with an annual income of Rs 75,000. Even United Bank of India is offering Nano loans to individuals with a minimum monthly income of Rs 5000 or Rs 60,000 per annum.

 


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