State Bank of India (SBI) has identified 133 branches in the Bengal circle, comprising, Sikkim, Andaman and Nibobar islands and West Bengal, for sale of application forms to book the Tata Motors Rs 1 lakh car, the Nano.
The bank had recently entered into an agreement with Tata Motors for bookings the car through SBI branch network.
The facility will be available in nearly 30 branches of SBI in Kolkata, including the regional head office of the bank on Strand Road.
This apart, all the district headquarters will have at least one branch for purchasing the Nano booking form.
In Andaman, the bookings will take place through a branch in Port Blair. In Sikkim, five branches have been selected for the purpose.
Sources said, one day after the launch of Nano, SBI had been flooded with phone calls with queries regarding the booking procedure and interest rates on loan for purchasing Nano.
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According to the agreement between Tata Motors and SBI, the filled up application forms with booking amount will be collected through more than 1350 SBI branches in more than 850 cities.
The refund of the booking amount will also take place in SBI.
The sale of application forms and acceptance of booking amount at SBI branches will be between
April 9th to April 25, 2009. SBI will use SBI FAST, a cash management product, for bulk centralised collection and payment services. Buyers could either pay the entire booking amount by themselves or seek financing from SBI. SBI had an agreement with Tata Motors for a loan product as well.
The SBI booking loan product will enable applicants for booking a Tata Nano by financing 100 per cent booking amount at down payment amount starting from Rs 2,999 onwards. Nano car loans had a maximum tenure of seven years.