Customers can seek Nano loan from any bank: Bhatt
State Bank of India (SBI) Chairman O P Bhatt cleared that though most of the loan application would be done by SBI, other banks could also do the same. Bhatt added that the deal which was signed with Tata Motors as it was not possible for any company to go to hundreds of the banks to handle such a huge distribution and collection of application. Further he made it very clear that customers can seek loans from any bank to buy Tata Motors’ Nanocar despite the company singing a deal with SBI. Bhatt said SBI would charge 10 per cent interest on car loans to buy the Tata Nano in the first year and later the rate would be the same as other automobile loans.
Ritesh
Published On Mar 30, 2009 22:34 IST
Published OnMar 30, 2009 22:34 IST
Last Updated OnMar 30, 2009 22:34 IST
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State Bank of India (SBI) Chairman O P Bhatt cleared that though most of the loan application would be done by SBI, other banks could also do the same. Bhatt added that the deal which was signed with Tata Motors as it was not possible for any company to go to hundreds of the banks to handle such a huge distribution and collection of application. Further he made it very clear that customers can seek loans from any bank to buy Tata Motors? Nano car despite the company singing a deal with SBI. Bhatt said SBI would charge 10 per cent interest on car loans to buy the Tata Nano in the first year and later the rate would be the same as other automobile loans.
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<p>Having worked as an Auto Journalist for the past 5 years, Ritesh is keenly passionate about digging more on automobiles and things related. His journey as a journalist so far consists of different profiles that helped him groom on various platforms within the automobiles industry. He kept rolling on technical experience during his career as a Road Test Editor, which finally took him to a level where he turned to be an Editor-in-Chief of CarDekho.com, India's no. #1 automotive giant. </p>
<p>Another side of his creative life is easily visible the photography that he carries out in order to serve the CarDekho news readers with the latest and natural pictures of newly launched cars. Additionally, he is the one who foresees all auto news articles that are to be published making it sure that CarDekho readers get the latest and the best automotive news first. "Life is a highway, keep driving", Says Ritesh.</p>Read more
