Tata to give higher return on Nano booking
Tata Nano customer will be happy whether he gets the car or not. Yes, experts says that the loser in the lucky draw will get better returns than a fixed deposit on Tata Nano booking amount as the reverse repo and repo rates cut down by RBI. That means a customer, who couldn't get through in lucky draw, will get a higher return for retaining the booking amount for the next draw i.e. 8.5% than a fixed deposit in a bank i. e. 7-8%. Tata Motors will give 8.5% interest for people who have to wait for their car delivery between one to two years and 8.75% for over two years.
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Tata Nano customer will be happy whether he gets the car or not. Yes, experts says that the loser in the lucky draw will get better returns than a fixed deposit on Nano's booking amount as the reverse repo and repo rates cut down by RBI. That means a customer, who couldn't get through in lucky draw, will get a higher return for retaining the booking amount for the next draw i.e. 8.5% than a fixed deposit in a bank i. e. 7-8%. Tata Motors will give 8.5% interest for people who have to wait for their car delivery between one to two years and 8.75% for over two years. Tata Motors will only be able to allot only one lakh cars in the first phase, within two months of closure of bookings. As against this, a fixed deposit with a PSU like United Bank of India will fetch an interest of 8% for 36 months. Presently, SBI offers 7.75% on deposits (below one crore) for a period of one to less than two years, while a deposit for two years to less than 1000 days, fetches interest of 8%. Experts says that it would be better investment than investing in a FD. So it would make sense to retain the deposit with the bank till the time the next allotment takes place, say banking experts.
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