"We have distributed lakhs of applications for Nano across the country. We are getting a tremendous response from people for Nano," SBI chairman O P Bhatt said.
The lender has inked an exclusive agreement with Tata Motors for the management of the bookings of Nano through its pan-India network. Around 1,350 branches of SBI in 850 cities would assist in the booking process of the Nano.
Booking forms will be distributed and the filled-up application forms with the booking amount will be collected through SBI's branches.
The bank will be marketing the application forms through its 11,111-plus branches. Customers will be provided end-to-end processing with a bouquet of retail products for the bookings.
Apart from extending loans for Nano purchase, the refund to unsuccessful applicants will also be available at SBI branches, SBI said.
The sale of application forms and acceptance of booking amount at SBI branches will start from April 9 and will go on till April 25.
SBI will be using its cash management product, SBI Fast, for the processing and has also set up a 24x7 helpline to facilitate the booking process, the release said.
SBI loan product will enable applicants for booking the Nano by financing 100 per cent amount at a low down-payment amount starting from Rs 2,999, the release said.
The Nano car loan can be availed up to a maximum period of seven years for 11.75-12 per cent interest rate, the release said.
