Customers can seek Nano loan from any bank: Bhatt
Published On Mar 30, 2009 10:34 PM By Ritesh
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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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