Easy eligibility criteria for Tata Nano loans

Banks made arrangements with Tata Motors for the finance of its recently launched world's cheapest car Tata Nano. Banks had made minimum eligibility criteria to ensure that the low-middle class remains attracted for the href=carmodels/Tata/Tata_Nano>Tata Nano loan schemes.

United Bank of India (UBI) has announced that it will offer loans for Tata Nano to individuals who has minimum monthly income as low as Rs 5,000. It’s a different matter that that the people who has gross monthly salaries in the range of Rs 25,000-30,000 have also largely shown booking interest. However, Canara Bank and Indian Bank have kept the eligibility norms little bit tighter. Canara Bank, for instance, announced that it it will offer Tata Nano loans to individuals who has a minimum annual income of Rs 1.50 lakh a year, and Indian Bank has kept the threshold at Rs 1.80 lakh per annum.

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