For ‘Nano’ no interest charge for 3 months: BoI
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If you take loan for the Tata Nano from Bank of India, you will not be charged any interest. This is told in a press release of bank. It said that Bank of India, which is not one of the preferred lenders for Tata Nano, has come out with a moratorium scheme for auto loans. This scheme will ensure that its customers don’t go to other banks for loans for the Tata Nano. The bank is charging a floating rate of interest of 10.25 per cent with a repayment period of less than 36 months and 10.75 per cent between three and six years. For the booking amount, the charge is 12 per cent fixed rate of interest and it is available only till delivery of the vehicle.
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