SBI to begin Tata Nano booking tomorrow

State Bank of India (SBI) will begin the sale of booking forms for Tata Nano, world’s cheapest car, from tomorrow. The company already sold over 50,000 forms from its dealerships. The application from can be purchased at a cost of Rs 300 each but the online booking will cost only Rs 200. The filled up forms can be submitted with an upfront payment of around Rs.95,000 - or Rs.2,999, if they wish to get it financed, company officials said. The company will bring only 100,000 vehicles for the first phase. So a lottery will decide the lucky ones who will possess the Tata Nano. Winners from the draw of lots would be announced 60 days after the bookings close. “We have already sold 50,000 forms at our dealerships. This figure does not include the sale at our Westside apparel stores and Croma appliance outlets, said an official with Tata Motors in Mumbai. Tata Motors's have also tied up with 15 national banks such as Bank of Baroda, Punjab National Bank, Bank of India and Dena Bank to facilitate the easy disbursement of loans for its vehicles.

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