Making the offer irresistible, customers can also convert the entire amount in monthly installments at 0% interest, over a period of 12 months, at an EMI of Rs.8,333 per lakh.
Tata Nano has partnered with five banks for this special scheme -- Axis Bank, HSBC Bank, ICICI Bank, Kotak Mahindra Bank and Standard Chartered Bank. Customers in India, who have credit cards belonging to these banks can avail of this special scheme in 26 cities, across 75 Tata Motors Dealerships.
According to Mr. Ranjit Yadav, President, Passenger Vehicles Business Unit, Tata Motors, "We are proud to offer this industry first phenomenon to our customers. This offer will enable customers to own a car in the fastest and hassle free manner.
With the introduction of this offer, consumers get the benefit of converting the entire amount on the credit card into interest free installment, spread over a period of 12 months and manage monthly cash flow better. We would like to thank all our partner banks who have supported this special offer, exclusively for the Tata Nano, added further.
Shares of the Tata Motors ended the day higher by 2.94% at Rs 309 on BSE.