Looking to buy a Nano? Pay up for loan forms

New Delhi: This is news for those of you who want to buy the Tata Nano on loan – application forms will cost you a fee.

Tata Motors is likely to charge around Rs 300 for every application. This is the first time that a manufacturer will be charging a fee for a loan application.

However, this money will be refunded if the application is rejected.

Sources say that forms will be collected through various channels but transferred to the State Bank of India (SBI).

All the forms and the collected money will be transferred to SBI, where they will be processed, and loans will be given through various banks within 90 days.

Bookings are expected to start by the last week of March.