In yet another move to boost the sales of its small car Tata Nano, Indian auto giant Tata Motors has now tapped into its large pool of employees. The company is offering a special finance scheme for employees who earn monthly salary of Rs 12,500 and above to purchase Nano model. At present, total number of employees at Tata Motors is about 24,000.
As per this new finance scheme, Tata Motors employees can secure a car loan with 4 years duration at an annual interest rate of as low as 2 percent, which is very low as compared to the interest rate of around 10%, charged to other customers. Tata employees have been offered 100 percent loan and the company will charge no processing fees under this scheme. The new finance offer will be valid till the New Year.
In an internal circular sent to the employees in the starting of this week, the company has stated that besides employees, their blood relatives are also allowed to take finance under this new scheme, as long as the monthly loan installment can be debited from the salary account of these particular employees.
According to this offer, Tata employees will be able to save up to Rs 60,000 on a four years loan scheme.
