State Bank of India on Monday said it has entered into an exclusiveagreement with Tata Motors for the management of the bookings of Nano throughits pan-India network.

Through the agreement, around 1,350 branches of SBI in 850 cities would assistin the booking process of Tata's Rs1 Lakh car, the bank said in a press releaseissued here. Booking forms will be distributed and filled up application formswith booking amount will be collected through SBI's branches.

SBI will be marketing the application form sale from 11,111 plus branches.Customers will be provided end-to-end processing with a bouquet of retailproducts for the bookings, the release said.

Apart from extending loans for Nano purchase, the refund to unsuccessfulapplicants will also be available at SBI branches, the release said.

The sale of application forms and acceptance of booking amount at SBI brancheswill start from April 9 till April 25, 2009, it said.

State Bank will be using its cash management product, SBI Fast, for theprocessing and has also set up a 24x7 helpline to facilitate the bookingprocess, the release said.

SBI loan product will enable applicants for booking a Nano by financing 100 percent amount at low down payment amount starting from Rs 2,999, the releasesaid. The Nano car loan can be availed upto a maximum period of seven years for11.75-12 per cent interest rate, the release said.