TATA Nano booking numbers.

TATA Motors have not yet come out with the official numbers of Tata Nano booking. But its wide spread that the numbers have crossed one million.
TATA Motors say that the official numbers will come in few days, they are in the process of counting the forms.

Even the banks which took Nano financing and booking didn't give the numbers.

The only source giving the number was carwala.com which accepted the booking of NANO online. Carwals has booked around 10,000 cars from around 500 cities.

Out of these 10K bookings 55% of the bookings have been done for the top version and 25% and 20% for middle version and the base model respectively.

I will update the exact number of bookings as soon as the company comes out with the list. Be a backed for it!

Booking a NANO can give you higher returns than FD.

If you book a Nano, and unfortunately not selected in the draw, do not despair as your booking amount will fetch you better returns than even a fixed deposit. With RBI's recent reverse repo and repo rate cuts, banks have started slashing deposit rates, with fixed deposits now fetching lesser interest rates as against what Tatas will pay on your booking amount.

Booking for the Nano which opened on April 9, will close on April 25. Tata Motors will only be able to allot only one lakh cars in the first phase, within two months of closure of bookings. But for those who are not successful in getting the car in the first phase, have the option to retain their deposit on which Tata will pay an interest of 8.5% for people who have to wait between one to two years to get their Nano, and 8.75% for over two years.

As against this, a fixed deposit with a PSU like United Bank of India will fetch you an interest of 8% for 36 months. SBI at present offers 7.75% on deposits (below one crore) for a period of one to less than two years, while a deposit for two years to less than 1000 days, fetches interest of 8%.

"This is a great offer. Even if a customer is not successful in getting selected in the draw the first time, he can retain his booking amount over six to eight months on which Tata will pay more than what he would have earned if he had invested in a FD," a bank official said. The booking amount is Rs 95,000 for the base variant , Rs 1.2 lakh for middle and Rs 1.4 lakh for the top-end airconditioned model.

So it would make sense to retain the deposit with the bank till the time the next allotment takes place, say banking experts, if you are serious about buying the car, while at the same time earning a higher return (8.5%) than a fixed deposit in a bank (7-8 % or even lower if revised downwards over the next few days).

The one-lakh car has met with an astounding response with most bookings coming for the top-end air-conditioned model, which carries a price tag of Rs 1.72 lakh (ex-showroom Delhi). The top variant in Mumbai is priced at Rs 1.85 lakh. Tata Motors has said that it would be able to produce only 50,000 units of Nano from its Pantnagar facility in Uttarakhand, until its dedicated plant at Sanand (Gujarat) starts production late this year. - ET

Tata Motors Fixed Deposit Plan Schemes

Tata Motors recently announced its Fixed Deposit plan, which is open for subscription to Resident Indians, NRIs, HUFs and Registered Societies, among others.

The fixed deposit plan has generated quite a bit of excitement, as it gives a yield of 12.83% on its 3 year — Cumulative Deposit Plan. Remember, this is the yield and not the interest rate. The interest rate remains 11%, which is still pretty high for a fixed deposit.

Tata Motors Fixed Deposit Plan Schemes

Here are the two schemes that an investor can choose from:

Scheme A

Quarterly Income Plan

Scheme B

Cumulative Deposit Plan

Tata Motors Fixed Deposit Plan - For NRIs

NRIs can invest in the Fixed Deposit Plan if they deposit the amount from their NRO Account and this amount doesn’t represent an inward transfer from a NRE / FCNR (B) account. Interest will be deposited in this NRO Account and NRIs need to submit their Indian address while making the application.

Tax Deduction at Source

Tax will be deducted on source from the interest of this Fixed Deposit Plan according to the provisions of the Income Tax Act 1961 for residents and NRIs.

For NRIs — the tax will be deducted at source, as the current provisions of Income Tax Act 1961 doesn not allow interest exemption on interest earned from deposits with companies.

Subscription to Tata Motors Fixed Deposit Plan

You can subscribe to this plan through your broker. ICICI Direct has a link to it where you can subscribe to it online. If your broker doesn’t have the facility to subscribe to this plan — then you can also submit the application form at select bank branches. via