Now, you can buy a Nano on your credit card

Tata Motors has launched a scheme that enables potential buyers of its small car, the Nano, to use credit cards to purchase the world's most affordable car.

Buyers can also convert the entire purchase amount in monthly instalments at 0 per cent interest, over a period of 12 months, and at an EMI of Rs8,333 per lakh.

Tata Motors has tied up with five banks to provide the credit-card purchase facility to their credit card holders -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, the company said in a statement.

''This offer will enable customers to own a car in the fastest, most hassle-free manner," says Tata Motors president (passenger vehicles business unit) Ranjit Yadav. "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 being able to manage their monthly cash flow better.''

Yadav also added the company would provide the buyers of the Nano with a top grade "customer engaing" experiene, bavked by excellent after sales service across the country.