Come February end and you can book your Tata Nano by paying a deposit of around Rs. 70,000.

According to sources all dealers of Tata Motors and branches of State Bank Of India will accept the bookings simultaneously across the country in the next three weeks. Initially 100 branches of SBI will be engaged and the number will eventually be increased to 1000.

India’s largest bank SBI has entered into an exclusive arrangement with Tata Motors for the Nano. The bank is not only the sole lender for the Nano but will also offer its branches for bookings.

With an initial estimated booking figure of over a lakh, the wait inspite of paying Rs. 70,000 will be quite long. Allotment will be made through a draw.

Tata Motors plans to launch the Nano in March with the cars rolling out from the Pantnagar plant which has current capacity of a measly 3,000 units.

The supply-demand will ease out once the Sanand Plant in Gujrat comes up which has an initial capacity of producing 2,50,000 units. The plant is still under construction and will take around a year to start production.