Bike Loan PNB

Hi I would like to know the loan scheme which is being offered by the Punjab National Bank for purchasing two wheelers?

[Pathak]

PNB India offers Two Wheeler Finance Schemes under PNB SAARTHI. You can get subtle elements of Interest Rates, Documents, Processing Fees and charges, Amount of advance, Repayment Period and so forth. PNB Currently offers credit for buy of new bikes viz. Scooter(s), Motor cycle(s), Moped(s).

Reason

For buy of new Two wheelers viz.: Scooter(s), Motor cycle(s), Scooterrete (s), Moped(s), (subject to Registration of vehicle with RTO).

Qualification

Existing PNB clients with no less than 6 months attractive value-based record OR new client with tasteful reputation of most recent one year with other Bank/FI in the age gathering of 18 years and 60 years holding a legitimate driving permit.

Salaried people drawing compensation from our bank or under confirm office from the business.

Understudies, 18 years or more till profitably utilized, with salaried guardian as co-borrower drawing pay from our bank;

Business concerns (Corporate or non –corporate)

Pay Criteria

Least Net Monthly Income of Rs.10,000/ - p.m.

If there should arise an occurrence of understudies, Income/compensation evidence of guardian/watchman who will be co-borrower considered.

Wage of life partner can be contemplated for deciding the salary criteria gave tasteful confirmation of pay is created.

Wage of business concerns be checked from Income Tax Returns recorded and challans for Tax Deposited.

Quantum of Finance
Need based
Edge

Where compensation is being dispensed through the concerned bank office and/or

Check-off office.
10%

Business concerns
25%

BASE RATE: 9.60% w.e.f. 01.10.2015

Rate of Interest
Condition/Repayment
Less than 3 yrs
3 yrs & above

Where salary is being disbursed through the concerned branch and/or undercheck off facility
BR + 3.00%
BR + 3.00% + 0.5% (TP)

All others including Business concerns
BR + 4.00%
BR + 4.00% + 0.5% (TP)

Processing Charges/ Upfront fee
Rs. 275/-+ Service tax & Edu.cess
100% WAIVER UNDER FESTIVAL BONANZA FROM 01.01.2016 TO 31.03.2016

Documentation Charges
Rs. 275/-+ Service tax & Edu.cess
100% WAIVER UNDER FESTIVAL BONANZA UPTO 31.03.2016

Security
Hypothecation of 2 wheeler financed from bank loan

Guarantee acceptable to bank as per guidelines
Repayment (Maximum)
For Scooter and Motorcycle – 60 EMIs
For Scooterrete – 30 EMIs
For Mopeds – 24 EMIs
Maximum Permissible deductions – 40% to 60% of Net monthly salary/ income

Prepayment charges
Nil