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‘PNB SAARTHI’ - SCHEME FOR FINANCING TWO WHEELERS TO PUBLIC

‘PNB SAARTHI’ - SCHEME FOR FINANCING TWO WHEELERS TO PUBLIC
Purpose

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

Eligibility
  • Existing PNB customers with at least 6 months satisfactory transactional record OR new customer with satisfactory track record of last one year with other Bank/FI in the age group of 18 years and 60 years holding a valid driving licence.
  • Salaried individuals drawing salary from our bank or under check off facility from the employer.
  • Students, 18 years and above till gainfully employed, with salaried parent as co-borrower drawing salary from our bank;
  • Business concerns (Corporate or non –corporate)
  
Income Criteria
  • Minimum Net Monthly Income of Rs.10,000/- p.m.
  • In case of students, Income/salary proof of parent/guardian who will be co-borrower be considered.
  • Income of spouse can be taken into consideration for determining the income criteria provided satisfactory proof of income is produced.
  • Income of business concerns be verified from Income Tax Returns filed and challans for Tax Deposited. 
Quantum of Finance

Need based

Margin

Where salary is being disbursed through the concerned bank branch and/or Check off facility.

10%

Business concerns

25%

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

 

Above are only salient features of the scheme. For details please contact nearest branch

Click Here to view rate of interest

Online application facility : Click Here

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