Punjab National Bank

PNB Power Ride - Scheme For Financing two wheelers to women

`PNB POWER RIDE` - SCHEME FOR FINANCING TWO WHEELERS TO WOMEN
Purpose	For purchase of new Two wheelers viz.: Scooter(s), Motor cycle(s), Moped(s), (subject to Registration of vehicle with RTO).
Eligibility	Salaried with minimum 6 months service Self employed with experience of more than one year Student with their parents/guardian as co-borrowers Note: Individuals should be in the age group of 18 years to 65 years and should hold valid driving license. In case of students age of parents/ guardian is to be considered and in that case driving license may be in the name of Student/ Parents/ Guardian.
Income Criteria	Minimum Net Monthly Income of Rs. 8,000/- p.m. In case of students, Income/salary proof of parent/ guardian who will be co-borrower be considered. Proof of Income : i) Latest 3 salary slips along with Form 16/ ITR of previous year in the case of salaried borrower(s); ii) ITR of previous year in the case of self employed individuals
Quantum of Finance	Need based Max Rs 60000.00
Margin	10% of ex-showroom price
Security	Hypothecation of 2 wheeler financed from bank loan Guarantee acceptable to bank as per guidelines
Repayment (Maximum)	Max 36 months Maximum Permissible deductions – 50% of Net monthly salary/ income
Prepayment charges	Nil
Rate of Interest	Click Here
Processing Charges/ Upfront fee	Click Here
Documentation Charges	Click Here

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

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