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 in present organization, Self-employed with experience of more than one year (Based upon declaration/bank account/ITR etc.)
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 Salary/Income (GMS/I) of Rs.8,000/- p.m including the proposed two wheeler loan installment.
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 – All deductions including the proposed Two-wheeler loan installment should not exceed 50% of Gross Monthly Salary/ Income (GMS/ I)
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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