PNB Saarthi – Scheme for financing two wheelers to Public

Eligibility

Existing customers of PNB 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 65 years holding a valid driving license. Salaried persons with pension are eligible upto 70 years age.Salaried individuals drawing salary from PNB 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 Salary/Income (NMS/I) of Rs.10,000/- p.m after all dedications including the proposed two wheeler loan installment.

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

a) For super bikes / hybrid two wheeler (Engine capacity 200CC & above) – Maximum Rs. 10 lac (subject to repayment capacity)

b) For all other Two Wheeler Maximum Rs. 1.50 lac (subject to repayment capacity)

Margin

• Where salary is being disbursed through the concerned bank branch and/or Check off facility.10%
• Business concerns 25%

Security

• Hypothecation of two wheeler financed from bank loan
• Guarantee acceptable to bank as per guidelines

Guarantee

Repayment (Maximum)

For Scooter and Motorcycle – 60 EMIs

For Scooterrete – 30 EMIs

For Mopeds – 24 EMIs

Prepayment Charges

Nil

Rate Of Interest

“BANK WILL CHARGE INTEREST ON ALL ADVANCES, UNLESS OTHERWISE SPECIFIED ON THE BASIS OF 365 DAYS PER YEAR”.

Processing Charges/ Upfront Fee

Documentation Charges