PNB Power Ride – Scheme for financing two wheelers to Women

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

• Proof of Income
• 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.
• Latest 3 salary slips along with Form 16/ ITR of previous year in the case of salaried borrower(s);
• 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)

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