Punjab National Bank, with over the 120 years in presence and a system of 6564 branch workplaces (counting a couple of outside of India) is serving more than 9 crore clients today. Throughout the years, there has been enormous development on account of the dedicated staff and the proceeded with help of the clients. PNB is one of the biggest Nationalized Banks and gloats of a variety of budgetary items and administrations including advance.

Pnb Saarthi - Scheme For Financing Two Wheelers to Public

Purpose

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

Qualification

Existing PNB clients with no less than a half year acceptable value-based record OR new client with palatable reputation of most recent one year with other Bank/FI in the age gathering of 18 years and 60 years holding a legitimate driving permit.

Salaried people drawing compensation from our bank or under verify office from the business.

Understudies, 18 years or more till productively utilized, with salaried parent as co-borrower drawing pay from our bank; Business concerns (Corporate or non – corporate)

Income Criteria

Least Net Monthly Income of Rs.10,000/ - p.m.

If there should arise an occurrence of understudies, Income/compensation confirmation of parent/gatekeeper will's identity co-borrower be considered.

Income of mate can be contemplated for deciding the pay criteria gave palatable verification of salary is created.

Income of business concerns be confirmed from Income Tax Returns documented and challans for Tax Deposited.

Quantum of Finance

Need based

Margin

Where pay is being dispensed through the concerned bank office as well as Check off facility.
10%

Business concerns
25%

Security

Hypothecation of 2 wheeler financed from bank advance

Assurance worthy to bank according to rules

Reimbursement (Maximum)

For Scooter and Motorcycle – 60 EMIs

For Scooterrete – 30 EMIs

For Mopeds – 24 EMIs

Maximum Permissible findings – 40% to 60% of Net month to month compensation/salary

Interest Rate - Two wheeler

Salary being disbursed through PNB and /or under check-off facility.

< 3 years
MCLR+3.25%

>= 3 years
MCLR+3.75%

Others including business concern

< 3years
MCLR+4.25%

>= 3 years
MCLR+4.75%

Power Ride

MCLR+1.75%

Two Wheeler Loan Application Form