Punjab National Bank Two-wheeler loans
The Punjab National Bank is known for offering Two-wheeler loan schemes, one is PNB Saarthi, and the other is PNB Power Ride. It is available at an attractive interest rate starting @ 8.70% per annum with a repayment tenure of up to 60 months.
Features and Benefits
PNB Saarthi
- The loan availed under this scheme is up to Rs 25000. It can be availed without guarantee.
- There are no prepayment charges
- The maximum loan amount one can avail of under this scheme is Rs 10 Lakh.
- Based on the vehicle type purchased, the maximum repayment tenure is 60 months.
PNB Power Ride
- Under the scheme, two-wheeler loans are provided for women.
- The maximum loan amount one can apply for a two-wheeler under this scheme is Rs.60,000.
- The maximum repayment tenure is 36 months.
- No prepayment charges are levied.
PNB Saarthi
- The existing customers must be having a good repayment history and transactional records of at least 6 months.
- If you are a new customer, then have a good transactional record and repayment history of at least one year.
- The minimum age to apply for a Punjab National Bank Two-wheeler loan is 18 years and the maximum is 65 years. The age limit is 70 years for salaried individuals with a pension.
- Must be having a valid KYC document.
PNB Power Ride
- The bike loan is provided to women.
- Salary individuals must be working for at least 6 months.
- Self-employed individuals must have experience for more than a year.
- The minimum age to apply for a Punjab National Bank Two-wheeler loan is 18 years and the maximum is 65 years. The age limit is 70 years for salaried individuals with a pension.
- Students can avail of the loan with a co-borrower (guardian/parents).
Tenure
For Scooter and Motorcycle – 60 EMIs
For Scooterrete – 30 EMIs
For Mopeds – 24 EMIs
Maximum Permissible deductions – 40% to 60% of Net monthly salary/ income
Documents required to apply for two-wheeler loans
Address proof
- Voter ID
- Passport
- Aadhaar Card
- Ration Card
- Rental Agreement
- Driving License
Identity Proof
- Driving License
- Aadhaar Card
- Passport
- Latest payslips (last 3 months)
- Voter ID
Income Proof
- Form 16 for the previous year in the case of salaried employees
- Income Tax Returns for the previous year in the case of self-employed individuals
How to apply for a PNB Two-wheeler loan
- You can visit Punjab national bank official website to download the application for Two-wheeler loans.
- The filled application form along with the relevant documents must be submitted at the nearest Punjab National Bank to avail of the loan.
- You can also visit the nearest Punjab National Bank to get the application form and apply for the loan.