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.