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Punjab National Bank Two Wheeler Loan

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Two Wheeler Loan
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  • Attractive interest rates
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Punjab National Bank Two wheeler Loan:

Punjab National Bank, with over the 120 years in existence and a network of 6564 branch offices (including a few outside of India) is serving more than 9 crore customers today. Over the years, there has been tremendous growth thanks to the hardworking staff and the continued support of the customers. PNB is one of the largest Nationalized Banks and boasts of an array of financial products and services including loan.

Among the many other loans that PNB offers, the Two Wheeler Loan is one of the most popular among customers because of the competitive rates and flexible terms of the loan.

Also Read: Two Wheeler Insurance.

PNB Bike Loan Eligibility Criteria:

  • You must be earning a minimum of Rs. 10,000/- p.m.
  • To be eligible for a two wheeler loan from PNB, you must be a salaried individual who draws salary from the bank or is under check off facility from your employer.
  • Must be in the age bracket of 18 to 60 years.
  • Must have a valid driving license.
  • Must either be a customer of PNB for at least the last six months with adequate transactional record or a customer of any bank with adequate transactional record for at least one year.
  • If you are a student applying for the loan, you must be above 18 years and an earning parent must become your co-borrower. The income proof of the parent will be considered.
  • If you are married to a salaried spouse, his/her income can be considered for deciding the income criteria, as long as you provide satisfactory proof of income.
  • Business concerns (Corporate or noncorporate). For the income of the business verification, your Income Tax Returns filed and challans for Tax Deposited will be considered.

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Punjab National Bank Two Wheeler Loan Interest Rate:

  • The interest rate if the concerned branch is disbursing the salary and/or under check-off facility will be BR+3.00% for less than 3 years and BR+3.00%+TP if 3 years and above.
  • For other including Business concern, the interest rate for less than 3 years is BR+4.00% and BR+4.00%+TP for 3 years & above.

PNB 2 Wheeler Loan Features & Benefits:

  • The maximum period you can take for full repayment:
    Type of two wheeler EMIs
    Scooter and Motorcycle 60
    Scooterrete 30
    Mopeds 24
  • The maximum deductions that is permissible is between 40% and 60% of Net monthly salary/ income

  • The Quantum of Finance that you can receive with the PNB two wheeler loan is based on your need.
  • Security: Hypothecation of the vehicle that you are borrowing money to purchase.
  • Margin:
    Check off facility and/or where salary is being disbursed through the concerned bank branch 10%
    Business concerns 25%
  • No prepayment charges: You will not be charged if you decide to repay the borrowed amount earlier than the time agreed upon.

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PNB Two Wheeler Loan Fees and Charges:

Fee description Amount
Upfront fee/ Processing Charges Rs. 275/-+ Service tax & Edu.cessThis fee will be completely waived off during the FESTIVAL BONANZA between 01/09/2015 and 31/12/2015
Documentation Charges Rs. 275/-+ Service tax & Edu.cessThis fee will be completely waived off during the FESTIVAL BONANZA between 01/09/2015 and 31/12/2015

PNB Two Wheeler Loan FAQs:

  1. I am a 19 year old student. Am I eligible to apply for a two wheeler loan at PNB?

    Yes, you are eligible to apply for a loan even if you are a student and have no income. However you will need a salaried parent who draws salary from the bank as co-borrower. Also, you will need a valid driver's license.

  2. In case I come across some extra money, will I be able to repay the amount before the full term? Will I be charged for doing so?

    Yes you can repay the amount before the time that has been agreed upon. You will not be charged extra for doing so.

  3. What is the maximum percent of my salary that I can use to repay the borrowed amount per month?

    The maximum permissible deduction per month is 40% to 60% of your salary.

  4. How much can I borrow with the two wheeler loan?

    You can borrow as much as you require for the vehicle.

  5. Do I need to give any asset as security to take out this loan?

    No. The two wheeler itself is hypothecated for the loan.

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Customer Reviews

Page 1 of 1
  • Punjab National Bank Two Wheeler Loan
    "Best Service"
    0.5 5.0/5 "Blown Away!"
    My experience with PNB for two wheeler loan was good, the loan amount was sufficient and the rate of interest was nominal when compared to others. Customer service was good and they responded on time. Tenure period for this loan is for 2 years.
    Was this review helpful? 7
    , new delhi
    Reviewed on Jan 26, 2019
  • Punjab National Bank
    Punjab National Bank Two Wheeler Loan
    0.5 4.0/5 "Great!"
    I have taken my bike loan with PUNJAB NATIONAL BANK , customer support and their response is good with this bank . Rate of interest is is 11% and it is too high compare to other and tenure period is 36 month . They charge 1500 of processing fee and it is nominal .
    Was this review helpful? 7
    , hyderabad
    Reviewed on Sep 18, 2018
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