Two Wheeler Loan

Loan for purchasing Two-wheelers
Who can Apply A confirmed employee of Govt / MNC / PSU / Corporation / Autonomous body /reputed organization or a professional & self-employed person or a businessman
What should be the purpose? Purchasing brand new two wheeler for personal use
What is the minimum income criteria? Rs.10000.00 p.m.
What is the age criteria? Minimum age : 21 years
Maximum age : 55 years
How much loan can be granted ? Upto 90% of the Dealer price
What is rate of interest? @13% p.a. with monthly rest on reducing balance
What will be the share linkage 1 % of loan sanctioned
What will be the repayment period? From 36EMIS to 60 EMIs through PDCs/ECS
What will be the securities? Hypothecation of the two-wheeler
What about guarantors? Two guarantors acceptable to Bank
How to apply?
  • Application in prescribed format
  • Address proof : Passport /telephone/electricity bill, Ration card/ Voter identity card etc
  • Identity proof : Passport/voter identity card/ PAN card telephone/electricity bill etc.
  • Income proof : Salary certificate of last 3 months, Form-16, IT Return copy. Audited Profit& Loss account, Balance- sheet of last 3 years, IT Return copy
  • Consent letter & financial papers of guarantors
  • Pro-forma invoice from dealer
  • Document for collateral security
  • What about insurance? The two wheeler shall be fully insured with Bank clause
    How disbursement will be made? By way of disbursement through Account Payee Pay Order in favour of the dealer

    National Co-operative Bank