| 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 |