Loans & Advances
		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? @12 to 12.50% 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