We know that Punjab national bank is in existence from the last 120 years. It has more than 6500 branches located in India, and some are located in other countries. It is hard to believe, but this bank is serving more than nine crore customers in India. It is currently one of the best financial companies in India, and they are providing many more financial aspects to the customers like housing loan, car loan and two-wheeler loan. Check PNB Two Wheeler Loan Interest Rates below.
Punjab national bank two-wheeler loan is the next approach to average class people so that they can have their dream bike on easy monthly instalments at lower interest rates. However, the same, we will be talking in this post. Let’s have a look at the eligibility criteria first.
You should know about the eligibility criteria before applying for Two-Wheeler loan from Punjab national bank. If you do think you are eligible and comes under the mentioned criteria below, then you can apply for a bike loan from PNB.
- Your salary should be more than Rs 10000 P/M.
- Your age must be between 18 to 60 Years.
- You must carry a valid driving license.
- You should have better bank transactions record either in PNB or any other bank.
- You should have your income proof.
PNB Two Wheeler Loan Interest Rates:
The interest rate of PNB bike loan is something near about 10-12%. There are no hidden or prepayment charges. However, you need to pay the processing fees & documentation charges which is something near about 550 Rs+Taxes.
You can lesser your EMI’s by choosing the longer tenure, and the maximum tenure you can select is 60 months.
Also, Read : SBI Gold Loan Interest Rates and Schemes
Frequently Asked Questions:
There are some frequently asked questions from the customers. It is hard for us to reply to the same queries again and again. So, we included some of the repeatedly asked questions here.
- I am 19 years old. Am I eligible for getting PNB bike loan approved?
- Are there any charges for pre-closure of the loan tenure?
- What is the maximum per cent of my salary I can use to repay the borrowed amount?
- What is the maximum amount I can borrow from the bank?
- Do I need to give any asset as a security for getting my loan approved?
#1 I am 19 years old. Am I eligible for getting PNB bike loan approved?
Yes, you are eligible if you are a student. However, still there is a need of your parents to take guarantee, and they should have the record of their past three months salary.
#2 Are there any charges for pre-closure of the loan tenure?
No, there are no charges for pre-closure of the loan amount. You can close your loan from the bank anytime during the tenure.
#3 What is the maximum per cent of my salary I can use to repay the borrowed amount?
You can pay up to 60% from the current salary to clear off the borrowed amount.
#4 What is the maximum amount I can borrow from the bank?
It depends upon the bike amount and how much bank finances you.
#5 Do I need to give any asset as a security for getting my loan approved?
No, you don’t need to provide any asset to the bank for getting your two-wheeler loan approved from the Punjab national bank.
There is a need for a two-wheeler in every home. However, not everyone has the right amount of cash to buy at ease. Therefore, the banks offer two-wheeler loan to the customers for their convenience. Punjab national bank is one of those banks which offers two-wheeler loans at lower interest rates to the customers. In this post, we have added all the required details you need to know about PNB Two-wheeler loan.
Krishna Murthy is the senior publisher at Finance XOD. He is not only the senior publisher but also the owner of Tricky Finance. Krishna Murthy was one of the brilliant students during his college days. He completed his education in MBA (Master of Business Administration), and he is currently managing the all workload for sharing the best banking information over the internet. The main purpose of starting Tricky Finance is to provide all the precious information related to businesses and the banks to his readers.