Punjab National Bank Two Wheeler Loan

Punjab National Bank offers two-wheeler loans at attractive interest rates with a repayment tenure of up to 60 months.

Bike loans are provided for mopeds, scooters, and motorcycles.

The two different two-wheeler loans offered by the bank are PNB Saarthi and PNB Power Ride.

Punjab National Bank Two-Wheeler Loan Interest Rates

How to Apply for the Punjab National Bank Bike Loan?

You can visit punjab national bank official website to download the application form. The filled application form along with the relevant documents must be submitted at the nearest Punjab National Bank to avail the loan. You can also visit the nearest Punjab National Bank to get the application form and apply for the loan.

Punjab National Bank Two-Wheeler Loan EMI Calculator

In case you plan on availing a bike loan, you can use the two-wheeler loan EMI calculator offered by BankBazaar to know the monthly payments. The calculator is simple to use and the results are displayed immediately. Accurate results are provided for the information that is given.

Punjab National Bank Two-Wheeler Loan Eligibility

PNB Saarthi

• Existing customers must have a good transactional record for at least 6 months.
• New customers must have a good transactional record for at least one year.
• You must be between the ages of 18 years and 65 years to avail the loan.
• The age limit is 70 years for salaried individuals with a pension.
• You must have a driving license.
• Your net monthly income must be at least Rs.10,000.

PNB Power Ride

• The bike loan is provided to women.
• Salary individuals must be working for at least 6 months.
• Self-employed individuals must have experience for more than a year.
• Students can avail the loan with a co-borrower (guardian/parents).
• You must be between the ages of 18 years and 65 years to avail the loan
• You must have a driving license.
• Your net monthly income must be at least Rs.8,000.

Documents Required

Address proof

• Aadhaar Card
• Driving License
• Voter ID
• Passport
• Ration Card
• Telephone Bill
• Rental Agreement

Identity Proof

• Aadhaar Card
• Driving License
• Voter ID
• Passport

Income Proof

• Latest payslips (last 3 months)
• Form 16 for the previous year in the case of salaried employees
• Income Tax Returns for the previous year in the case of self-employed individuals

Any other documents that have been requested by the bank must be provided as well.

Features and Benefits

PNB Saarthi

The main features and benefits of the PNB Saarthi scheme are mentioned below:

• Your net monthly income must be at least Rs.10,000.
• For loans up to Rs.25,000, no guarantee will need to be provided.
• No prepayment charges are levied.
• Depending on the vehicle, you can avail a loan of up to Rs.10 lakh.
• Depending on the vehicle type, the maximum repayment tenure is 60 months.

PNB Power Ride

The main features and benefits of the PNB Power Ride scheme are mentioned below:

• Under the scheme, two-wheeler loans are provided for women.
• The net monthly income must be at least Rs.8,000.
• The maximum loan amount that will be provided is Rs.60,000.
• The maximum repayment tenure is 36 months.
• No prepayment charges are levied.

FAQs on Punjab National Bank Two Wheeler Loan

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.