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PUNJAB NATIONAL BANK TWO WHEELER LOAN

Punjab National Bank, founded in 1984, is one of the leading banks in India to offer a multitude of financial services to the customers which also includes two-wheeler loans. This section brings you a go-to guide to the Punjab National Bank two wheeler loan. Let’s get started.

PNB Two Wheeler Loan

Planning to avail a two wheeler loan for your dream bike? If yes then Punjab National Bank bike loan may be the right choice for you. This facility by PNB comes at affordable interest rates and an easy repayment plan for a tenure of up to 60 months. 

Punjab National Bank is one of the top-rated banks to avail vehicle loans. The bank offers two schemes under the two wheeler loan:

  • PNB Sarthi: This two wheeler loan loan scheme by PNB is designed to avail loan to the existing PNB customer or a new customer for two wheelers such as scooters, bikes, mopeds etc. 

  • PNB Power Ride: PNB Power Ride is another scheme of PNB two wheeler loan that is dedicated to avail loan to women for two wheelers. 

Let us move ahead and dig into the features and benefits of PNB Bank two wheeler loan for these two schemes.

Features and Benefits of PNB Two Wheeler Loan

Here are the important features and benefits of PNB Sarthi two wheeler loan:

  1. No Guarantor: If you are applying for a PNB two wheeler loan of up to Rs 25,000, there will be no need to have a guarantor to avail it. 

  2. No Prepayment Charges: Punjab National Bank two wheeler loan features no foreclosure charges. Thus, you need not pay any charges if you wish to repay the required amount before the tenure and close it. 

  3. Flexible Tenure: If you avail a two wheeler loan from Punjab National Bank, you will get a tenure of up to 60 months to repay the amount. The tenure is determined by the type of vehicle.

  4. Loan Amount: The maximum amount of two wheeler loan you can avail under this scheme is Rs. 60,000.

Here are the important features and benefits of PNB Power Ride two wheeler loan:

  1. Loan for Women: PNB Power Ride scheme of two wheeler designed by the bank is dedicated to provide two wheeler loan to women. 

  2. No Prepayment Charges: The bank will not demand any prepayment charges from you if you repay the full amount before the tenure.

  3. Tenure: PNB two wheeler loan offers you to repay the loan amount within a long tenure. The maximum tenure for two wheeler loan repayment is 36 months. 

  4. Loan Amount : The maximum amount of two wheeler loan you can avail under this scheme is Rs. 60,000.

Fee and Charges of Punjab National Bank Bike Loan

Processing Fee 0.35% of the loan amount (Minimum Rs. 2500 and Maximum Rs. 15000)
Foreclosure charges NIL
Tenure period 1 Year to 5 Year
Loan amount 90% of the on road price of the bike
Upfront fee 275 + service tax + education cess
Documentation fee 275 + service tax + education cess

Eligibility for PNB Two Wheeler Loan

You must fulfil certain requirements in order to avail a two wheeler loan from Punjab National Bank failing which you may not be eligible for it.

Here is the eligibility criteria for PNB Sarthi:

  • Existing customers must have a decent transaction history for the last 6 months. 

  • New customers must have a good transaction history for the last one year.

  • You should have a driving licence.

  • Your age should fall between 18 to 65 years.

  • The age limit for salaried applicants with pension is 75 years.

Here is the eligibility criteria for PNB Power Ride:

  • This loan is women.

  • Students with a co-borrower are eligible to avail this loan.

  • Salaried applicants must be working for at least the last 6 months.

  • Self-employed applicants must have an experience of a year. 

  • Your age should fall between 18 to 65 years.

  • You should have a driving licence.

Documents Required for PNB Two Wheeler Loan

The bank has a set of documents which an applicant needs to submit in order to avail the PNB two wheeler loan. Without these documents, you will not be able to have your application proceeded. 

These are the documents that are required for PNB two wheeler loan:

Address Proof
  • Aadhar Card
  • Driving Licence
  • Voter ID Card
  • Telephone bill
  • Ration Card
  • Rental Agreement
  • Passport
Identity Proof
  • Aadhar Card
  • Password
  • Driving Licence
  • Voter ID Card
Income Proof
  • For salaried Individuals: Payslips of last 3 months.
  • For self-employed Individuals: Form 16 for last one year, ITR for last year

Apart from these documents, the bank can ask you other documents which you will need to submit.

Compare other banks two wheeler loan Interest Rates

BANKS 

INTEREST RATE 

AXIS Bank Super Bike Loan

9.15% to 15.90%

SBI Super Bike Loan 

Start at 10.65%

HDFC Bank Two Wheeler Loan 

Start at 11.83%

HDFC Bank Super Bike Loan

9.65% to 15%

YES Bank Bike Loan 

10% to 18%

ICICI Bank Two Wheeler Loan 

10% to 26%

IDBI Bank Two Wheeler Loan 

Start at 11.83%

Indusind Bank Two Wheeler Loan 

21% to 29%

Bank of Baroda Two Wheeler Loan 

Start at 11.50%

Bank of India Two Wheeler Loan 

7.75% to 8.35%

Punjab National Bank Two Wheeler Loan

Start at 10.70%

Other products of Punjab National Bank 

1. Punjab National Bank Car Loan

2. Punjab National Bank Home Loan

3. Punjab National Bank Personal loan 

4. Punjab National Bank Gold Loan

How to Apply for Punjab National Bank Two Wheeler Loan

There are two ways to apply for Punjab National Bank Two Wheeler Loan :

1. Offline Method : By visiting the nearest bank branch 

2. Online Method 

  • Firstly visit lenders website or branch from which you want to get loan

  • Fill the application form and read all the term and conditions

  • Attach all required documents with an application form

  • After submitting form lenders will let you know that you eligible or not for the loan

Punjab National Bank Two Wheeler Loan Customer Care

Contact number : 18001802222 / 18001032222

Email id : care@pnb.co.in

How to calculate EMI of Punjab National Bank Two Wheeler Loan

The mathematical formula is used to calculating EMI of Punjab National Bank Two Wheeler Loan

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Where,

  • P stands for the loan amount or principal, 
  • R is the interest rate per month and 
  • N is the number of monthly installments.

Financials products offered by Bank

BUSINESS LOAN

CAR LOAN

COMMERCIAL LOAN 

EDUCATION LOAN

GOLD LOAN

HOLIDAY LOAN 

HOME LOAN 

LOAN AGAINST PROPERTIES 

LOAN AGAINST SECURITIES

PERSONAL LOAN

PROFESSIONAL LOAN

TWO WHEELER LOAN

FAQs

1. Can an 18 years old student apply for PNB two wheeler loan?

Yes. Even if you are a student, you can avail a PNB two wheeler loan. However, you need to have a salaried parent as a co-borrower and a valid driving license.

2. What is the tenure period for repayment of PNB two wheeler loan?

The tenure period for repayment of PNB two wheeler loans ranges from 1 year to 5 years. 

3. Do I have to pay any prepayment charges?

No. You don’t need to pay any prepayment/foreclosure charges in order to repay the required amount before tenure.

Last Updated on : 24/Feb/2021

Know More About

Punjab National Bank Two Wheeler Loan

You're eligible for a Punjab National Bank Two Wheeler Loan if you:


Are legally adult enough to handle it


Have still got it


Get a regular pay check


Make more than a basic buck

Your eligibility depends on:


Earn more than minimum income required


Maximum allowed Two Wheeler Loans is Rs. 10K to Rs. 45 lakhs


EMIs of other loans loweryour eligibility

Boost your eligibility by:


Pay off your credit card bills


Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Punjab National Bank Two Wheeler Loan Interest Rates

Updated on 25 Nov 2017

Punjab National Bank Two Wheeler Loan Details
Interest Rate (Monthly reducing balance) 10.7% - 0%
Processing Fees 0.35% of the loan amount (Minimum Rs.2500 and Maximum Rs.15000)
Loan Tenure 1 year to 5 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Two Wheeler Loans EMI Calculator

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

|
1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959