Punjab National Bank Two Wheeler Loan: Interest Rate, Eligibility, Processing & Customer Care

Apply Now

PUNJAB NATIONAL BANK TWO WHEELER LOAN

Punjab National Bank Two Wheeler Loan Details 

Punjab National Bank is a banking and financial service bank owned by the government of India with its headquarters is in New Delhi, India. The bank was founded in 1894 and is the second largest public sector bank in India, both in terms of business and its network.

Punjab National Bank (PNB) is one of the top banks in India. The bank provides a vast array of financial products to the customers. One of them is a two wheeler loan. Nowadays everyone wants a vehicle in a house. Two wheelers are the most common and important for high, low, and middle-class peoples. Most people recommend two-wheelers rather than cars. Now, most of the work is only possible with two wheelers. Not only do most people buy bikes, scooters, and two wheelers for their desire and fun. As all the young generation is strictly addicted towards high speed bikes and fancy looking motorbikes or you can say sports bikes. Among the total percentage, 70% of the population have two wheelers. Now the question arises here: hope everyone gets the two wheelers that easy, are they cheap in rates? The answer is simple there are many lenders who provide two wheelers loans so that everyone can buy it. The purpose of Punjab National Bank is to purchase new Two wheelers viz.: Scooter(s), Motorcycle(s), Scooterette (s), Moped(s), (subject to Registration of vehicle with RTO).

Benefits of Punjab National Bank Two Wheeler Loan

1. Easy documentation

2. Low processing fee

3. Attractive Interest rate start at 10.70% per annum

4. Must have a valid driving license

5. Repayment tenure upto 5 years

6. 90% finance of the on road price of the bike

7. To must be earning a minimum Rs.10000 per month

Fee and Charges of Punjab National Bank Two Wheeler Loan

To apply for a two wheeler loan, you have to pay fees and charges applied by the Punjab National Bank. It covers all charges and fees made by a bank to their customers.The following charges are taken from Punjab National Bank i.e processing fee, prepayment / foreclosure charges etc.

1. Processing fee =  0.35% of the loan amount (Minimum Rs.2500 and Maximum Rs.15000)

2. Foreclosure charges = NIL

3. Tenure period = 1 year to 5 years

4. Loan amount = 90% of the on road price of the bike

5. Upfront fee = 275 + service tax + education cess

6. Documentation fee = 275 + service tax + education cess

Eligibility Criteria for Punjab National Bank Two Wheeler Loan

Before applying for a loan for two wheeler from Punjab National Bank, you should fulfil all basic eligibility criteria as prescribed by the bank. You will get your loan amount very soon if you meet all the required eligibility criteria once the documentation is done.

1. Individuals in service with minimum net monthly salary of Rs. 10000/-

2. Students, aged 18 years and above, with salaried parent as co-borrower;

3. Business concerns (Corporate or non-corporate).

4. Income of spouse can be added.

Documents Required for Punjab National Bank Two Wheeler Loan

Any applicant who is going to avail a loan for two wheeler from Punjab National Bank must have to submit the following documents. These documents are the requirements for the lenders who are providing you the amount of loan.

  1. Filled application form

  2. Proforma Invoice

  3. Passport size photograph

  4. Identity Proof 

  • For salaried individuals = PAN card, voter’s ID, passport, Driving license

  • For self employed individuals = PAN card, voter’s ID, passport, driving license

  1. Address Proof

  • For salaried individuals = Utility bills, passport, etc.

  • For self employed individuals = Utility bills, passport, etc.

  1. Income Proof

  • For salaried individuals = Salary slips, IT returns, bank statements

  • For self employed individuals = Bank statements, IT returns, audited financial statements

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

Punjab National Bank Two Wheeler Loan Frequently Asked Questions

1. How much age of the customer is required to take a two wheeler loan from Punjab National Bank?

The minimum age is 18 years and the maximum age is 70 years to take a two wheeler loan from Punjab National Bank.

2. What is the loan amount of Punjab National Bankfor two wheeler loan?

The loan amount is 90% finance of the on road price of the bike of Punjab National Bank for two wheeler loan.

3. How to apply for a Punjab National Bank two wheeler loan?

You can apply offline by visiting the nearest bank branch or online for a Punjab National Bank two wheeler loan.

4. Is there any prepayment and foreclosure charges of Punjab National Bank for two wheeler loan?

No prepayment charges and foreclosure charges of Punjab National Bank for two wheeler loan.

5. What is the tenure period of Punjab National Bank for two wheeler loan?

The tenure period of Punjab National Bank for two wheeler loan is 1 years to 5 years.

6. How much interest rate is charged by the Punjab National Bank for a two wheeler loan?

The interest rate of Punjab National Bank for two wheeler loan is ranging from 10.70% per annum.

Last Updated on : 01/Sep/2020

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