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Two Wheeler Loan
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Two Wheeler Loan

Title

                                      Norms

Purpose

  • For purchase of two wheeler

Eligibility

  • Salaried persons: Employee of reputed organization with confirmed service of minimum 1 year.
  • Businessmen/professional/self employed.

Limit of Loan

  • Maximum up to Rs.20.00 lakh

Basis of Advance

  1. 80% of on-road cost of two wheeler
  2. 20 times of the net take home salary / 3 times Avg Net cash accruals
    1 or 2, whichever is lower

Repayment Period

  • Maximum 60 months

Rate of Interest

  • Fixed @ 12.00 % p.a Daily Reducing.

Processing Fee

  • 0.5% of loan amount

Shareholding

  • 2.50% of loan amount, Maximum  Rs. 25000/-

Security

  • Hypothecation of two wheeler
  • One Guarantor

Documentation

  1. Duly filled prescribed application form
  2. Proforma Invoice from approved dealer.
  3. Latest Photograph, Photo Identity & Residence Proof of the Applicant &  Guarantor
  4. Income proof a) or b) as applicable
    a)Salaried person : Latest salary slips for last 3 months or ITR or Form 16 for latest 1 year.
    b) Businessman/Professional/self employed: last 3 years profit & loss account and balance sheet. 
Conditions apply
467371775086e094fb7a843004cb7999 savings account, loans, SME loans, NRI banking services, Forex, car loan, home loan, co-operative bank, trade finance
Saraswat-Bank
Saraswat-Bank