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Zoom past the traffic on your new two-wheeler. Leave the money woes to us. Saraswat Bank offers loan upto 80% of the cost for two wheelers at a 11.50% rate of interest.

Purpose of Loans:

  1. For purchase of two-wheeler
  2. Electric two-wheeler - Registered with RTO and with motor capacity of 250W and above.

Limits of Loans:

  1. Above Rs 2 lakh to 20 lakh

Eligibility:

  1. Salaried personnel: Employee of reputed organization with confirmed service of minimum one year
  2. Businessman / professional / self employed

Basis of Advance:

  1. Up to 100% finance on Ex-showroom cost of vehicle for loan upto Rs.1 lakh
  2. 80% of the on-road cost of two-wheeler for loan above Rs.1 lakh

1 or 2, whichever is less

Repayment Period:

  1. Maximum 60 months

Rate of Interest : Fixed

Period ROI
Upto 3 yrs 11.50%
>3 yrs to 5 yrs 12.00%

Security:

  1. Hypothecation of two-wheeler
  2. For salaried –repayment through ECS/Standing instructions
  3. One Guarantor

Shareholding:

  1. 2.50% of loan amount, Maximum Rs. 25000/-

Processing FeesA flat discount of 25% on Processing Fees

(No other charges such as CIBIL, FI & CERSAI.)
  1. Upto Rs 10 Lakh - 0.50% of loan amount maximum Rs 3000/-
  2. Above Rs 10 Lakh - 1% of loan amount, max Rs 10000/-
  3. For 2-Wheeler (Electric) -  NIL

Documents Required:

  1. Prescribed application form
  2. Proforma Invoice from approved dealer.
  3. Latest Photograph, Photo Identity Proof & Residence Proof of the Applicant & Guarantor
  4. Salaried personnel:latest salary slips for last 3 months or ITR or form 16 for latest one year
  5. Businessman/professional/ self-employed: last three years profit & loss account and balance sheet.

Conditions Apply*