Two Wheelers / Motorcycle Loan to Farmers

SCHEME FOR FINANCING TWO WHEELERS TO PUBLIC SUPGB SAARTHI

 

Purpose

For purchase of new Two wheelers viz.: Scooter(s), Motor cycle(s), Scooterrete (s), Moped(s), (subject to Registration of vehicle with RTO).

Eligibility

Existing SUPGB customers with at least 6 months satisfactory transactional record OR new customer with satisfactory track record of last one year with other Bank/FI in the age group of 18 years and 60 years holding a valid driving licence.

Salaried individuals drawing salary from our bank or under check off facility from the employer.

Students, 18 years and above till gainfully employed, with salaried parent as co-borrower drawing salary from our bank; Business concerns (Corporate or non –corporate)

Income Criteria

Minimum Net Monthly Income of Rs.10,000/- p.m.

In case of students, Income/salary proof of parent/guardian who will be co-borrower be considered.

Income of spouse can be taken into consideration for determining the income criteria provided satisfactory proof of income is produced.

Income of business concerns be verified from Income Tax Returns filed and challans for Tax Deposited.

Quantum Of Finance

Max Rs.1.0 lac. Above Rs.1.0 lac by RM.

Margin

Where salary is being disbursed through the concerned bank branch and/or Check off facility.

10%

Business concerns

25%

Security

Hypothecation of 2 wheeler financed from bank loan

Guarantee acceptable to bank as per guidelines

Repayment (Maximum)

For Scooter and Motorcycle – 60 EMIs

For Scooterrete – 30 EMIs

For Mopeds – 24 EMIs

Prepayment Charges

Nil

Rate Of Interest

12.60%-14.10% (Terms and Conditions follows)

Processing Charges/ Upfront Fee

Rs.275/-

Documentation Charges

Rs.275/-

Above are only salient features of the scheme. For details please contact nearest branch