| Purpose |
- To purchase new two wheeler viz.: Scooter(s), Motor cycle(s) & Scooterrete
|
| Eligibility |
- Gross monthly income (Self employed/Business/Salaried & Other income) of borrower along with that of spouse/other family members should be at least double of monthly installment of the loan
|
| Limit |
- For individuals: 30 times of Net Monthly income or loan amount whichever is lower
- For business concerns: Need Based
|
| Margin |
- Natural Person (for personal purpose)- not less than 50% of purchase price of vehicle(subject to NRB stipulation)
|
| Nature |
|
| Interest rate |
- Competitive rate (subject to change)
|
| Repayment |
|
| Security |
- Registration of bike in favor of bank
- Guarantee of spouse/other family member or 3rd party guarantee acceptable to the Bank.
|
| Insurance |
- Comprehensive policy with third party insurance as per Banks’ clause
|
| Bank has tie up arrangement with different companies for financing of bikes. |
