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PNB Two wheeler Loan Interest Rate

Current PNB Two wheeler Loan Interest Rates India Apr 2021

Last Updated 12th Apr 2021

Interest Rates 9.55%
Maximum Loan Amount Eligibility 90% of On Road Price
Maximum Loan Tenure 5 years
Lowest EMI per ₹ Ten Thousand Loan Amount ₹ 210
Processing Fee Min ₹ 275
Prepayment Charges Nil charges
Interest Calculation EMI on a monthly reducing balance
Age Between 18 years and 60 years
Apply for Two Wheeler Loan @ 11.60%*

PNB Two wheeler Loan

PNB Bike Loan Interest Rates

PNB bike loan Interest rate calculator works on various inputs like:

  • Salary - Higher salary bracket individuals are offered loans at lower interest rates. PNB auto loan rate varies with your net monthly income.
  • Employer category – Employer category of the borrower is a major deciding factor in order to determine his/her rate of interest. PNB has a list of company categories of salaried individuals to which they avail two wheeler loans. So, higher company category leads to low rate of interest.
  • Type of two wheeler - PNB interest rate depends upon the type of bike you want to buy. If you have applied loan for a high value two wheeler, then the bank offer low interest rate on your two wheeler.
  • Relationship with the Bank – PNB offers special rates, offers and charges to the salary account holders of the bank. Those who have managed their accounts low PNB 2 wheeler interest rate.

PNB Two wheeler Loan Eligibility

Eligibility of 2 wheeler loan in PNB relies upon different factors but the most important factor is your ability to repay the loan. Two wheeler loan calculator calculates eligibility of an applicant depending upon various factors like

  • Age: Age plays an important role to know your eligibility and repayment capacity. PNB offers two wheeler loan to individuals who are atleast 18 years old at the time of loan approval and maximum 60 years at the time of loan maturity.
  • Income: PNB bike loan calculator calculates your eligibility based upon your income. Usually bank set minimum levels of income to apply for two wheeler loan. PNB asks for net monthly income of ₹ 10,000 from salaried professionals.
  • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your two wheeler loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your two wheeler loan eligibility.

PNB Two wheeler Loan EMI

Two wheeler Loan EMI of PNB is a fixed amount that you pay each month towards the repayment of your bike loan till the end of tenure. Lowest EMI offered by PNB is ₹ 210 per ten thousand loan amount at lowest two wheeler loan interest rate of 9.55%. PNB bike loan EMI calculator depends on factors like:

  • Auto Loan PNB interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as longer tenure reduces your monthly EMI per lakh
  • Your EMI depends upon the amount of loan you are going to borrow. Loan EMI will be high if you apply for a high loan amount
  • Two wheeler loan EMI calculation varies from bank to bank depending upon the method of calculation

PNB 2 Wheeler Loan Apply

PNB gives the facility of bike loan to the people who want to fulfil their dream of having their own 2 wheeler. There are some features and benefits of taking auto loan from PNB:

  • Easy documentation
  • Low processing fee
  • Attractive interest rates

Documents Required for PNB 2 wheeler Loan

Two wheeler loan PNB documents for salaried employees

  • Signed loan application form
  • Photographs
  • Income Tax PAN Copy
  • Identity Proof – Driving License/ PAN/ Passport/ Voter ID
  • Address Proof - Registered Rent Agreement/ Passport/ Leave and License/ Utility Bill
  • Income Documents – Form 16, last 3 months pay slip, bank statement of 3 months showing salary credit and any EMI debit

Two wheeler loan PNB documents for Self-Employed

  • Signed loan application form
  • Photographs
  • Income Tax PAN Copy
  • Identity Proof - Driving License/ PAN/ Passport/ Voter ID
  • Address Proof - Registered Rent Agreement/ Passport/ Leave and License/ Utility Bill
  • Income Documents – Last 2 years ITR
  • Business existence proof such as VAT/ service tax registration, business address proof, incorporation details in case of companies

FAQs

How much interest is charged by PNB on two wheeler loan?

PNB bike loan interest rates today are 9.55% to 0.00%.

What is the lowest EMI for ten thousand amount on PNB two wheeler loan?

If you apply for a 2 wheeler loan from PNB, your lowest EMI for ten thousand amount will be ₹ 210.

What is the maximum tenure of PNB bike loan?

You can repay your bike loan from PNB in a flexible period of maximum 5 years.

How much auto loan I can borrow from PNB?

PNB offers you 90% of On Road Price of two wheeler as loan.

How much processing fee is charged by PNB on bike loan?

PNB charge a processing fee of Min ₹ 275 with applicable service tax.

Is age an eligibility factor to get two wheeler loan from PNB?

Yes, age is an important eligibility factor to get PNB two wheeler loan as you should be at least 18 years old at loan approval time and 60 years old at loan maturity time.

Are there any prepayment charges on PNB two wheeler loan?

You can foreclose your two wheeler loan from PNB with Nil charges.


PNB Two Wheeler Loan News - Apr 2021
  • 2021-02-08 : PNB reported net profit of 506 crores
    PNB posted an 18.5% year-on-year decline in its net profit to Rs 506 crore for the quarter ended December. Further, the bank reported net interest income on the back of retail loans like home, personal, car, two-wheeler and gold loans along with business and mudra loans at Rs 8,313 crore.
  • 2020-12-29 : PNB completes IT integration of all branches of two merged entities
    Punjab National Bank clarified that the customers of the former OBC Bank are now migrated to CBS of PNB wherein they can transact seamlessly via existing branches and digital banking channels like internet banking and mobile banking. The amalgamation of PNB, United Bank of India and OBC has come into effect from April 1, this year. The merger created the second-largest nationalized bank in terms of business and total branches.
  • 2020-12-02 : PNB launched loan management solution to speed up delivery
    Punjab National Bank launched a tech-based loan management solution called LenS-The Lending Solution. It is aimed at speeding up and maintaining accuracy in online loan processing and sanctioning of credit proposals. It will be implemented in a phased manner for all kinds of loans including MSME, agriculture, retail and other credit.
  • 2020-11-03 : PNB reported an 18% decline in Q2 net profit
    PNB posted a 22% increase in net profit to Rs 621 crore in the second quarter against Rs 507 crore in the year-ago period. Bank net interest income rose to Rs 8,393 crore and the bank’s net interest margin improved to 3.21% for the quarter ended September. Further, PNB’s total income backed by retail loans like home, personal, gold, two-wheeler and car loans along with mudra and business loans stood at Rs 23,439.
  • 2020-08-25 : PNB to offer one-time loan restructuring option
    Punjab National Bank is planning to provide a one-time loan restructuring window to corporate and retail loans like home, personal, gold, two-wheeler, car, along with business and mudra loans. The plan is to assist customers whose income has decreased due to COVID-19 pandemic and subsequent lockdown.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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