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
  • Term loan
Interest rate
  • Competitive rate (subject to change)
Repayment
  • 3 yrs on EMI basis
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.