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Re: Punjab National Bank Auto Loan
Punjab National Bank offers Scheme to customers for Financing Purchase of Car by Public. PNB Car loan- Objective - To make available Loan for purchase of car by proposed car buyers on attractive terms Purpose To purchase: New Car/Van/Jeep/Multi Utility Vehicle (MUV) or Sports Utility Vehicles (SUV) Old car/van/jeep/MUV/SUV, which are not older than three years Eligibility - For private use only. Individuals- Business concerns (corporate or non-corporate) Income Criteria - Minimum net monthly salary / pension/ income - Rs.20000/-. Quantum of Finance - For individuals/Proprietorship concerns: Rs. 100 lac or 25 times of Net Monthly Salary / Pension/ Income, whichever is lower. Loans for higher amount may be considered on merits of the case. For Business Concerns (Corporate or Non-Corporate): No ceiling of loan amount (for one or more vehicles). Margin - For New Vehicle: 15% of on-road price inclusive of one time road tax & insurance. For Car where PNB has tie up arrangement with manufacturers/dealers: 10% of on-road price For Old Vehicles: 30% of the value of the vehicle. Security - Vehicle purchased to be hypothecated to the bank. Guarantee/ Collateral Security - Third Party guarantee/ Collateral Security acceptable to the Bank. Repayment (Maximum) - For New Car/Van/Jeep/MUV/SUV: 84 EMIs For Old Car/Van/Jeep/ MUV/SUV: 60 EMIs In case of persons engaged in agriculture & allied activities: At Half yearly/yearly intervals coinciding with the time of harvest Prepayment Charges - Floating Rate: NO pre-payment charges. Fixed rate: @2% on the outstanding pre-paid. However, no prepayment charges to be levied :- Customer service: 1800 180 2222 |
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