State Bank Of Patiala Vehicle Loan

I want to apply for Two Wheeler Loan in State Bank Of Patiala so can you please provide me the details of loan?

[shikha]

State Bank Of Patiala offer Two Wheeler Loan to customers for purchase of Two Wheeler.

SBP – Two Wheeler Loan

Loan amount-
18 times the NMI
OR
1.5 times the NAI
OR
90% of the cost of the vehicles (Ex-Showroom price including accessories)
Whichever is less

Loan Term
Maximum : 5 Years

a) Interest Chargeable (In case of Floating Rate Loans)-
15.75% (6.25% above MCLR i.e. 9.50%)

b) Interest Chargeable (In case of Fixed Rate Loans)-
16.00% (6.50% above MCLR i.e. 9.50%)

Processing Fee : 1.22% of the Loan amount with a Minimum of Rs. 255/- and Maximum of Rs.510/-

Penalty for delayed payments-

Penal Interest @ 2% over and above the applicable rate on the entire loan outstanding for the period of such default will be charged if the EMIs remain unpaid for a period of 30 days from the due date, for any reason, including a bounced cheque.

EMI Payable-

For Borrowers other than Agriculturists : In Equated Monthly Installments

For Agriculturist Borrowers :

The periodicity of Installment for repayment will be decided as yearly/half Yearly/Quartely/ monthly depending upon the income generation

Toll Free: 1800-180-2010