PGB Loan Scheme for Purchasing Two Wheeler



For purchase of new two wheelers viz. Scooter(s), Motor cycle(s), Scooterrete(s)



  1. Individuals with income - proof criteria
  2. Students, aged 18 years and above, till gainfully employed with parent as co- borrower
  3. Business concerns (Corporate or non –corporate)
  4. Individuals not having any income proof but are residing at the given address atleast for last 3 years or more
  5. Individuals with past repayment track record with no defaults (not more than one year old)

Extent of Loan

Rs. 90000/-


Margin(%age of on
road price*)

* Road Price = invoice value +

cost of one time road tax +

first time comprehensive

insurance premium for 1 year


i. Where salary is being disbursed through the
concerned bank branch
ii. Undertaking from the employer for deduction of
monthly installment from the salary of concerned
employee is available.


Students, where parent is a co-borrower


i. Business concern Or
ii. Where there is no-income proof, e.g., self-employed
individuals etc. Or
iii. Individuals as per (e) above, with a maximum
loan amount of Rs.40,000/-


All other cases not falling in 5%, 25% and 30% slab


income Criteria/ Pre-requisites

(except for d and e

(Eligibility criteria)

Minimum Net Monthly Income of Rs.5,000/- p.m.

However, in case of permanent employees of Government
Department/ institutions including schools/colleges, PSU's andreputed corporates whose salary is being disbursed through usand/or an undertaking is available from the employer to deductmonthly installment from the salary of the employee the minimum NetMonthly Income requirement is Rs.4000/- p.m.

In case of students, Income/salary proof of parent/guardian who willbe co-borrower.

The income of farmers based onincome recorded in other loan taken, (if any), their land holding,cropping pattern, yield, etc.

Income of spouse can be taken into consideration for determining theincome criteria.




For scooter and Motorcycle: Maximum 60 EMIs

ForScooterrete : Maximum 36 EMIs.

In case of persons engaged in agriculture & allied activities, Bank fix repayment schedule atquarterly/half yearly/yearly intervals coinciding with the time ofharvest with a maximum of 3 years for Scooterrete and Mopedand 5 years for Scooter and Motorcycle.



The vehicle purchased with the amount of loan to be hypothecated tothe Bank. It will be registered in the name of borrower under HPA with theBank.

24 post dated cheques


Upfront / Documentation Charges

Upfront:         Rs. 200/- for all eligible borrowers except for                  students, where it is nil.
Documentation: Rs. 300/-


Salient Features

i. Maximum loan amount under the scheme shall be Rs.90,000/-.
ii. Minimum net monthly income level shall be Rs.5,000/- for generalindividuals and Rs.4000/- for those drawing salary through ourbranches.
iii. Loan amount & Margin calculation will be on ‘on road price’ for allprospective borrowers as against invoice value as at present;
iv. Levy of cheque returning charges of Rs.250 per cheque have beenprescribed in case of return of any cheque towards EMI;
v. Guarantee has been waived except where loan is allowed to aprospective borrower having ‘No Income Proof and where income of thespouse is taken into consideration for determining the income criteria;



For more detail, please contact to our nearest branch.