Car Loan PNB

Hi I would like to have the details of the Scheme for Financing Purchase of Car by Public offered by Punjab National Bank?

Punjab National Bank is an Indian monetary administrations organization situated in New Delhi, India. Established in 1895, the bank has more than 5,800 branches and more than 6,000 ATMs crosswise over 764 urban areas.

It serves more than 80 million clients. Accessible for buy of New Car/Van/Jeep/Multi Utility Vehicle (MUV)/Sports Utility Vehicle (SUV) or for old vehicles that are not more established than 3 years. Back will be given to buy of vehicle of indigenous/remote makes.

Plan for Financing Purchase of Car by Public

Objective

To make accessible Loan for buy of auto by proposed auto purchasers on alluring terms.

Reason

To buy:

New Car/Van/Jeep/Multi Utility Vehicle (MUV) or Sports Utility Vehicles (SUV).

Old auto/van/jeep/MUV/SUV, which are not more seasoned than three years.

Qualification

For private utilize as it were.

People

Business concerns (corporate or non-corporate).

Pay Criteria

Least net month to month compensation/benefits/salary - Rs.20000/ - .

Pay of Parent(s)/Spouse/Earning Children can be included for deciding credit sum/qualification. Be that as it may, out of above wage of just a single individual can be included and he/she will remain as a co-borrower.

Quantum of Finance

For people/Proprietorship concerns: Rs. 100 lac or 25 times of Net Monthly Salary/Pension/Income, whichever is lower. Credits for higher sum might be considered on benefits of the case.

For Business Concerns (Corporate or Non-Corporate): No roof of advance sum (for at least one vehicles).

Margin

For New Vehicle: 15% of on-street value comprehensive of one time street assess and protection.

For Car where PNB has tie up course of action with makers/merchants: 10% of on-street cost

For Old Vehicles: 30% of the estimation of the vehicle.

Security

Vehicle bought to be hypothecated to the bank.

Assurance/Collateral Security

Outsider certification/Collateral Security satisfactory to the Bank.

(May be deferred by the Sanctioning Authority on benefits of individual case)

Reimbursement (Maximum)

For New Car/Van/Jeep/MUV/SUV: 84 EMIs

For Old Car/Van/Jeep/MUV/SUV: 60 EMIs

If there should be an occurrence of people occupied with farming and partnered exercises: At Half yearly/yearly interims corresponding with the season of collect.

Prepayment Charges

Coasting Rate: NO pre-installment charges.

Settled rate: @2% on the extraordinary paid ahead of time. In any case, no prepayment charges to be imposed :-

Where the credits are paid ahead of time by the borrowers from their own sources.

Where the borrower move to other bank inside 30 days from the date of upward update in the rate of premium or change in different terms of authorize.

Rate of Interest

Attached Files Available for Download

Rate of Interest.doc (57.0 KB, 5 views)

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Answered By StudyChaCha Member