| Loan Name | PNB Power Ride |
| Purpose | Purchase of a new two-wheeler such as Scooter, Motorcycle or Moped, subject to registration with RTO |
| Target Borrowers | Women borrowers |
| Eligible Salaried Women | Minimum 6 months’ service in the present organisation |
| Eligible Self-Employed Women | More than 1 year of experience, based on declaration, bank account, ITR, etc. |
| Students | Eligible with parent/guardian as co-borrower |
| Age | 18 to 65 years |
| Driving Licence | Valid driving licence required |
| Student Driving Licence | Licence may be in the name of the student, parent or guardian |
| Minimum Net Monthly Salary/Income | ₹8,000 per month, including the proposed two-wheeler loan instalment |
| Income Proof – Salaried | Latest 3 salary slips along with Form 16 / previous year’s ITR |
| Income Proof – Self-Employed | Previous year’s ITR |
| Income Proof – Student | Income/salary proof of the parent/guardian who is the co-borrower |
| Maximum Loan Amount | ₹60,000 |
| Loan Assessment | Need-based, subject to a maximum of ₹60,000 |
| Margin | 10% of ex-showroom price |
| Security | Hypothecation of the two-wheeler financed by PNB |
| Guarantee | Guarantee acceptable to the bank as per applicable guidelines |
| Maximum Repayment Period | 36 months |
| Maximum Deduction | All deductions, including the proposed two-wheeler loan EMI, should not exceed 50% of Gross Monthly Salary/Income |
| Prepayment Charges | Nil |
| Interest Rate – Women | 10.00% p.a. floating under the current PNB rate table; fixed rate shown is 11.00% p.a. |
| Interest Rate Structure | RLLR + BSP + 1.90% for PNB Power Ride |
| Interest Calculation | Interest is charged on advances on the basis of 365 days per year, unless otherwise specified |
| Processing Charges / Upfront Fee | As per PNB’s applicable charges |
| Documentation Charges | As per PNB’s applicable charges |
| Key Benefit | Special two-wheeler financing scheme with a lower interest rate for women borrowers |
| Important Note | The PNB page states that the above are only the salient features and advises contacting the nearest branch for complete details. |
