WBGB Two Wheeler Loan

With the growing demand for personal mobility and the rising cost of two-wheelers, there is an increasing need for accessible and affordable financing options tailored to a wide range of customers. In response, the Bank has introduced a new Two-Wheeler Loan Scheme aimed at providing convenient and competitive financing solutions to individuals seeking to purchase two wheelers for personal or professional use.

For purchase of new two wheelers viz.

• Scooter(s)
• Motor cycle(s)
• Moped(s)
• e-Two-Wheeler (subject to Registration of Two-Wheeler with RTO)

• Existing customers of our bank with at least 6 months satisfactory transactional record OR new customer with satisfactory track record of last one year with other Bank/FI in the age group of 18 years and 65 years holding a valid driving license. Salaried persons with pension eligibility are eligible up to 70 years of age.
• Students-18 years and above till gainfully employed, with salaried parent as co-borrower drawing salary from our bank.

Term loan

• Minimum Net Monthly Salary/Income (NMS/I) of ₹10,000/- p.m. after all deductions including the proposed two-wheeler loan installment.
• Income of Spouse can be taken into account for determining loan amount/eligibility. In such case, the spouse be made co-borrower.
• In case of students, Income/salary proof of parent/guardian who will be co-borrower be considered.
• Minimum income criteria is waived for borrower who agrees to give 110% liquid security in shape of term deposit. However, Sanctioning Authorities to fully satisfy himself/herself w.r.t regular cash flows to ensure repayment of monthly EMIs.

Note: Waiver of guarantee permissible under following circumstances:

• Liquid Collateral Security (FDRs, NSCs, LICs) having present/surrender value of at least 60% of the loan amount is offered.
• In case EM of IP is offered to the extent of 100% of the loan amount.

• As per Bank's Pricing Policy.

• 0.59 % of Loan amount ( Inclusive of applicable GST) subject to minimum Rs590.

• i. In case of default in repayment of loan: 2% p.a.
• ii. Noncompliance of terms & conditions: 2% p.a.

2% of the outstanding balance to be pre-paid, if the loan is shifted to other Bank/Financial Institution.