JK Bank Bike, Scooty Loan Finance Scheme Check Eligibility and Rate of Interest

JK Bank Bike, Scooty Loan Finance Scheme Check Eligibility and Rate of Interest

Never Miss An Update After Joining This Group
Join Our What’s Group Click Here
 
  • For purchases of fresh Two wheelers i.e. Scooters, Scooties, Motor Cycles, Mopeds, Battery-Operated Scooters etc of any make and model.
  • Employees of Government/Semi-Government Undertakings, Autonomous bodies, Public Sector Undertakings, Private Companies or Reputed Establishments.
  • Professionals or Self-employed individuals / Businessmen / Employees on contractual basis (Rehbare-I-Talim, Rehbare-I-Zerat)
  • Pensioners , Family Pensioners drawing their pensions from our Bank.
  • Persons engaged in Agricultural and allied activities.
  • Students with a parent (Mother or father or both) as Co-borrower. Income of both the father and mother can be considered for arriving at quantum of finance and repaying capacity.
  • Housewives aged 18 years & above, with spouse as Co-borrower. Income of the spouse shall be considered for finance.
  • Minimum employment
    • (Applicant/Co-borrower): The applicant must have been in current employment for a period not less than 6 months or must have a business standing of at least 1 years.
      • Employees on contractual basis in Government / Semi-Government undertakings, Autonomous bodies & public Sector undertakings shall also be eligible, if they have been in current contractual job for a period not less than 1 year and the remaining contract period is longer than the chosen repayment period.

AGE

  • Minimum age of applicant/co-borrower: 18 years
    • (16 years for purchase of scooter having engine capacity below 55CC).
  • Maximum age of applicant at loan maturity: 65 years.
  • Minimum Net Annual Income :  Rs. 75,000/- .
  • Minimum: Rs.25,000/-
  • Maximum: Rs.2,50,000/-
  • 10% of the ex-showroom price for Two wheelers with ex-showroom price up to Rs.1,00,000/-.
  • 20% of the ex-showroom price for Two wheelers having ex-showroom price above Rs.1,00,000/-.
  • Maximum period of 60 months.
  • Primary
    • Hypothecation of Two – Wheeler to be purchased.
  • Collateral
    a) No third party guarantee required in respect of permanent employees of State / Central Government, State / Central Government Undertakings & Autonomous Bodies drawing salary through our Bank and where letter of undertaking from employer is available.
    b) Guarantee of one person for all others.
  • 1% of Loan amount to be paid upfront subject to a
    • Minimum of Rs. 500/- and
    • Maximum of Rs-2000/

3 Shares
Copy link