Jk Bank Scooty Loan: For purchases of fresh Two wheelers i.e. Scooters, Scooties, Motor Cycles, Mopeds, Battery-Operated Scooters etc of any make and model.
ELIGIBILITY
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.
READ: JK Bank Solar Inverter Finance Eligibility, Interest Rates, FAQ
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.
READ: JK Bank Calendar 2023 PDF, Download Full Calendar
| Article | Two-Wheeler Finance |
|---|---|
| Minimum Employment | 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. |
| 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. |
| Income Criteria | Minimum Net Annual Income : Rs. 75,000/- |
| Repayment Period | Maximum period of 60 months. |
| Processing Charges | 1% of Loan amount to be paid upfront subject to a Minimum of Rs. 500/- and Maximum of Rs-2000/ |
| Prepayment Charges | Nil |
| Offical Website | jkbank.com |
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.
INCOME CRITERIA
Minimum Net Annual Income : Rs. 75,000/- .
QUANTUM OF FINANCE
Minimum: Rs.25,000/-
Maximum: Rs.2,50,000/-
MARGIN
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/-.
REPAYMENT PERIOD
Maximum period of 60 months.
SECURITY
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.
PROCESSING CHARGES
1% of Loan amount to be paid upfront subject to a
Minimum of Rs. 500/- and
Maximum of Rs-2000/
PREPAYMENT CHARGES
Nil
RATE OF INTEREST (SUBJECT TO CHANGE)
- RLLR+2.00% (Fixed) RLLR+1.50% (Floating)
- Click here for rate of Interest
- Rebate of 25 basis point for female borrowers
