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IOB Pushpaka Loan (Two Wheeler)
Avail loan for purchase of a new two wheeler like Motorcycle, Mopeds or Scooty etc. for personal use.
Borrow up to 90% of the cost of the two wheeler or 10 times the gross monthly income, whichever is lower. Subject to maximum Rs. 60,000.
Repayable in maximum 72 months i.e. 6 years.
Processing fee of 0.50% or minimum Rs. 500 is applicable for loan up to Rs. 5 Lacs and 0.60% or minimum Rs. 10,000 for loan above Rs. 5 Lacs.
A suitable guarantee from Resident Indian is necessary in case of NRIs customer.
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