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Canara Bank loan for Bajaj two-wheelers
BANGALORE: Canara Bank will give loans to people interested in purchasing two wheelers made by Bajaj Auto under its existing `Canmobile' scheme, a release said here on Thursday. For salaried people, the bank will give loan up to 90 per cent of the `on road' cost of the two-wheeler or 15 times the net monthly pay, whichever is less. For non-salaried people, the bank will give loan up to 90 per cent of the cost or 50 per cent of net annual income, whichever is less, the release said.
R. V. Shastri, the bank's Chairman and Managing Director, said, "No processing fee will be charged and an interest rate of 9.5 per cent will apply on the loans, to be repaid in 60 months".
— Our Staff Reporter
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