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**VIJAY ''BIKER'' CHAUHAN** · 11-28-2013, 07:20 PM

Re: Bank loans for Used Superbikes is possible

Originally posted by coolmaverickguy View Post

thanx a ton bhai. 1+month is too much right now. ill be needing to with 10 days or so. still i called on my friend who works in idbi, let she what she has to tell. will check out pnb also, why father use to work in pnb and my mom still hold some fd in there. wish i could get some loan against the fd. is it possible to take loan in my moms name and purchase bike in my name. its not right ... right ?

If you take a loab against fd u need not tell what it is for as it is fully secured one can drink himself to death with the loan money cuz bank will always b able to recover it from fd. So u can buy the bike on your name with loan being on your mothers name. i work in pnb and for any details regarding loans u can put question to me.

Sent from my GT-S5360 using xBhp Connect mobile app

**coolmaverickguy** · 11-28-2013, 07:40 PM

Re: Bank loans for Used Superbikes is possible

Originally posted by VIJAY ''BIKER'' CHAUHAN View Post

If you take a loab against fd u need not tell what it is for as it is fully secured one can drink himself to death with the loan money cuz bank will always b able to recover it from fd. So u can buy the bike on your name with loan being on your mothers name. i work in pnb and for any details regarding loans u can put question to me.

Thanks a lot bhai will definitely ask you if i face any problem

**trustvishwas** · 11-29-2013, 10:43 AM

Re: Bank loans for Used Superbikes is possible

Originally posted by reevester View Post

Congratulations buddy, you just gave me crap-loads of hope!!!

One important question, how did you find that R1 guy though? I've been trying to network and find a good used steed to find, but am unable to. Any pointers on that?

Additionally, I will not have Tax Returns for the past three years because I haven't been working that long, but my current salary/credit history should not be an issue. Will that matter?!

I searched everywhere, on every forum, every classified ad ever posted...finally found a guy with very low km run bike and he turned out to be Yamaha dealer. If you want, can send his contact number (since your town is shown as Mumbai / Pune)

Originally posted by rx100.7050 View Post

Just got to see this thread..... BRILLIANT JOB there man!!! I never knew that getting a loan and that too from a Nationalized bank would be quite simple enough for a second hand vehicle!!!! This is fantastic stuff brother. You surely pulled off a miracle there buddy and you actually showed some ray of hope for guys like us!!! Can't just thank you enough but hats off to you bro. Have an awesome ownership experience with your FZ1 !

Thanks.

**reevester** · 11-29-2013, 12:52 PM

Re: Bank loans for Used Superbikes is possible

I would be obliged if you could PM me his number.

Also, gimme details of the deal you got on the bike!

**coolmaverickguy** · 12-03-2013, 04:57 PM

Re: Bank loans for Used Superbikes is possible

Originally posted by VIJAY ''BIKER'' CHAUHAN View Post

If you take a loab against fd u need not tell what it is for as it is fully secured one can drink himself to death with the loan money cuz bank will always b able to recover it from fd. So u can buy the bike on your name with loan being on your mothers name. i work in pnb and for any details regarding loans u can put question to me.

what a shock i got!! . pnb is asking for 12.25% for demand loan [ loan against fd] [ fd intrest rate is 10.25+2 = 12.25]. as i been told that since the fd is in my mother name 2 % extra will be charged !!

**trustvishwas** · 12-04-2013, 11:16 AM

Re: Bank loans for Used Superbikes is possible

Originally posted by coolmaverickguy View Post

what a shock i got!! . pnb is asking for 12.25% for demand loan [ loan against fd] [ fd intrest rate is 10.25+2 = 12.25]. as i been told that since the fd is in my monther name 2 % extra will be charged !!

Loan against FD is always 2% more than the interest rate offered on FD.

**VIJAY ''BIKER'' CHAUHAN** · 12-04-2013, 11:53 AM

Re: Bank loans for Used Superbikes is possible

Originally posted by coolmaverickguy View Post

what a shock i got!! . pnb is asking for 12.25% for demand loan [ loan against fd] [ fd intrest rate is 10.25+2 = 12.25]. as i been told that since the fd is in my monther name 2 % extra will be charged !!

Yes loan against fd is given at the rate 2% higher than rate of interest on fd. But u don't need to give them exact reason for loan. And they won't have to charge 2% for buying the bike in your name. You can buy bike in your name while the loan is on your mothers name as you are taking a demand loan against fd and not a 2 wheeler loan. So just talk to higher officials even that 2% extra rate of interest may b waived to 1%. You just have to talk your way in.

Sent from my GT-S5360 using xBhp Connect mobile app

**coolmaverickguy** · 12-04-2013, 12:41 PM

Re: Bank loans for Used Superbikes is possible

Originally posted by trustvishwas View Post

Loan against FD is always 2% more than the interest rate offered on FD.

Originally posted by VIJAY ''BIKER'' CHAUHAN View Post

Yes loan against fd is given at the rate 2% higher than rate of interest on fd. But u don't need to give them exact reason for loan. And they won't have to charge 2% for buying the bike in your name. You can buy bike in your name while the loan is on your mothers name as you are taking a demand loan against fd and not a 2 wheeler loan. So just talk to higher officials even that 2% extra rate of interest may b waived to 1%. You just have to talk your way in.

ok bhai i'll try to talk to them and bring that down to 11%. otherwise hdfc looks more attractive at 10.90% of course there is 2.5% documentation charge. prepayment charges in pnb is also very less at only 2%. the thing is i dont like to use my dad name. he was senior manager in the same bank, i guess i have to make some calls. finger crossed let see what happens.

**trustvishwas** · 12-04-2013, 12:50 PM

Re: Bank loans for Used Superbikes is possible

Originally posted by coolmaverickguy View Post

ok bhai i'll try to talk to them and bring that down to 11%. otherwise hdfc looks more attractive at 10.90% of course there is 2.5% documentation charge. prepayment charges in pnb is also very less at only 2%. the thing is i dont like to use my dad name. he was senior manager in the same bank, i guess i have to make some calls. finger crossed let see what happens.

You are confusing between two kinds of loans.

1. You are taking a loan against FD which would be approx. 2% (or 1% if negotiated) more than the interest rate offered on FD.
2. You are talking about HDFC loan. I presume that this is a straight loan and not loan against FD.

These two are completely different kind of loans. If you wish to obtain a loan for purchase of vehicle, I suggest that you should approach any of the nationalised banks. You may feel that they are charging you more (interest rate at around 11.25%). However, please key in relevant loan details in the excel file uploaded in earlier post. It is possible for the quoted interest rate and actual EMI asked may not match. It is always better to verify that. Natonalised banks do not charge you for pre-payment which private banks do.

**BLACKRiVAL** · 12-05-2013, 03:34 AM

Re: Bank loans for Used Superbikes is possible

I got loan for my bike against my moms sbi fd for just 0.5% more.

**prateek95** · 05-25-2014, 12:52 AM

Re: Bank loans for Used Superbikes is possible

would this used bike policy apply on gt250r if i buy that second hand for 2 lacs approx.? please reply soon

**trustvishwas** · 05-26-2014, 11:26 AM

Re: Bank loans for Used Superbikes is possible

Originally posted by prateek95 View Post

would this used bike policy apply on gt250r if i buy that second hand for 2 lacs approx.? please reply soon

You can buy any two wheeler. However, now a days banks are less inclined towards processing small sized loans.

One honest question. Why would you want to buy a GT250? You can get a used Ninja 250 around the same price and Ninja is far better than GT (in my opinion)

**prateek95** · 05-26-2014, 07:00 PM

Re: Bank loans for Used Superbikes is possible

Originally posted by trustvishwas View Post

You can buy any two wheeler. However, now a days banks are less inclined towards processing small sized loans.

One honest question. Why would you want to buy a GT250? You can get a used Ninja 250 around the same price and Ninja is far better than GT (in my opinion)

i respect your suggestion about ninja but they are too common here in my city and it looks lika relaxed machine and hyosungs are rare in my place and comet is louder than ninja . but no offence it is just me

but as you can see my signature i m waiting for rc 200 but it is taking forever long and doesnt look like it is coming before diwali, i cant wait that long my college is starting, i need one bike for daily run

**trustvishwas** · 05-27-2014, 10:33 AM

Re: Bank loans for Used Superbikes is possible

Originally posted by prateek95 View Post

i respect your suggestion about ninja but they are too common here in my city and it looks lika relaxed machine and hyosungs are rare in my place and comet is louder than ninja . but no offence it is just me

No offence taken at all.

Only pointed out was because of better reliability and performance of Ninja.

**Shreeni0403** · 05-27-2014, 05:56 PM

Re: Bank loans for Used Superbikes is possible

[MENTION=23857]trustvishwas[/MENTION] : Unable to find the excel document mentioned by you in earlier post. I guess I am missing something, can you please share the link ?

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