Low-Interest Rates
We come up with competitive interest rates, allowing you to save money on your finances
Power Your Ride with Easy
EV Two-Wheeler Loans
Instant approval and hassle-free loans to help you ride into a sustainable future with ease.
Features and Benefits
Embrace the future of transportation with our e-vehicle loan, offering competitive rates, eco-friendly benefits, and a smoother, greener ride towards a sustainable tomorrow
Up to 100% financing
Our up to 100% financing options ensure that you can leave no compromise behind when it comes to choosing your dream two-wheeler
Quick approvals and disbursals
We often provide quick loan approval and disbursal, ensuring you can get your two-wheeler without unnecessary delays
Reduced Costs
We lower the operating costs compared to traditional vehicles, leading to long-term savings on fuel and maintenance
Flexible Loan Terms
We often provide flexible repayment terms, allowing borrowers to tailor the loan to their financial capabilities
Long-Term Savings
E-vehicles tend to have longer lifespans and lower maintenance cost, resulting in potential cost savings over the life of the vehicle
Calculate Your EMI
Plan your finances better with our easy-to-use EMI calculator.
Instant Calculation
See results as you adjust
Clear Breakdown
Principal vs Interest
Mobile Friendly
Works anywhere
EMI Calculator
₹
₹1 Lakh₹1 Crore
%
8%26%
Years
1 Year30 Years
Your Monthly EMI
Principal Amount₹1,00,000
Total Interest₹1,98,444.99
Total Payable₹2,98,444.99
Tenure20 Years (240 months)
a quick and transparent process
We have a simple online application
Check Eligibility
Check eligibility criteria before applying for a loan to ensure approval possibilities.
Calculate Your EMI
Estimate your monthly EMI effortlessly with our user-friendly loan calculator.
Check Required Documents
Ensure which necessary documents are required for loan application.
Fill Application Form
Accurately provide all required information in the loan application form for prompt processing.
Eligibility and Documents
Essential documents that need to be provided to complete the process successfully are listed below:
Identification & Address Proof
Any government-issued identification document such as Aadhaar card, PAN card, passport, voter ID card, or driving license.
Passport-sized Photographs
Recent passport-sized photographs of the loan applicant.
Income Proof
To assess the applicant’s repayment capacity, income proof is required. It can include salary slips, bank statements, income tax returns (ITR), or a letter from the employer.
Employment Proof
If the applicant is salaried, they may need to provide an employment certificate from their employer. If self-employed, relevant business documents like business registration, GST certificate, etc., may be required.
Bank statements
The last 3 to 6 months of bank statements are required to evaluate the applicant’s financial stability.
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Frequently Asked Questions
Questions From Customers
What are the eligibility criteria for obtaining an e-vehicle loan?
Age: You should be between 21 to 58 years old. Minimum income: Your annual income should be at least ₹1.44 lakhs.
What documents are usually required to apply for an e-vehicle loan?
- Statement of bank account for last 6 months
- 2 passport size photos
- Proof of Identity
- Address Proof
Can I get an e-vehicle loan for used electric vehicles or only new ones?
Yes, you can apply loan for used or new electric vehicles.
What factors determine the interest rate for an e-vehicle loan?
- Credit Score
- Long Term
- Down Payment
- Vehicle Price and Value
- Economic Conditions
Are there any government incentives or subsidies available for e-vehicle loans?
Each state has its own set of criteria for subsidy in electric vehicles.
How long does it take to get approval for an e-vehicle loan?
Instant processing of electric vehicle loans, and for approval it will takes 2-3 Days.
What is the typical repayment period for an e-vehicle loan?
Maximum period of repayment is two to three years.
Can I include the cost of charging equipment or installation in my e-vehicle loan?
Including the cost of charging equipment or installation in your e-vehicle loan may be possible, depending on the policies of the lender and the specific terms of the loan.
Are there any penalties for early repayment of an e-vehicle loan?
Some may have a prepayment penalty — a fee for paying off a loan early or making extra payments.
What happens if I default on my e-vehicle loan?
If you don't pay your loan, your Vehicle will eventually be repossessed.
Can I refinance my e-vehicle loan to get better terms?
Modern refinancing technology can offer you loan terms that are tailored to you and your EV.
Is there a maximum loan amount for e-vehicle loans?
1.5 Lakh is maximum amount for e-vehicle loans.
Are there any special considerations for leasing an electric vehicle vs. buying with a loan?
When you lease, your monthly payments are generally lower than when you buy an EV with a loan.
Can I use an e-vehicle loan to purchase an electric bike or scooter?
Whether you can use an e-vehicle loan to purchase an electric bike or scooter depends on the policies of the lender and the specific terms of the loan.
How does my credit score affect my chances of getting approved for an e-vehicle loan?
A higher credit score (E-Vehicle loan with a 650 credit score and above) makes lenders more inclined to approve your loan application.
Can I use an e-vehicle loan to cover the cost of electric vehicle accessories or upgrades?
In many cases, yes, you can use an e-vehicle loan to cover the cost of electric vehicle (EV) accessories or upgrades. However, it's essential to clarify this with your lender before taking out the loan, as policies may vary depending on the institution.
What are the advantages of obtaining an e-vehicle loan from a credit union vs. a bank?
- Potentially Lower Interest Rates
- Member-Focused Service
- Flexible Lending Criteria
- Convenience and Accessibility
- Range of Financial Products
- Brand Recognition and Stability
- Promotional Offers and Incentives
Are there any specific insurance requirements for vehicles purchased with an e-vehicle loan?
The specific insurance requirements for vehicles purchased with an e-vehicle loan can vary depending on the lender's policies and your location.
Can I transfer my e-vehicle loan to someone else if I sell the electric vehicle?
Whether you can transfer your e-vehicle loan to someone else when you sell the electric vehicle depends on the policies of your lender and the agreement you have with them.
Is there a minimum down payment required for e-vehicle loans?
The minimum down payment required for e-vehicle loans can vary depending on several factors, including the lender's policies, your creditworthiness, the cost of the vehicle, and any incentives or promotions available at the time of purchase.
Are there any limitations on the geographical area where I can use an e-vehicle purchased with a loan?
Generally, there are no geographical limitations on where you can use an electric vehicle (EV) purchased with a loan. You can typically drive your EV wherever you'd like, just like any other vehicle.
How can I find the best e-vehicle loan rates and terms for my situation?
Finding the best e-vehicle loan rates and terms for your situation involves some research and comparison shopping.