Skip to content
active
stickyTab

Electric Two-Wheeler Loan

Electric Two-Wheeler Loan Interest Rates and Charges

Shriram Finance offers attractive interest rates and charges for electric two-wheeler loans, making eco-friendly transportation accessible. The interest rates start at 10%* p.a., tailored to individual financial profiles. Borrowers can finance up to 100%* of the on-road price of the vehicle, ensuring affordability.

Starting from 10%* p.a.

Rate of Interest 

Up to 5%*

Processing Fees 

Up to 4%* (allowing early loan closure with minimal penalties.)

Foreclosure Charges 

With flexible repayment tenures ranging from 12 to 36 months, Shriram Finance aims to provide a seamless borrowing experience for electric two-wheeler enthusiasts. For further details, refer to Shriram Finance official Interest Rate Policy.

Features & Benefits of Electric Two-Wheeler Loan

Shriram Finance's Electric Two-Wheeler Loan comes with a host of features and benefits designed to facilitate the purchase of eco-friendly vehicles. Here’s an overview:

user

Up to 100%* Financing

Borrowers can finance the entire on-road cost of their electric two-wheeler, making it easier to own a vehicle without a hefty down payment.

Collateral-free Loans

Competitive Interest Rates

Interest rates start from 10%* p.a., ensuring affordability for all customers.

Flexible Payout Options

Quick Approval

Enjoy fast loan approval, allowing you to get on the road quickly.

Document

Minimal Documentation

The application process is streamlined with minimal paperwork required, simplifying your borrowing experience.

High Loan-to-Value (LTV) Ratio

Flexible Repayment Tenures

Choose repayment options ranging from 12 to 36 months, allowing you to select a plan that fits your budget.

calendar tick

Online Application Process

Apply easily through Shriram Finance website without needing to visit a branch. A dedicated representative will assist you throughout the process.

Call Centre

Customer Support

Access reliable customer support for any queries or assistance needed during the loan process.

repair_topup

User-Friendly Tools

Utilize online calculators to estimate EMIs and plan your budget effectively.

With these features and benefits, Shriram Finance aims to make electric two-wheeler ownership accessible and convenient for everyone.

Documents Required for Electric Two-Wheeler Loan

To apply for an Electric Bike Loan from Shriram Finance, applicants must provide a set of essential documents to ensure a smooth application process. Here’s a comprehensive list of the required documents:

Identity Proof
  • Aadhar Card, Passport, Driving Licence, Voter ID Card, PAN Card
Address Proof
  • Passport, Driving Licence, Utility Bill (eg : Gas Bill), Aadhar Card
Income Proof Document
  • Salary slips for the last three months (for salaried individuals)
  • Income Tax Returns or profit and loss statements (for self-employed individuals)
Bank Statements
  • Bank statements for the last six months to verify income and financial stability.
Photographs
  • Recent passport-size colour photographs
Other Documents
  • One cancelled cheque and an ACH form for Electronic Clearing Mandate.
  • Duly endorsed Vehicle Registration Certificate upon receipt for new vehicles.

Having these documents ready will facilitate a quicker approval process, allowing you to enjoy your electric two-wheeler sooner.

Floating Button

Electric Two-Wheeler Loan Calculator

Shriram Finance provides an intuitive electric two-wheeler loan calculator, designed to help potential borrowers estimate their monthly EMIs and overall loan costs effortlessly.

STEP 01

Required loan amount

Min ₹ 1 L

Max ₹ 10 L

STEP 02

Interest rate

%

Min 13%

Max 16%

STEP 03

Tenure up to
months

Min months

Max months

Loan Summary

loangraph

Loan

Loan Amount

₹ 1,00,000

Interest Payable

₹ 29,146

Monthly EMI

₹ 3,075

By using the Electric Two-Wheeler Loan Calculator from Shriram Finance, you can make informed decisions about financing your eco-friendly vehicle. For more information, visit the Shriram Finance website and explore your electric two-wheeler loan options today!

How to Apply for Electric Two-Wheeler Loan Online

Applying for an Electric Two-Wheeler Loan from Shriram Finance is a straightforward and convenient process that can be completed entirely online. Follow these simple steps to get started:

  • Step 01

    Register Your Details: Click on the 'Apply Now' option and register using your mobile number. This step ensures that you have a unique identifier for your application.
  • Step 02

    Provide Personal Information: Fill in your basic personal details, including your name, address, and contact information.
  • Step 03

    Select Your Two-Wheeler: Choose the electric two-wheeler you wish to finance, ensuring it meets your requirements.
  • Step 04

    Upload Required Documents: Submit the necessary documentation, including identity proof, address proof, income proof, and any other relevant documents.
  • Step 05

    Eligibility Calculation: Once your information is submitted, the online tool will calculate your eligibility and generate an in-principle sanction letter or voucher.
  • Step 06

    Collect the loan voucher and visit the showroom: Visit the Dealer. Take the in-principle sanction voucher to your chosen dealer, where they will review your details and assist you further.
  • Step 07

    Complete the Process: Meet with a Shriram Finance representative at the dealership to submit KYC documents and finalize your loan agreement.

By following these steps, you can easily apply for an electric two-wheeler loan from Shriram Finance and take a significant step towards sustainable transportation. For any queries or assistance during the process, feel free to reach out to Shriram Finance’s customer support.

Border Bottom
Floating Button

Electric Two-Wheeler Loan FAQs

What are the benefits of taking a loan for an electric two-wheeler?

Taking a loan for electric two-wheeler purchase offers numerous benefits that make it an attractive option for environmentally conscious consumers. Firstly, Shriram Finance provides 100%* financing, allowing you to cover the entire on-road cost without a large upfront payment. Additionally, electric two-wheeler loans come with competitive interest rates, making them affordable and easy to manage. The quick online application process and minimal documentation further simplify ownership, enabling a seamless transition to eco-friendly transportation.

Are electric two-wheeler loans available for pensioners?

Yes, pensioners can finance their EV two-wheeler purchase with Shriram Finance. Loan eligibility criteria include age limits, with a minimum age of 18 and a maximum of 59 at the end of the loan term.

Are there loans available for purchasing premium electric motorcycles?

Yes, loans are available for purchasing premium electric motorcycles through Shriram Finance. The company offers financing options that cater to a wide range of electric two-wheelers, including high-end models. With competitive interest rates starting from 10%* p.a., borrowers can finance up to 100%* of the on-road cost of their chosen motorcycle. The application process is streamlined and can be completed online, requiring minimal documentation. Shriram Finance also provides flexible repayment tenures ranging from 12 to 36 months, making it easier for customers to manage their finances.

What is the maximum loan amount available for an electric two-wheeler?

The maximum loan amount available for purchasing an electric two-wheeler through Shriram Finance can reach up to 100%* of the on-road price of the vehicle. This means that borrowers can finance the entire cost, including the ex-showroom price, road tax, registration, and insurance. However, the actual loan amount may vary based on factors such as the applicant's income, creditworthiness, and the specific model of the electric two-wheeler being purchased. It's advisable to consult with Shriram Finance directly or use our online loan calculator for precise figures tailored to individual circumstances.

Can I use the loan to buy accessories for my electric two-wheeler?

Yes, you can use the loan obtained from Shriram Finance to purchase accessories for your electric two-wheeler. While the primary purpose of the loan is to finance the purchase of the vehicle itself, many lenders, including Shriram Finance, allow borrowers to include additional costs such as accessories and modifications within the total loan amount, provided they fall within the 100%* financing limit of the on-road price. When applying for the loan, it's advisable to specify that you intend to include accessories in your financing request. This ensures that all related expenses are covered, making your electric two-wheeler experience more enjoyable and tailored to your needs. For detailed terms and conditions, consult with Shriram Finance directly or refer to their official documentation.

What are the interest rates for electric two-wheeler loans?

The interest rate for Shriram Electric Two-wheeler Loan start at 10%* p.a. This competitive rate is designed to make financing electric vehicles more accessible for consumers. The exact interest rate may vary based on factors such as the applicant's credit profile, loan amount, and tenure. Borrowers can benefit from flexible repayment options, with tenures typically ranging from 12 to 36 months. Additionally, Shriram Finance offers a user-friendly online application process, allowing customers to apply for loans conveniently and receive quick approvals. For more detailed information on specific rates and terms, it's advisable to consult Shriram Finance directly or visit their official website.

How can I track my electric two-wheeler loan application status?

To track your electric two-wheeler loan application status with Shriram Finance, you have a couple of convenient options. First, you can visit the Shriram Finance website or Shriram One mobile app and navigate to the loan status section. Here, you will need to enter your loan application number, date of birth, and registered mobile number to access the current status. Alternatively, you can contact Shriram Finance's customer service. Provide your application details to a representative for real-time updates on your loan status. This ensures you stay informed throughout the process.

Low Processing Charges & Quick Loan Disbursals on EV Two Wheeler Loan