Electric Two-Wheeler Loan
The Shriram Electric Two-Wheeler Loan is specifically designed for individuals looking to invest in eco-friendly transportation. As the popularity of electric two-wheelers continues to grow, our loan provides an accessible and affordable financing solution for those seeking to make the switch to sustainable mobility. With competitive interest rates starting from 10%* p.a., borrowers can finance up to 100%* of the on-road cost of their chosen electric vehicle. The application process is entirely digital, allowing customers to apply online without visiting a physical branch. Shriram Finance provides minimal documentation requirements and quick loan approvals. Flexible repayment tenures range from 12 to 36 months, ensuring that customers can select a plan that suits their financial needs.
With competitive interest rates and flexible repayment options, this loan caters to various financial needs, ensuring that owning an electric two-wheeler is within reach for everyone. Whether you're a daily commuter or someone looking to reduce your carbon footprint, our dedicated team is here to assist you throughout the application process. Explore this page to learn how our electric two-wheeler loan can help you embrace a greener lifestyle while enjoying the convenience and efficiency of electric mobility.
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.
Up to 5%*
Up to 4%* (allowing early loan closure with minimal penalties.)
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:
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.
Competitive Interest Rates
Interest rates start from 10%* p.a., ensuring affordability for all customers.
Quick Approval
Enjoy fast loan approval, allowing you to get on the road quickly.
Minimal Documentation
The application process is streamlined with minimal paperwork required, simplifying your borrowing experience.
Flexible Repayment Tenures
Choose repayment options ranging from 12 to 36 months, allowing you to select a plan that fits your budget.
Online Application Process
Apply easily through Shriram Finance website without needing to visit a branch. A dedicated representative will assist you throughout the process.
Customer Support
Access reliable customer support for any queries or assistance needed during the loan process.
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:
- Aadhar Card, Passport, Driving Licence, Voter ID Card, PAN Card
- Passport, Driving Licence, Utility Bill (eg : Gas Bill), Aadhar Card
- Salary slips for the last three months (for salaried individuals)
- Income Tax Returns or profit and loss statements (for self-employed individuals)
- Bank statements for the last six months to verify income and financial stability.
- Recent passport-size colour photographs
- 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.
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
Min months
Max months
Loan Summary
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.
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