The demand for electric two-wheelers in India is on the rise, driven by their affordability, lower operating costs, and environmental benefits. IDFC FIRST Bank offers loans for electric bikes and scooters with flexible tenures ranging from 6 to 48 months, making it easier for customers to switch to greener mobility. The loan application process is digital, and the bank offers lending facilities for a range of electric scooters and motorcycles.
The features of IDFC FIRST Bank’s electric two-wheeler loans include loan amounts of up to ₹20 lakhs, repayment tenures of up to 60 months, and a digital loan process with minimal paperwork. The bank also offers interest rates structured to keep monthly EMIs low and manageable. Customers can apply for the loan online through the bank’s website or mobile application or offline through partner showrooms.
To apply for the loan, customers need to ensure that the selected electric two-wheeler model qualifies for financing under the bank’s lending rules. They can estimate their monthly installments using the electric bike loan EMI calculator available on the bank’s website. The financing may cover up to 95% of the on-road price, but customers need to consider other costs such as insurance and registration.
To be eligible for the loan, customers must be resident Indians above the age of 21 years, although those between 18 and 21 years old can apply with a co-applicant. They need to have their identity documents, address documents, and passport-size photographs ready for a smooth loan procedure.
IDFC FIRST Bank’s customized loan solutions make it easier for customers to transition to electric two-wheelers. With loan amounts up to ₹20 lakhs, tenures up to 60 months, and online loan processing, financing is structured to support swift electric two-wheeler purchases. Whether customers want to buy an electric scooter or an electric bike, they can explore loan options offered by IDFC FIRST Bank based on their requirements.
Overall, IDFC FIRST Bank’s electric two-wheeler loans provide an accessible and convenient way for customers to switch to greener mobility. With its digital loan process, flexible tenures, and competitive interest rates, the bank is supporting the growth of the electric two-wheeler market in India. As the demand for electric two-wheelers continues to rise, IDFC FIRST Bank’s loan solutions are likely to play a significant role in enabling customers to make the transition to more environmentally friendly modes of transportation.