comscore Hero Electric partners with new NBFC to provide EV buyers with financing options
News

Hero Electric partners with new NBFC to provide EV buyers with financing options

Hero Electric, in a statement, claimed that the financing option will be provided with minimum documentation on their desired electric scooter

Hero Electric

Hero Electric was named the most popular EV brand for October


Hero Electric on Wednesday said it has tied up with HDB Financial Services, a non-banking financial company (NBFC), to offer financing options for the purchase of electric scooters. The collaboration will provide buyers with loans. Also Read - This Indian EV company plans to open over 500 dealerships by end of FY22

Hero Electric, in a statement, claimed that the financing option will be provided with minimum documentation on their desired electric scooter. The financing option will be available to Hero Electric customers across its network of over 700 dealerships in the country. Also Read - Hero Electric partners with Mahindra to build over 10 lakh EVs a year

Furthermore, HDB will offer eligible customers benefits like relatively low-interest rates, flexible tenure options, and more EMI options as part of the tie-up. Also Read - This new Indian electric bike has a range of 110 km and top speed of 85kmph: View pics

“Electric two-wheelers will become the vehicles for masses in the future, and easy financing is one of the essential cogs in the wheel. We at Hero have a basket of financers, offering a wide choice of ownership options to suit one’s requirements,” Hero Electric CEO Sohinder Gill said in a statement.

“We are confident that this collaboration will help our customers to substantially save on their commuting costs without having to spend upfront,” Gill stated.

HDB Financial Services Chief Business Officer Karthik Srinivasan claimed that the NBFC will offer easy financing options for Hero Electric EV buyers across the country.

In order to boost financing options, Govt (Niti Aayog) has also proposed RBI to include loans for electric vehicles under Priority Sector Lending (PSL) segment. Currently, the loans are classified under the auto retail category. If RBI classifies loans for EVs under the PSL segment, it will help in easy financing as well as more attractive interest rates.

For the latest tech news across the world, latest PC and Mobile games, tips & tricks, top-notch gadget reviews of most exciting releases follow BGR India’s Facebook, Twitter, subscribe our YouTube Channel. Also follow us on  Facebook Messenger for latest updates.
  • Published Date: December 22, 2021 6:24 PM IST
  • Updated Date: December 22, 2021 6:26 PM IST



new arrivals in india

Best Sellers