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2021 proved to be a phenomenal year in electric two-wheeler sales with a 132% increase since 2020. Understandably, there are more reasons to want to switch to electric bikes than just saving the planet.
Electric two-wheelers are the future of personal transport. They are convenient and offer low running costs, help avert the pocket burn from rising petrol prices, and more and more players are entering the market to offer better electric two-wheeler options at attractive prices.
Any individual who wants to purchase an electric 2-wheeler but is low on savings, still can. They can apply for a TVS Credit electric two-wheeler loan and ride their dream.
Features and Benefits of taking an electric bike loan from TVS Credit include:
Available on 100% road price
TVS Credit provides loans on the complete on-road price of the electric two wheeler. It is advised that applications inquire and read the terms & conditions when applying for the loan.
Attractive interest rates
TVS Credit is focused on providing the best benefits to all customers, which includes attractive rates of interest on electric bike loans availed.
Simple documentation
Documentation process is simple and convenient. When applying for a loan for an electric two-wheeler, applicants are requested to provide simple KYC (Know Your Customer) documents along with the application form.
Easy approval
TVS Credit provides spot approval for all loans on electric two-wheelers.
Repayment tenure
Aligned with TVS Credit’s aim to provide optimal comfort and convenience to customers, the repayment tenure on electric two-wheeler loans can vary from 12 months to 48 months.
No hidden costs or caveats
TVS Credit is a reputed organization and affords every customer transparency.
Eligibility
It is true that every aspiring owner of an electric two-wheeler can apply for a loan. But before they do so, it is advised that they review the documents they are required to furnish. This is because they may vary slightly from person to person.
Documentation
Salaried or Self-Employed
- Age, address, ID and signature proof
- Income document (salary slip/form 16/ITR with computation of income)
- Bank statement
Proprietorship and/or Partnership Firm
- Age, address, ID and signature proof
- Income document (salary slip/form 16/ITR with computation of income)
- Bank statement
- Partnership deed with declaration for partnership firm
Private and/or Public Limited Companies
- Age, address, ID and signature proof
- Income document (salary slip/form 16/ITR with computation of income)
- Bank statement
- MOA/AOA with board resolution for private/public ltd. firm
Electric two wheeler price varies from brand to brand. New owners can choose the model that best suits their needs and apply for a loan to purchase it. Over the course of the repayment tenure, owners will be expected to return the loan via mutually agreed EMIs. It is also advised, as is with owning any kind of vehicle, that owners insure the battery to provide coverage against unprecedented incidents.
One of the simplest ways of owning an Electric Two wheeler is by applying for a loan with TVS Credit. Own TVS iQube – a smart, connected commuting experience with a quick two-wheeler loan by clicking here.
