Electric Vehicles

Hero Electric & SBI to offer easy finance for electric scooters

Written by Nayak

Hero Electric announces its partnership with SBI. As part of this collaboration, customers will benefit from a range of financial solutions when buying a Hero Electric product. Hero Electric mentioned that customers could avail themselves of attractive interest rates in availing loans. EMIs for these loans start from a value as low as INR 251 per INR 10,000 for a tenure of 4 years.

Furthermore, to encourage EV adoption, customers will get an additional INR 2,000 off on payments made through YONO. This is SBI’s digital banking platform that has a host of features. To facilitate a seamless buying experience, SBI will also offer a fully digital and paperless two-wheeler loan with a click and minimum documentation. Customers can avail of this financial offer across Hero Electric 750+ touchpoints.

Demand For EVs Growing Strong

With the introduction of initiatives like these, the demand will get a significant push. Sbi’s collaboration with Hero Electric is a great step towards the country’s green mobility revolution by making EVs affordable. This association will empower customers to choose their financing solution with convenience. Hero Electric being India’s largest EV maker and Sbi being India’s largest bank, will pair up perfectly to make this initiative an immense success.

Hero Electric’s Plans For The Future

For 2021, Hero Electric triumphed by clinching the best-selling EV company in the country. And one of the main reasons that helps Hero win this title is its wide network. As of now, the EV maker has a total of 750+ sales and service outlets across the country, with more getting added at a rapid pace. In the last 14 years, Hero Electric has grown and currently stands at over 4.5 lakh EVs on the Indian roads. Furthermore, with the shift towards electricity being a top priority, the numbers will only grow from here. Hero Electric is a major player and will play a crucial role in shaping the EV ecosystem of the country.

Also Read: Hero Electric & ReadyAssist will help 20,000 mechanics in EV service skill development.