Small Business Loan
An electric two-wheeler loan is a financing product that helps you purchase an electric bike or scooter by spreading the cost into manageable monthly EMIs over a fixed tenure. Instead of paying the full on-road price upfront, you put down a down payment (or none at all, depending on your eligibility) and repay the rest over time.
Tata Capital's EV bike loan covers a wide range of popular EV brands, including Ola, Ather, River, Bgauss, Kinetic Watts, Hero, Honda, TVS, Bajaj, Royal Enfield and Yamaha, so you can choose the vehicle that works for you and let us handle the financing. Beyond the financial convenience, choosing an electric vehicle is also a step towards lower fuel costs and a smaller carbon footprint, and your electric scooter loan makes that transition easier from day one.
Here's what you get when you apply for a Tata Capital EV bike loan:
If you've been on the fence about switching to an EV, here are a few reasons why an electric two-wheeler loan might be one of the better financial decisions you make this year:
1. Lower running costs: Charging an electric scooter or bike costs a fraction of what you'd spend on petrol, which adds up to real savings over time.
2. Reduced maintenance: EVs have fewer moving parts than petrol-powered ones, which means fewer visits to the service centre and lower maintenance bills.
3. Government incentives: Central and state government schemes actively subsidise electric vehicle purchases, bringing the effective cost of your EV down further.
4. Eco-friendly commuting: Switching to an electric scooter loan-financed vehicle means lower emissions on every ride, contributing to cleaner air in your city.
The interest rate on your electric two-wheeler loan depends on a few key factors: your CIBIL score (applicants with a score of 750 and above typically qualify for the best rates), the loan amount, your chosen tenure, and the vehicle model. Tata Capital offers a small rate concession specifically for EV purchases as part of its support for sustainable mobility.
All figures below are indicative.
| Fee / Charge | Details |
|---|---|
| Interest Rate | Starting from 12.5% p.a. (indicative) |
| Processing Fee | Up to 4% of the loan amount + applicable GST |
| Prepayment / Foreclosure | As per Tata Capital's prevailing policy
5% of the part-pre-payment amount/principal outstanding at the time of part-pre-payment/foreclosure |
| Penal Charges | Applicable on delayed EMI payments |
The electric two-wheeler loan interest rate shown above is indicative and subject to change. Your actual rate will be confirmed at the time of loan sanction.
To apply for a Tata Capital electric two-wheeler loan, you'll generally need to meet the following criteria:
Age: Between Age 18 to 21 years with co-applicant and between Age 21 to 60 years at the time of maturity.
Residency: Indian resident or citizen.
Employment type: Salaried or self-employed individuals are both eligible.
Minimum income: As per Tata Capital's current criteria, based on employment type and loan amount.
Employment or business stability: Consistent employment history or a running business with a track record.
CIBIL score: 750 and above puts you in the best-rate bracket.
Before you begin your EV bike loan application, keep these documents ready to speed up the process:
1. KYC documents: Aadhaar and PAN card
2. Address proof: Utility bill, rental agreement, or any government-issued address document
3. Income Proof and Bank Statements may be required in some cases.
4. Passport-sized photographs
5. Vehicle quotation or pro forma invoice: From the dealer, confirming the on-road price of your chosen electric bike loan vehicle
Applying for a Tata Capital electric two-wheeler loan is a quick, fully digital process. Here's how it works:
1. Click Apply Now or Check Eligibility: Start with the eligibility check on this page to understand what you qualify for before you formally apply.
2. Fill in your application: Enter your personal, employment, and vehicle details. The online form is straightforward and takes just a few minutes to complete.
3. Upload your documents: Submit your KYC, income proof, address proof, and vehicle quotation digitally. There's no need to submit physical copies.
4. Application review and approval: Tata Capital reviews your EV bike loan application and provides a decision promptly.
5. Disbursal to the dealer: Once approved, the loan amount is transferred directly to your EV dealer so you can take your vehicle home without delay.
Before you finalise your loan amount and tenure, use the EMI calculator below to see exactly what your monthly repayment will look like. Enter your loan amount, indicative interest rate, and preferred tenure to get your estimated electric bike loan EMI in seconds.
Once you've found the right combination, you can apply for your electric two-wheeler loan directly from this page.
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Buying an electric two-wheeler in India comes with some meaningful financial support from the government that you should factor into your purchase decision. Under the FAME-II scheme, buyers of eligible electric two-wheelers receive an upfront subsidy that reduces the effective on-road price of the vehicle. In addition to this, several state governments have their own EV subsidy programmes covering road tax waivers, registration fee exemptions, and direct purchase incentives that vary by state.
These incentives, combined with Tata Capital's competitive electric two-wheeler loan rates, can make owning an EV considerably more affordable than it might initially appear.
Up to 100% On-Road Funding: You may be able to finance the entire on-road cost of your vehicle, depending on your eligibility, with zero down payment included.
Quick Digital Process: The entire application happens online, so you can go from applying to riding without unnecessary delays or paperwork.
Flexible Tenure: With repayment terms ranging from 12 to 48 months, you can structure your EV bike loan around your income and lifestyle.
Transparent Charges: There are no hidden fees. Every charge is disclosed upfront so you can make an informed decision.
Dedicated Support: Whether you have questions during the application process or after disbursal, Tata Capital's team is available to assist you.
Online Account Management: Once your electric two-wheeler loan is active, you can track your balance, download statements, and manage repayments entirely through Tata Capital's digital platform.
To qualify for a Tata Capital EV bike loan, you should typically be between 21 and 58 years of age, be an Indian resident, and be either salaried or self-employed with a stable income. A CIBIL score of 700 or above is generally required, with 750 and above qualifying for the best rates.