If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
  • Car Loan BYTES FROM OUR KITCHEN

    Electric Cars in India

    Electric cars are the next big thing in the world. If you have been wanting to get a car that is eco-friendly, efficient, and powerful, you should most certainly go for an electric car. Currently, in India, there are a few automobiles that run on electricity. There are many more cars that will soon be launched by the year 2020. You can choose from any of them to have a smooth and environment-friendly driving time. When you use an electric car for all your commuting and travelling needs, you make a great contribution to preserving the environment effectively.

    The government of India intends to make sure that only electric automobiles are sold in India by the year 2030. In order to achieve this plan, all automobile companies will need to make a lot of changes and bring in new measures for ensuring that only electric cars are driven on the roads of the country.

    How Does an Electric Car Work?

    An electric car run on an electric motor and not on a petrol or diesel engine like other cars. In an electric automobile, the electric motor obtains energy from a controller and this administers the power that is used for driving the car. This will be determined according to the accelerator pedal utilised by the driver of the automobile.

    In an electric vehicle, the energy is deposited and stockpiled in the rechargeable batteries that are located inside the car. These batteries need to be recharged on a regular basis by ordinary electricity in a household. When a normal automobile or a hybrid car is used, it utilises fuel such as petrol or diesel for the engine. Along with the fuel, it makes use of a motor and a battery that help in enhancing the performance and efficiency of the automobile. On the other hand, an electric vehicle uses only electricity for running the whole show.

    Advantages of Electric Cars

    When cars run exclusively on electricity, there are a number of benefits and they include:

    • They help in slowly eliminating our reliance on oils or fuels that are obtained from the earth. This is a great way to save the environment.
    • When electric cars are used entirely, there will be no emissions that are let out by exhaust pipes of normal motor cars.
    • An electric car is more efficient than a normal motor car. You can get an electric car charged within just a few hours and use it for a long duration. You can get it charged in your house or your office parking area. If you have an ordinary motor automobile, you will need to take it to a petrol pump to fill petrol or diesel in your car and this fuel can be used only for a few days.
    • When you use an electric car, you contribute towards reducing the carbon footprint effectively. This is a great step towards conserving our environment.
    • It also helps in minimising your fuel expenses. You will end up paying a lot for filling petrol or diesel when you have a normal motor car. With an electric car, you will be paying very less for running the car.
    • Electric cars do not need much maintenance. They can function efficiently without regular emission checks, oil changes, fuel checks, etc.
    • Electric cars utilise dirty electricity. Dirty electricity is formed by electronic appliances, electronics, and devices that use energy-efficient electricity. However, these emissions made by electric cars are much lesser when compared to emissions made by normal internal combustion automobiles.

    Top Electric Car Models in India

    You can take a look at the specific features and benefits of some of the best electric automobiles that are sold in India and then take your pick!

    1. Mahindra e-Verito

    This electric vehicle has been quite popular on Indian roads for some time. With a displacement of 300 cc and an engine type of 72V 3-Phase AC Induction Motor, it offers a good mileage of 110.00 kmpl. It comes with 2 cylinders and a front-wheel drive (FWD) train. It has an automatic transmission system with an electro-hydraulic power steering system. The front suspension of this car is a Macpherson Type with wishbone link and the rear suspension is an H-section torsion beam with a programmed deflection coil spring. This car has alloy wheels and a tubeless tyre system. This vehicle has a ground clearance of 172mm and a boot space of 510 L. You can enjoy a seating capacity of 5 in this environment-friendly car! You will get a digital immobiliser and an engine immobiliser with this automobile. You can also enjoy advanced features such as a remote lock and keyless entry and a central locking system with this car. This car comes with eco or boost-drive modes. The bumpers of this car will have the colour of the car’s body. The price for this car starts at Rs.10.39 lakh and your EMIs for this automobile will start at Rs.19,547.

    2. Mahindra e2oPlus

    This electric vehicle has 2 variants and they include electric engine - 25 BHP and an electric engine - 40 BHP. The engine type of this vehicle is 3-Phase, 600 Amp, and AC induction motor. The maximum speed of this vehicle is 80. It is an automatically driven vehicle and it has a rear-wheel drive (RWD) train. The clutch type of this vehicle is automatic. It has a seating capacity of 4 and a boot space of 135 L. It has a ground clearance of 170mm with tubeless tyres and alloy wheels. The on-road price for this eco-friendly vehicle starts at Rs.5.94 lakh. If you apply for an auto loan to buy this vehicle, your EMI will start at Rs.11,541 per month. It has a displacement of 210 cc. It comes with security features such as power door lock, central locking system, engine immobiliser, and a power door lock. You can also enjoy an adjustable power steering system with this car. The mileage of this car is 110.00 kmpl.

    Apart from the 2 electric vehicles that are already popular in the country, there are a whole lot of electric vehicles that are soon going to be launched in India. You will most probably see the following electric vehicles in Indian markets very soon:

    • Mahindra KUV100 Electric
    • Tata Tigor
    • Tata Nano EV
    • BMW i3
    • Tesla Model 3
    • Nissan Leaf

    Along with these cars that are yet to be released in India, Maruti and Renault are planning to manufacture a few electric cars in their factories in India.

    If you are short of funds due to other expenses and want to badly purchase an electric car, you can apply for an affordable car loan online. You can compare auto loans on financial web portals or the official websites of banks and NBFCs and select one according to your preference and financial condition. You will need to have a good credit score while applying for a car loan.

    Car Loan Reviews

    • ICICI Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been holding my car loan with ICICI bank for long time, they have given me sufficient loan amount, and they have charged me nominal rate of interest in this loan , they have charged me up to 8.85% .And they have charged processing fee in this loan ,they have charged me up to 2000 rupees, overall experience was too good in this bank.Still the loan is running.
      Was this review helpful? 1
      , new delhi
      Reviewed on Jan 22, 2019
    • SBI Car Loan
      "Car loan with lowest interest rate and easy repayment"
      0.5 5.0/5 "Blown Away!"
      I have bought my car loan from State bank of India. I have done the pre-closure and they have not charged anything extra money for that. I have got the loan in the year of 2018. They have provided me a car loan with the percentage of 9.25% and the documentation process was very easy.
      Was this review helpful? 0
      , thiruvananthapuram
      Reviewed on Jan 22, 2019
    • HDFC Bank Car Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      The process in getting this Car loan was quite good and the loan amount which they had provided has been sufficient as well. The interest rate with them has been nominal when compared with the market rate and the charges which they had made has also been nominal as well. Their customer support team had also been helpful as well.
      Was this review helpful? 0
      , guwahati
      Reviewed on Jan 22, 2019
    • Bank Bazaar Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have recently started using the services of Bank Bazaar to get my Car loan, and the process was simple. I came across their services while i was going through the internet and i had downloaded their mobile application which has a very good user interface. Their customer support team had also been responsive and was helpful at times.
      Was this review helpful? 0
      , goa
      Reviewed on Jan 22, 2019
    • HDFC Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had chosen my Car loan from them since i was holding my Salary account from them. The process in getting this loan has been simple and the documentation was also simple. The loan amount has been sufficient and they had charged with an interest rate of 9.5% which is nominal with the market rate. The processing fee with this loan has also been nominal.
      Was this review helpful? 0
      , goa
      Reviewed on Jan 22, 2019
    • Capital First Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The experience with my Car loan from them was quite good where the process has been simple. The loan amount has been sufficient and the interest rate with them has been nominal when compared with the market rate. There has not been any sort of charges which they had been making and the processing fee was nominal. Their customer support team had also been helpful as well.
      Was this review helpful? 0
      , bhubaneshwar
      Reviewed on Jan 22, 2019
    • Bank Bazaar Car Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      The experience i had with Bank Bazaar has been quite good and it was nice. They had been helpful for getting Personal loam, Home loans, Car loans and i had been using the mobile application of them which has been convenient in using. I had come to know about the services of them through advertisements and through my friends.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 22, 2019
    • ICICI Bank Car Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      The process in getting loan was quite easy and smooth where it was not lengthy and they had collected the documents at the doorsteps. The loan amount which they had provided has been sufficient and the interest rate with them has been less when compared with the other banks. The charges which they had made has been nominal as well. Their customer support has also been responsive and was helpful.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 22, 2019
    • Bank Bazaar Car Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      It has been a good experience with Bank Bazaar while i was getting Car loan through them, i had been using the services of them for the last six months. I came to know about them through internet and i had used their website which has been convenient as well. Their customer support has also been responsive and has been helpful.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jan 21, 2019
    • HDFC Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The process was easy in getting the car loan from them and the loan amount was sufficient as well. The interest rate with them was nominal when compared with the market rate and the charges which they had made where also nominal. Their customer support also was helpful and i had not faced any issues.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jan 21, 2019
    • Bank Bazaar Car Loan
      "24/7 available bank service"
      0.5 5.0/5 "Blown Away!"
      To approach the bank for my car loan is very difficult for me. I have done the documentation through online. I got the car loan with the minimum effort because with the help of bankbazaar. I was searching the various products like mutual funds, loan and i have been checking the bankbazaar website for all kind of financial product. I go through this website for any kind of investment plan.
      Was this review helpful? 0
      , thiruvananthapuram
      Reviewed on Jan 21, 2019
    • HDFC Bank Car Loan
      "Easy and affordable car loan"
      0.5 5.0/5 "Blown Away!"
      It was available with the car loan with the minimum documentation hence i have selected the HDFC bank for my car loan. I have got the interest rate of 9.5% and I'm satisfied with the. At the amount of Rs. 2500 they have charged as a processing fee. They have sanctioned the loan time.
      Was this review helpful? 0
      , thiruvananthapuram
      Reviewed on Jan 21, 2019
    • Bank Bazaar Car Loan
      "Its Excellent"
      0.5 4.5/5 "Excellent!"
      I just explored about the car loan offers through Bank Bazaar. I got best deal from ICICI bank, then I selected that option. Bank Bazaar executive called me connected with the bank on time without any hassles or without approaching anyone i had received the loan on time.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 21, 2019
    • Bank Bazaar Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I am using the services of Bank Bazaar for the last three years and whenever i go in Google to check any financial products where i had come to know about the services of Bank Bazaar. The process in getting my car loan through them was very simple and everything was done online. Their customer support has also been responsive and had a good communication.
      Was this review helpful? 0
      , gorakhpur
      Reviewed on Jan 21, 2019
    • HDFC Bank Car Loan
      "Excellent Service"
      0.5 4.0/5 "Great!"
      I had chosen to go with them since it would be easy in getting a loan through them. The process had went well and the loan amount which they had provided has been sufficient as well. The interest rate with them has been nominal when compared with the market rate. The charges which they had made has also not been high.
      Was this review helpful? 0
      , gorakhpur
      Reviewed on Jan 21, 2019
    • Bank Bazaar Car Loan
      "Its Customer friendly"
      0.5 5.0/5 "Blown Away!"
      One place to find all the financial banking offers and also I would say its easy to identify the best product. More over the site is nice to upload the documents for the loan products rather approaching the bank. Its a time saving website, the response is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 21, 2019
    • HDFC Bank Car Loan
      "Recommendable car loan"
      0.5 4.0/5 "Great!"
      My salary account belongs to HDFC bank, hence I thought go with the same bank for the car loan. I hope the interest rate is less for me and also paper work became very easy. Even my car loan got sanctioned within 3 to 4 days then I have purchased Tata Tiago car.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 21, 2019
    • Bank Bazaar Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The experience with Bank Bazaar has been quite good and i had started using the services of them for the last couple of months. Everything has been done online which was easy and convenient. I had used their mobile application which has a very good user interface. Their customer support has also been responsive and was helpful.
      Was this review helpful? 0
      , aurangabad
      Reviewed on Jan 21, 2019
    • HDFC Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The process in getting this loan was quite simple and easy and the loan amount which they had provided has also been sufficient as well. I had chosen to go with them since the charges where very less with them as well as the interest rate which they where offering has been less when compared with the market rate which was around 9.2%. The customer support team of them has also been helpful at times.
      Was this review helpful? 0
      , aurangabad
      Reviewed on Jan 21, 2019
    • Bank Bazaar Car Loan
      "Good website"
      0.5 4.0/5 "Great!"
      Bankbazaar is good website and the overall process was easy. One of my friend has suggested me about the bankbazaar website. This is my first experience with bankbazaar. I have checked my credit score through bankbazaar website recently.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 21, 2019
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