Finance your electric car easily with low-interest EV loans, quick online approvals, tax deductions under Section 80EEB, and exclusive benefits that make your green journey affordable and rewarding.
Category | Rack Interest |
HDFC Bank | 9.20% p.a. onwards |
State Bank of India | 9.05% p.a. onwards |
ICICI Bank | 9.10% p.a. onwards |
Union Bank of India | 8.70% p.a. onwards |
Punjab National Bank | 8.75% p.a. onwards |
Bank of Maharashtra | 8.45% p.a. onwards |
The eligibility criteria that must be met in order to avail an electric car loan will vary from bank to bank. The basic eligibility criteria that must be met are mentioned below:
The list of documents that must be submitted are mentioned below:Public Limited Company Director Applicants
Public Limited Company Owning Applicants
Partnership Firm Partner Applicants
Sole Proprietor Applicants
Salaried Applicants
The main features and benefits of the electric car loan are mentioned below:
Under Section 80EEB, tax benefits can be availed if you avail a car loan for an electric vehicle. Up to Rs.1.5 lakh on the interest that is paid can be availed. However, the car loan must be in the name of the business or individual and the car must be used for business or personal purposes.
Yes, you can apply for an Electric Car Loan online.
The maximum repayment tenure of the electric car loan may be up to 8 years.
Yes, you can visit the nearest bank branch and apply for an electric car loan.
Yes, the interest rate will be fixed throughout the tenure of the electric car loan.
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