Two Wheeler Loan
Super Bike Loan
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Electric Two Wheeler Loan
Apply for an EV Bike Loan from L&T Finance with attractive interest rates, 5 year flexible repayment tenure, and a fully secure digital application process.
Looking to purchase an electric bike or scooter? With our Electric Bike Loan, you can purchase the electric bike you need. We offer affordable and flexible Electric Two Wheeler Loans designed for easy ownership of your EV bike or scooter. Enjoy competitive interest rates starting at just 8.5%* per annum, with flexible repayment options up to 60 months. Our electric Two Wheeler Loan ensures quick approval within 24 hours and hassle-free disbursal, minimal documentation, and hassle-free disbursal directly to your dealership.
Electric Bike Two Wheeler Loan EMI Calculator
Avail Electric Bike Two Wheeler Loan at Attractive Interest Rates
Preferred loan amount
₹
₹50,000
₹20,00,000
Interest rate (per annum)
%
8.5%
23%
Loan tenure (months)
12 months
60 months
Estimated EMI
per month- ₹ 36,690
Interest payable
₹52,41, 690
How to Apply for an Electric Bike Two Wheeler Loan in Just 5 Simple Steps
Follow these 5 easy steps to apply for your Electric Bike Two Wheeler Loan:
1. Apply online in just few minutes
Click on the "Apply Now" button within the Two Wheeler Loan section and fill out the form with your personal details and loan requirements
2. Get assistance from our representative
Our loan representative will contact you, and share all the available loan offers with dealership details, nearest to your location
3. Eligibility and document verification
Visit the dealership, where our representative will check your eligibility and documents to proceed with your loan
4. Drive your Two-Wheeler home
After approval, your loan amount will be directly disbursed to the dealership for a seamless purchase process
Eligibility & Documents
Eligibility Criteria Required for Electric Two Wheeler Loan
Residency:
Indian resident
Age requirement:
21 years to 65 years
Profession:
Salaried or self-employed individuals
Documents Required for Electric Two-wheeler Loan
Photo ID Proof
PAN and any one of the following- Aadhaar Card | Driving License | Passport | Voter ID | Job card by NREGA | Letter issued by the National Population Register containing details of name and address
Address Proof
Utility bills (not older than 2 months) | Aadhaar Card | Driving License | Passport | Voter ID etc
Income Proof
Bank statement (Optional. Based on loan requirement)
Electric Bike Two Wheeler Fees and Charges
List of all fees and charges for Two Wheeler Loan
Processing Fees:
Regular and Royal Enfield- Up to 3% of the loan amount or Rs. 7,500/- whichever is lower + applicable taxes.
Superbikes- Up to 3% of the loan amount or Rs. 12,000/- whichever is lower + applicable taxes.
Trade Advance – Up to 2% of the Sanction amount + applicable taxes.Documentation & Repayment Setup Fee
Up to Rs. 1,750/- + applicable taxes
Facilitation Fee*
*A facilitation fee is levied on the customer to cover the company’s costs related to facilitating the transaction of purchase between the borrower and the vendor. It is based on acquisition expenses typically incurred at the vendor's physical location, including manpower and other services.Up to 2.5% of loan amount + applicable taxes
Penal / Late Payment Charge (LPC)
Up to 2% per month (p.m.) on overdue EMI + applicable taxes
Trade advance - Up to 2% per month (p.m.) on overdue amount + applicable taxesEMI Dishonour/Bounce Charge*
*A bounce charge is a charge for
(i) dishonour of any repayment instrument; or
(ii) non-payment of instalment(s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandateAs shown in the table below
Loan sanction amount (in INR)
Charges in (in INR)
< 5 lacs
₹ 500
5 – 50 Lacs
₹ 1000
>50 Lacs – 2 Cr
₹ 1500
>2 Cr
₹ 2000
Foreclosure Charges
Up to 5% of principal outstanding + applicable taxes
Repayment Instrument Swap Charge (per swap)
Up to Rs. 500/- + applicable taxes (applicable only for branch walk-ins)
Document retrieval / Duplicate NOC charges
Duplicate NOC: Up to Rs. 500/- + applicable taxes (Charge is applicable post 3 free copies)
Loan Cancellation Fee
Up to Rs. 2,000/- + applicable taxes
Legal Fees & Charges
As per actuals or Up to Rs. 30,000/- whichever is lower + applicable taxes
Recovery Charges
As per actuals or Up to Rs. 15,000/- whichever is lower + applicable taxes
Auction Fees
Up to 1% of auction sale amount + applicable taxes
RC Non-Submission Charge
Up to Rs. 1,000/- per month post 120 days + applicable taxes
Field Collection Service Charge
Up to Rs. 500/- per collection + applicable taxes
Seamless Loans, Simplified Experience
Download the Planet app for a one stop loan and insurance solution with effortless management at your fingertips. Learn More
Electric Bike Loan Down Payment and EMI Options
- Typical Down Payment Range: Most electric bike loans require a down payment of 10% to 25% of the bike’s on-road price. Some lenders, including L&T Finance, may offer low or zero down payment options for eligible customers.
- Flexible EMI Plans: EMI (Equated Monthly Instalment) amounts depend on the loan amount, tenure, and interest rate.
- EMI Calculation: You can easily estimate your monthly payments using an online EMI calculator, just enter the loan amount, interest rate, and tenure to plan your budget efficiently.
- Benefit: Helps manage finances smartly while promoting eco-friendly mobility.
Government Incentives and Subsidies on Electric Two Wheeler Loans
Here are key government incentives and subsidies relevant to EV loans (including references to the FAME India Phase II scheme):
- Under FAME India Phase II, incentives were provided to buyers of eligible EVs, for example, e-2Ws, e-3Ws and e-4Ws, reducing up-front cost.
- For e-2Ws, subsidies were linked to battery capacity (₹ 15,000 per kWh) with a cap ranging up to 40 % of vehicle cost under FAME II.
- The scheme also supported charging infrastructure rollout (public charging stations) which enhances the EV ecosystem and indirectly supports EV loans.
- In many cases the subsidy is passed on at the point of sale (via reduced invoice price) rather than separate claim forms, making the electric two-wheeler purchase more affordable.
- These incentives make EV loans more attractive because the lower purchase price means you borrow less (or your loan covers a smaller amount) and potentially lower EMI burden , which is a strong benefit when sourcing a loan for an electric two-wheeler.
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