Faqs - L&T Finance

Topics

What is an electric bike Two Wheeler Loan?

An electric bike Two Wheeler Loan is a financial product designed to help you purchase an electric bike or scooter by providing the necessary funds upfront.

Who is eligible for an electric bike Two Wheeler Loan?

Eligibility for an electric bike Two Wheeler Loan generally requires the applicant to be between 21 and 65, have a stable income and possess a good credit score.

What documents are required to apply for an electric bike Two Wheeler Loan?

The documents required for electric bike Two Wheeler Loans include Pan card, Adhaar Card, Current address proof, Bank statement (Optional. Based on loan requirement).

How much can I borrow with a Two Wheeler Loan for an electric bike?

You can borrow up to 100% of the on-road price of the electric bike or scooter, depending on the loan terms and your eligibility. The exact loan amount depends on factors such as the vehicle's cost, your income, credit score and the loan policies.

What is the typical interest rate for an electric bike Two Wheeler Loan?

The typical interest rate for an electric bike Two Wheeler Loan ranges from 8.65%* to 12.50%* per annum, depending on your credit profile and the loan amount.

What is the repayment tenure for an electric bike Two Wheeler Loan?

The repayment tenure for an electric bike Two Wheeler Loan ranges for up to 5 years.

Can I get an electric bike Two Wheeler Loan with a low credit score?

While having a good credit score improves your chances of getting a loan at favourable terms, you may still get electric bike Two Wheeler Loans with lower credit scores. Contact our customer care executive for more details.

Is there a processing fee for an electric bike Two Wheeler Loan?

Yes, there is a processing fee of up to 6% of the loan amount.

Can I prepay my electric bike Two Wheeler Loan?

Yes, you can partly prepay your electric bike Two Wheeler Loan, but prepayment charges may apply. These charges are up to 5% of prepaid amount + applicable taxes.

What is the difference between a secured and unsecured EV Bike Loan?

A secured EV Bike Loan requires you to provide collateral, typically the vehicle. An unsecured Electric Bike Loan does not require collateral, but it may come with higher interest rates due to the increased risk.

Need Further Assistance?

Chat instantly with us or request a call.

faq chat

Chat with us

24x7
faq call

Talk to us

9.00 AM - 6.00 PM