Electric two-wheeler manufacturer Ather Energy has partnered State Bank of India to provide customers with vehicle financing. As part of the association Ather Energy customers will get instant loans at interest rates as low as 9.55 percent per annum. Pre-approved loans will also be administered, depending on the buyer’s creditworthiness. SBI will offer the vehicle loans on their YONO mobile application as well as at their branch network, as the public sector lender ensures ease of adoption for the buyers.
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With this collaboration, the original equipment manufacturer (OEM) aims to accelerate the growth of the electric vehicle (EV) ecosystem in the country. The customers, depending on their profiles, will be eligible to avail loans up to 85 percent of the on-road prices of the electric two-wheelers. The approved loan amount will be credited directly to the dealer’s account. Customers can avail the loan through YONO at an EMI of as low as Rs 251 per Rs 10,000 under SBI Easy Ride loan.
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