EV Loan - Electric Bike Loan

Electric vehicles are becoming increasingly popular in India and the world because of their low emissions which make them an environment-friendly option. This environmentally friendly form of travel is also beneficial from a sound pollution perspective, as electric vehicles rarely make any noise while in motion. Electric bikes in particular are extremely popular today, due to rising fuel prices and easy access to electric charging stations in and around cities and towns in India. With HDFC Bank electric vehicle loans you too can easily own your own electric two wheeler.

How can you check your eligibility for electric two-wheeler loan?

Electric two-wheeler loan eligibility is dependent on various factors, such as your age, income, type of employment etc. These loans are typically issued to people who fulfil the following conditions among others:

• They are either Salaried Professionals, Self-Employed Professionals, owners of Sole-Trading Proprietorships and employees or owners at Partnership Firms and Private Limited Companies and Public Sector firms.
• Have an income/annual turnover of at the very least ₹3,00,000 per annum.
• They are between the age bracket of 21 at the start of and 60( for salaried) or 65 (for business owners) at the time of completion of the loan.
• They have a telephone/post-paid mobile phone through which they can be reached.
• For business owners, they should have been in business for a minimum of two years before applying.

​​​​​​​​​​​​​​Enclosed below are HDFC Bank Two Wheeler Loan Interest Rates & Charges

Charges to avail a Two Wheeler Loan
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The documents required by Salaried Individuals and Self-Employed Individuals (Sole Proprietorship) are:

For identity proof, any of the following:

• Permanent Driving license (which is relatively recent, legible and not laminated)

• Valid Passport

• Voters ID Card

• Job card issued by NREGA

• Letter issued by the National Population Register containing details of name & address

• Aadhaar Card(backed by Aadhaar consent Letter)

For proof of income:

• Latest salary slip and Form 16

• Bank statement of the previous 6 months

For Self Employed Individuals (Partnership Firms, Private Limited Companies, Public Limited Companies):

1. All the following documents must be submitted as income proof:

• Your Audited Balance Sheet

• Profit & Loss Account of the previous 2 years

• Company ITR for the previous 2 years

2. Any of the following documents as address proof:

• Telephone Bill

• Electricity Bill

• Shop & Establishment Act Certificate

• SSI Registered Certificate

• Sales Tax Certificate

3. Bank statement of the previous 6 months