These banks are giving cheap loans to buy EVs, can easily take electric vehicles…

 There are some banks offering great loans on the purchase of an electric vehicle so that you can easily buy an EV. petrol-diesel Price is increasing rapidly. In such a situation, now the trend of people is moving toward EVs. Many people are now considering switching from their petrol or diesel cars to electric vehicles. The reason for this is that it costs less to run an electric vehicle than diesel-petrol vehicles. At the same time, the biggest thing is that the prices of EVs are very high, but now this problem can also be solved.

Benefits of buying an EV

Actually, the Income Tax Department has given the definition of an electric vehicle. According to the department, an “electric vehicle” is a vehicle that is driven exclusively by an electric motor whose traction energy is supplied by a specially installed traction battery in the vehicle. There are many banks for such electric vehicles at attractive rates. Giving loans.


These banks are giving loans to SBI, the largest public sector bank that had launched the first green car loan in the country to encourage electric vehicle purchases. In this, the interest rate is 20 basis points less than the rate of the existing vehicle loan scheme. According to SBI's website, 90 percent to 100 percent of the on-road price will be available on select models. Green car loan interest rates range from 7.05 percent to 7.75%.

Union bank, Axis bank is giving loans up to 85 percent of the road price of the electric vehicle to the salaried person and customers running a private business. You can take a loan of up to Rs 10 lakh to buy a new electric 2-wheeler, while there is no limit on the car. You can repay the loan for a new electric 4-wheeler in 84 months, while the range for a new electric 2-wheeler ranges from 36 months to 60 months.

According to the information, Permanent Residents of india or Non-Resident indians (NRIs) can take the loan. Apart from this, the minimum age should be 18 years and maximum 75 years. Individuals who have a regular source of income even after 60 years of age. There is a maximum limit of 3 applicants. The special thing is that you can save a tax of 1.5 lakh on the purchase of an EV.

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D N INDUJAA

09/04/2022 06:00 PM