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.
With this collaboration, the 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.
Ravneet Pholeka, Chief Business Officer, Ather Energy said, “We understand that financing plays a critical role in the auto sector, and are confident that our partnership with SBI will ensure ease of purchase for customers and attract more people to join the EV revolution.”
Saloni Narayan, Dy. MD – Retail Business, SBI added, “This initiative is a step further towards offering digital two-wheeler loans to customers through a paperless process at the convenience of their place and time of choice. 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. We believe SBI Easy Ride loan scheme will offer a seamless two-wheeler owning experience to our customers”.