Ather Energy Partners With State Bank of India To Offer Vehicle Financing In India

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Ather Energy, an electric two-wheeler manufacturer, has partnered State Bank of India in order to offer vehicle financing.

Ather Energy customers can get instant loans at rates as low as 9.55% per annum as part of the association. Pre-approved loans can also be obtained depending on creditworthiness.

The vehicle loans will be offered by SBI through their YONO mobile app and at their branch network. This public sector lender makes it easy for buyers to adopt the loans.

The OEM hopes to increase the growth of the country’s electric vehicle (EV), ecosystem through this partnership.

Customers will be eligible for loans up to 85% of the cost of electric two-wheelers depending on their profile. The dealer will receive the approved loan amount directly.

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.”

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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”.

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