Electric Four-Wheeler Loan
Drive your income with our Electric Four-Wheeler Loan
The Electric Four-Wheeler Loan is offered by Revfin as a closed-ended credit product. With this loan, a fixed amount is borrowed and repaid in equal monthly instalments over the loan term. Interest and applicable fees are charged on the loan amount. This loan is only available for products purchased from our approved dealerships. This loan is for individuals purchasing an electric four-wheeler for commercial use only. The vehicle becomes the primary source of income for the individual taking the loan.
Loan Details
Loan Amount
Rs 4,50,000 or 90% of the total on-road vehicle price, with a minimum loan amount of Rs 40,000.
Loan Tenure
Borrowers can choose a loan tenure ranging from 6 months to 60 months to meet their financial needs.
Interest Rate
Up to 30% (annualised reducing rate) or 17% (flat interest rate) is available.
Eligibility Criteria & Charges
Essential Verifications
Mandatory Requirements
- Vehicle Documents: Registration Certificate, Vehicle Insurance
- Others: IOT tracking device through any of Revfin Approved vendors
Eligibility Criteria
- Age Limit: Greater than 21 years and less than 60 years at the time of loan application
Documents Required
List of Valid Documents
- PAN Card
- Proof of Residence
- 2 Post Dated Cheques
Applicable Charges
Charges List
- Processing Fees/Origination Charges: Upto 5%
- Per EMI Bounce Fee: Rs 250
- Legal/Incidental Charges: As per Actual
- Loan Cancellation Charges: NIL
- Foreclosure Charges: NIL
- Extra Charge for Late EMI payment: NIL
Essential Verifications
Mandatory Requirements
- Vehicle Documents: Registration Certificate, Vehicle Insurance
- Others: IOT tracking device through any of Revfin Approved vendors
Eligibility Criteria
- Age Limit: Greater than 21 years and less than 60 years at the time of loan application
Trusted Partners
Loan Eligibility Check
Whether you're salaried or self-employed, Revfin offers loans to all with minimal documentation. To learn more, visit your nearest dealer. Start by checking your eligibility here.
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EMI Calculator
Revfin offers loans at reducing and flat rates, enabling you to select the EMI that suits your budget best. Quickly check your affordable EMI options here.
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Testimonials
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