What is an EV Ancillary Loan?

Virat: An EV Ancillary Loan is a closed-ended credit product designed to finance additional components for electric vehicles, such as batteries and conversion kits.

Who can apply for an EV Ancillary Loan?

Virat: The loan is available to individuals or fleet owners who are purchasing EV ancillaries for commercial use.

What is the maximum and minimum loan amount?

Virat: The maximum loan amount is ₹1,50,000, and the minimum is ₹10,000.

What are the interest rates on this loan?

Virat: Interest rates are up to 30% (Annualized Reducing Rate) or 22% Flat Interest Rate.

What is the loan tenure?

Virat: You can choose a tenure from 6 to 36 months.

What documents are required to apply?

Virat: You need to provide PAN, proof of residence, a three-month bank statement, and 6 post-dated cheques.

Are there any fees associated with the loan?

Virat: Yes, there may be processing fees up to 5%, a ₹250 fee for each EMI bounce, and other incidental charges as per actual.

Is there a subscription model for the EV Ancillary Loan?

Virat: This loan does not involve a subscription model; it is a fixed-term credit product.

How can I check my eligibility for the loan?

Virat: You can check your eligibility by using our online eligibility form.

What should I do if I’m not eligible?

Virat: If you’re not eligible, you can revise the terms and recheck or contact us for further assistance.

EV Ancillary Loan

Drive your income with our EV Ancillary Loan

The Electric Three-Wheeler Lithium Battery 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 and is provided to individuals looking to purchase a Lithium Battery for their existing or new electric three-wheeler for commercial use.

Loan Details

Loan Amount

Maximum loan amount is Rs 60,000 and minimum loan amount is Rs 49000.

Loan Tenure

Borrowers can choose a loan tenure of either 12, 15 or 18 months.

Interest Rate

Up to 35% (annualised reducing rate) or 22% (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

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.

Check Your Eligibility

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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