Finance
EV finance and green loans
Most major Indian banks offer a lower interest rate on EV loans compared to petrol/diesel vehicle loans. Here's what to know.
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Rate range
Current green-loan rates for EVs range from 8.1% to 9.5% for new cars — typically 0.25 to 0.5% lower than ICE-vehicle rates.
Down payment
Some lenders offer up to 90% funding on EVs. Two-wheeler EVs often qualify for 100% funding programmes.
Tenure
Standard 7-year tenure available. Balloon-payment and step-up EMIs are increasingly common.
Where to apply
HDFC Green Auto Loan, SBI Green Car Loan, ICICI EV Loan, Axis Bank e-Car Loan, and Kotak Prime EV are the biggest programmes.
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