In recent times, electric vehicles (EVs) have stood out as one of the cutting-edge innovations in the global transportation industry. While many individuals are swapping their traditional petrol-run personal vehicles for EVs, businesses also have great potential to transition to electric three-wheeler cargo vehicles. Even auto-rickshaw drivers can play a role in transforming public transportation by opting for electric autos. In fact, the Indian Government actively supports the EV30@30 campaign, with one of the aims being that nearly 80% of three-wheelers should go electric by 2030.
When EVs are the future, why wait for tomorrow when you can make the switch today using a three-wheeler loan? Learn more about the EV loan benefits, online loan process, and electric three-wheeler loan options in India.
Top three reasons to choose an electric three-wheeler
There are many lucrative advantages of electric three-wheelers for businesses and individuals:
- Easy handling: Electric three-wheelers are packed with features such as instant torque, automatic transmission, regenerative braking, and precision control. These vehicles help with easier manoeuvrability, making navigating through city traffic a breeze compared to their traditional counterparts.
- Cost-effective: As EVs have a simplified design with fewer mechanical components, it significantly decreases maintenance expenses. Plus, since electricity is cheaper than fossil fuels like petrol and diesel, you also save money on operating costs.
- Sustainable: Besides personal benefits, choosing an EV helps reduce your carbon footprint, promote cleaner air, and support the environment. If you can do your bit to make the world a better place, would you not consider it?
EV loan benefits you don’t want to miss
Are you demotivated to opt for vehicle finance options because you feel it is complicated? Then, here are five benefits to bust your myths about loans!
- Easy eligibility criteria: You only need to fulfill three criteria to secure your EV loan. You should be between 18 and 60 years of age, an Indian resident, and have an operative bank account.
- Minimal documentation: Three documents are sufficient for completing the loan application procedure—proof of identity, proof of residence, and proof of income.
- Online loan process: Vehicle finance has seen a massive upgrade by going entirely digital. Now, you can enjoy a paperless journey and get your three-wheeler loan sanctioned online.
- Flexible repayment tenure: Using an EMI calculator, you can determine if you are comfortable paying off the loan in 6 months or four years.
- Simplified loan disbursal: Nothing about the EV loan process is complicated—fewer application steps, fewer documents, and quick approval and disbursement.
Electric three-wheeler loan options in India
If you are looking for the best vehicle finance companies in India, look no further than Manba Finance. Known for offering collateral-free loans quickly, they are one of the best out there. But don’t take our word for it; check out the success stories of 9 lakh Indians!
How to apply for an electric three-wheeler loan?
If you are still questioning whether you should opt for an EV loan, the simple application process will convince you immediately! You only need to follow these five quick and easy steps:
- Step 1: Go to the Manba Finance website and click “EV three-wheeler loan” from the dropdown menu.
- Step 2: Read all the details on the webpage, including the process, document checklist, eligibility criteria, and EMI calculator. If you have any queries in mind, check out the FAQs section. More doubts? Feel free to get in touch with Manba Finance.
- Step 3: When you understand everything, click the ‘Apply now’ button. It will direct you to a loan application form. Fill in the required details like your name, email, phone number, location, type of loan, and CIBIL score.
- Step 4: You must submit all the required documents and get your loan approved in a day!
- Step 5: The last step is onboarding, where you complete all the final formalities such as KYC Submission, E-Sign Agreement, and E-Mandate. Once complete, Manba Finance will sanction your loan!