| Sourcing | Dealers & COCO Showrooms |
|---|---|
| Location | PAN INDIA |
| Minimum Age | Minimum age limit at the time of application is 18 years for both salaried and self-employed person |
| Maximum Age | The maximum age of the applicant must not exceed 58 years at the end of loan tenure for normal salaried, and 60 years at the end of tenure for govt. salaried, And 65 years at the end of tenure for self-employed applicants |
| Loan Amount | 80% of the on-road price for High-speed electric two-wheelers 70% of the on-road price for Low-speed electric two-wheelers |
| Minimum income |
For Salaried applicants Min. salary of Rs. 10000 P.M |
| Self Employed | Minimum business income of Rs. 120000 P.A Income is to be considered on the customer’s declaration basis |
| Tenure | 12 months to 36 months |
Identity Proof:- (PAN Card/Driver’s License/Voter’s ID/Aadhar card/Passport)
Photograph:- One passport-size photograph
Address Proof:- Residence Address Proof
Income Proof:- Last 3 Month’s Salary Slips / Form-16 (Optional)
Last 3 months Bank Statement
If the Residence address does not match to the Aadhar card, we can consider below mentioned documents as Address proof:
Individuals meeting the eligibility criteria set by Mangalam Industrial Finance Limited including age, income, and credit score requirements can apply for the loan.
Mangalam Industrial Finance Limited provides loans for a wide range of electric scooters and motorcycles from registered dealers and distributors of Wardwizard Innovations & Mobility Ltd. (Joy e-bike).
Documents typically required include identity proof, address proof, income proof, bank statements, and details of the electric vehicle to be purchased.
The maximum loan amount depends on various factors such as the applicant’s income, creditworthiness, and the cost of the electric vehicle.
Mangalam Industrial Finance Limited offers flexible repayment tenures ranging from 12 to 36 months, allowing borrowers to choose a tenure that suits their financial situation.
*These FAQs provide a comprehensive overview of electric two-wheeler loans offered by Mangalam Industrial Finance Limited. Applicants are requested to contact us directly for specific details and personalized assistance.
*Terms & Conditions Apply
Mangalam Industrial Finance Limited is a Non-banking Financial Institution providing hassle-free loans. with easy and quick loan facilities. We aid our customers with financial solutions primarily for the purchase of Electric Two-Wheelers.
Copyright © Mangalam Industrial Finance Limited All rights reserved. — Designed & Developed by Eminent Digitals