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Frequently Asked Questions

An electric two-wheeler loan is a financing option provided by Mangalam Industrial Finance Limited for individuals looking to purchase electric scooters or motorcycles.

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.

The interest rate varies based on factors such as the applicant’s credit score, loan amount, and repayment tenure. Mangalam Industrial Finance Limited offers competitive interest rates.

Yes, there may be a processing fee and other charges applicable to the loan. These fees and charges are clearly communicated to the applicant.

Yes, borrowers have the option to pre-close or pre-pay the loan, subject to applicable terms and conditions.

Mangalam Industrial Finance Limited may offer insurance options such as two- wheeler insurance or comprehensive coverage along with the loan for added convenience and protection.

The loan processing time varies, but Mangalam Industrial Finance Limited strives to ensure a quick and efficient process. Once approved, the loan amount is disbursed promptly to the dealership or vendor selling the electric two-wheeler.

Applicants can apply for the loan through Mangalam Industrial Finance Limited’s website, branches, or authorized agents. The application process typically involves filling out a form, submitting required documents, and undergoing the loan approval process.

*Terms & Conditions Apply

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