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Electric Two-Wheeler Loan

Unlock the power of mobility with Mangalam Industrial Finance Limited's Electric Two-Wheeler Loan! Whether you're a commuter, delivery service, or eco-conscious individual, our loan is tailored to provide easy access to electric vehicles, revolutionizing your transportation needs.
With our Electric Two-Wheeler Loan, you can acquire state-of-the-art electric bikes or scooters to enhance your daily commute or business operations. Whether you're looking to expand your fleet, replace outdated vehicles, or embrace sustainable practices, our loan is here to support your dreams.

Mangalam Industrial Finance Limited's Electric Two-Wheeler Affordable Loans

We offer competitive interest rates based on the applicant's credit score, loan amount, and repayment tenure. To ensure transparency and convenience, please refer to the table below for more details:

Loan Amount For High-speed vehicle 80% of the on-road Price
For Low-speed vehicles 70% of the on-road Price
Sourcing Area All registered dealers and distributors of Wardwizard Innovations and mobility ltd( Joy e-bike)
Minimum Age At the time of application, the minimum age must be 18 years for both salaried and self-employed applicants.
Maximum Age Must not exceed 58 years at the end of loan tenure( for normal salaried)
60 years at the end of tenure ( for govt. salaried)
And 65 years at the end of tenure (For self-employed).
Tenure Min. 12 months
Max. 36 months
LTV 80% of the Invoice Amount for High-Speed Vehicle
70% OF Invoice for Low-Speed Vehicle
(Insurance Cost : GST included)
Profile Salaried (Employees working in private/institution/government/hospitals etc.) Self Employed (Professional/proprietor/partner/ director/agriculturists in individual capacity etc)

Eligibility Criteria for Electric Two-Wheeler Loan

  • Age :- Applicant must be between 18 to 65 years of age (Maximum Age criteria may vary depending on the profile of the applicant)

  • Citizenship:-Indian

  • KYC Authentication:-PAN and Aadhar Card validation is required

Documents Required

Here are the documents required for Electric Two Wheeler Loan Financing:

For Salaried Applicants:
Identity Proof
Address Proof
Income Proof
  • 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

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.

*Terms & Conditions Apply

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