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 Whether you're looking to expand your fleet, replace outdated vehicles, or embrace sustainable practices, our loan is here to support your dreams.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:- (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