Hero Electric, an Indian electric scooter manufacturer, has entered into a partnership with the State Bank of India (SBI) to provide financing options to its buyers.

Apart from that, customers will be able to utilize the offer to reduce the effective price of electric vehicles (EVs), said Hero Electric.

The automobile manufacturer said that buyers can get electric scooters such as Hero Wolf+, Hero Simple One, Hero Optima, and Gen Next Nanu+ among others at low interest rates electric scooters.

Sohinder Gill — CEO of Hero Electric said: “There is strong demand for EVs today and, to make the purchase experience smooth, we are glad to partner with India’s largest bank SBI. This partnership will provide the best interest rates and unique offers to fuel the green mobility revolution.

“Customers are looking for lucrative deals and schemes to make the shift and invest in an electric two-wheeler. We are determined to provide seamless service to our customers across our dealerships with State Bank of India’s wide network.”

Hero Electric said that its buyers will get an additional INR 2,000 discount on payments made via State Bank of India’s digital banking platform YONO.

The company said that the partnership lets customers choose a completely digital and paperless two-wheeler loan with a single click.

Besides, Hero Electric announced that physical help and offline financing can be availed at all its more than 750 touchpoints.

Devendra Kumar — Chief General Manager (Personal Banking Business Unit) of State Bank of India said: “We are glad to come together with two-wheeler EV market leader and offer the best financing option that any customer desires. Eligible SBI customers can get instant digital two-wheeler loan “SBI Easy Ride” through YONO.

“They can avail the loan at an EMI of as low as Rs 251/- per Rs 10,000 for 4 years under SBI Easy Ride loan. This initiative is a step further in the bank’s contribution towards the country’s green mobility revolution by making EVs affordable with lower EMIs.”

  Devendra Kumar, electric scooters, Electric Vehicle, electric vehicles, Hero Electric, Sohinder Gill, State Bank of India