The world has undergone a significant transformation in the 21st century. As the world population increases, the need to protect the planet from environmental damage also grows manifold.
As responsible citizens, we need to be more environmentally aware and adopt measures in our daily lives that can give some respite to an overburdened planet. The need to switch to electric vehicles is a step in the right direction. Electric scooters come with multiple benefits, which makes them a viable alternative to fuel bikes. If you have a clean, green alternative that can offer you a comfortable ride, why not switch to electric scooters? An Electric Bike Loan can be beneficial if you want to finance an electric bike.
Here are some benefits of switching to electric scooters
Saving fuel costs
With fuel prices sharply spiralling upwards in the recent past, using a fuel-powered scooter/bike has become an expensive proposition that cannot be used by a large majority of the population. An electric scooter can save 90% of the fuel expenses of a conventional scooter, which can amount to a hefty figure over a year.
Lower maintenance costs
Buying an electric bike works out cheaper in the long run. Electric scooters are very low maintenance compared to conventional scooters, and when compared over the life of the vehicles, electric scooters work out much cheaper.
No pollution
Since electric scooters don’t run on fuel, no harmful gases are released into the atmosphere. This makes electric scooters a clean alternative to conventional bikes. In addition, electric bikes are relatively silent compared to conventional bikes, thus reducing noise pollution as well.
Government Subsidies
To promote clean alternatives to fuels, the central and state governments have offered several incentives to both manufacturers and customers of electric scooters. This is a focused effort to increase the popularity of electric scooters and get more people to switch to this option.
Evolving technology
With technology advancing every day, manufacturers are coming up with the latest models that have detachable batteries that you can recharge anywhere. GPS navigation, easy parking and remote locking are some of the new features that customers can look forward to.
Buying electric scooters online has become so convenient with the easy personal loans offered by various lenders. LoanTap has a special scheme for electric scooters that makes owning an electric scooter a breeze for commuters.
LoanTap offers up to 80% of the on-road price of the bike as a loan if you meet the minimum eligibility requirements. If you are wondering what the eligibility criteria are, here you go.
- You need to be an Indian citizen or resident
- You must be over 21 years of age
- Your net monthly income should be over INR 30,000
If you meet the eligibility criteria, you have passed the first step. Now you can download the LoanTap app on your mobile. You will be required to fill out an online application with the necessary information and upload the following documents.
- PAN Card
- Aadhaar Card
- Bank statements for the last six months
- Salary slips for the last three months, if employed
- IT Returns for the last two years
The system verifies the documents and if all are found ok, the loan is approved. Once the loan is approved, a sanction letter is issued by LoanTap. You can visit any electric bike dealer and show this sanction letter to ride away on the bike of your choice.
Features of electric bike loans from LoanTap
Decent Loan Amount
LoanTap offers high loan amounts from INR 20,000 to INR 2 Lakhs, which is sufficient to buy the electric bike of your choice.
Quick Disbursal
LoanTap has a smooth and seamless online process that allows you to get the loan sanctioned within 24-36 hours.
Longer Tenure
You can get a loan from six to 60 months, which gives considerable flexibility to decide on the optimum EMI.
Flexible Repayment Plans
LoanTap offers flexible repayment plans to borrowers. You can switch to an accelerated repayment mode after you complete six months of repayment.
Minimum Documentation
Buying an electric scooter online is convenient and hassle-free with LoanTap’s app that calls for minimum documentation and paperwork.
Transparent Process
LoanTap follows a transparent process with no hidden charges other than those mentioned clearly in the agreement.
No Collateral
LoanTap offers you a convenient online personal loan to meet your aspirations and buy an electric bike of your choice. The entire process is smooth, seamless, and efficient so that you have a pleasant experience. You can opt for the tenure of your choice and pay off the loan in easy installments.
Walk away with the electric bike you prefer and make a conscious decision to protect our planet for future generations. To learn more about buying an electric scooter online, download the LoanTap app today.
