Electric Vehicles are inexpensive choices for commuting daily. It is an eco-friendly option with a Zero emission facility. Owning an electric bike is so simple in today’s fast-paced world. Technology offers you a range of options to buy your very own e-bikes. Many brands give access to register the vehicles online. If you thought of purchasing an e-bike, take a plunge now!

However, if you face any funding shortfall,  check out the best bike loans from LoanTap. Unsecured Loans like e-bike Loans are available to finance the first electric bike. It provides 80-100% value of vehicles on-road price. There is no need for a downpayment. Getting an electric bike loan is an ideal solution for buying two-wheelers on EMI. 

How does the Electric Bike Loan work?

You can own a stylish electric bike by getting a convenient personal loan. LoanTap offers you an E-bike term loan to purchase electric bikes ranging from INR 20,000 to INR 2,00,000. A loan for an electric scooter is so simple to apply for and get instantly sanctioned. LoanTap has partnered with premium brands like Ampere Electric, which provides you with an exciting riding experience. Two-wheeler loans are available with flexible repayments options, where you can pay off the loan in Fixed EMIs. Your loan amount will be based on your current credit score and the type of income/employment you have. 

Why take LoanTap’s Electric Bike Loan?

E-bike Loans are offered to salaried professionals up to a certain limit based on their net monthly salary. You will get the instant credit amount from INR 20,000 – 2,00,000 for tenures ranging between 6 months – 36 months. Applying for a two-wheeler bike loan saves you from spending a big chunk of your savings. You don’t need to follow lengthy documents and fill out numerous forms. Personal loans are repaid every month by dividing the loan into fixed equated monthly instalments. 

Features of LoanTap’s Premium Bike Loans 

  • Quick Loan Approval: Online bike loans have a simple process to get approval within 24 hours. It will provide you with an online application to fill in your personal and financial details. LoanTap is a trustworthy loan lender who disburses any personal loan within 24-36 hours of the application.
  • Collateral Free Loans: Ebikes loans are essentially unsecured loans, which don’t require any security or assets to be mortgaged against the amount. This collateral-free loan is best suited for salaried professionals If you have a net monthly income of INR 10,000, you qualify to apply for personal loans from LoanTap.
  • Minimum Documentation: As we have mentioned, it is an easy online process that needs minimal documentation to verify the account. There is no need to waste your time struggling with paperwork. The required documents should be legal and valid, including identity proof, address proof, and bank statements. All you need to do is upload the documents.
  • Transparent Process: Loantap’s bike loans are offered with no hidden charges or fees.
  • Cheaper than credit cards: If you use credit cards to finance your e-bike, it can turn out to be expensive. Interest on outstanding balance would work out to 2-3% per month which is 24-36% annually. LoanTap interest rates on e-bike loans are much cheaper at 13-15% per annum.
  • Convenient Repayments: Electric scooter loans allow you to plan the loan amount and decide the method to repay. The convenient repayment methods make everything easier for the younger generation. It also encourages them to buy environmentally friendly and cheaper electric vehicles than fuel cars or motorcycles. 
  • Easy Repayment Tenure: Two-wheeler loans offer you enough time to repay over a tenure of 6 months to 36 months.  Bike EMI Calculator will help you calculate the ideal tenure of the loan that will work out the most convenient EMI for you.

Eligibility Criteria to Apply for Bike Loan

Bike Finance Loan is similar to a personal loan, where you get the loan amount quickly. At LoanTap, you can complete the loan process in a hassle-free fashion. It is the ideal choice to buy stylish and powerful electric bikes. So, we have listed below the eligibility criteria that you need to clear to get an electric bike loan approval online. 

  • Applicants must be an Indian citizen or resident
  • You should be between 21 – 58 years of age.
  • You must have a net monthly income of INR 10,000/-.
  • Valid six months bank statement of your account.

If you qualify all the parameters, it’s time to get electric scooters with the loan amount. While applying, there are some basic documents for verifying your professional and bank details.  Check out the listed documents below:-

  • PAN Card
  • Address Proof like Electricity Bill/Telephone Bill/Rental Agreement/Passport.
  • Identity Proof like Driving License, Adhar Card/ Passport
  • Payslips of last three months
  • Valid Bank statement for the last six months

If you have all these documents, make sure they are valid and updated. You can upload all your documentation on the LoanTap website. After successful uploading, wait for the response. 

Before applying, you bear in mind that your credit score should be decent because your creditworthiness is verified by the LoanTap team to check your status. It is defined by your CIBIL score that displays your promptness in repaying loans. You must qualify all the eligibility criteria for the Two-wheeler loan with interest rates. 

How to apply for Electric Scooter Loan

LoanTap brings you a range of glossy and smart-looking e-bikes. It comes with pocket-friendly repayment methods which can help you own cost-effective electric vehicles to commute. To buy an electric scooter via loan takes only a few steps. We have mentioned the step-by-step guide for you to follow for buying an e-bike online on EMI.

  1. Install the LoanTap app from Google Play Store or visit the page https://loantap.in/apply to apply online.
  2. Create your profile by filling out the basic details like email address and residential address.
  3. After creating a profile, check out the offers and enter the desired loan amount.
  4. Upload the basic documents mentioned above.
  5. Now, wait for the LoanTap team to complete the verification of your credit score and other details.
  6. After instant verification, LoanTap will send an approval mail and activate the instant disbursal online seamlessly. 

 As soon as the process is done, the loan amount will be credited to your account. Always ensure that you repay the loan on the agreed repayment date so that your credit score is healthy for use in the future. You can use the loan for buying any variant of electric vehicles from popular brands. 

About Ampere Electric Vehicles

Are you looking for a brand with accessible electric mobility solutions? Ampere can be an ideal choice that has impressed millions of hearts. Ampere Electric Scooters offer benefits such as low maintenance, emission-free ride, and low total fuel consumption. Ampere EV by Greaves is specialized in providing the best rides of your life. It helps with cleaning polluted air and gives people an opportunity to lower their carbon footprint by using a bike that doesn’t use fossil fuel.

Ampere Electric Bikes are manufactured to encourage sustainable mobility in the country. The bikes are available in a range from INR 30,000 to INR 80,000 depending on the model you choose. Some of the popular models are Ampere Zeal, Ampere Reo Elite, Ampere Magnus Pro amongst millennials. It saves your money with a running cost of 15 paise/km. Ampere Scooter can become your right partner on a long ride. 

Ampere Zeal Ex Performance Scooter

Ampere is a top-line electric scooter with multiple benefits. Zeal Ex has a high-speed lithium-ion battery. You can enjoy a hassle-free ride with your electric scooters in cities. Zeal Ex has tubeless tires to enjoy a smooth ride on bumpy and rough rides. It can easily run for 60 volts | 30 Ah with a lithium-ion battery.  The Zeal scooter has a portable battery at the back, which can be fully charged in 5 to 6 hours. This electric scooter runs at a speed of 50 km/h. If you charge it up to maximum, this Ampere Electric bike can cover a long distance of 75km. 

Key Features:

  • High-speed: Ampere Electric Zeal has a maximum speed of up to 55 km/h. It comes with a feature of dual operating modes, which let you decide the speed you want. You can go on a speedy ride and easily pass through crowded areas. 
  • Long Range: It is an economical variant among electric scooters. As you can go for a long ride with your friends with no worry. With 5 hours of charging, it can cover 75km per charge. 
  • Lightweight Scooter: It is the most interesting feature of the Zeal Scooter. However, it is a lightweight electric scooter yet powerful enough. With strong motor power, it can reach from 0 to 40km/hr in less than 11 seconds.
  • Comfortable: The Zeal Ex provides ample boot space and spacious legroom for a comfortable ride. If you are looking for a daily commuting option, this online bike is the best comfort option. 
  • Easy Charging: It is convenient to charge Li-ion batteries at home or office. Easy to remove battery can be charged in almost 6 hours. Ampere Ex is the perfect choice for you.
  • Stylish Body: Zeal Electric Scooter has features such as daylight LED, glossy body, tail light, and speed-o-meter with digital display. It comes in beautiful colors which attract consumers to buy.
  • Security: Zeal scooter has an anti-theft alarm facility that offers you extra safety. With additional security, you can have a stress-free ride. Not every electric scooter has this feature, it is available in one of the best electric scooters in India. 
  • Warranty: You will get a three years warranty on key components of Ampere electric scooters. The warranty includes the battery, motor, energy converter, and controller. This guarantee remains till you complete 20,000 km. 

Ampere Zeal Scooter Price: Rs. 65,999

Colors Available: Burgundy Red, Pearl White, and Graphite Black

Bike LoanTwo Wheeler LoanElectric Bike Loan
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Satyam Kumar is banking industry veteran with enriched experience of more than 20 years. Apart from founding LoanTap and FinTech Association of Consumer Empowerment, he is an avid traveler and holds keen interest in Blogging. He has amassed profound knowledge in FinTech trends, banking, consumer trends, food and mythology which he loves sharing with others.
Satyam kumarSatyam KumarCEO & Co-Founder, LoanTap asset 8 asset 9
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