September 22, 2023

Revealed on : March 02, 2023

With the current emphasis on the surroundings and the large-scale adoption of a number of eco-friendly practices, it’s no shock that electrical autos on the whole have change into very fashionable amongst the youthful era who’re very eager on doing their bit for the planet. Getting an electrical bike to your day by day commute is a superb solution to present your dedication to the nation. These bikes are clear and inexperienced, releasing zero carbon and never including to the noise air pollution as effectively. Chances are you’ll be questioning how a lot they price and whether or not you possibly can afford them. Nicely, they do price a tad bit greater than the gas equivalents however they ship extra when it comes to working prices. In truth, they end in respectable price financial savings over the lifetime of the car. You possibly can cease worrying if the upper electrical bike worth is a trigger for concern since LoanTap has the proper answer for you.
LoanTap provides user-friendly electrical bike loans which are available inside 24 hours of utility. You will get between INR 20,000 to INR 2,00,000 to purchase the electrical bike of your selection. You possibly can repay the identical over 12-36 months at rates of interest between 13-15percentp.a. You possibly can foreclose the mortgage after six months with none prepayment penalty.

Who’s eligible for an electrical bike mortgage?

LoanTap specifies some eligibility situations that should be fulfilled earlier than you possibly can apply for an electrical bike mortgage.

You possibly can qualify for an electrical bike mortgage utility if you happen to can reply the next questions within the affirmative.

  • Are you an Indian citizen or resident?
  • Are you over the age of 21 years?
  • Do you earn a internet month-to-month earnings of INR 10,000?
  • Is your credit score rating over 630?

If you happen to answered sure to the entire above questions, you qualify to use for an electrical bike mortgage.

How do you apply for an electrical bike mortgage?

LoanTap has created a digital mortgage course of that’s extraordinarily handy for debtors. It’s designed to make your borrowing expertise nice and stress-free. 

Right here is how one can apply for an electrical bike mortgage from LoanTap

Step 1 – Go to the LoanTap on-line market and discover the assorted fashions of electrical bikes on provide.

Step 2 – After evaluating all of the options, price, battery life, guarantee, after-sales service and community of charging stations, you possibly can slender all the way down to the mannequin of your selection.

Step 3 – You possibly can select to go to a supplier close to you to look at the bike bodily earlier than you finalize your buy.

Step 4 – Obtain the LoanTap app in your smartphone

Step 5 – Fill out a web-based utility with the required particulars and Add the next paperwork –

  • PAN Card
  • Aadhaar Card
  • Financial institution Assertion for the final 3 months
  • Wage slip for the final month

Step 6 – Now sit again and chill out whereas the system evaluates your utility. 

If all of the paperwork are appropriate, your mortgage utility can be accepted.

Step 7 – The mortgage can be credited to your account inside 24 hours. In case you are finalizing the bike by means of the net market, the quantity can be straight deposited within the supplier’s account whereas you’ll obtain the sanction letter.

Benefit from the LoanTap Benefit

LoanTap gives custom-made loans which are designed to offer a superior buyer expertise. 

  • On the spot approval – The loans are accepted immediately and disbursed inside 24 hours, in contrast to conventional loans which might take as much as every week for disbursement.
  • 24/7 availability – Because the course of is digital, it isn’t restricted by working hours, weekends or holidays. You possibly can apply for a mortgage in accordance with your personal comfort.
  • Cheaper possibility – If you happen to examine the electrical bike mortgage with private loans or bank cards, you’ll notice that it’s a cost-effective possibility at 13-15% in comparison with 18% + charged on private loans and 30-36% on bank cards.
  • No hassles – There isn’t any paperwork concerned and it’s good to add solely the obligatory paperwork for processing the mortgage.
  • Comfort – You possibly can full the method sitting at house with no visits to the financial institution. This provides you peace of thoughts and you may chill out whereas making use of for the mortgage.


Congratulations to you you probably have made up your thoughts to buy an electrical bike as your contribution in direction of a cleaner and greener future for the nation. LoanTap will assist you to meet your aspirations by providing you a pleasant electrical bike mortgage immediately. Use the digital app to get your mortgage processed and credited inside 24 hours and experience away in your model new bike!