September 28, 2023
Thinking of buying an electric scooter? Here’s what you should know

Printed on : March 02, 2023

Considering of shifting to an eco-friendly solution to get round? Wish to purchase an electrical scooter? Properly, there are a number of choices out there and you may simply discover one which fits your wants. Because the identify suggests electrical scooters run on rechargeable batteries and eradicate the necessity for gasoline consumption. Whereas most electrical scooters might not provide you with breakneck speeds, they’re nice in your short-distance commutes. It’s a cleaner and greener various and the federal government is encouraging residents to change to this to scale back carbon emissions.

An electrical scooter is best than a gasoline various as a result of following reasons-

  • Clear and Inexperienced possibility – Electrical scooters are environment-friendly as they don’t emit smoke or create noise air pollution. They’ll play a vital function in decreasing carbon emissions when a majority of individuals change to this various.
  • Low upkeep – As electrical scooters don’t have too many shifting components, they’re straightforward to take care of. In comparison with gasoline bikes, electrical scooters are very low upkeep and this protects cash in the long term.
  • Decrease operating prices – An electrical scooter prices round INR 0.25 per km whereas a gasoline scooter might value as much as INR 2.5 per km. This makes it so economical to run. This piece of knowledge will aid you make the proper choice.

You should use financing from LoanTap to fund this buy in case you are going through any cash issues. LoanTap provides a really handy electrical bike mortgage that may make life straightforward for you.

Why do you have to go for an electrical bike mortgage?

An electrical bike mortgage reduces your downside of utilizing up your financial savings to buy the bike. You will get the mortgage immediately and fulfill your aspirations whilst you will pay it off in equated month-to-month installments over the mortgage tenure.

Why do you have to select LoanTap in your electrical bike mortgage?

Electrical scooters are costlier in comparison with their gasoline counterparts. They’ll value wherever between INR 50,000 to INR 2,00,000. There are over 270 fashions out there in India and the electrical bike costs will range primarily based on the model, the battery and the options it provides.
LoanTap provides electrical bike loans from INR 20,000 to INR 2,00,000 for tenures starting from 12-36 months. The rates of interest can range from 13 to fifteen% p.a.

Who can apply for an electrical bike mortgage?

In case you are an Indian citizen or resident over the age of 21 years and earn a month-to-month web earnings of over INR 10,000, you may apply for an electrical bike mortgage from LoanTap. It’s preferable that you’ve a credit score rating of over 630.

What’s the mortgage utility course of to be adopted?

The mortgage utility course of may be very uncomplicated and user-friendly. Listed below are the steps to be adopted –

  • Obtain the LoanTap utility in your smartphone
  • Now, fill out an internet utility with the required info
  • On this step, get able to add the next documents-
    • PAN Card
    • Aadhaar Card
    • Financial institution assertion for the final three months
    • Wage slip for the final month
  • Now chill out whereas the system verifies your paperwork 
  • If all of your paperwork are so as, your mortgage utility will probably be accredited
  • The mortgage quantity will probably be credited to your account inside 24 hours

Advantages of making use of for an e-bike mortgage

Getting an electrical bike mortgage from LoanTap comes with a wide range of advantages a few of that are talked about under –

  • On the spot disbursement – Loans are disbursed inside 24 hours which makes it a go-to resolution for funds.
  • 24/7 availability – Loans can be found round the clock with out being interrupted by working hours, weekends or holidays.
  • Cheaper than bank cards – Whereas bank cards cost 2.5-3% monthly on excellent balances and private loans begin at 18%, electrical bike loans are supplied at 13-15% which makes them a sensible choice.
  • On-line market – LoanTap provides an internet market the place you may try varied fashions and make your choice. You possibly can then select your mannequin earlier than making use of for financing.
  • No bodily paperwork – Other than a single on-line utility and some paperwork that must be uploaded, no different paperwork is required which makes the method hassle-free making it engaging to debtors.
  • Comfort – All the course of is digital and seamless making it quite simple to make use of for debtors.
  • Simple eligibility standards – The eligibility necessities for electrical bike loans have been saved minimal in order that most aspirants can profit from it.


Shopping for an electrical scooter could also be an excellent thought in case you are in search of a clear and inexperienced day by day commute possibility. The straightforward mortgage from LoanTap makes positive you have got a pleasant borrowing expertise. In case you are in search of a fast, handy, hassle-free, digital borrowing expertise anytime wherever, obtain the LoanTap app at present! Have a clear and inexperienced commute each day whereas we blow your funding woes away!