Electric Two Wheeler Loan

Electric Bike Loans:
A Sustainable Choice

Electric bikes, commonly known as e-bikes, offer an eco-friendly alternative to traditional gasoline-powered vehicles. They are not only environmentally responsible but also cost-effective in the long run, requiring minimal maintenance and significantly reducing fuel expenses.

Recognizing the growing demand for e-bikes, ICICI Bank has introduced Electric Bike Loans with up to 100% on-road price funding, in order to make it easier for individuals to adopt this sustainable mode of transport.

Electric Bike Loans from ICICI Bank offer an excellent opportunity to embrace eco-friendly and cost-effective commuting options. By choosing an electric bike, you not only reduce your carbon footprint but also enjoy the convenience and affordability of this mode of transport.

Key Highlights of Electric Bike Loans

Easy Financing

ICICI Bank provides hassle-free financing options for both high-speed and low-speed electric bikes, ensuring that you can make this eco-conscious choice without straining your finances.

Easy Financing

Competitive Interest Rates

Enjoy competitive interest rates on Electric Bike Loans, making it an affordable choice for two-wheeler enthusiasts.

Competitive Interest Rates

Quick Approval

With a streamlined loan approval process, you can get your loan sanctioned swiftly, allowing you to bring home your electric bike sooner.

Quick Approval

Flexible Repayment Tenure

ICICI Bank offers flexible repayment tenures, allowing you to choose a comfortable tenure that suits your financial situation.

Flexible Repayment Tenure

Minimal Documentation

The documentation requirements for Electric Bike Loans are minimal, reducing the paperwork and simplifying the application process.

Minimal Documentation

How to Apply for an Electric Bike Loan

Applying for an Electric Bike Loan from ICICI Bank is a straightforward process. Here are the steps involved:

Check Eligibility

Check Eligibility

Determine if you meet the eligibility criteria for an Electric Bike Loan, which typically includes factors like age, income, and credit score.

Documentation

Documentation

Gather the necessary documents, such as proof of identity, address, income, and the quotation or invoice for the electric bike you wish to purchase.

Loan Application

Loan Application

Visit your nearest ICICI Bank branch or apply online through their website. Our bank executive will assist you in filling the loan application digitally once you provide correct details

Loan Processing

Loan Processing

Once you submit your application, ICICI Bank will review your documents and assess your eligibility.

Approval and Disbursement

Approval and Disbursement

Upon approval, the bank will disburse the loan amount directly to the electric bike dealer or seller.

Repayment

Repayment

You can start repaying the loan in equated monthly instalments (EMIs) as per the chosen repayment schedule.

How to Use the EMI Calculator

  1. Loan Amount: Enter the loan amount you wish to borrow for your electric bike purchase. This should include the cost of the electric bike itself, along with any additional expenses such as insurance or accessories.
  2. Loan Tenure: Choose the loan tenure that suits your financial situation. The tenure represents the number of months over which you plan to repay the loan.
  3. Interest Rate: Input the applicable interest rate for your electric bike loan. ICICI Bank offers competitive interest rates to ensure affordability.

The calculator will carry out the calculations side by side and give you varying figures as you adjust the inputs. This way, you can find the ideal EMI plan for repaying the loan comfortably.

For instance:

Principle Amount= 5,00,000

Rate of Interest= 10.25%*

Tenure= 3 years

Loan EMI= Rs. 16,192

Note: The Rate of interest is subject to change. Do check the official website.

Bike Loan EMI Calculator

  • ₹30,000
  • ₹30L
  • 12 months
  • 36 months
%
  • 9%
  • 30%
*The EMI displayed is indicative and may vary during actual loan processing.
  • ₹ 2,00,000

  • ₹ 22,605

  • ₹ 2,22,605

Your Monthly EMI is ₹9,275

Enter a valid input

Factors Impacting Your EMI Amount

Several factors can influence your EMI amount

Interest Rate

Interest Rate

Higher interest rates result in higher EMIs. ICICI Bank offers competitive rates to keep EMIs affordable.

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Loan Amount

Loan Amount

A larger loan amount translates to higher EMIs. You should borrow according to your financial capacity.

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Loan Tenure

Loan Tenure

Longer tenures lead to lower EMIs but increase the total interest paid. Consider your financial goals and capacity when choosing the loan tenure.

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Flexible EMI

Flexible EMI

ICICI Bank offers flexible EMI schemes that allow you to adjust the EMI amount to suit your convenience.

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