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Tata Capital > Blog > Loan for Vehicle > With Rising Petrol Costs: Will Owning an E-Bike be Beneficial?

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With Rising Petrol Costs: Will Owning an E-Bike be Beneficial?

With Rising Petrol Costs: Will Owning an E-Bike be Beneficial?

Due to soaring petrol prices and growing environmental concerns, many commuters are choosing sustainable mobility alternatives over traditional ones. Naturally, electric bikes are increasingly becoming a go-to option for those looking to buy an efficient yet affordable two-wheeler. Read further to know more about E-bikes.

Benefits of electric bike

Here’s why investing in an E-bike will be in your best interest.

Cost-efficient

Cost-efficient E-bikes are not hard to find. They save money on two fronts – firstly, the cost of operating an e-bike is much lower than a petrol-powered two-wheeler, and secondly, they run on rechargeable batteries which are relatively cheaper than petrol. What’s more, they require low maintenance and getting them serviced doesn’t cost much. On average, you can save around Rs. 15,000 annually with an electric bike.

Environment-friendly

It’s no secret that one of the most significant advantages of electric bikes is that they are eco-friendly. Compared to the CO2 emissions from petrol-powered vehicles, an e-bike emits a staggering 23 times less carbon than four-wheelers. If you wish to choose sustainability along with cost-efficiency, look no further than an electronic bike.

Additional Read: Best Electric Bike Models Planned to Be Launched In 2021

Incredibly silent

Let’s face it! The rising levels of noise pollution are a serious cause for concern in most cities today. Prolonged exposure to traffic noises has shown to have a detrimental effect on productivity. It can also cause stress, lack of sleep, and lead to poor concentration. But, not if more and more people purchase an electric bike. These vehicles are incredibly silent and can play a significant role in culling noise pollution.

Best ways to finance an electric scooter

Sure, you can dig into your savings to purchase an electric scooter, but paying the entire cost of the two-wheeler upfront won’t leave you enough cash for emergencies. So, the better way to finance your E-bike is to avail of a bike loan. Fortunately, today, these are available at competitive interest rates with a negotiable repayment term. What’s more, you can apply for this type of loan online.

Eligibility criteria for obtaining two-wheeler finance

Every lender has its own set of eligibility criteria. Here are the criteria for availing two-wheeler finance from Tata Capital:

  • Your age must fall between 21 to 65 years.
  • You must have a stable employment status for at least 1 year.
  • You must be a citizen of India.
  • You must be residing at the same address for 1 year.

Additional Read: How to get a bike loan with 100% financing

Documents required to avail two-wheeler finance

Here are the documents Tata Capital will ask for when you apply for two-wheeler finance:

  • Identity proof (Aadhaar card/voter ID card/PAN card/Driver’s license)
  • Address proof (utility bills/lease agreement/bank passbook)
  • Age Proof (Passport/driving license/birth certificate)
  • Income proof (for salaried – last 3 to 6-month salary slips, latest ITR and Form 16. For self-employed – latest tax returns)

Turn to Tata Capital!

Don’t let funding be a hurdle in purchasing your electric bike! Turn to one of India’s leading lending institutions Tata Capital for bike finance at competitive interest rates and flexible repayment terms.

Want to figure out your potential EMIs accurately? Well, we also offer an easy-to-use two-wheeler loan EMI calculator.

Apply Now

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