Hero Electric Partners With SBI To Offer Finance Solutions For Electric Scooters

Hero Electric has joined hands with the State Bank of India (SBI) to offer two-wheeler finance solutions for its range of electric scooters. With this partnership, customers can now purchase Hero Electric scooters at the lowest interest rates across India. The company has announced that customers opting to purchase any Hero Electric scooter will get an additional Rs. 2,000 off on payments made through YONO, SBI's integrated digital banking platform. Customers can opt for a fully digital and paperless two-wheeler loan with minimum documentation. Additionally, physical assistance and offline financing can be availed across all Hero Electric touchpoints.

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Speaking on the partnership, Sohinder Gill, CEO, Hero Electric, said, "There is strong demand for EVs today and, to make the purchase experience smooth, we are glad to partner with India's largest bank SBI. This partnership will provide the best interest rates and unique offers to fuel the green mobility revolution. Customers are looking for lucrative deals and schemes to make the shift and invest in an electric two-wheeler. We are determined to provide seamless service to our customers across our dealerships with State Bank of India's wide network."

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Devendra Kumar, Chief General Manager (Personal Banking Business Unit) SBI said, "We are glad to come together with the two-wheeler EV market leader and offer the best financing option that any customer desires. Eligible SBI customers can get instant digital two-wheeler loan "SBI Easy Ride" through YONO. They can avail the loan at an EMI of as low as Rs 251/- per Rs 10,000 for 4 years under SBI Easy Ride loan. This initiative is a step further in the bank's contribution towards the country's green mobility revolution by making EVs affordable with lower EMIs."

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Hero Electric is India's leading electric two-wheeler manufacturer, with a manufacturing unit in Ludhiana. The company sells a wide range of electric scooters catering to a wide spectrum of customers. Hero Electric currently has more than 750 sales and service outlets across the country along with a widespread charging network and trained roadside EV mechanics. The company currently has over 4.5 lakh electric two-wheelers in India, and has been operating for the past 14 years.