Hero Electric Partners With IDFC First Bank For Financing Options

Electric two-wheeler company, Hero Electric has partnered with IDFC First Bank with an aim to offer easy and affordable finance options to its customers.

IDFC First Bank will offer a low Equated Monthly Instalment (EMI) of Rs. 2731 and a 100 per cent Loan to Value (LTV) to Hero Electric customers. Customers opting for this option will have the flexibility to repay their loans conveniently over an extended period.

The partnerships aim to enhance accessibility and affordability of electric vehicles for a wider audience, thereby accelerating the adoption of clean and sustainable transportation solutions in the country.

Simultaneously, Hero Electric has also collaborated with other financial institutions to enable customers to purchase any model from Hero Electric's Optima range or NYX with a minimal down payment of Rs. 8190. 

Speaking about this partnership, Sohinder Gill, CEO of Hero Electric, said, “A critical aspect of the success of EVs in India is easing the financial burden on buyers. It has been our constant aim to find synergies with banks and financial institutions to make E2Ws exciting and affordable. We are happy to have found partners in IDFC First Bank who believe in the EV space.”