Electric Vehicle (EV) Loans: Benefits and Interest Rates

EV Loan Benefits

Many banks offer special EV loans with lower interest rates and additional benefits.

EV Loan Features

• Interest rates: 7.50% to 9.50% (lower than regular car loans)
• Higher loan-to-value: Up to 90% financing
• Longer tenure: Up to 8 years
• Green initiative benefits

Government Subsidies

FAME II scheme offers subsidies on EV purchases. Additional state subsidies available.

EMI Example