Key facts
What the official sources publish
Every value below belongs to this exact product. Select a source marker to check its context.
Eligible vehicleNew electric car
Source 1Current fixed interest-rate range8.75% to 9.85% p.a.
Source 2Maximum financeUp to 100% of on-road price, subject to applicant-category income multiples
Source 3Published repayment period36 to 96 months
Source 4Minimum published annual income₹3 lakh for specified employees and tax assessees; ₹4 lakh for agriculture and allied activities
Source 5Processing feeSame new-car fee bands: ₹1,000 to ₹3,000 for salaried/
Source 6Benefits and features
- EV-only focused finance
- Up to 100% of on-road price
- Rates from 8.75% p.a.
- Eight-year maximum tenor
Eligibility
- Applicants must be aged 21 to 70 and meet category-specific income rules.
- The current rate table should be used instead of inferring a rate from the older concession statement.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- Application and KYC
- Income evidence
- Recent bank statements
- Electric-car quotation and registration or insurance documents