Ather Energy partners with SBI for retail financing
Electric two-wheeler maker Ather Energy has partnered with the State Bank of India to provide customers with car finance.
Under the Ather Energy Association, customers will get instant loans at interest rates as low as 9.55% per annum. Pre-approved loans will also be administered, depending on the creditworthiness of the buyer. SBI will offer the auto loans on its YONO mobile app as well as its branch network, as the public sector lender guarantees ease of adoption for buyers.
With this collaboration, the OEM aims to accelerate the growth of the electric vehicle (EV) ecosystem in the country.
Customers, depending on their profiles, will be able to benefit from loans of up to 85% of the road price of electric two-wheelers. The approved loan amount will be credited directly to the dealer’s account.
Ravneet Pholeka, Chief Commercial Officer of Ather Energy, said, “We understand that financing plays a vital role in the automotive industry and are confident that our partnership with SBI will ensure ease of purchase for customers and inspire more people to join the electric vehicle revolution. ”
Saloni Narayan, Dy. MD – Retail Business, SBI added: “This initiative is a step closer to offering two-wheeled digital loans to customers through a paperless process at the convenience of their place and time of choice. Customers can avail the loan through YONO at an EMI as low as Rs 251 for Rs 10,000 under the SBI Easy Ride Loan. We believe the SBI Easy Ride loaner program will provide a seamless two-wheeler ownership experience for our customers.”