Ather Energy to partner with SBI to fund vehicles

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New Delhi: Two-wheeler company Ather Energy on Wednesday said it had partnered with State Bank of India (SBI) to fund its customers’ cars. The partnership will enable Ather Energy customers, with pre-authorized loans from SBI, to get a quick loan with low interest rates starting from 9.55% per annum, depending on the client’s credit profile, the company said in a statement.

A car loan can be obtained through the SBI YONO mobile app and offline, he added.

The partnership with the country’s largest public sector lender aims to harness the power of access and entry to accelerate the adoption of electric vehicles (EVs) in the domestic market, Ather Energy said.

It allows customers to get a loan of up to 85% of the car value of the car, depending on the eligibility of the customer ‘s loan, the company said, adding that on repayment, the amount will be paid into the seller’s account immediately.

In addition, to ensure easy customer acquisition, SBI will also expand its offline cashback options across the branch network.

“We recognize that funding plays an important role in the automotive industry, and we hope that our partnership with SBI will ensure that customers are easily bought and attract more people to join the EV transformation,” said Ravneet Phokela, Chief Business Officer at Ather Energy. .

The company will continue to work with major banks, NBFCs, and financial institutions to provide its customers with attractive financial options, he added.

“This initiative is a further step in providing digital two-wheeler digital credit to customers through a paperless process in their area and at their preferred time.

“Customers can get a YONO loan at a low EMI like Rs 251 for Rs 10,000 each under the SBI Easy Ride loan. We believe the SBI Easy Ride loan program will provide unparalleled information on having two wheels for our customers,” said Saloni. Narayan. Dy. Managing Director of SBI Marketing Business.

first published:June 8, 2022, 6:40 p.m.

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