Hero Electric partners IDFC First Bank for retail finance

Hero Electric has partnered IDFC First Bank for retail finance of electric two-wheelers.

The OEM says with the rising demand for e2Ws backed with conducive policies, financing partnerships plays a crucial role in fastening EV adoption across the country.

The collaboration will allow Hero Electric customers to avail an instant loan on KYC with low processing fees and down payment. The EMIs can be availed on all Hero Electric scooters across its more than 750 dealerships at attractive interest rates.

Sohinder Gill, CEO, Hero Electric said, “Demand has been peaking for EVs with customers switching to EVs for the sustainable mobility solution. We have created a corpus of funding schemes personalised to fit consumer preferences. This partnership with IDFC First Bank will further our penetration to newer markets to promote green commuting via seamless financing options. It will benefit our customers significantly in aiding commute savings.”