Hero Electric ties up with IDFC First for affordable finance options

Electric two-wheeler maker Hero Electric has announced a strategic collaboration with IDFC FIRST Bank to offer easy and affordable finance options to its customers. Offering a low Equated Monthly Instalment (EMI) starting at Rs 2,731, and a 100% Loan to Value (LTV) offer. 

According to the tie-up with IDFC, Hero Electric customers choosing this plan will have the flexibility to repay their loans conveniently over an extended period, while experiencing the benefits of eco-friendly and cost-effective mobility solutions.

Hero Electric is offering consumers the option to purchase any model from Hero Electric's Optima range or NYX with a minimal down payment of Rs 8,190 and facilitate a smoother transition to EVs, without having to undergo the burden of the FAME II subsidy revision which has increased the prices of the electric scooter.

Speaking about these retail finance schemes, Sohinder Gill, CEO, of Hero Electric said, “A critical aspect of the success of EVs in India is easing the financial burden on buyers. It has been our constant aim to find synergies with banks and financial institutions to make E2Ws exciting and affordable with this new alliance to ensure electric mobility within everyone’s reach.”

Hero Electric aims to leverage the banks' expertise and extensive reach to ensure a seamless and hassle-free financing experience for its customers.