Electric Vehicle Loan
Go Green, Save More
Drive the future of zero-emission mobility. Enjoy special concessional interest rates from 7.99% p.a., 100% on-road funding, ₹1.5L Section 80EEB tax deduction, and zero road tax benefits across 20+ partner banks.
Save on Fuel
₹12,000+/mo Fuel Savings
Green ROI
7.99% Special Rate
Exclusive Government Incentives & Green Subsidies
Buying an electric car in India now comes with huge tax deductions, zero road taxes, and massive monthly running cost reductions.
Section 80EEB Tax Benefit
Claim up to ₹1,50,000 tax deduction per financial year on the interest paid towards your electric vehicle auto loan, directly lowering your taxable income.
Zero Road Tax & 5% GST
Electric cars attract only 5% GST compared to 28% to 43% on petrol/diesel vehicles. Additionally, state governments offer 100% waiver on RTO Road Tax.
₹1.20/km Running Cost
While petrol cars cost ₹8.50 to ₹10.00 per km, an EV costs only ₹1.00 – ₹1.40 per km, saving you over ₹1,20,000 annually in fuel expenses alone.
Calculate Your Electric Car Loan EMI
Adjust the sliders below to plan your monthly budget at our special 7.99% EV interest rate.
Principal Amount
₹12,00,000
Total Interest
₹3,70,548
Total Payment (Principal + Interest)
₹15,70,548
Top Electric Cars Financed In India
Get up to 100% on-road funding and lowest EMI options across India's leading EV models.
Tata Nexon EV
India's Best Selling Electric SUV
Tata Punch EV
Compact Green City SUV
MG ZS EV
Premium British Electric Drive
Mahindra XUV400 EV
High Power All-Electric SUV
Hyundai Ioniq 5
Ultra-Fast Charging Luxury EV
BYD Atto 3
Blade Battery Electric Innovation
Compare 20+ Bank Green EV Loan Interest Rates
We negotiate directly with PSU and leading private banks to fetch you the lowest green auto finance interest rate.
| Bank / Lender | EV Interest Rate (p.a.) | Maximum LTV | Tenure | Special EV Benefit |
|---|---|---|---|---|
| State Bank of India (SBI) | 7.99% – 8.65% | Up to 90% | 8 Years | Green Car Loan Scheme |
| Bank of Baroda | 8.15% – 8.85% | Up to 90% | 7 Years | 0.25% Interest Concession on EVs |
| HDFC Bank | 8.25% – 9.10% | Up to 100% | 7 Years | Zero Prepayment on select models |
| ICICI Bank | 8.30% – 9.20% | Up to 90% | 7 Years | Instant Digital Disbursement |
| Axis Bank | 8.20% – 8.95% | Up to 85% | 8 Years | Customized Clean Energy Offers |
| Union Bank of India | 8.10% – 8.75% | Up to 90% | 7 Years | Concessional Processing Charges |
Who Can Apply For An EV Loan?
- ✓Resident Indian Citizens aged between 21 to 65 years
- ✓Salaried individuals with minimum monthly net salary of ₹25,000
- ✓Self-employed business owners & professionals with 2+ years of continuous business operations
- ✓Minimum Credit Score of 650+ (700+ for 7.99% concessional rate)
- ✓Commercial fleet owners & cab operators eligible under EV commercial schemes
Required Documents Checklist
- ✓Identity Proof: PAN Card (Mandatory) & Aadhaar Card
- ✓Address Proof: Passport, Electricity Bill, or Registered Rental Agreement
- ✓Income Proof: Last 3 months Salary Slips (Salaried) OR Last 2 years ITR with Financials (Self-Employed)
- ✓Bank Statements: Last 6 months operative bank account statement
- ✓EV Quotation: Official proforma invoice from authorized EV car dealer
20+ Banking Partners
Ready To Switch To Electric Mobility?
Apply in under 2 minutes, get instant CIBIL verification, and compare customized EV offers across 20+ top lenders.