Bajaj Electric Scooter EMI Plans: A Comprehensive Overview
Article by Drivio | 12th Oct 23
Explore different Bajaj electric scooter EMI plans before purchasing an EV and opt for the right repayment plan to ease up your finances. With flexible repayment plans available, you need not compromise your financial stability while purchasing your electric scooter.
If you are willing to purchase a new electric scooter, you might consider Bajaj Auto, one of the most trusted motorcycle manufacturers in India. In recent years, the company has launched its electric scooters, which sent waves down the green vehicle industry. Being a bike enthusiast, you might be willing to get your new two-wheeler financed by a reputed bank or private lender. It’s imperative to compare different Bajaj electric scooter EMI plans before you purchase and ensure your affordability.
Thanks to flexible loan terms and repayment tenures from leading banks and NBFCs, you have lots of EMI options to choose from. Besides, Bajaj partners with some of the trusted lenders to provide different EMI plans to motorcycle owners. Understanding Bajaj's electric scooter financing plans can help you settle for the right EMI scheme.
Understanding Bajaj's Electric Scooter Financing
For decades, Bajaj Auto has been a household name in the Indian two-wheeler market. The brand is known for its stylish and durable motorcycles. Bajaj has consistently upgraded its technology over the years, particularly with the advent of EVs. Currently, its product portfolio includes affordable electric scooters that promise to contribute to a greener future.
Bajaj Auto also offers different financing options to make these electric scooters accessible to customers across all sections of society. Once you know these Bajaj electric scooter EMI plans, you can choose one without straining your wallet.
What are the EMI Options for Bajaj Electric Scooters?
In collaboration with different banks and NBFCs, Bajaj Auto offers a variety of EMI plans to its customers. This ensures that you can choose from the available EMI options, aligning your obligations with your repayment capacity. Let's take a closer look at these EMI options.
1. Standard EMI Plans
Bajaj Auto continues to collaborate with different financial institutions to provide standard EMI plans for their electric scooters. Under this option, you can finance your EV over a fixed tenure. Typically, this ranges from 12 months to 60 months.
Depending on the lender and the model you choose, the down payment and rate of interest may vary. When you choose a standard EMI plan, the entire cost of the electric scooter from Bajaj is broken down into manageable monthly payments. This significantly eases up your finances to purchase an electric scooter.
2. Zero Down Payment EMI
Not ready to shell out a sizable down payment to purchase your Bajaj electric scooter? Here’s where a zero down payment EMI option can help you acquire your motorcycle. A zero down payment EMI plan means you can ride home on a new EV without paying any upfront amount.
The total cost of the scooter is divided into equal monthly installments. Thus, you can own a scooter even if you don’t have any money ready to fork out right at the moment. From the subsequent month, you need to pay a manageable amount as your EMI.
However, banks and NBFCs charge a higher interest rate on zero down payment EMIs.
3. Low-Interest EMI Plans
While exploring different Bajaj electric scooter EMI plans, it’s essential to know low-interest schemes to purchase your new scooter. Bajaj provides low-interest EMI plans, which significantly reduces the overall cost of financing the EV.
Low-interest EMI plans come with competitive interest rates. This makes them a smart choice for budget-conscious buyers. When you choose a low-interest EMI plan, you can enjoy your rides without taking on excessive financial burden.
However, you should have a healthy credit score, preferably over 750 to qualify for a low-interest EMI plan. Lenders will also scrutinize your credit report to get an idea of your money-handling habits before sanctioning a low at a low-interest rate.
4. Flexi EMI Plans
In collaboration with Bajaj Finance, the company has come up with Flexi EMI plans. As the name suggests, customers with different income levels can enjoy the flexibility of these loans to clear their debts. Considering your ongoing financial commitments, you can choose the EMI option.
For instance, you can choose to pay a higher EMI amount when you have surplus income at your disposal and switch to lower EMIs during the leaner months. Thanks to this flexibility, you can personalize your EMI plan depending on your changing financial conditions.
5. Balloon EMI Schemes
Balloon EMI schemes are a special type of EMI option, where you make lower monthly payments throughout most of the loan tenure. However, at the end of the term, you need to make a lump sum ‘balloon’ payment. This can be advantageous for buyers who expect a sizable income in the future or have been looking for lower EMI amounts initially.
The electric scooters from Bajaj are not just another mode of transportation. They carry a style statement of sustainable mobility. With a wide range of Bajaj electric scooter EMI plans, the company makes it easier for bike enthusiasts in India to purchase these vehicles without stressing themselves financially.
On understanding Bajaj's electric scooter financing plans, you can choose the right scheme that suits your finances. This article explains standard EMI plans, low-interest schemes, zero-down payment options, and other customizable schemes for your convenience. With these EMI options, you can carefully evaluate your financial strength and choose the right plan.