Electric scooters are revolutionizing the way we commute. They are eco-friendly, cost-effective, and offer a convenient mode of transport for daily commutes. However, not everyone can afford to buy an electric scooter outright. This is where financing options come into the picture. In this blog, we will explore the benefits of financing an electric scooter and how Jana Small Finance Bank is making it easier for people to own an Ather electric scooter.
Why Finance An Electric Scooter?
Financing an electric scooter is a smart move for many reasons. Firstly, it allows you to own a scooter without having to shell out a large sum of money upfront. This is particularly beneficial for individuals who are looking to buy a high-end model like the Ather electric scooter. Secondly, financing also provides flexibility in terms of repayment options. You can choose a repayment plan that suits your budget and financial goals. Finally, financing also helps improve your credit score as long as you make timely payments.
Jana Small Finance Bank and Ather Electric Scooters
Jana Small Finance Bank has partnered with Ather Energy to offer financing options for their electric scooters. Ather's finance penetration has grown from 5-8 percent in 2019 to more than 45 percent in 2023, making it one of the fastest-growing segments in the electric vehicle industry. Jana Small Finance Bank's tie-up with Ather Energy makes it easier for customers to own an Ather electric scooter without having to worry about the upfront cost.
The bank offers a range of financing options for Ather electric scooters, including:
1. Step-Up EMI Plan: This plan allows customers to pay lower EMIs in the initial months, which gradually increases over time. This is a great option for individuals who expect their income to increase in the future.
2. Balloon EMI Plan: This plan allows customers to pay a large chunk of the total cost at the end of the loan tenure. This is ideal for those who have a lump sum of money that they can pay at the end of the loan period.
3. Regular EMI Plan: This plan involves paying a fixed EMI amount every month for the entire loan tenure. This is a straightforward and simple plan that is ideal for individuals who want predictability and stability in their finances.
The bank also offers attractive interest rates and easy documentation, making the financing process hassle-free for customers.
Conclusion
Financing an electric scooter is a smart move for many reasons. It allows you to own a scooter without having to pay a large sum of money upfront and offers flexibility in terms of repayment options. Jana Small Finance Bank's tie-up with Ather Energy is making it easier for customers to own an Ather electric scooter. With a range of financing options and attractive interest rates, customers can now enjoy the benefits of owning an electric scooter without worrying about the upfront cost. So, if you're in the market for an electric scooter, consider financing as it may be the smartest move you make.