Rickshaws360 Logo
☎ +91 8439143393

E Rickshaw Loan in 16 Minute by Revfin

E Rickshaw Loan in 16 Minute

Revfin is giving Electric Three Wheeler Loan is a closed ended credit product. With this loan, you borrow a fixed sum of money from us and repay it back in equal monthly installments over the term of the loan. We charge interest on the amount lent and apply fees/charges. This loan is only available through our approved dealerships.

For individuals to buy an electric rickshaw or any electric three wheeler to drive for commercial purpose. The three wheeler is intended to become the primary source of income generation for the loan customer.

Product details

  • Loan Amount: Maximum Rs. 4,50,000 or up to 90% of Vehicle On-road Price. Minimum loan amount 40,000 INR
  • Loan Term: 3 - 36 Months
  • Interest Rate: Up to 29% (Annualized Reducing Rate) OR 14% Flat Interest Rate

Mandatory Requirements

  • Vehicle Documents: Vehicle Registration Certificate. Vehicle Insurance
  • Others: IOT/tracking devices in vehicle through our approved vendors

Eligibility Criteria

  • Customer Age: Greater than 21 years and lesser than 60 years at the time of loan application
  • Minimum Monthly Income: 12000 INR
  • Documents Required: PAN, Proof of ID/Residence, Three months bank statements and 6 Cheques

Applicable Charges

  • Processing fee/origination charges: Up to 10%
  • Foreclosure charges: Nil
  • Additional interest on late payment of EMI: 30%
  • Per EMI bounce charge: 250
  • Legal/incidental charges: At actual
  • Loan cancellation charges: Nil