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| Loan Amount | ₹100,000 |
| Interest % | 8 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 8,699 |
| Total Interest | ₹ 4,386 |
| Loan Amount + Interest | ₹ 104,386 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 49,005 | ₹ 3,189 | ₹ 52,194 | ₹ 50,995 | 49.00 % | |||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||
| ₹ 50,997 | ₹ 1,197 | ₹ 52,194 | ₹ 0 | 100.00 % | |||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||
Explore Your Options
The E-Rickshaw Loan by Upniva is the perfect vehicle loan to buy a three-wheeler, especially if you plan to use it for commercial purposes. If you're serious about owning and operating an electric rickshaw or any other electric three-wheeler, we can help you take on this new endeavor with customized financial solutions.
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
One of the most important steps. Now you will have to submit all the required documents digitally.
Once your application is approved based on your eligibility, the amount will be disbursed to your account shortly.
An E-rickshaw loan is a type of financing provided by banks, financial institutions, or government schemes to individuals who want to purchase an electric rickshaw for commercial use. An electric rickshaw, also known as an E-rickshaw or electric tricycle, is a battery-powered vehicle that is becoming increasingly popular in India for its low cost of operation, eco-friendliness, and fuel efficiency.
E-rickshaw loans typically cover the cost of the electric rickshaw, and may also include expenses such as insurance, registration, and other charges. The loan amount, interest rates, and repayment terms vary depending on the lender and the borrower's creditworthiness.
To apply for an E-rickshaw loan, borrowers must typically provide certain documents such as identity proof, address proof, proof of income, and the details of the electric rickshaw they intend to purchase. Some lenders may also require a down payment or collateral to secure the loan.
Note: The eligibility criteria and documents required for an E-rickshaw loan in India may vary depending on the lender and the specific loan product.
PAN Card
Aadhaar Card
Driving license
Voter ID
Electricity Bill
Telephone
Passport
Voter ID
Note: Additionally, you may be required to provide other documents as per the lender's requirements
Any Indian citizen who is at least 21 years old and has a valid driving license can apply for an E-rickshaw loan in India. The borrower must also meet the lender's minimum income requirement and have a good credit score.
The repayment tenure for an E-rickshaw loan can range from 12 months to 48 months, depending on the lender and the loan amount.
The interest rates for an E-rickshaw loan may vary depending on the lender, the loan amount, and the borrower's credit score. Generally, interest rates for E-rickshaw loans in India range from 11% to 25%
The documents required to apply for an E-rickshaw loan may vary depending on the lender, but generally, the borrower must provide identity proof, address proof, proof of income, vehicle documents such as the registration certificate (RC) and insurance papers, quotation or invoice from the manufacturer or dealer for the electric rickshaw, and bank statements for the last 6 months.
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