In an environment where we don’t have enough money to buy a car, special car loans offered by banks on the eve of the festive season can help us. In particular, it should be noted that banks offer loans with special offers to buyers of electric cars. Leading banks like SBI, Axis Bank, Bank of Baroda, Canara Bank, Punjab National Bank etc. provide loans to customers at low interest rates.
Why are there so many benefits for electric cars?
It is a matter of concern that the sources of fossil fuels are depleting day by day and due to this the prices of petrol and diesel are increasing. Along with this, petrol and diesel vehicles cause a lot of pollution to the environment.
The use of electric vehicles is encouraged to solve all these problems. Just as banks provide loans at low interest rates, tax concessions are also provided by the central government.
For such reasons, electric vehicles are the preferred choice for first-time car buyers. Even those who already own cars want their next car purchase to be electric.
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Reasonably priced electric cars:
When electric cars were introduced, customers were reluctant to buy them due to their high cost. However, after many companies like Tata Motors and Mahindra Electric Mobility have started selling electric cars, their prices have also started to decrease.
Banks offering discounts on electric vehicles:
Banks are offering concessions ranging from 10 to 30 basis points to customers buying electric cars. For example, Bank of Baroda offers up to 0.25 percentage points and SBI offers up to 0.20 percentage points.
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In SBI Bank, car loans are usually offered at 7.85 percent to 8.65 percent interest, while green customers are offered loans at 7.95 percent to 8.30 percent interest. The loan repayment period differs from bank to bank.
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