Revamp Moto partners with loan providers for 2W financing solutions – ET Auto

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The financing partners will extend credit lines to the customers, with interest rates ranging between 12.4% and 15%, with a repayment period extending up to five years.

Revamp Moto, a leading modular electric two-wheeler manufacturer, has partnered with two-wheeler loan providers LoanTap, Bajaj Finserv, and State Bank of India (SBI) to introduce diverse financing options for its latest electric scooter customers.

The financing partners will extend credit lines to the customers, with interest rates ranging between 12.4% and 15%, with a repayment period extending up to five years. To avail of these credit lines, customers need to make a down payment of 20% of the vehicle’s cost of INR 70,000 barring GST. The whole loan application procedure is predetermined to be swift and trouble-free and takes less than half an hour to finish, the company said in a media release.

Pritesh Mahajan, CEO and co-founder of Revamp Moto, said,“Following the commencement of deliveries of our recent electric scooter, the strategic decision to partner with two-wheeler loan providers will enhance the accessibility of our product to more customers. Our strategic partnership with distinguished financial service providers like LoanTap, Bajaj Finserv, and SBI, will allow the customers to experience the future of transportation in a hassle-free manner and will help us achieve our vision to provide sustainable and adaptive solutions to the society and mission to empower 1 million lives by 2028 .”Revamp Moto’s recent electric scooter comes fitted with six modular and swappable attachments, and is focused on the needs of small business owners, delivery riders and gig workers. These adjunct parts empower the consumers with enhanced supervision of their respective occupations with increased productivity while contributing to a sustainable future by selecting environment-friendly transport options at the same time, the release said.

The new partnerships come right after Revamp Moto’s prior announcement of the commencement of deliveries of its latest electric scooter across India, including to customers present in Delhi, Haryana, Uttar Pradesh, Karnataka, Gujarat, Maharashtra, and Rajasthan. Manufactured at Revamp Moto’s microfactory in Maharashtra’s Nashik, the innovative two-wheeler electric scooter will be supported by ReadyAssist, which will provide 24/7 automotive roadside assistance to all customers across the country, the release added.

  • Published On Mar 6, 2024 at 12:53 PM IST

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