EV Financing India: 15 Best Companies for Electric Vehicle Loans

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Top EV Finance Companies in India EV Financing India: 15 Best Companies for Electric Vehicle LoansElectric vehicles (EVs) are quickly gaining traction, driven by technological advancements, environmental awareness, and supportive government policies.

However, EVs have a hefty price tag compared to traditional petrol and diesel vehicles. According to Acko Drive, the total cost of owning an electric vehicle for five years amounts to approximately ₹2,72,500, which is a significant sum for an average or middle-class consumer.

Much of this cost stems from the expensive battery pack, which makes up nearly half the vehicle’s price. Coupled with advanced EV technology, this makes electric vehicles more expensive than their conventional counterparts.

Fortunately, several EV financing options have emerged to ease this burden.

Here is a list of the top 15 EV financing companies and Banks in India that are actively supporting the rise of electric mobility, offering loans for electric two-wheelers, three-wheelers, and electric four-wheelers.

List of the Top 15 EV Financing Companies in India

Name of the CompanyElectric Vehicle Segment Website
ICICI BankElectric Four- Wheelershttps://www.icicibank.com/personal-banking/loans/car-loan/ev-car-loan
State Bank of IndiaElectric Four- Wheelershttps://sbi.co.in/web/personal-banking/loans/auto-loans/green-car-loan
Poonawalla Fincorp LimitedUsed Electric Four- Wheelershttps://poonawallafincorp.com/loan-for-used-electric-car.php
Mufin Green FinanceElectric two-wheelers, Electric three-wheelers and Electric four- wheelers https://mufingreenfinance.com/product/
Bank of Maharashtra Electric Four- wheelershttps://bankofmaharashtra.in/maha-super-green-car-loan-scheme-electric-car 
Shriram General InsuranceElectric two-wheelers and four-wheelers https://www.shriramgi.com/electric-car-insurance
Alt MobilityElectric two-wheelers, Electric three-wheelers and Electric four- wheelers https://alt-mobility.com/
Ascend CapitalElectric two-wheelers, Electric three- wheelers https://www.ascendcap.in/
Credit FairElectric Two- Wheelershttps://creditfair.in/
EcofyElectric Two-wheelers, Electric Three- Wheelershttps://www.ecofy.co.in/
Greaves FinanceElectric two-wheelershttps://evfin.co/
OTOElectric two-wheelershttps://www.otocapital.in/
RuppyElectric two-wheelershttps://www.rupyy.com/
RevfinElectric three-wheelers and two-wheeler loan https://www.revfin.in/
VidyuttechElectric three-wheelershttps://www.vidyuttech.in/

 

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