For automobile finance, Ather Energy collaborates with SBI.

Ather Energy, an electric two-wheeler manufacturer, said on Wednesday that it has teamed with the State Bank of India (SBI) to provide car financing to its clients. According to the firm, the agreement would allow Ather Energy customers who have pre-approved loan offers from SBI to obtain quick loans at low interest rates starting at 9.55 % per annum, depending on client credit profile.

The auto loans may be obtained both online and offline, according to SBI's mobile app You Only Need One (YONO).

According to Ather Energy, the agreement with the country's largest public sector lender aims to leverage its reach and penetration in advancing the adoption of electric vehicles (EVs) in the home market.

According to the firm, it allows clients to obtain loans up to 85% of the vehicle's on-road price, subject to the customer's loan eligibility, and the cash will be transferred into the dealer's account immediately upon loan disbursement.

The auto loans may be obtained both online and offline, according to SBI's mobile app YONO.

According to Ather Energy, the agreement with the country's largest public sector lender aims to leverage its reach and penetration in advancing the adoption of electric vehicles (EVs) in the home market.

According to the firm, it allows clients to obtain loans up to 85% of the vehicle's on-road price, subject to the customer's loan eligibility, and the cash will be transferred into the dealer's account immediately upon loan disbursement.

This project is a step forward in providing digital two-wheeler loans to consumers through a paperless procedure at the convenience of their preferred location and time.

"Under the SBI Easy Ride loan, customers may obtain the loan through YONO for an EMI of as low as Rs 251 per Rs 10,000. We think the SBI Easy Ride financing plan would provide our clients with a smooth two-wheeler ownership experience," said Saloni Narayan, Dy. Managing Director for Retail Business at SBI.

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