This Diwali gift yourself a Hero electric scooty. To help you book your electric scooty this Diwali, Bajaj Mall comes with ease of selecting and booking your scooty at the convenience of your home and exciting offers on two-wheelers.
Electric scooters are easy to maintain, extremely cheap to operate and do not add pollutants to the atmosphere. Within an environment of shooting oil prices this is a breath of fresh air. Also, this scooter is backed by the expertise and experience of the country’s largest two-wheeler manufacturer, Hero MotoCorp.
The company also has one of the largest electric scooter ranges in the country. Products such as Eddy, Photon LP, Electric Optima CX – Dual Battery, Electric Optima CX – Single Battery, Electric NYX HS500 ER and many more are all modestly priced between Rs 62,000 and Rs 77,000, ex-showroom. More launches are expected soon. With the two-wheeler loan option, you do not need to commit the entire value of the scooty at once and book the scooty on EMIs instead.
A Hero electric scooty is generally great value for money, and being carbon footprint-free, it adds value to your life as well. The company’s claims that its scooters are put through 46 stringent quality checks before they reach the market. That spells dependability.
On a fixed income, the easily available two-wheeler loan can provide a mobility boon for you and your family. Consider the Hero Electric Optima CX – Dual Battery, for example. Its ex-showroom price is Rs 77,490 and has an average 140km range per single charge. Full charging is achieved in just 4-5 hours. It can reach a top speed of 45kmph and is basically a city vehicle.
This scooty has the special advantage of a portable battery, which makes charging very convenient. You just need to detach the battery and charge it from the comfort of your home or office.
However, if the price tag seems high, book the scooty on EMI through Bajaj Mall. You can easily select the bike you want to buy and go ahead with booking your bike.
100% on-road pricing
The two-wheeler loan allows you to take a loan that is equal to the on-road price of the scooter. On-road price will include the ex-showroom price, plus insurance, road tax, accessories, and other incidental charges. What helps further is the Rs 20 lakh upper limit of the loan, which allows immense head space for fancy accessories.
There is no minimum CIBIL score limit for this scheme. That allows many more aspirants to avail of this loan. The only caveat is that if your score falls below 720, you may end up getting a smaller amount as loan than you had asked for. However lower scores will not lead to rejection of your loan application, provided all other criteria have been met.
The tenure
The long tenure will allow you to pay back with ease, thus not affecting your current budget. However, one has to keep in mind that the longest tenure may not always be the best option. The interest rate ranges between 9.25% and 14%. This depends on your profile and on the tenure of the EMIs that you choose. A longer tenure will have a smaller principal pay-out and a larger interest component and vice-versa for very short tenures. You will have to find the point of balance while booking the scooty on EMI, where you do not end up paying too much overall, and where your budget isn’t constrained by a high monthly pay-out
either.
The scheme does not have any field investigation or tele-verification. Approval usually comes through in 60 minutes. Thereafter, you will have to pick the amount of loan you need and fix your preferred tenure. It is advisable to do some research on your chosen scooter and find out its on-road price. That will help you when you are applying for the loan.
You will be required to pay a standard and nominal processing fee, hypothecation charges and stamp duty cost. That will conclude formalities.