Hero Electric Partners with IDFC FIRST Bank for Vehicle Finance, Auto News, ET Auto

Committed to building an ecosystem to propel the electric vehicle transition forward in the country, Hero Electric continues to partner with various banks

New Delhi:

Hero Electric said Thursday it has partnered with IDFC FIRST Bank for vehicle financing. The collaboration allows Hero Electric customers to avail an instant loan on KYC with low processing fees and down payment.

“This partnership with IDFC FIRST Bank will strengthen our penetration into new markets to promote green commutes through transparent financing options. It will significantly benefit our customers by helping commute savings,” said Hero CEO Electric, Sohinder Gill, in a statement.

Committed to building an ecosystem to propel the transition of electric vehicles forward in the country, Hero Electric continues to partner with various banks, NBFCs and financial institutions to expand access and ease of access for its customers, said the maker of electric two-wheelers.

Rishi Mishra, Head of Auto Lending at IDFC FIRST Bank, said the bank’s user-friendly lending solutions, paperless journeys and superior experience will enable Hero Electric to meet the financing needs of its customers.

Read also :

According to a report by credit bureau CRIF High Mark, the lenders’ commercial vehicle portfolio stood at Rs 3.29,000 crore at the end of September 2021, up 1.9% from Rs 3.22,900 crore one year earlier. The number of borrowers increased by nearly 11% to 66 lakh, indicating that lending has declined.

Follow us and join us on Facebook, Linkedin, Youtube

Comments are closed.