Wednesday, September 22, 2021

These banks are giving loan for Ola electric scooter, EMI of just Rs 2,999

Ola recently launched its first electric scooter Ola S1 in the domestic market. Now the company has announced that it is partnering with various banks in the country to provide finance facility for this scooter. Ola Electric has partnered with various leading banks and financial institutions including HDFC Bank, ICICI Bank, Kotak Mahindra Prime and Tata Capital to provide loans to its customers.

Other banks with which Ola has tied up include Bank of Baroda, Axis Bank, IDFC First Bank, IndusInd Bank, AU Small Finance Bank, Jana Small Finance Bank and Yes Bank. Let us tell you that the sale of Ola S1 electric scooter is going to start from 8th September.

Varun Dubey, Chief Marketing Officer, Ola Electric, in his statement to the media said, “We have tied up with all major banks and (financial) institutions. We will start the financing process for the scooter with many of them on 8th September. This service will be started soon along with other banks, which can be availed by the customers.

He added that “when customers start buying electric scooters online, the whole process will become “very smooth”. Those who choose to finance the scooter will be provided with all the information regarding the scooter and loan. What is the sanction amount, or what do they need to do. Besides, we also have very attractive finance option with just Rs 2,999 monthly installment (EMI).”

How is this Ola electric scooter:

The company has launched this scooter in two variants S1 and S1 Pro. The price of Ola S1 has been fixed at just Rs 85,099 and the price of S1 Pro variant has been fixed at Rs 1.10 lakh. This price is as per Delhi and includes the subsidy given by the state. The lowest price of this scooter is in Gujarat where S1 model costs Rs 7,9,999 and S1 Pro costs Rs 109,999 after including state subsidies.

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The company has given an artificial sound system in this scooter, so that you can change the sound of the scooter according to your mood. In this scooter, the company has given 4G connectivity system, so that it remains connected to the internet all the time. You can operate all the features by connecting your smartphone to this scooter, which also includes the lock/unlock system of the scooter.

In the Ola electric scooter, the company has given a battery pack of 3.9 kWh capacity and its electric motor generates 8.5 kW of peak power. The company claims that its battery will be fully charged in about 6 hours with a portable charger of 750W capacity. Apart from this, this battery can be charged up to 50% in just 18 minutes with the company’s supercharger. Ola claims that this electric scooter gives a driving range of 180 to 190 kms once fully charged.

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Note: The information given here about finance is based on media reports, for complete information about it, visit the official website of the company. Apart from this, you can also contact the bank regarding this.


These banks are giving loan for Ola electric scooter, EMI of just Rs 2,999
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