LoanTap Opens E-2W, Auto News, ET Auto Online Marketplace

New Delhi: LoanTap, a FinTech lender in the country, has launched an online marketplace for electric two-wheelers.

With India’s top brands and over 1,000 dealers all in one place, customers will have a wide range of options to choose from. They can check out the features and choose the bike of their choice without worrying about funds, as LoanTap aims to provide seamless online processing of E-2W loans in the marketplace itself, the company said in a press release.

The market aims to be the one-stop solution to improve clean mobility with loans of up to 80% to 100% of the value of the e-bike to be repaid in EMI over a term of up to 36 months.

LoanTap said its E-2W loan will help finance e-bikes in the range of INR 20,000 to INR 200,000. Anyone with a minimum income of INR 10,000 and over the age of 21 is eligible to apply, and the company will facilitate E-2W loan approvals and disbursements within 24 hours.

Satyam Kumar, CEO and Co-Founder of LoanTap, said, “Making electric vehicles a practical option for everyone is our ultimate goal and we are doing so by introducing the first-of-its-kind E2W marketplace. As the nation’s leading FinTech NBFC, we understand the needs of millennials and their aspirations. On this path of economic and environmental revolution, LoanTap aims to make travel flexible, convenient and affordable for all its customers.

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