HDFC Bank launches EV loan splitting battery and car body
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HDFC Bank just rolled out a flexible loan scheme for electric vehicles that lets you finance the battery and the car body separately.
Since EV batteries are pricey, you can now choose longer repayment periods and customize your EMIs, making monthly payments feel a lot lighter.
EMI parity aids 30% EV target
The bank says this setup keeps battery loan EMIs close to what you'd pay for running a regular gasoline or diesel car, so switching to an EV won't break the bank.
HDFC Bank said India is expected to see exponential growth in EV adoption in the next few years, and this move supports India's goal of reaching 30% electric mobility by 2030.