Indo Wagen Partners with Finance Companies for Special Loan Programs

Indo Wagen has announced strategic partnerships with three leading financial institutions to offer specialized loan programs for E-rickshaw purchasers. These partnerships aim to make financing more accessible and affordable for individual operators and small fleet owners.

The partner institutions include a major national bank, a regional rural bank, and a microfinance organization, ensuring options for customers across different financial profiles. The programs offer:

• Reduced interest rates (up to 2% lower than standard vehicle loans)
• Extended repayment periods of up to 5 years
• Lower down payment requirements (starting from 10%)
• Simplified documentation process
• Special schemes for first-time business owners and women entrepreneurs

"Financial accessibility is often the biggest barrier to adoption of electric vehicles, especially for small operators," explained Neeraj Joshi, Director of Sales at Indo Wagen. "These partnerships address that challenge directly, making the transition to electric mobility financially viable for more people."

The financing programs also include insurance coverage with special premiums for electric vehicles and maintenance packages that cover battery health checks and routine servicing.

Particularly innovative is the "Drive Now, Pay Later" scheme that allows operators to start earning with their E-rickshaw before making their first payment, with a 60-day moratorium period on loan repayment.

Indo Wagen's dealership staff have been trained to guide customers through the loan application process and help them select the financing option that best suits their individual circumstances.

The company expects these new financing options to boost sales by approximately 30% and support the growing demand for E-rickshaws in both urban and rural markets.