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Electric vehicles, or e-vehicles, are becoming an increasingly popular alternative to traditional gasoline-powered vehicles. They use electricity as their primary source of power, and produce little to no emissions, making them an environmentally-friendly option for transportation. Currently, the Indian electric vehicle financing market is valued at USD 2.15 billion, and it is expected to reach USD 4.37 billion, registering a CAGR of above 15% over the next five years.
Financing the future of mobility, this product aims to enable every Indian to be able to buy not just the transport of their choice, but the most eco-friendly transport as well. We at Monedo aim to grow with India and one of the key features of this growth is sustainability. We provide customers with access to flexible financing options that helps them purchase the electric vehicle of their choice without a burden on their bank account. Our customers can visit any of our partner stores and select the vehicle of their choice and avail the best financing option through Monedo. We do provide finance for registered and non-registered two-wheeler vehicles.
Features
• Increases the Purchasing power of the borrower with Easy Finance available
• Buyer can pay in easy installments upto 24 months
• Finance available for both registered and non-registered two-wheeler vehicles
• Ease on the process and fast approval
Benefits
• Quick Approval
• Upto 80% of Invoice value
• 100% Digital Process
• Minimal documentation
Documents required to avail Electric Vehicle Loan
Processing fees : 2% to 5% + Applicable Taxes of the loan amount
Bouncing Charges : Rs.295 per bounce (Including GST)
Penal Charges : 0.067% per day (24.46% per annum)
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Monedo is the trade name of Monedo Financial Services Private Limited
We all are reading about instant loan apps which are involved in illegal lending and unfair recovery cc practices. Since these apps are not registered with the regulator (RBI) for any sort of lending, we urge our readers not to fall prey to such unauthorized platforms. These apps are unlawful and take wrong steps when comes to collection using the data on the mobile phones of customers.
RBI has warned individuals and small businesses against falling prey to an increasing number of unauthorized digital lending platforms.
In the current scenario, we would like to state the Monedo Financial Services Private Limited, a registered NBFC under RBI has no customer app and all lending and collections are done in legal and ethical ways as prescribed by RBI.
We only lend to customers as per internal policies and thus request customers to be aware of the same and loan amount depends on our proprietary algorithms depending on customers ability to pay. Our internal policies and practices ensure ethical lending and recovery.
Monedo cautions against loans being offered by unauthorized digital platforms, mobile applications promising a quick and hassle-free process. Please do not trust any messages, links, online forms, calls and apps asking for any payments impersonating as Monedo Financial Services Private Limited, to avoid any such mishap beware of hoax/fraudulent activities. These platforms always have hidden charges, adopt unacceptable high-handed recovery methods and misuse agreements to access data on mobile phones of borrowers.
Consumers should never share copies of Know Your Customer (KYC) documents with unidentified persons, unverified/unauthorized apps and should report such incidents at contact@monedo.in and 022-6817 3300 for queries and questions. Transact only through genuine channels or through our company executives and authorised partners.
We abide by the regulations and guidelines by The Reserve Bank of India with no exceptions.
We will continue to strive to keep this service ethical and within regulatory parameters at all times.
We look forward to being your trusted partner in terms of need.
Regards, Team Monedo Financial Services