Hero Electric To Tie Up With HDB Financial Services For Retail Finance

Hero Electric on Wednesday said it has tied up with HDB Financial Services, a non-banking financial company (NBFC), to offer easy financing options for the purchase of electric scooters. The collaboration will enable customers to avail hassle-free loans with minimum documentation on their desired electric scooter, Hero Electric said in a statement.

The financing option will be available to Hero Electric customers across its widespread network of over 700 dealerships in the country, it added. Furthermore, HDB will offer eligible customers benefits like attractive interest rates, flexible tenure options, and affordable EMIs as part of the tie-up. "Electric two-wheelers will become the vehicles for masses in the future, and easy financing is one of the essential cogs in the wheel.

We at Hero have a basket of financers, offering a wide choice of ownership options to suit one's requirements," Hero Electric CEO Sohinder Gill said in a statement. Our partnership with HDB Financial Services is a step forward to offer easy and seamless financing options beyond Tier-1 cities to promote clean and green commuting, he added.

"We are confident that this collaboration will help our customers to substantially save on their commuting costs without having to spend upfront," Gill stated. HDB Financial Services Chief Business Officer Karthik Srinivasan noted that the NBFC will offer flexible and easy financing options for customers across the country to join the electric vehicle revolution.

(PTI)