ELECTRIC MOTOR VEHICLE ADVANCE
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INTEREST
RATE |
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Nil |
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MAX.
AMOUNYT THAT CAN BE SANCTIONED |
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75% of the cost of the Electric Vehicle (Ex-showroom
price) |
Subject to |
Maximum 15 lakh in case of electric operated motor
car |
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Subject to |
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CAN BE APPLIED BY |
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31ST
December 2025 |
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WHO
CAN APPLY |
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EMPLOYEE
CATEGORY |
AMOUNT |
CAP |
REMARKS |
|
Group-A & B |
75% of the cost of the Electric Vehicle (Ex-showroom
price) |
15 lakh for 4 wheeler and 2 lakh for 2 wheeler as the case may be |
Tough eligible for both 2 wheeler & 4 Wheeler, can avail either of one advance at a time |
|
Group-C & D |
75% of the cost of the two wheeler Electric Vehicle
(Ex-showroom price) |
2 lakh for 2 wheeler |
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REPAYMENT |
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In maximum 100 consecutive monthly installments from
subsequent months |
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WHAT NEED TO BE PRODUCED TO SANCTIONING
AUTHORITY WITHIN 3 MONTH AFTER AVAILING THE ADVANCE
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-Copy of registration certificate - Insurance -Retail invoice of the vehicle |
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