Question 1

How is Oben Electric bike loan EMI calculated monthly?

Accepted Answer

Oben Electric bike loan EMIs include the principal amount as well as the interest i.e. EMI = Principal Amount + Interest on Principal amount. Mathematically, EMI can be calculated using the following formula:
{P x R x (1+R)^N / [(1+R)^N-1]}
where, P = Principal amount of the loan, R = Rate of interest and N = Number of monthly installments.

Question 2

Which documents I need to have to apply for a Oben Electric two wheeler loan?

Accepted Answer

To get your Oben Electric bike loan application with the selected lender, you would be required to submit your KYC documents, which include your identity proof and current address proof, a copy of your PAN Card, your bank statement and your income proofs (Form 16/Salary Slips/ITR). You can get the exact requirement from your loan consultant after applying with us.

Question 3

What will be the minimum down payment for a Oben Electric Bike/Scooter loan?

Accepted Answer

The lenders generally finance 90% of the ex-showroom price of the Oben Electric two wheeler. Some customers might be eligible for 100% funding too. This means the minimum possible down payment that you have to pay includes the RTO and insurance charges for the Oben Electric bike. Down payment is the difference between the on-road price of the Oben Electric bike and the amount funded by the lender.

Question 4

What will be the rate of interest on a Oben Electric bike finance?

Accepted Answer

The interest rate primarily depends on the principal amount and tenure of the loan amount of the Oben Electric two wheeler. Interest rate of lenders generally varies from 9.7% per annum to 15% per annum.

Oben Electric bikes Finance

Oben Electric Two Wheeler Loan EMI