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Shema E-Vehicle scooters Finance
Shema E-Vehicle Two Wheeler Loan EMI
| MODEL | EMI (36 MONTHS) |
|---|---|
| Shema Eagle | Rs. 1,976 |
| Shema Bold | Rs. 2,474 |
| Shema Tuff | Rs. 2,423 |
| Shema Hobby | Rs. 2,487 |
Shema E-Vehicle scooters Finance Schemes
FAQs for Shema E-Vehicle Finance
Q) How is Shema E-Vehicle scooter loan EMI calculated monthly?
A) Shema E-Vehicle scooter 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.
Q) Which documents I need to have to apply for a Shema E-Vehicle two wheeler loan?
A) To get your Shema E-Vehicle scooter 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.
Q) What will be the minimum down payment for a Shema E-Vehicle Bike/Scooter loan?
A) The lenders generally finance 90% of the ex-showroom price of the Shema E-Vehicle 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 Shema E-Vehicle scooter. Down payment is the difference between the on-road price of the Shema E-Vehicle scooter and the amount funded by the lender.
Q) What will be the rate of interest on a Shema E-Vehicle scooter finance?
A) The interest rate primarily depends on the principal amount and tenure of the loan amount of the Shema E-Vehicle two wheeler. Interest rate of lenders generally varies from 9.7% per annum to 15% per annum.
Shema E-Vehicle Scooters Further Research
Popular Shema E-Vehicle Two Wheelers
Shema E-Vehicle EagleRs 64,999 - 1.17 Lakh*- Shema E-Vehicle HobbyRs 82,600*
- Shema E-Vehicle BoldRs 82,200*
- Shema E-Vehicle TuffRs 79,655 - 1.40 Lakh*