Question 1

How is Techo Electra scooter loan EMI calculated monthly?

Accepted Answer

Techo Electra 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.

Question 2

Which documents I need to have to apply for a Techo Electra two wheeler loan?

Accepted Answer

To get your Techo Electra 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.

Question 3

What will be the minimum down payment for a Techo Electra Bike/Scooter loan?

Accepted Answer

The lenders generally finance 90% of the ex-showroom price of the Techo Electra 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 Techo Electra scooter. Down payment is the difference between the on-road price of the Techo Electra scooter and the amount funded by the lender.

Question 4

What will be the rate of interest on a Techo Electra scooter finance?

Accepted Answer

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

MODEL	EMI (36 MONTHS)
Techo Electra Emerge	Rs. 2,208
Techo Electra Neo	Rs. 1,684
Techo Electra Raptor	Rs. 2,309
Techo Electra Saathi	Rs. 1,903

Techo Electra scooters Finance

Techo Electra Two Wheeler Loan EMI