Electric Vehicle

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Purpose

The Electric vehicle market poses a diverse range of segments, especially within the two and three-wheeler (both L3 and L5 category) market. Our aim is to support the nation’s emerging interest and initiative in green, sustainable, and renewable energy. While gaining continuous expertise in EV leasing and financing, we aim to be one of the largest EV financing leaders by 2025.

Loan Products

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Retail Segment

To encourage revenue generation for individual owners of electric three-wheeler and four-wheeler vehicles, we aim to make these assets accessible through flexible EV financing products, which can be used for both passenger and commercial purposes and engenders to be a close-ended credit product.

Enterprise Segment

ALPL also serves corporates, fleet operators, third-party logistics operators, FMCGs, and OEMs, and many more for commercial, transportation, and supply purposes. We provide loan for electric three and four-wheelers against asset hypothecation to eligible organizations.

An eligible and a prospective borrower will get an approval for a fixed sum of money for a maximum tenure of 18 or 36 months, depending on type of vehicle. The borrower has the option to pay back through daily, weekly, fortnightly, and monthly installments constituting interest and principal amount. We charge interest on the amount lent net of applied fees/charges.

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Market Segment

Proven Experience In

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FMCG   Companies

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e-Commerce Companies

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Third Party Logistics

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Multi OEMS Companies

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Fleet Aggregator Companies

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Food Supply Companies

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Passenger Vehicle Operator

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Courier Companies

A- Electric Three & Four Wheeler Loan

Product Details
Loan Amount Maximum Rs. 3 lacs or up to 90% of Vehicle On-road Price. Minimum loan amount Rs. 1 Lacs
Loan Term 6 - 36 Months
Interest Rate Economically suited Interest rate for all segments


Mandatory Requirements
KYC documents As per approved KYC Policy
Vehicle Documents Vehicle Registration Certificate. Vehicle Insurance, Tax Invoice
Others IOT/tracking devices in vehicle through our approved vendors


Eligibility Criteria
Customer Age Greater than 18 years at the time of loan application and lesser than 65 years at the time of loan closure
Property Holding With House /Commercial property proof in name of hirer or his / her family member (Father or Mother or Spouse)
Residence Stability Minimum 2 years on provided address
Bank Statement 6-month bank statement
Documents Required 6 security cheques

B - For Individual borrower with existing fleet buying Electric Vehicle/s for commercial purpose.

Product Details
Loan Amount Maximum Rs. 10 lacs or up to 90% of Vehicle On-road Price. Minimum loan amount Rs. 1 Lacs
Loan Term 6 - 36 Months
Interest Rate Economically suited Interest rate for all segments


Mandatory Requirements
KYC documents As per approved KYC Policy
Vehicle Documents Vehicle Registration Certificate. Vehicle Insurance, Tax Invoice
Others IOT/tracking devices in vehicle through our approved vendors


Eligibility Criteria
Customer Age Greater than 18 years at the time of loan application and lesser than 65 years at the time of loan closure
Property Holding With House /Commercial property proof in name of hirer or his / her family member (Father or Mother or Spouse)
Residence Stability Minimum 2 years on provided address
Bank Statement 6-month bank statement
Documents Required SRTO declaration, 6 Security cheques

C- For Corporate to buy an Electric Vehicle to drive for captive business

Product Details
Loan Amount Maximum Rs. 20 lacs or up to 90% of Vehicle On-road Price. Minimum loan amount Rs. 1 Lacs
Loan Term 6 - 36 Months
Interest Rate Economically suited Interest rate for all segments


Mandatory Requirements
KYC documents As per approved KYC Policy
Vehicle Documents Vehicle Registration Certificate. Vehicle Insurance, Tax Invoice
Others IOT/tracking devices in vehicle through our approved vendors


Eligibility Criteria
Customer Age Greater than 18 years at the time of loan application and lesser than 65 years at the time of loan closure
Property Holding With House /Commercial property proof in name of hirer or his / her family member (Father or Mother or Spouse)
Residence Stability Minimum 2 years on provided address
Bank Statement 6-month bank statement
Documents Required Audited financial statement of last two years, 6 Security cheques
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What our clients say

See below what our clients say about our loan service.

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