Finding an EMI partner for low-speed electric scooters is getting more challenging with each passing day. Every brand offers deals and EMIs that don't align with its banking or NBFC partners.
But Zelio’s banking and NBFC partners like Kotak Mahindra and Bajaj Finserv make sure you can buy low-speed scooters on EMI without burning the pocket.
These partners often offer up to 100% of the on-road cost and easy monthly EMI schemes. You can contact your nearest Zelio dealer, and they can help you avail an EMI that fits into your budget.
Here’s a complete breakdown of these loan partners, benefits, and how to apply for them.
1. Finance Partners for Low-Speed Scooters
As of 2026, conventional banks don’t offer many EMIs on low-speed scooters. That’s why Zelio has partnered with leading Indian NBFCs to make sure you can buy a good scooter without having to worry about the price.
Here are the NBFC partners of Zelio:
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Bajaj Finserv
Bajaj Finserv two-wheeler loans start from₹35,000/- up to 100% of the on-road cost. Here’s a complete breakdown of its EMI process:
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Repayment tenure: From 6 to 18 months, based on buyer’s flexibility.
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Monthly EMIs: Start from ₹1,800/-, depending on the total loan amount, down payment, and the fixed tenure.
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Interest rate: Depends on the eligibility of the buyer, with flexible down payment options.
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Kotak Mahindra Bank
Kotak Mahindra’s two-wheeler loans range between ₹50,000/- and ₹85,000/-, with up to 100% of the on-road cost for Zelio bikes. Here’s a complete breakdown of the EMI process:
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Repayment tenure: Has three ranges depending on the buyer’s flexibility: 12 months, 24 months, 36 months
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Monthly EMIs: Start from ₹1,700/- per month and can go up to ₹7,650/- depending on your loan tenure and EMI scheme.
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Interest rate: Depends on the credit score of the buyer, with flexible down payment options.
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Shriram Finances
Shriram is an NBFC, and their two-wheeler loan ranges between ₹40,000/- and ₹70,000/-, with up to 100% of the on-road cost. Find out the complete breakdown of their EMI process:
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Repayment tenure: Has three ranges depending on the buyer’s flexibility: 12 months, 24 months and 36 months.
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Monthly EMIs: Range between ₹1,770/- and ₹4,840/- if there’s 0 down payment on an electric scooter. For ₹10,000/- down payment, it’ll be ₹1,450/- to ₹3,960/-. For ₹15,000/- down payment, it’ll be ₹1,290/- to ₹3,520/-.
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Interest rate: The interest rate will depend on the buyer’s credit score. But it has flexible down payment options.
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ICICI Bank
ICICI Bank’s loan ranges between ₹50,000/- and ₹80,000/-, with up to 100% of the on-road price. Here’s a full breakdown of their EMI process:
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Repayment tenure: The repayment tenure is divided into three segments: 12 months, 24 months, and 36 months.
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Monthly EMIs: Usually range between ₹1,661/- and ₹7,108/- per month. The EMI amount depends on your loan amount, down payment, and tenure.
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Interest rate: The interest rate generally starts from 10.25% and can go up to 26% per annum, depending on credit score and waiver.
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Ecofy
Ecofy is an NBFC and offers loans for low-speed scooters between ₹25,000/- to 2,50,000/- with up to 90% of the on-road cost. Here’s a full breakdown of their EMI process:
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Repayment tenure: The repayment tenure is divided into multiple segments from 12 months to 48 months.
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Monthly EMIs: EMI ranges between ₹599/- and ₹42,52/- depending on your loan tenure, amount, down payment, and interest rate.
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Interest rate: The interest rate generally starts from 7% and can go up to 12%, depending on credit scores and flexibility.
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Credifin Limited
Credifin Limited offers loans for low-speed scooters between₹35,000/- to₹75,000/- with up to 85% to 100% of the on-road cost.
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Repayment tenure: Their loan tenure ranges between 24 months and 36 months, depending on your budget.
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Monthly EMIs: Their approx. EMI is₹1,900/- to₹2,200/-
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Interest rate: The interest rate is 13% and 14%, depending on your loan amount and EV budget.
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Loantap
Loantap offers loans for low-speed electric scooty between₹20,000/- to₹2,00,000/- with 80% of the on-road cost. Find the full breakdown below:
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Repayment tenure: The loan tenure ranges from 6 to 36 months.
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Monthly EMIs: The EMI is ₹1,500/- to ₹6,110/-
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Interest rate: Starts from 9% PA. But it ranges between 13% to15% PA.
2. Benefits of Paying Electric Scooty Price on EMI
EMI financing will make your purchase easier to manage, but for that you have to make sure the instalments fit your regular budget.
Pro: Financial Flexibility
When you purchase an electric scooty, an EMI will distribute the cost over several months. At the same time, when you get the EMI process rolling, you can start using the scooter without waiting to save the entire purchase price.
Con: Long-Term Running Costs
EMIs that run for a long time can cost you much more than the
Compare the expected running and maintenance costs alongside your EMI to understand the overall monthly expense
3. Steps to Apply for an Electric Scooter Loan
Here is the necessary information you need before applying for a loan to buy an electric scooter. This will help you to keep your finances and loan processing easy:
Calculate Your EMI and Check Eligibility
First of all, check the monthly instalment using the loan amount, interest rate, and tenure. Once you’re done with that, check if you meet the minimum lender income, age, credit history, and other eligibility requirements.
Keep Your Documents Ready
Most lenders will request proof of identity, address, and income, although requirements vary. So make sure to keep your Aadhaar Card, electricity bill or rent agreement, and your bank statements to prove your identity without any hassle.
Apply Through an Available Financing Partner
Your Zelio scooter dealer will have a list of banks and NBFCs who can finance your chosen model. Different types of scooters and battery types will make you eligible for different types of loans.
But remember to review the loan terms before accepting the offer, and confirm the approval, disbursement, and delivery process.
4. How Subsidies and Discounts Affect EMI
Government incentives and dealer discounts also let you pay a lower EMI for your scooty, but their availability depends on the applicable scheme and vehicle eligibility.
Here are a few things to keep in mind:
Verify the Final On-Road Price
Always ask whether any eligible subsidy or discount has already been deducted from the price that has been quoted to you. If it reduces the amount payable upfront, it will also reduce your loan principal and EMI.
Different Scooters, Different Incentives
Don’t assume that every scooter has the same bar for incentives. Always check the current scheme rules, the model's eligibility, and whether the benefit is applied upfront or paid later.
Government Subsidies by State
The incentives available for electric scooters vary by state and depend on the current EV policy, vehicle registration requirements, and battery eligibility. Some states offer purchase incentives or other benefits, while others may not have an active purchase subsidy for electric two-wheelers.
The central government's PM E-DRIVE scheme also has specific eligibility criteria, including requirements for advanced batteries.
If a subsidy is applied upfront, it can reduce the amount you need to finance and potentially lower your EMI. If the benefit is paid later, it may not reduce your initial loan amount.
Conclusion
Compare the total repayment amount, down payment, interest rate, tenure, and eligibility conditions before you buy an electric scooty on EMI. You don’t have to choose a plan based only on its advertised monthly instalment.
If you are considering a practical electric scooter for everyday local travel, check with your dealer for the current on-road price, available financing partners, and the written EMI schedule for your preferred model. This will help you to assess the actual cost before coming to a decision.



