- Both banks to offer loans on low interest rates
- IDFC accounts for about 75 per cent of the Ather energy customer base
- Both banks offer loans to new-to-credit customers
Bengaluru-based electric two-wheeler manufacturer, Ather Energy has announced its partnership with HDFC and IDFC First banks. The aim of this partnership is to provide easy financing options to the buyers. Interested buyers can avail of instant loans from HDFC and IDFC First banks at low interest rates and with a maximum LTV (Loan-to-value).
Speaking about this development, Ravneet Phokela, Chief Business Officer, Ather Energy, said that the finance penetration at Ather has grown significantly over the past two years and the company is confident that its partnership with HDFC and IDFC First banks will ensure ease of purchase for customers. Phokela further added that the company will continue to partner with leading banks, NBFCs, and financial institutions to provide lucrative financing options to its consumers.
Ather Energy said in its press announcement that IDFC accounts for about 75 per cent of the Ather energy customer base. It further stated that IDFC and HDFC banks offer loans to new-to-credit customers (those with no credit history), which account for roughly 20 to 25 per cent of the overall Ather customer base.
Ather Energy has witnessed a significant surge in demand for its 450 series. The company has registered a 20 per cent month-on-month growth. Additionally, Ather Energy is also expanding its retail operations.
