IndusInd Bank has extended its agreement with Lohia Auto Industries for financing their electric three wheelers under the e-rickshaw category. This is in addition to the financing of diesel vehicles which the bank already provides. Through this partnership, the bank will offer retail vehicle finance at attractive rates of interest to the customers of Lohia Auto, for all Lohia 3-wheeler electronic and diesel models. This partnership will simplify the process for customers to take up three wheelers by providing loans which are hassle free and competitively priced.
The Memorandum of Understanding (MoU) between IndusInd Bank and Lohia Auto Industries was signed on May 25, 2016 for diesel vehicles and has now been extended to the electronic 3-wheeler segment. Since May 25, 2016, IndusInd Bank has financed close to 7.10 lakh 3-wheelers vehicles as a part of this association.
Both the entities are established names in their respective segments and are known for their reliability, and large distributor network. The loan facility will be available in almost in every part of the country namely Bihar, Madhya Pradesh, Jharkand, Punjab, Rajasthan, Maharashtra, Goa, Gujarat, Karnataka, Kerala & Uttar Pradesh.