HDFC Bank introduces electric car loan, offering differential loan proportions

SENSEX 73,123.83

 -125.56

NIFTY 22,600.00

 -87.65

CRUDEOIL 9,783.00

+ 299.00

GOLD 142,160.00

 -1,149.00

SILVER 195,900.00

 -3,699.00

SENSEX 73,123.83

 -125.56

NIFTY 22,600.00

 -87.65

NIFTY 22,600.00

 -87.65

CRUDEOIL 9,783.00

+ 299.00

CRUDEOIL 9,783.00

+ 299.00

GOLD 142,160.00

 -1,149.00

'; } document.getElementById("lgdv").innerHTML = htmlElements; } function numberformat(i) { return Number(parseFloat(i).toFixed(2)).toLocaleString('en', { minimumFractionDigits: 2 }) } async function gatherResponse(response) { const { headers } = response; const contentType = headers.get('content-type') || ''; if (contentType.includes('application/json')) { return await response.json() } return response.text(); } function getWidth() { if (Math.max(document.body.scrollWidth,document.documentElement.scrollWidth,document.body.offsetWidth,document.documentElement.offsetWidth,document.documentElement.clientWidth) > 991) { document.getElementById("mob").style.display = "none"; document.getElementById("lgdv").style.display = "block"; } else { document.getElementById("mob").style.display = "block"; document.getElementById("lgdv").style.display = "none"; } } getWidth(); THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS.THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS.

HDFC notes that the prevailing cost structure of EVs makes the acquisition cost of the vehicles higher compared to ICE (Internal Combustion Engine) vehicles due to expensive batteries

By BL Mumbai Bureau

Updated - October 25, 2026 at 01:56 PM.

HDFC Bank has launched a flexi (green) electric car loan, offering differential loan proportions for the body and battery of the Electric Vehicle (EV). | Photo Credit: SHAILESH ANDRADE

HDFC Bank has launched a flexi (green) electric car loan, offering differential loan proportions for the body and battery of the Electric Vehicle (EV).

“The battery loan can be repaid over a longer term. This will allow the flexibility to customise the EMI outflow (differential loan tenor – curated outflow),” according to a statement issued by India’s laergest private sector bank.

The Bank noted that the prevailing cost structure of EVs makes the acquisition cost of the vehicles higher compared to ICE (Internal Combustion Engine) vehicles as batteries are the most expensive component of an electric vehicle.

“The EMI portion for the battery will be comparable with the running cost of an ICE vehicle. This approach also aligns with evolving battery subscription models which are making EV ownership more accessible and cost-effective,” the Bank said.

Arvind Vohra, Group Head – Retail Assets & Rural Banking, HDFC Bank said, “The EV revolution in India is fast gaining momentum, supported by government incentives, push for improved technological landscape and judicious policies.

“Our flexi electric car loan is one more step in that direction as India is set to embrace the EV revolution. Further, we believe this loan will play a pivotal role in making the EV ownership a cost-effective, seamless and hassle-free journey.”

Referring to recent reports, HDFC Bank noted that India is expected to see an exponential growth in the EV adoption, with the share of passenger cars in EV segment expected to touch 15-20 per cent by 2030 from the current 7 per cent, making India one of the key markets for passenger EVs.

In addition, Government’s mission for 30 per cent electric mobility by 2030 is expected to give fillip to EV adoption in the country, coupled with improved battery technology and expansion in product portfolios by OEMs. 

Published on October 25, 2026

THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS. THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS. THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS. THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS.Sign into Unlock benefits!

• Access 10 free stories per month
• Get notified by email for early preview to new features, discounts & offers