How I Bought My First EV with a Green Loan

How I Bought My First EV with a Green Loan For years, I’d been watching the electric vehicle (EV) market evolve — newer models, better range, and growing support for green mobility. But like many people, I always thought EVs were out of my budget. That changed the moment I discovered green car loans. Here’s how I went from browsing to owning my first EV — all thanks to a green loan that made the switch simple and affordable. Why I Chose an EV It started with rising fuel prices and constant trips to the petrol pump. I was also becoming more environmentally conscious and wanted to reduce my carbon footprint. After test-driving a couple of EVs, I was hooked — the quiet drive, instant acceleration, and low running costs were impossible to ignore. But the upfront cost? Still higher than a regular car. Discovering Green Loans That’s when I came across the concept of green vehicle financing. Unlike regular auto loans, green loans are designed specifically for electric and hybrid vehicles. They offer: Lower interest rates Full on-road price financing Minimal processing fees Tie-ups with government EV subsidies It seemed too good to be true — so I dug deeper. Comparing Loan Options I compared offers from SBI, HDFC, and Tata Capital. SBI’s Green Car Loan stood out with its 100% financing and competitive interest rate of 7.5% per annum. I used their online EMI calculator, checked my eligibility, and applied directly through their website. The process was surprisingly smooth. The Application Process Here’s what I needed: PAN and Aadhaar Salary slips and bank statements (for income proof) Quotation from the EV dealer Within three days, I had my loan approved. SBI transferred the amount directly to the dealership, and I was ready to take delivery. Taking Delivery of My First EV I chose the Tata Nexon EV — a perfect fit for my daily city commute. With government subsidies and the green loan combined, I didn’t pay a single rupee upfront. The EMI turned out to be cheaper than my monthly fuel bills! My EV Life So Far Three months in, here’s what I love: Zero fuel stops Whisper-quiet drive Fewer service center visits Environmental peace of mind And thanks to the loan, I still have my savings intact. Final Thoughts If you\'re on the fence about getting an EV, I’ll say this: a green loan can make all the difference. It removes the biggest hurdle — the cost — and lets you focus on what really matters: driving cleaner, smarter, and guilt-free. So go ahead, explore your options. The future is electric — and it’s more affordable than you think.