Montra Electric has signed an MoU with Bansal Credits to offer financing across its entire EV range, covering Delhi NCR, Uttar Pradesh and Punjab.
Key points
- What The Financing Agreement Actually Covers
- Where This Financing Will Be Available
- Conclusion
- Frequently Asked Questions on Commercial Vehicles
- Join us for the latest updates on the truck industry
Montra Electric has signed a Memorandum of Understanding with non-banking financial company Bansal Credits Limited to extend vehicle financing options across its complete product line.
What The Financing Agreement Actually Covers
Table Of Contents
|
1. What The Financing Agreement Actually Covers |
|
2. Where This Financing Will Be Available |
|
3. Conclusion |
► Read More: Ashok Leyland Strengthens Maharashtra Presence with New LCV Dealership in Ratnagiri
Under the agreement, Bansal Credits will provide credit solutions for Montra Electric's full range of vehicles, including electric three-wheelers, electric small commercial vehicles, electric medium and heavy commercial vehicles, and electric tractors. The financing services will be integrated directly into Montra Electric's existing dealership network, meaning buyers won't need to arrange a loan separately through a bank branch or a third-party aggregator — it's built into the same purchase process as the vehicle itself.
That's a meaningful detail for anyone buying an electric commercial vehicle for the first time, since financing terms for EVs haven't always matched the ease of getting a loan on a diesel equivalent. Bringing the lender directly into the dealership workflow tends to speed up approval and reduce the back-and-forth that often slows down commercial vehicle purchases.
Where This Financing Will Be Available
The collaboration focuses on regional markets across Northern India where Bansal Credits already operates — specifically Delhi NCR, Uttar Pradesh and Punjab. The stated goal is to accelerate credit processing and offer structured loan options for commercial operators and buyers adopting electric vehicles in these markets. Limiting the rollout to states where Bansal Credits has existing operational strength is a sensible way to launch this kind of tie-up, since a lender's ability to actually process and disburse loans quickly tends to matter more than how broad the geographic coverage looks on paper.
Conclusion
MoUs like this one are becoming a familiar pattern across the Montra commercial vehicle space — manufacturers pairing up with regional NBFCs to remove financing friction that's historically slowed EV adoption more than the vehicles themselves. For Montra Electric, extending this across its entire range, from three-wheelers to heavy trucks and tractors, gives Northern India buyers a more structured route into electric ownership than piecing financing together on their own.
► You Might Like: Ashok Leyland Wins Rs 222.65 Crore Arbitral Award Against Delhi Transport Corporation
Frequently Asked Questions on Commercial Vehicles
Q1. Which Montra Electric vehicles does this financing partnership cover?
Ans. The agreement covers Montra Electric's full range, including electric three-wheelers, small commercial vehicles, medium and heavy commercial vehicles, and electric tractors.
Q2. Which regions is this financing scheme available in?
Ans. The tie-up currently covers Delhi NCR, Uttar Pradesh and Punjab, where Bansal Credits already has operational presence.
Q3. Do I need to visit a bank separately to get financing under this scheme?
Ans. No, the financing services are integrated directly into Montra Electric's dealership network, so the loan process happens alongside the vehicle purchase.
Q4. Who is Bansal Credits Limited?
Ans. Bansal Credits Limited is a non-banking financial company operating primarily in Northern India, offering structured loan options for commercial vehicle buyers and operators.