The non‑RTO EV opportunity
India sold over 1.4 million low‑speed electric scooters in FY2026. These vehicles are treated as consumer durables under the Motor Vehicles Act — no licence, no registration, no insurance mandate. Perfect for students, homemakers, delivery agents and senior citizens.
But most vehicle loan products require an RTO registration certificate as collateral proof. This locks non‑RTO EV dealers out of traditional two‑wheeler finance.
How ZepCart finances non‑RTO EVs
ZepCart routes non‑RTO EV leads through consumer‑durable loan products offered by our NBFC partners. The scooter is treated as an appliance, not a vehicle — so no RC copy is required.
- Ticket size supported: ₹25,000 to ₹1,20,000
- Tenure: 6, 9, 12, 18 or 24 months
- No‑cost EMI and low‑cost EMI variants
- Approval in 3–5 minutes with Aadhaar + PAN
- T+1 net settlement to the dealer
Documents needed at the dealer counter
The customer walks in with a phone. That is enough.
- Aadhaar (for eKYC)
- PAN card
- One selfie for live liveness check
- Bank account for NACH mandate
Dealer economics
On a ₹65,000 e‑scooter financed at 12 months no‑cost EMI, the merchant subvention is typically 4–7%. ZepCart deducts processing fee + GST and settles the net amount to the merchant on T+1. Full breakdown is visible in the merchant portal before the lead is submitted.
Frequently asked questions
Do customers need a driving licence?
No. Low‑speed electric scooters (peak power ≤ 250 W and top speed ≤ 25 km/h) are exempt from licence, registration and insurance under the Motor Vehicles Act.
Which NBFCs finance non‑RTO EVs on ZepCart?
Bajaj Finserv, IDFC FIRST, Tata Capital, Hero FinCorp and TVS Credit currently offer consumer‑durable loan variants for non‑RTO electric two‑wheelers.
Can I offer no‑cost EMI on EV scooters?
Yes. ZepCart supports 0% no‑cost EMI plans where the merchant absorbs the interest as subvention.
Want ZepCart at your store?
ZepCart onboards merchants by invitation. Talk to our team to activate no‑cost EMI, EV finance and consumer‑durable loans at your counter.
Request an invitation