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ESAF Bank Launches Electric Vehicle Loan Scheme “Go Green”

Kochi: Thrissur based ESAF Small Finance Bank Limited has announced the latest “ESAF Go Green” range of electric vehicle loan schemes. This launch coincides with COP 26, which is the 26th iteration of the Conference of the Parties to the UN Framework Convention on Climate Change (UNFCCC).

 “ESAF Go green” Loans validate ESAF Small Finance Bank’s social business strategy seeking a triple bottom line impact: people; planet; and prosperity. We believe that these products will help the customers discover the eco-friendly Electric Vehicles at low-interest rate, zero foreclosure charges, minimal processing fee and zero documentation charges.

 The government and local bodies have introduced concessions and incentives to increase the use of electric vehicles which are beneficial to consumers and the environment. The government had also given special consideration in the budget to promote the use of electric vehicles. ESAF Small Finance Bank caters to more than 46 lakhs customers through its 550 banking outlets across 21 states and two union territories.

About the bank

ESAF Small Finance Bank is Kerala’s first small finance bank, started its microfinancing operations in 1995. Founded by K. Paul Thomas, the Thrissur-based bank is a pioneer in developing a formal and structured form of lending at the village level by forming mutually trusted groups. In 2017, it became a small finance bank with the RBI license, becoming the first bank to get licensed post-independence in Kerala.

ESAF was successful in fostering a culture of financial discipline and also encouraged women to become financially stable to support their households in the remote and unbanked/underbanked regions of the country. With their consistent growth and inevitable presence in the market along with good customer relations, the bank has become exceptional covering vast domains with their outlets and ATMs.

This news was shared to Prittle Prattle News via press release.

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