VinFast India has struck a game-changing partnership with State Bank of India, providing financing options for VinFast’s full range of vehicles, including competitive interest rates, flexible repayment terms, and up to 100% on-road funding. This strategic alliance positions Vietnam’s electric vehicle giant to make premium EVs accessible to millions of Indian consumers ahead of their VF 6 and VF 7 model launches.
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SBI’s Green Car Loan: The Perfect Match
The partnership leverages SBI’s established Green Car Loan program, which offers further concession of 25 BPs in applicable rate of interest for normal car loan across the category of customers specifically for electric vehicles. This means EV buyers enjoy significantly lower interest rates compared to conventional vehicle financing.
SBI Green Car Loan Benefits:
| Feature | Traditional Car Loan | SBI Green Car Loan |
|---|---|---|
| Interest Rate | 8.80%-9.80% | 8.75%-9.45% |
| Processing Fee | Standard charges | Zero processing fee |
| Loan Amount | Up to 90% | Up to 100% on-road |
| Repayment Period | 3-7 years | 3-8 years |
Strategic Market Entry Support
G. S. Rana of SBI highlighted that affordable financing is key to mass EV adoption, linking the deal to the bank’s green push and its ₹128 crore already raised for EV loans. This partnership comes at the perfect time as VinFast prepares to launch its first Indian products.
The collaboration includes priority processing and dedicated SBI representatives stationed at VinFast dealerships, ensuring seamless customer experience from vehicle selection to loan approval.
VinFast’s Dual Banking Strategy
VinFast isn’t putting all eggs in one basket. Under the agreement, customers will enjoy tailored financing solutions, including attractive interest rates, flexible repayment options, up to 100% on-road funding, exclusive offers and priority services—applicable across VinFast’s entire product portfolio, while also maintaining partnerships with HDFC Bank for comprehensive market coverage.
Government Policy Alignment
This partnership aligns perfectly with India’s EV financing ecosystem. The government’s FAME II scheme provides purchase incentives, while SBI’s Green Car Loan offers financing support. The National Electric Vehicle Incentives framework further reduces ownership costs, creating a perfect storm for EV adoption.
Market Impact: Democratizing Premium EVs
VinFast’s Vietnamese engineering excellence, combined with SBI’s financing muscle, could disrupt India’s premium EV segment. The partnership ensures that high-quality electric SUVs become accessible to India’s growing middle class, not just premium buyers.
Key Advantages for Indian Consumers:
- 100% on-road financing: No upfront payment required
- Competitive interest rates: Lower than conventional car loans
- Priority processing: Faster loan approval at dealerships
- Flexible repayment: Up to 8-year loan tenure
Looking Ahead: VF 6 and VF 7 Launch Strategy
As VinFast gears up for the launch of its VF 6 and VF 7 models, this partnership highlights the company’s ongoing efforts to establish a strong and customer-focused footprint in India. The partnership comes ahead of VinFast’s planned debut of its VF 6 and VF 7 models in India, with financing benefits covering its entire product range.
The Bigger Picture
This partnership represents more than just financing—it’s about making premium electric mobility accessible to every Indian family. With SBI’s pan-India presence and VinFast’s innovative EVs, India’s electric revolution gets a major boost.
For comprehensive coverage of EV financing options and policy updates, visit IndiaEVNews.com for detailed analysis and comparison guides.
The VinFast-SBI partnership proves that when global innovation meets Indian banking expertise, the result is accessible electric mobility for all.
