An Interest-Free Loan to Buy an Electric Bike

This summer, the Eure department introduced an environmentally friendly project featuring interest-free €1,000 loans, with Crédit Agricole Normandie Seine, for local people interested in buying an electric bike.

A few months ago, the Eure department started proposing interest-free loans for people looking to buy an electric bike (with prices ranging from €800 to €3,000). One thousand subscriptions for €1,000 interest-free loans were since reported by Crédit Agricole Normandie Seine.

Interested people have to set up an account on a website for departmental grants and subsidies to go through the required procedures. They must meet two conditions: be residing in Eure and be eligible for a bank loan.

Electric bikes’ environmental performances (lower consumption compared to cars, day-to-day convenience, health-regarding benefits, self-reliance) are particularly highlighted since the point also is to combat air pollution.

Comments – Environment and mobility suiting financial services well

Other, relatively similar, campaigns have been promoted in Eure: last year, interest-free loans were proposed to young customers (ages 18 to 25) who needed to buy a car. Yet, today’s interest in bicycles and electric methods of transportation account for this new project.

Several industry players have already made room for electric bikes in their sets of financing offers. AG2R and Crédit Mutuel-CIC, for instance, relied on this trend to diversify their services while building on innovative mobility and environmental consciousness. And banking institutions also started to pay attention to this trend to meet their customers’ expectations via designing eco-mobility inspired offers.