New Delhi, Oct. 26 -- HDFC Bank has introduced a new electric car loan that lets borrowers finance the vehicle's body and battery separately, giving them more flexibility and clarity in managing their equated monthly instalments (EMIs).

The country's largest private-sector lender is offering the Flexi (Green) electric car loan to address the high upfront cost of electric vehicles (EVs), largely driven by expensive batteries.

Under the new structure, borrowers can choose separate repayment periods for the body and the battery. The battery component can be repaid over a longer tenure, allowing customers to tailor their overall EMI outgo.

According to the bank, this can keep the battery-related EMI comparable to the running cost of a conv...