Indian Bank has launched IND Green Charge, a dedicated financing scheme designed to accelerate electric vehicle charging infrastructure development across India. The public sector lender is targeting ₹100 crore in loans during the remaining five months of financial year 2026–27, followed by ₹250 crore in 2027–28. Through Indian Bank EV Charging Loans, entrepreneurs, charging operators and businesses can access project financing of up to ₹10 crore with repayment periods extending to eight years.
The initiative could help expand public charging networks, support commercial EV fleets and bring investment into smaller cities as electric mobility adoption gains momentum across India nationwide.
What Is the IND Green Charge?
IND Green Charge is Indian Bank’s financing scheme for public, captive and fleet EV charging stations. It supports standalone and franchise businesses, offering loans up to ₹10 crore with a maximum eight-year tenure. Lending targets are ₹100 crore for FY27 and ₹250 crore for FY28.
Key Highlights of the New Financing Scheme
- ₹100 crore: Lending target for the final five months of FY27.
- ₹250 crore: Target for the following financial year.
- ₹10 crore: Maximum reported loan amount.
- Eight years: Longest available repayment tenure.
- Eligible projects: Public, captive and fleet charging stations.
- Business formats: Standalone operations and franchise models.
Why Indian Bank Is Betting on EV Chargers
India’s electric vehicle expansion is creating demand for dependable charging infrastructure along highways and commercial routes. However, establishing a charging station involves substantial upfront costs for equipment, power connections, installation, electrical upgrades and site preparation.
Financing can ease these barriers for operators lacking capital. Indian Bank EV Charging Loans aim to turn this infrastructure requirement into a structured lending opportunity while encouraging private participation in cleaner transportation.
Managing director and chief executive officer Binod Kumar said the bank had set lending targets of ₹100 crore for the remainder of the current financial year and ₹250 crore for the next year. These are targets, not disbursements.
Which Charging Projects Can Receive Funding?
The scheme accommodates several operating models beyond public chargers. Public stations can serve private EV owners, while captive facilities serve businesses. Fleet charging stations can support taxis, delivery vehicles and businesses.
Both independent entrepreneurs and franchise operators fall within the scheme’s stated scope. Indian Bank has evaluated projects involving alternating current chargers, direct current chargers and higher capacity DC systems, serving different vehicles.
Actual financing will depend on project assessment rather than an automatic entitlement to the maximum loan amount. Interest rates, collateral, margins and fees remain unspecified. Applicants should seek written details from the bank before committing capital.
Commercial Viability Tested Across Charging Technologies
According to Kumar, the bank analyzed charging projects under different utilization scenarios before launching the product. The exercise covered AC, DC, and high-capacity DC configurations and included stress testing to assess commercial feasibility.
Revenues depend heavily on charger utilization. A strategically placed charger serving multiple vehicles daily may generate more predictable income than equipment installed where EV traffic remains limited.
Indian Bank EV Charging Loans therefore reflect a business-focused approach alongside the lender’s sustainability objectives. Project economics, costs and demand forecasts determine repayment capacity.
Smaller Cities Could Join India’s EV Charging Expansion
The initiative is not restricted to metropolitan markets. Indian Bank intends to examine viable charging proposals in smaller cities and semi-urban areas with credible EV demand.
For these locations, the lender will consider local market requirements, suitability of the proposed site, projected charger utilization, and borrowers’ repayment capacity. Viable sites outside established corridors may qualify.
This approach may create opportunities for regional businesses and MSMEs while expanding charging access beyond major cities. Nevertheless, a project’s location alone does not guarantee financing approval.
Growing EV Sales Strengthen the Business Case
Reported industry figures indicate that Indian EV sales increased 29.7% to 26.59 lakh units during 2025–26. Meanwhile, market projections cited alongside the announcement suggest India’s EV charging station industry could expand from ₹6,139 crore in 2025 to ₹21,940 crore by 2030.
These estimates are not guarantees. Charging networks still need sustainable utilisation, a reliable electricity supply, appropriate tariffs and manageable maintenance expenses to operate successfully.
What the Scheme Means for Businesses and EV Owners
For entrepreneurs, Indian Bank EV Charging Loans create another potential route to financing charging businesses without relying entirely on internal capital. The scheme could encourage investment, support local employment and help operators establish facilities for expanding electric fleets.
For EV owners, broader charging availability could eventually reduce concerns about finding convenient charging points, especially beyond large cities. The practical impact, however, will depend on which projects receive approval and how quickly they become operational.
By combining green financing with commercial assessment, IND Green Charge positions Indian Bank to participate in India’s evolving EV infrastructure market. Its success will ultimately be measured by viable stations established, loan performance, and charging access delivered.
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