Choose our car loan balance transfer and top-up and switch your existing car loan for better terms. Get a high-value top-up loan with minimal documentation and simple eligibility criteria. Repay your loan comfortably over flexible tenures ranging from 12 months to 0 months. Apply now and get the funds you need in just 48 hours* of approval.
Key features
Get a loan amount that covers the complete value of your car.
Get your in-principle sanction letter on approval of the loan.
You only need a few basic documents such as your KYC, income proof, bank statements, and car papers.
Plan your loan repayment and choose tenure that suits you best.
How to apply for a Car Loan Balance Transfer
How to transfer your Car Loan
Click on the 'APPLY NOW' button on this page.
Enter your 10-digit mobile number and submit the OTP for verification.
Fill in the application form with your information, such as your date of birth and employment details among others.
Enter the details of your car, such as the make and model, active loan, year of purchase and more.
Verify or update your KYC details and proceed to schedule an appointment for further verification.
Once you fill in all the details, click on ‘SUBMIT’ to finish your application.
Our representative will call you on the provided number for the next steps.
Features and benefits
How to apply for Used Car Loan?
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Loan amounts ranging from Rs. 1 lakh to Rs. 52 lakh
Transfer the balance of your existing car loan and get a high-value top-up of up to 180% of the car’s value within the range from Rs. 1 lakh to Rs. 52 lakh.
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Flexible tenures
Repay your loan easily with convenient repayment options ranging from 12 months to 0 months.
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Immediate processing
In most cases, you will get the car loan balance transfer and top-up amount credited to your account within 48 hours of approval*.
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Premium services
Get additional services such as car insurance, life insurance, financial fitness report, and GPS tracker at a very nominal cost.
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Doorstep assistance
Get doorstep support to complete your loan application process – from collecting documents to transferring your registration certificate.
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No hidden charges
Our fees and charges are clearly mentioned on our loan documents and on this page. Read them in detail before applying.
Eligibility and documents
How to transfer your Car Loan?
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There are just a few simple criteria to be eligible for our car loan balance transfer and top-up. Once you meet all the criteria, you need very few documents to finish your application process.
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Eligibility criteria
- Nationality: Indian
- Age: 21 to 80 years*
- For salaried employees: Individuals should have at least 1 year of experience and a minimum monthly salary of Rs. 20,000
- CIBIL Score: 650 or higher is required
- For self-employed individuals: Applicants must submit an ITR proof for the last 2 years
*You should be 80 years or younger at the end of the loan tenure.
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Documents required
KYC documents: Aadhaar/ PAN card/ passport/ voter’s ID
Employee ID card
Bank statements for the last 3 months
Salary slips for the last 3 months
- Vehicle registration certificate and insurance copy
*Terms and conditions apply
Applicable fees and charges
Type of fee |
Applicable charges |
Rate of interest |
10% to 18% p.a. |
Processing fee |
Up to 2.95% of the loan amount (inclusive of applicable taxes). |
Documentation charges |
Up to Rs. 2,360 (inclusive of applicable taxes). |
Prepayment charges |
Full Pre-payment (Foreclosure) Charges: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount payable by the borrower as on the date of such full pre-payment. Part Pre-payment Charges: Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part-prepayment. |
Bounce charges |
Rs. 1,500 per bounce “Bounce Charges” shall mean charges levied on each instance in the event of: (i) dishonour of any payment instrument irrespective of whether the customer subsequently makes the payment through an alternate mode or channel on the same day; and/or (ii) non-payment of instalment(s) on their respective due dates where any payment instrument is not registered/furnished; and/or (iii) rejection or failure of mandate registration by the customer’s bank. |
Penal charge |
Delay in payment of instalment(s) shall attract Penal Charge at the rate of Up-to 24% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount. |
Stamp duty (as per respective state) |
Payable as per state laws and deducted upfront from loan amount |
Repossession charges |
Recovery of charges maximum up to Rs. 50,000 (inclusive of applicable taxes) |
NOC for interstate transfer |
Rs. 1,180 (inclusive of applicable taxes). |
NOC to convert from private to commercial |
Rs. 3,540 (inclusive of applicable taxes). |
Other NOC |
Rs.1,180 - (inclusive of applicable taxes). |
Frequently asked questions
Overview
Eligibility
Document
Repayment
Others
What is a car loan balance transfer and top-up facility?
Car loan balance transfer and top-up is a facility where you can transfer your existing car loan to Bajaj Finance and can also get some extra funds as a top-up based on your car’s valuation. Read to know how to apply for a car loan balance transfer and top-up.
How does the car loan balance transfer and top-up work?
With car loan balance transfer and top-up, you can transfer your existing car loan to Bajaj Finance Limited and get a top-up of up to 180% of your vehicle’s value. However, the maximum loan amount is up to Rs. 52 lakh.
Is the CIBIL Score important for getting a car loan balance transfer and top-up?
Your CIBIL Score plays a vital role in getting a car loan balance transfer and top-up. CIBIL Score must be 650 or above to be eligible for this facility.
Do I need a guarantor to avail of a car loan balance transfer and top-up?
You do not need a guarantor to avail of a car loan balance transfer and top-up. However, if your income does not meet our credit criteria, then you may require a guarantor to get a loan.
Q. What is the rate of interest on a car loan balance transfer and top-up?
Bajaj Finance Limited offers a car loan balance transfer and top-up loan at an interest rate starting at 10% p.a.
Does it require vehicle verification or valuation of the car?
To make your loan application procedure simple and seamless, we perform vehicle valuation and verification as a part of the loan application process.
What are the tenure options for a car loan balance transfer and top-up?
With Bajaj Finserv Car Loan Balance Transfer and Top-up, you can repay the loan over tenures ranging up to 0 months.
Can I get funding for new cars?
This facility is available only to transfer an existing loan to Bajaj Finance and get a top-up amount.
Which cars can be financed?
With a car loan balance transfer and top-up, you can fund any private vehicle of your choice.
However, we do not provide funding for:
Yellow plate or commercial vehicles.
Vehicles owned by more than 3 previous customers.
Vehicles with an age of more than 10 years on loan completion.
What our customers say about us
Aditya Verma
13 Jul 2025
“I got a used car loan from Bajaj Finserv and the process was super smooth. The application was completely online, documentation was minimal, and my loan got approved quickly. The EMI options were flexible and suited my budget perfectly. Very satisfied with the overall experience.”
Rohit Sharma
22 Aug 2025
“Bajaj Finserv made buying a second-hand car really easy for me. The interest rate was competitive, and the approval came faster than I expected. The customer support team was helpful and guided me at every step. Highly recommended for anyone planning to buy a used car.”
Ashwin Kamble
01 May 2025
“I was worried about getting a loan for a used car, but Bajaj Finserv made it hassle-free. From easy application to quick disbursal, everything was well managed. The EMIs are affordable and transparent, with no hidden charges. Great service overall.”
Rekha Sharma
13 Jun 2025
“The used car loan process with Bajaj Finserv was quick and stress-free. I liked how clear the terms were and how fast the approval came through. The EMIs are affordable, and the entire journey was transparent from start to finish.”
Sejal Lalchandani
15 Apr 2024
“Buying a second-hand car became much easier with Bajaj Finserv. The online application saved a lot of time, and the loan amount covered most of the car value. Smooth experience, quick disbursal, and reliable service.”
Disclaimer
Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.