Frequently asked questions

What is a balance transfer and top-up facility?

You can avail of a balance transfer and top-up facility by transferring your existing car loan to Bajaj Finserv and getting extra funds based on your car's valuation. At Bajaj Finserv, you can avail of funds up to 160% of the valuation, going up to Rs. 20 lakh.

What is the process of collection of documents?

Bajaj Finserv offers the facility of doorstep document collection to make the application process hassle-free. Once you fill out the application form, our executive will contact you to complete the paperwork at your convenience.

Are there any foreclosure and part prepayment charges applicable to this credit facility?

After completing 6 months of your loan term, you can foreclose or partially prepay your car loan balance transfer. If you wish to part prepay or foreclose your loan, 4% plus applicable taxes on the principal outstanding/prepaid amount will be charged as a foreclosure/part-prepayments fee.

What are the tenor options available?

Bajaj Finserv offers car loan balance transfer with a flexible range of tenor of up to 60 months that lets you spread your loan in affordable EMIs. You can choose a tenor of your preference that suits your budget and the loan sanctioning conditions.

Do I need a guarantor/co-applicant for pre-owned car loans?

You do not need a guarantor/ co-application for pre-owned car loans unless your income fails to meet our required eligibility criteria. In such cases, you may be required to have a guarantor or a co-applicant to stand surety for your loan.

Can I see my loan summary and future instalments online?

You can log in to our customer portal – Experia, to view, download, and track your loan statement and instalments on the go without visiting our branches.

Can I get funding for new cars?

At present, Bajaj Finserv offers loans only for pre-owned cars and no funding for new vehicles.

Does this require car verification or valuation?

A balance transfer top-up loan requires verification/valuation of vehicles. Bajaj Finserv will arrange a valuation and verification for your cars as part of the loan application process. Based on the valuation of your car, a loan amount will be sanctioned to you.

Which cars can be financed with a balance transfer top-up loan?

Except for commercial vehicles or cars with yellow plates, we offer funding for all private passing vehicles, be it hatchbacks or sedans.

Read More Read Less