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Your Car Loan Balance Transfer and Top-up with us

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Car Loan Balance Transfer and Top-up

3 unique variants | Up to Rs. 52 lakh | Tenure up to 84 months
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Benefits of Car Loan Balance Transfer and Top-up
 
 
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Trusted by 3 lakh+ customers

Car Loan Balance Transfer and Top-up
3 unique variants | Up to Rs. 52 lakh | Tenure up to 84 months
UCF_PDP_02_Car_Value
Up to 190% funding of car value
UCF_PDP_01_Three_Unique
3 unique variants
UCF_PDP_03_In_Principle
In-principle sanction letter
UCF_PDP_04_Minimal_Doc
Minimal documentation
UCF_PDP_05_Flexible_Tenure
Flexible tenures
UCF_PDP_02_Car_Value
Up to 190% funding of car value
UCF_PDP_01_Three_Unique
3 unique variants
UCF_PDP_03_In_Principle
In-principle sanction letter
UCF_PDP_04_Minimal_Doc
Minimal documentation
UCF_PDP_05_Flexible_Tenure
Flexible tenures
Car Loan Balance Transfer and Top-up EMI Calculator

Car Loan Balance Transfer and Top-up EMI Calculator

Plan your instalments better

Features and benefits

  • 3 unique variants

    Choose the type of loan that fits your needs – Flexi Term, Flexi Hybrid, or Term.

  • Loan of up to Rs. 52 lakh

    Transfer the balance of your existing car loan and get a high-value top-up of up to 190% of the car’s value with a limit of up to Rs. 52 lakh.

  • Flexible tenures

    Repay your loan easily with convenient repayment options ranging up to 84 months.

  • No part-prepayment charge on Flexi Loans

    Pay back a portion of your loan ahead of schedule at no extra cost with our Flexi facility. You can part-prepay as many times as you want.

  • 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.

  • Premium services

    Get additional services such as car insurance, life insurance, financial fitness report, and GPS tracker at a very nominal cost.

  • No hidden charges

    All fees and charges are mentioned upfront on this page and in the loan document. We advise you to read these in detail.

    Know about our fees and charges

  • Doorstep assistance

    Get doorstep support by submitting your documents to our representative without stepping out of your home.

*Terms and conditions apply

Still haven’t found what you’re looking for? Click on any of the links at the top of this page.

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Eligibility and documents

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.

Eligibility criteria

  • Nationality: Indian
  • Age: 18 to 80 years*
  • For salaried employees: Individuals should have at least 1 year of experience and a minimum monthly salary of Rs. 20,000
  • 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.

Documents required

  • KYC documents: Aadhaar/ passport/ voter’s ID/ driving license/ letter from NPR/ NREGA job card
  • 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

How to apply

A step-by-step guide to applying for a car loan balance transfer and top-up

  • Click on the 'APPLY' 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.

Applicable fees and charges

Type of fee Applicable charges
Rate of interest 10% to 19% 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).
Flexi fee Term Loan – Not applicable
Flexi Term Loan (Flexi Dropline) - Up to Rs. 999/- (inclusive of applicable taxes)
Flexi Hybrid Loan (as applicable below)
• Up to Rs. 1,999 (inclusive of applicable taxes) for loan amount less than Rs. 2,00,000.
• Up to Rs. 3,999 (inclusive of applicable taxes) for loan amount from Rs. 2,00,000 to Rs. 3,99,999.
• Up to Rs. 5,999 (inclusive of applicable taxes) for the loan amount from Rs. 4,00,000 to Rs. 5,99,999.
• Up to Rs. 6,999 (inclusive of applicable taxes) for the loan amount from Rs. 6,00,000 to Rs. 9,99,999.
• Up to Rs. 7,999 (inclusive of applicable taxes) for the loan amount of Rs. 10,00,000 and above.
The charges above will be deducted upfront from the loan amount.
*Loan amount includes approved loan amount, insurance premium, VAS charges, and documentation charges.
Prepayment charges Full prepayment (foreclosure)
• Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount payable by the borrower as on the date of full prepayment.
• Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of such full prepayment.
• Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule, during initial and subsequent tenure, on the date of such full prepayment.
Part-prepayment
• Term Loan: Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part-prepayment.
• Not applicable for Flexi variants
Annual maintenance charges Term Loan: Not applicable
Flexi Term Loan (Flexi Dropline):
·Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges.
Flexi Hybrid Loan:
·Up to 0.59% (inclusive of applicable taxes) of the total withdrawable amount during initial tenure.
·Up to 0.295% (inclusive of applicable taxes) of total withdrawable Amount during subsequent tenure.
Bounce charges

Rs. 1,500 per bounce

“Bounce charges” shall mean charges for (i) dishonour of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason.
Penal charge
 Delay in payment of instalment(s) shall attract penal charge up to Rs. 25 per day 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 the loan amount.
Legal and incidental charges Recovery of charges
Repossession charges Recovery of charges maximum up to Rs. 50,000
Auction charges Recovery of charges
Valuation charges Recovery of charges
Stockyard charges Rs. 118 per day for 60 days (inclusive of applicable taxes)
Loan re-booking charges Rs. 1,000 (inclusive of applicable taxes).
Loan cancellation charges Rs. 2,360 (inclusive of applicable taxes) (Interest till cancellation to be borne by the customer).
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).
Broken period interest/ pre-EMI interest Broken period interest/ pre-EMI interest shall mean the amount of interest on Loan for the number of day(s) which is(are) charged in two scenarios:
Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged:
In this scenario, broken period interest is recovered by the following methods:
• For Term Loan: Added to the first instalment amount
• For Flexi Term Loan: Added to the first instalment amount
• For Flexi Hybrid Loan: Added to the first instalment amount
Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:
In this scenario, interest is charged only for the actual number of days since the loan was disbursed.

Our loan variants

Loan variant What is it Flexibility Withdrawals EMIs Part-prepayment Charges Flexi Charges
Flexi Hybrid Loan Allows flexibility in borrowing and repaying within a specified loan limit. You can withdraw and repay multiple times within the approved limit. Interest is charged only on the amount utilised. Easily withdraw funds from the sanctioned limit and prepay effortlessly with our most flexible loan variant. Get unrestricted access to funds with multiple withdrawals from the approved loan limit. Interest-only EMIs for the initial part of the loan tenure. EMI applicable only on the withdrawn amount. No part-prepayment charge. *Nominal Flexi charges applicable.
Flexi Term Loan Offers flexibility in borrowing and repaying within a specified loan limit. Your EMIs cover both the principal and interest for the withdrawn sum over the entire duration. Easily withdraw funds from the sanctioned limit and prepay effortlessly. More flexible than our regular term loan. Get unrestricted access to funds with multiple withdrawals from the approved loan limit. Fixed EMIs only on the withdrawn amount. No part-prepayment charges. *Nominal Flexi charges applicable.
Term Loan There is no pre-assigned limit. Involves borrowing a fixed amount for a specified term. Repayments are made through regular EMIs, comprising both principal and interest. Fixed loan structure and repayment schedule. Less flexible than our flexi term or flexi hybrid loans. Single disbursement of the loan amount. Fixed EMIs on the disbursed amount. *Nominal part-prepayment charges applicable. No Flexi charges.
*Refer to the fees and charges for details

Frequently asked questions

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.

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 190% of your vehicle’s value. However, the maximum loan amount is up to Rs. 52 lakh.

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.

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.

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 84 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
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 700 or above to be eligible for this facility.

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.

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Documents required for Car Loan Balance Transfer and Top-up
 
 

Documents required for Car Loan Balance Transfer and Top-up

What is Car Loan Balance Transfer and Top-up
 
 

What is Car Loan Balance Transfer and Top-up

Eligibility criteria for Car Loan Balance Transfer and Top-up
 
 

Eligibility criteria for Car Loan Balance Transfer and Top-up

All about top-up loans
 
 

All about top-up loans

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Disclaimer

Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.