In times of distress, individuals look for financing options that allow them to obtain funds quickly. Loans with heavy collaterals such as home loans can take a while to be approved and processed. Unsecured loans can be obtained quickly but may incur a higher interest rate since they are collateral-free. In such instances, a loan against car can be the perfect solution.
What is a loan against car
A loan against car is a secured loan where you use your vehicle as collateral to access funds. You can receive a sizable loan amount, affordable interest rates, and flexible repayment options, making it a practical financial solution.
Benefits of a loan against car
The advantages a loan against car has to offer can differ from lender to lender. Let us look at some of the key features of the Bajaj Finserv Loan Against Car:
Significant loan amount
This loan offers funds up to Rs. 77 lakh, allowing you to manage a wide array of both large and small expenses.
Three unique variants
Bajaj Finance offers three unique loan variants– Term Loan, Flexi Hybrid Loan, and Flexi Term Loan. If you opt for the Flexi variant, we assign you a loan limit, allowing you to withdraw funds based on your requirements. You only pay interest on the withdrawn amount, not on the entire approved limit. Additionally, you have the flexibility to make multiple withdrawals and part-prepayments from your loan limit without incurring any additional costs. The Flexi Hybrid Loan option also provides the added benefit of paying interest-only EMIs during the initial part of the tenure.
Quick disbursal
The loan amount is deposited into the customer’s bank account within 48 hours* of loan approval. This ensures prompt access to funds and enables you to address financial requirements without any delay.
Convenient repayment tenure
This loan offers tenures ranging from 12 months to 84 months. You can choose a tenure that aligns with your financial capacity, ensuring an affordable repayment process.
Application procedure for a loan against car
You can apply for a Bajaj Finance Loan Against Car by clicking on ‘APPLY’ on this page to initiate the application procedure. Fill in your asset details, complete the application form with your personal information, and then submit your loan against car application.
Our representative will guide you through the subsequent steps, and once we successfully verify your documents, we will transfer the loan amount to your bank account.
*Terms and conditions apply.
