Frequently Asked Questions

What is a loan against car?

A loan against car is a secured loan product in which you can use your car as collateral and get funds against it. If you choose Bajaj Finserv Loan Against Car, you can get up to Rs. 47 lakh by fulfilling simple eligibility criteria.

Can I apply online for a loan against car?

You can apply online for Bajaj Finserv Loan Against Car by following these simple steps:

  • Go to the loan against car page on our website.
  • Click on the ‘Apply’ button on the page.
  • Enter your mobile number and verify your details with the OTP.
  • Fill in your personal details and proceed.
  • Enter the details of your car such as make, model, variant and more.
  • Check and update your KYC details and proceed to schedule an appointment.
What are the features and benefits of a loan against car?

With Bajaj Finserv Loan Against Car, you get a high-value loan of up to Rs. 47 lakh by submitting just a few documents. With our loan against car, you have the option to choose from the list of three variants – Term Loan, Flexi Term Loan, and Flexi Hybrid Loan. With our Flexi variants, a loan limit is assigned to you, and you can withdraw as many times as you from this limit. However, interest is charged only on the amount you borrow and not the entire limit.

What is the interest rate for a loan against car?

With Bajaj Finserv Loan Against Car, you can get funds at the competitive interest rates, which ranges between 10.50% to 22% p.a.

Does this require car verification or valuation?

A valuation and verification process will be performed on the vehicle you pledge as security.

What are the tenure options available for a loan against car?

The repayment period for the loan ranges from 12 months to 72 months. By the end of the tenure, the car’s age should not be more than 12 years.

Who is eligible for a loan against car?

loan against car can be availed of by anyone who owns a car, meets the minimum eligibility, and submits the required documents.

Is a guarantor required for a loan against car?

No, the automobile serves as security.

Which cars are eligible for a loan against car?

Any hatchbacks and sedans, except for some out-of-production models, can be financed. Funding for commercial/ yellow number plate cars, on the other hand, is not available. Know more about the eligibility criteria of a loan against car.

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