BUYING
Your home loan may only cover 80% of the total price. You can get a loan against car to pay for the rest of the price, the broker's fee, the stamp duty, and other expenses.
RENOVATION
We all have times when we want to change the bedroom or get a new couch for the living room. As kids get older, they may need their own space. You would not want to hold back from making these expenses for a more comfortable life.
FURNISHINGS
Sometimes, all you need to turn your apartment into a luxury home is furniture, upholstery, and lights. While these may seem like small expenses to make, but when you want to change the look of your entire house, it may end up as a larger expense.
3 unique variants of our loan against car
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Flexi Term Loan
Let us say you take out a loan against car for Rs. 2 lakh for 24 months. You pay regular monthly instalments for the first six months (EMIs). You would have paid back about Rs. 50,000 by now.
You need Rs. 50,000 for something that you did not expect. Just sign in to our customer portal – My Account and borrow Rs. 50,000 out of your Flexi Term Loan account. You got a bonus of Rs. 1,00,000 three months later and would like to pay back some of your Flexi Term Loan. This time, all you have to do is go to My Account and pay back a part of your Flexi Term Loan.
With every withdrawal or deposit, your interest is automatically changed, and you only pay interest on the amount you still owe at any given point. Your EMI includes both the amount that you owe and the adjusted interest.
Unlike other loans, there are no fees or penalties for paying back your Flexi Term Loan or taking money out of your account.
This version is perfect for the way people live now, when managing money can be hard to predict.
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Flexi Hybrid Loan
This is another variant of loan that we offer, and it works largely in the same way as a Flexi Term Loan. Your EMI will only cover interest for the initial loan period, varying based on your loan tenure. For the rest of the time, the interest and the principal will make up the EMI.
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Term Loan
This is the same as any other loan. You borrow a specific amount, divided into monthly payments covering both the principal and interest. If you pay off your loan before the end of its tenure, you will have to pay a part-prepayment or foreclosure fee.
Features and benefits of our loan against car
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Features and benefits of our Loan Against Car
Watch this video to know everything about our Loan Against Car
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Loan of up to Rs. 47 lakh
Get funds of up to Rs. 47 lakh to manage your significant or small expenses.
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Convenient tenures
Repay your loan easily with flexible repayment options ranging from 12 months to 72 months.
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Money in your bank account in 48 hours*
Get the loan amount credited to your bank account within 48 hours* of approval.
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Minimal documentation
You only need to submit a few basic documents to apply for our loan against car.
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No hidden charges
We mention our fees and charges on our loan documents and also on this page. We advise you to read them in detail before applying.
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Pre-approved offers
Check your pre-approved offer online by simply entering your mobile number and OTP and receive funds instantly.
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Quick approval
In most cases, your application for a loan against car will get approved within a day of document verification.
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End-to-end online application process
You can apply for our loan against car from the comfort of your home, at a time convenient for you.
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*Terms and conditions apply.
How to apply for a loan against car
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Frequently asked questions
Bajaj Finserv Loan Against Car is a loan that allows pledging your car to get a loan. We offer up to Rs. 47 lakh with a repayment tenure ranging up to 72 months.
A loan against car can be availed of by anyone who owns a car, meets the minimum eligibility criteria and submits the required documents.
A car verification and valuation will be performed on the vehicle you pledge as a security.
The guarantor is not required as the vehicle serves as a security.
All vehicles including hatchbacks, sedans and more are eligible for a loan against car. Models that are out of production are however not eligible for a loan against car. Funding against commercial/ yellow number plate cars is not available.
Simply click on the 'Apply’ button to open the online application form. Once you share your basic details, our representative will call and help you with the further process. Submit the required documents to our representative. Once your documents are verified and your loan is approved, you will get the money in your account.
The repayment period for the loan ranges from 12 months to 72 months.
A loan against car for home expenses works like any other secured loan. You need to fulfil the required loan against car eligibility criteria and fill out a simple application form. Based on the valuation of your car, a loan amount is defined for you. You can either choose to go ahead with the same amount or opt for a lower amount as per your requirement.
Bajaj Finance offers a loan against car that comes with the flexibility of end use and helps you manage significant and small home expenses. When you choose Bajaj Finserv Loan Against Car, you can get up to Rs. 47 lakh for your financial needs.
A loan against car comes with the flexibility of end use and you can easily manage expenses related to home repairs or renovations. With Bajaj Finserv Loan Against Car, you get funds up to Rs. 47 lakh with minimal paperwork.
The loan amount you can borrow depends on the valuation of your car, your eligibility, and a few other factors. Bajaj Finserv Loan Against Car comes with a high-value loan of up to Rs. 47 lakh and flexible repayment tenure of up to 72 months. Use our loan against car EMI calculator to determine what your monthly instalments would be.
It is advisable to maintain a good credit score if you are looking to apply for a loan against car. A healthy CIBIL Score helps you to get a loan against car for home expenses at competitive interest rates.
Bajaj Finance offers a loan against car that comes with minimal paperwork and quick disbursal. With our loan against car, you get funds in just 48 hours of approval.
