Features and Benefits
Fund your pre-owned car purchase in a smart, quick and hassle-free way with Used Car Finance from Bajaj Finserv.
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High-value Used Car Finance
With Bajaj Finserv, get an asset-based loan up to 90% of the car valuation, at an attractive rate of interest. Repay the loan in easy EMIs across 12 to 60 months.
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Doorstep facility
Get doorstep assistance on the entire processing- right from document pickup to all the way to RC transfer – with Used Car Finance with Bajaj Finserv. This makes the process convenient and hassle-free for you.
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Instant approval
If you are new to the Bajaj Finserv family, you get to enjoy same-day approval on your loan application. In addition to this Bajaj Finserv customers get special pre-approved offers on Used Car Finance.
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End-to-end car care services
Get deals on washing, polishing, monsoon care and more for your car. With a host of benefits ranging from insurance renewals, car accessories and car servicing, end-to-end car maintenance is made easy with the Bajaj Finserv EMI Network Card.
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Great offers
Once you have availed a Used Car Finance from Bajaj Finserv, you get a 3M voucher worth Rs. 1,000 for free.
How a Bajaj Finserv Used Car Finance Works?
- Identify the car you want to buy
- Apply for the loan and get an instant approval (New customers can get the approval in 24 hours)
- Get your documents picked up right from your doorstep, at a time that suits you
- Dealer receives the money for your car in 48 hours
- Get driving in your new car
Eligibility Criteria
- Salaried individuals should have an age between 21 to 60 years
- Self-employed individuals should have an age between 25 years to 60 years
- Salaried individuals should have at least 1 year of work experience and a minimum salary of Rs. 23,000/- per month
- The loan is applicable only for private cars
- The car’s age shouldn’t be more than 10 years at the time of loan completion
- Car should not have more than 3 previous owners
Documents Needed
Used Car Finance from Bajaj Finserv requires only minimal documentation.
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KYC documents
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Bank statements of the last 3 months
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Income proof: Salaried individuals - Salary slips of the last 3 months
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Self-employed individuals - Income Tax Returns of the last 2 years
UCF (Used Car Finance) fees and charges
| Types of Fees | Charges Applicable |
|---|---|
| Processing fee | Upto 4% plus applicable taxes |
| Stamp duty | at actuals |
| Documentation charges (Recently Updated) | Rs. 1770 (Inclusive of applicable taxes) |
| Loan re-booking | Rs. 1000 (Inclusive of applicable taxes) |
| Loan cancellation charges (Recently Updated) | Rs. 2360 (Inclusive of applicable taxes) |
| Bouncing charges (Recently Updated) | Rs. 2000 (Inclusive of applicable taxes) |
| Penal Interest | 2% per month |
| Legal, repossesion and incidental charges | at actuals |
| NDC for interstate transfer | Rs. 1000 Plus applicable taxes |
| NDC to convert from private to commercial | Rs. 3000 Plus applicable taxes |
| Foreclosure charges | 4% + applicable taxes |
| Part payment charges | 4% + applicable taxes |
| Duplicate NDC | Rs. 500(Inclusive of taxes) |
| Mandate Rejection Charge Newly Introduced |
Rs. 450/- (Inclusive of taxes) will be applicable if new mandate form is not registered within 30 days from the date of rejection of previous mandate form by Customer’s Bank for any reasons whatsoever. |
| Statement Of Account/ Repayment Schedule/Foreclo- sure Letter/ Interest Certifi- cate/List of documents | Download your
e-statements/letters/certificates at no extra cost by logging into Customer Portal – Experia. You can get a physical copy of your statements/letters/certificate s/List of Documents from any of our branches at a charge of Rs. 50/- (Inclusive of applicable taxes) per statement/letter/certificate. |
| Types of fees | Charges applicable |
|---|---|
| Processing fee of conversion | Upto 4% plus applicable taxes |
| Stamp duty | at actuals |
| Loan cancellation charges | Rs. 2360 (Inclusive of applicable taxes) |
| Bouncing charges | Rs. 2000 (Inclusive of applicable taxes) |
| Penal charges | 2% per month on the amount of monthly instalment outstanding as on that date |
| Legal, repossession and incidental charges | at actuals |
| NDC for interstate transfer | Rs. 1000 + applicable taxes |
| NDC to convert from private to commercial | Rs. 3000 + applicable taxes |
| Full Pre-Payment (Foreclosure) Charges | 4% of the total withdrawable amount plus applicable taxes as per the repayment schedule, during initial and subsequent tenure on the date of such full pre-payment |
| Part payment charges | Nil |
| Annual Maintenance Charges | Initial Tenure: (a) For 1st Year of initial tenor : Nil (b) For 2nd year of initial tenor: 1.25% (plus applicable taxes) of Total Withdrawable Amount, which will be charged at the beginning of year Subsequent Tenure: 0.50% (plus applicable taxes) of Total Withdrawable Amount, which will be charged at the beginning of year. |
| Duplicate NDC | Rs. 500(Inclusive of taxes) |
| Statement Of Account/ Repayment Schedule/Foreclo- sure Letter/ Interest Certifi- cate/List of documents | Download your e-statements/letters/certificates at no extra cost by logging into Customer Portal – Experia. You can get a physical copy of your statements/letters/certificate s/List of Documents from any of our branches at a charge of Rs. 50/- (Inclusive of applicable taxes) per statement/letter/certificate. |
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