Flexi Term, Hybrid, and Term Loans: Bajaj Finserv New Car Finance Options

Bajaj Finserv offers New Car Finance with loans up to Rs. 5 crore at competitive interest rates and flexible repayment options up to 96 months. With minimal documentation, borrowers can choose from Flexi Term Loan, Flexi Hybrid Loan, or Term Loan variants. Interest rates range from 7.50% p.a. to 14% p.a. Key charges include Rs. 1 for UPI mandate, Rs. 500 for duplicate NOC, Rs. 1,180 for other NOC, and Rs. 450 for rejection of mandate charges. The application process is straightforward, starting with visiting the Bajaj Finserv website, entering mobile details, and filling out the application form.

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Investbegin

6/20/20242 min read

Bajaj Finserv New Car Finance
Bajaj Finserv New Car Finance

Flexi Term, Hybrid, and Term Loans: Bajaj Finserv New Car Finance Options

Under the New Car Finance offered by Bajaj Finserv, you can get a loan of up to Rs. 5 crore with an attractive interest rate. The repayment tenure can be as long as 96 months, and minimal documentation is required to avail of the loan.

Loan Variants
  1. Flexi Term Loan

  2. Flexi Hybrid Loan

  3. Term Loan

Charges and Interest Rates

The interest rates and various charges under the New Car Finance scheme are as follows:

  • Interest Rate: Ranges from 7.50% p.a. to 14% p.a.

  • Registration Charges: Rs. 1 for UPI mandate.

  • Duplicate NOC: Rs. 500.

  • Other NOC: Rs. 1,180.

  • Conversion to Commercial to Private NOC: Rs. 3,540.

  • Interstate Transfer NOC: Rs. 1,180.

  • Rejection of Mandate Charges: Rs. 450 every month.

  • Stockyard Charges: Rs. 118 every day for 60 days.

  • Valuation Charges: At actuals.

  • Auction Charges: At actuals.

  • Repossession Charges: At actuals, with a maximum of Rs. 50,000.

  • Legal and Incidental Charges: As per applicable laws.

  • Penal Interest: 3.50% per month on the outstanding EMI.

  • Bounce Charges: Rs. 1,500 each time.

  • Annual Maintenance Charges:

    • Flexi Hybrid Loan: Initial Tenure up to 0.59% of the amount that is withdrawable, and Subsequent Tenure up to 0.295% of the amount that is withdrawable.

    • Flexi Term Loan: Up to 0.295% of the amount that is withdrawable.

    • Term Loan: Not applicable.

  • Documentation Charges: Up to Rs. 2,360.

  • Processing Fee: Up to 2.95%.

Process to Apply for New Car Finance

To apply for the New Car Finance scheme, follow these steps:

  1. Visit the Bajaj Finserv New Car Finance Interest Rates and Charges page.

  2. Click on ‘Apply’.

  3. Enter your mobile number.

  4. Enter the OTP sent to your registered mobile number.

  5. Fill in the relevant details on the application form.

  6. Choose the car brand.

  7. Choose the dealer.

  8. Click on ‘Apply Now’ to complete the process.

By choosing Bajaj Finserv for your new car finance needs, you can benefit from competitive interest rates, flexible repayment options, and a straightforward application process.

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