NewsVoir
Pune (Maharashtra) [India], October 30: Bajaj Finance presents Loan Against Car – an affordable financing solution to cover one’s big or small expenses. With simple eligibility criteria and competitive interest rates, Bajaj Finserv Loan Against Car is a go-to-solution for the customers seeking quick access to funds, making it a suitable product for managing all types of financial needs.
Customers who have a vehicle can opt for a loan against car and get up to Rs. 47 lakh to manage their big and small expenses such as home renovation, wedding, and higher education. This funding solution allows individuals to use their car as collateral to get funds at affordable interest rates.
Here are the key features of a Bajaj Finserv Loan Against Car
Funds up to Rs. 47 lakh
The loan offers high-value financing of up to Rs. 47 lakh, which gives flexibility to effectively manage all types of expenses. This loan helps individuals to manage a range of expenses such as home renovations, education, medical expenses, and more.
Quick disbursal facility
With Bajaj Finserv Loan Against Car, customers can get the funds in their bank account within 48 hours* of loan approval. This quick disbursal facility enables customers to address their financial expenses without any delay by providing quick access to funds.
Simple eligibility criteria and minimal documents
To avail of a Bajaj Finserv Loan Against Car, individuals only need to meet some simple eligibility criteria and submit minimal documentation. Both salaried and self-employed individuals who meet the minimum income criteria can apply for this loan. Customers are required to submit only a few basic documents to get their loan application approved.
Flexible repayment tenures
This loan product comes with flexible tenure options ranging from 12 months to 72 months. Customers can choose repayment tenure as per their financial standing so that loan repayment is easy.
Easy online application process
Our loan against car comes with an easy online application process. This online application eliminates branch visits and allows customers to apply from the comfort of their homes. This hassle-free online process makes availing of funds easy and convenient for customers.
Three unique loan variants
With Bajaj Finserv Loan Against Car, customers get the option to choose from the list of three unique loan variants – Term Loan, Flexi Term Loan, and Flexi Hybrid Loan. When the customer chooses any of these Flexi variants, a loan limit is assigned to them. They can withdraw funds from this loan limit as many times as they need and pay interest only on the amount withdrawn and not the entire limit. With Flexi variants, customers also have the option to part-prepay their loan multiple times without incurring any additional charges.
Customers can also choose our Flexi Hybrid Loan, which allows them to reduce the initial EMI load by paying interest-only EMIs during the initial part of the tenure.
A loan against car is a great alternative to traditional financing options, providing individuals with easy access to funds at competitive interest rates. Bajaj Finserv Loan Against Car is an ideal choice for customers looking to manage their big and small expenses.
Bajaj Finance Ltd. (‘BFL,’ ‘Bajaj Finance,’ or ‘the Company’), a subsidiary of Bajaj Finserv Ltd., is a deposit-taking Non-Banking Financial Company (NBFC-D) registered with the Reserve Bank of India (RBI) and is classified as an NBFC-Investment and Credit Company (NBFC-ICC). BFL is engaged in the business of lending and acceptance of deposits. It has a diversified lending portfolio across retail, SMEs and commercial customers, with a significant presence in both urban and rural India. It accepts public and corporate deposits and offers a variety of financial services products to its customers. BFL, a thirty-five-year-old enterprise, has now become a leading player in the NBFC sector in India and on a consolidated basis, it has a franchise of 72.98 million customers. BFL has the highest domestic credit rating of AAA/ Stable for long-term borrowing, A1+ for short-term borrowing and CRISIL AAA/ Stable & [ICRA]AAA(Stable) for its FD program. It has a long-term issuer credit rating of ‘BBB-/Stable’ and a short-term issuer credit rating of ‘A-3’ by S&P Global Ratings.
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