Car ownership is a significant milestone in one's life, offering freedom, convenience, and mobility. However, the financial commitment that comes with it, particularly through car loans, can sometimes become burdensome. If you are currently burdened with high-interest rates or unfavourable terms on your car loan, it might be time to consider a change. This is where a car loan balance transfer can help you to get better loan terms.
With car loan balance transfer, you can shift your ongoing car loan from one lender to another. With the help of this financial product, you can get better repayment terms on your car loan. Bajaj Finance, one of the leading NBFCs in the country, offers car loan balance transfer that comes with a high-value top-up loan of up to Rs. 47 lakh. With simple eligibility criteria and competitive interest rates, Bajaj Finance makes your borrowing experience convenient.
Here are 5 reasons why you should consider Bajaj Finserv Car Loan Balance Transfer and Top-up.
High-value top-up loan
When you choose a car loan balance transfer from Bajaj Finance, you get an additional top-up loan of up to Rs. 47 lakh. This high-value loan helps you in managing your car-related expenses. Whether you wish to install the latest music system or a safety camera, you can manage all small and big expenses with these additional funds.
Flexible repayment tenure:
With Bajaj Finserv Car Loan Balance Transfer and Top-up, you will get flexible repayment tenure options. You can choose a repayment tenure from a range of 12 months to 72 months. This loan repayment tenure allows you to spread your loan in small monthly instalments that are easy on your pocket.
Simple eligibility criteria
Bajaj Finserv Car Loan Balance Transfer and Top-up comes with simplified eligibility criteria. You can easily qualify for this product if you are a resident Indian aged between 18 and 80 years* and meet the basic monthly income criteria. If you are a self-employed individual, you need to submit ITR proof of the past two years. Apart from meeting these basic criteria, you need to submit just a few documents. These include PAN card, KYC documents, salary slips, bank statement and more.
Flexi Loan facility
Bajaj Finance offers three unique loan variants – Term Loan, Flexi Term Loan, and Flexi Hybrid Loan. When you choose either of these Flexi Loan variants, a loan limit is assigned to you and you can withdraw funds as many times as you need from this limit. However, you need to pay interest only on the amount you withdraw and not the entire limit. You can also part-prepay your Flexi Loan as and when you have surplus funds without paying any additional charges. In case you opt for the Flexi Hybrid Loan, you will get an additional facility of paying interest-only EMIs for the initial part of the repayment tenure.
Effortless application process
Bajaj Finance offers car loan balance transfer and top-up that comes with a hassle-free application process. You can simply visit the Bajaj Finserv website and fill out the online application form. Once you submit the online form, a representative from Bajaj Finance will reach out to you and guide you on further steps. You can also benefit from the doorstep document collection facility and finish your paperwork from the comfort of your home.
Opting for a car loan balance transfer is a wise financial decision as it can make your repayment easy with better terms and competitive car loan balance transfer interest rates.
With a hassle-free application process and flexible repayment tenure, Bajaj Finserv Car Loan Balance Transfer and Top-up is an ideal choice that help to manage repayment of your existing loan better.
Download the Bajaj Finserv app or visit the Bajaj Finserv website to apply for a car loan balance transfer and top-up today.
*Terms and conditions apply
