Bajaj Finserv New Car Loan simplifies the borrowing experience for new car purchase

Pune (Maharashtra) [India], September 25: As the festive season approaches, many people dream of purchasing a new car. The thrill of driving a new vehicle and the joy it brings is hard to resist. However, buying a car can be a significant financial commitment, which is where car loans come into play. Car loans offer the necessary funds to make this dream a reality without breaking the bank. Bajaj Finance offers new car loans, which are designed to help individuals finance their desired car without any hassle. Bajaj Finserv New Car Loans have simple eligibility criteria and require only a few documents.

Customers can get financing of up to Rs. 10 crore, allowing them to bring the car of their choice without any budget constrain. This loan option is particularly useful for customers seeking quick access to finances, making it a suitable choice for meeting their new car financing needs.

Here are some key benefits of Bajaj Finserv New Car Loans that make financing your new car purchase easier.

Easy eligibility parameters: Bajaj Finserv New Car Loans come with simple eligibility criteria that make it easier for customers to qualify. Age, credit history, monthly income, and one’s employment status are some of the factors that are considered. Customers can qualify for this loan if they are aged between 18 and 80 years* and have a CIBIL Score of 700 or higher. For salaried individuals, minimum monthly salary of Rs. 25,000 is required. On the other hand, self-employed individuals need to submit an ITR proof of the past 2 years.

Minimal documents: Dealing with a mountain of paperwork can be overwhelming. Bajaj Finance makes the process straightforward with minimal paperwork. Customers need to submit just a few documents to qualify for this loan. These documents include KYC document, PAN card, employee ID card, salary slips, and bank account statements.

Quick approval: In today’s fast-paced world, getting things done quickly is important. Bajaj Finance understands this and has designed a loan approval process that is both quick and efficient. When customers apply for a new car loan, they can expect to receive approvals in no time. This speedy process means that they will not have to wait long before getting behind the wheel of their new car.

Flexible repayment tenure: Financing a car should not feel like a burden. Bajaj Finance offers flexible repayment tenures ranging from 12 months to 96 months. This flexible repayment tenure allows customers to choose a plan that fits their financial situation. Whether they prefer shorter or longer repayment periods, they can tailor their loan to suit their needs. Customers can also use the car loan EMI calculator available on the Bajaj Finserv website and evaluate their new car loan EMI amount. This car loan calculator helps in financial planning and assists customers in making an informed decision.

Up to 100% financing of on-road price: One of the standout features of Bajaj Finserv New Car Loans is the ability to finance up to 100% of the on-road price. This means customers don’t need to worry about making a large down payment. It allows them to get the car they want without financial strain.

With simple eligibility criteria, minimal paperwork, quick approval, and flexible repayment tenures Bajaj Finserv New Car Loans provides an easy solution for financing the purchase of a brand-new car.

*Terms and conditions apply

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 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 80.41 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 BB+/Positive and a short-term rating of B by S&P Global ratings.