NewsVoir

Pune (Maharashtra) [India], September 11: As the festive season approaches, the excitement of new beginnings and lavish celebrations fills the air. For many, this is the perfect time to fulfil a long-held dream--buying a new car. Bajaj Finance has redefined financing for new car purchases with its high-value new car loan of up to Rs 10 crore. This loan product is designed to provide financial flexibility to customers allowing them to make their dream car a reality.

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Whether it's a luxury sedan or a rugged SUV, Bajaj Finserv New Car Loan unlocks a world of possibilities. With this car loan, individuals can get access to a generous loan amount by meeting some basic eligibility criteria and doing minimal paperwork.

Here are a few key features of the Bajaj Finserv New Car Loan:

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High-value financing: With a Bajaj Finserv New Car Loan, individuals can get funds up to Rs 10 crore. This significant car loan amount allows customers to purchase their desired vehicle without any budget constraints.

Quick approval: Bajaj Finserv New Car Loan comes with a quick approval facility. This swift approval allows customers to bring home their desired car without any unnecessary delay.

Up to 100% on-road price: Bajaj Finance offers asset-based new car loans of up to 100% of the car's on-road price. This feature ensures that the customers get the highest possible funding for their car purchases. This allows individuals to buy their dream car without putting pressure on their finances.

Flexible repayment tenures: Bajaj Finance offers new car loans that come with an extended repayment period of up to 96 months. This long repayment tenure allows customers to split the cost of their new car into small monthly instalments that are easy on their pockets. Customers can also use the online EMI calculator available on the Bajaj Finserv website to calculate car loan EMI in advance. This online tool helps customers manage their finances better and choose a repayment tenure that suits their budget.

Simple eligibility and minimal paperwork: Bajaj Finserv New Car Loans come with simple eligibility criteria and minimal paperwork. Individuals who are aged between 18 and 80 years* and have a CIBIL Score of 700 or higher can qualify for this product. Salaried individuals need to have a minimum monthly salary of Rs 25,000 while self-employed individuals must submit ITR proof for the past two years. Apart from these basic criteria, customers also need to submit a handful of documents to get their loan application approved. These documents include PAN card, KYC documents, employee ID, salary slips and bank account statements.

Pre-approved offers: Existing customers who meet the eligibility criteria for a new car loan can gain swift access to funds through exclusive pre-approved offers. They can easily check their offers by entering their valid mobile number and OTP.

With its high-value loan amounts, no hidden charges, quick approval, and flexible repayment tenures Bajaj Finserv New Car Loans provides a convenient solution for funding 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.

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