Bajaj Finserv Used Car Loan Overview

Bajaj Finserv is a part of Bajaj Holdings & Investment Ltd. It is an Indian Financial service company focused on asset management, lending, insurance and wealth management.

At Bajaj Finserv, one cona get a used car loan at affordable interest rate with instant approval. So, apply for a second hand car to get the best offers.

Bajaj Finserv Used Car Loan Interest Rate

Particular Charges
Interest Rate Starting from 12.99%
Processing Fee 2% of Loan Amount
Penal Charges 2%/ month + applicable taxes
Foreclosure Charges 4% + applicable taxes

Additional Fees and Charges of Bajaj Finserv Used Car Loan

Documentation Charges - Rs. 885/-

Stamp Duty - at actuals

Loan re booking - Rs. 1000/-

Bouncing Charges - Rs. 1000/-

Loan Cancellation Charges - Rs. 1000/-

SOA/ repayment schedule - Rs. 200/-

Agreement copy - Rs. 500/-

Duplicate NOC - Rs. 500/-

NOC to convert from private to commercial - Rs. 3000/-

Part Payment charges - 4% + applicable taxes

Documents Required for Bajaj Finserv Used Car Loan

  • Identity Proof: Credit card/ Passport/ Voter ID/ PAN card/ Driving license/ Company ID of Public ltd./ MNC/ Govt. Company/ PSU/ Aadhar Card

  • Address Proof: Voter ID/ Passport/ Rental agreement/ Driving License/ Electricity bill/ telephone bill/ Ration card/ Gas connection bill/ Credit card billing statement/ Property purchase agreement/ LIC policy/ Company provided accommodation or letter from company/ Parent's or spouse address proof

  • Income Proof: Latest salary slip for Govt. employee. If the salary slip is not available, salary certificate is accepted.

  • Other important documents are required from the employees based up on their profile.

  • Contact a Bajaj Finserv representative at your nearest branch to get a pre owned car loan.

Eligibility Criteria for Bajaj Finserv Used Car Loan

  • For salaried employees, age should be 21 to 60 years and For self employed, age should be 25 to 60 years.

  • Minimum 1 year work experience required for salary employee.

  • For salary employee, minimum monthly salary should be Rs. 23,000.

  • Only applicable for private vehicles with no more than 3 previous owners.

  • Car age should be 10 years at the end of the loan.

EMI Calculator for Bajaj Finserv Used Car Loan

What is EMI Calculator?

Equated Monthly Installment (EMI) is the amount you have to pay in every month to the bank until you pay off your loan. EMI consists of loan amount, rate of interest, loan tenure. The principle ampunt and interest rate are divided by the loan tenure.

How does the laon EMI calculator will work?

EMI calculator is a online tool which easily calculate the monthly EMIs. Use EMI calculator before getting a loan. EMI calculator can be helpful for everyone to know how much money they need to pay for the bank. An individual can calculate the EMIs for used car loan, personal loan, business loan, home loan, mortgage loan with EMI calculator. If he/ she satisfied with the quote, then he/she apply accordingly:

1. Enter the loan amount that a person can get.

2. Choose the loan tenure range.

3. Enter the interest rate offered by the bank.

4. Click the submit button to calculate the monthly EMIs.

To calculate the EMI of second hand car loan, use our EMI calculator.

Bajaj Finserv Used Car Loan Process

Follow these simple steps to get a Bajaj Finserv used car loan:

  1. Choose a Car: Select a car you wish to buy.

  2. Apply for Used Car Loan: Apply and get instant approval for used car loan Hyderabad.

  3. Documentation Submission: Door step service provided for documents submission.

  4. Dealer Recieves Money: The Dealer revieves the money in 48 hours

  5. You are a Car Owner: You are a car owner now.

Features and Benefits of Bajaj Finserv Used Car Loan

  • Affordable and high value finance: You can get an asset based pre owned car loan up to 90% of the value of a vehicle at affordable interest rates which can be repaid in 12 to 60 months EMI.

  • Free Car Fitness Report: We provides more information about second hand car to choose the best one.

  • End to End Car Care Services: Get many services like car insurance renewals, car servicing, car accessories and many more with our pre owned car loan.

  • Door Step Facility: We provide door step service to collect the required documents for pre owned car loans and taken care of all things involved in getting a second hand car loan.

  • Get the best offers on Bajaj Finserv EMI card

Customer Care Details of Bajaj Finserv

We are providing the 24x7 customer service to our customers. For any queries regarding car loan, contact us at our Bajaj Finserv customer care number: 020-3957-4151

You can also drop an e-mail at for loan queries.

Conditions for Pre Owned Financing

Bajaj Finserve provides loans for private vehicles only. There is no funding provided for:

  • An yellow plate which indicates commercial cars

  • Cars, owned by more than 3 previous owners

  • Cars with age more than 10 years at the end of a loan

How to arrange Second Hand Car Loan

It is better to think about various things when you are planning to buy a second hand car. You need to consider the basic requirements for a loan. The following are the steps to obtain a loan for pre owned car:

1. Choose the type and model of a car: It is necessary to select a car that meets your requirements and comes under your budget. Most of the lenders check the car age and type of a car before approving the loan. So, you should choose a latest model car.

2. Estimate the budget for your car: After selection of a car model, you need to calculate the amount that you need to pay for. After calculation, you can idea about how money you will borrow from the bank.

3. Establish your requirement: After choosing the loan amount, you should choose the best tenure option.

4. Search for better offers: Many banks are offering pre owned car loans at competitive interest rates. You will finalize one option and get loan from selected lender.

5. Submission of Documents: The banks requires important documents like income proof, ID proof of the applicants. You have know the required documents for the bank. After submission of the documents, you will get a second hand car loan.

Why should you apply for a used car loan from LoanOnMind? is an online source to get car loan details from various banks across India. Check out and apply for used car loan in this website offer many services, which are:

Comprehensive list of Car Loans

Browse and get the information about used car loans in India. We are providing so many options to get the best pre owned car loan.

Compare and Pick

At LoanOnMind, one can compare the interest rates offered by various banks and pick the right one based on your repayment capacity.

Check the Eligibility

The eligibility of getting a second hand car loan is different from one bank to another. Check the eligibility criteria of different banks to choose the right one.

Simple Application Process

Applying a used car loan in is simple and hassle free. After choosing the bank, apply online by providing your personal details to get instant approval from the banks. We provide high level security to your personal details which can be sent to the applied lender only and we won't share your data publicly.

Robust Customer Support

If you have any queries regarding car loan process or anything, contact us through phone number e-mail.

EMI Calculator

Use our EMI calculator to calculate your loan amount. It is completely free and easy to calculate the monthly EMIs.

Second Hand Car Loan - Why Should You Opt for it?

Many people want to buy a new car but they don't have enough money to buy a new car. So, they go for pre owned cars. Many lenders are providing the loans for pre owned cars at attractive interest rates. So, many people wants to apply for a used car loan to fulfill their dream. Second hand car loans interest rates are completely different from new car loans. So, one can get a car at lowest interest rate.

FAQs about Bajaj Finserv Used Car Loan

1. What is the maximum loan amount can I borrow from Bajaj Finserv?

You can avail pre owned car finance up to 90% of the car value that is up to Rs. 20 lakhs depends on your eligibility.

2. What are the Loan Tenure options for Bajaj Finserv?

You can choose tenure ranging from 1 to 5 years depending up on your loan repayment capacity.

3. In which cities can I avail a second hand car loan from Bajaj Finserv?

You can avail a pre owned car loan from Mumbai, Pune, Hyderabad, Delhi, Ahmadabad, Bangalore, Chennai and Jaipur. More locations will be added soon.

4. How do I repay a pre owned car loan?

You can repay theloan in EMI by using the ECS facility.

5. Any special privileges for existing customers of Bajaj Finserv?

Yes, we offer more benefits for our existing customers. Contact the Bajaj Finserv sales representative for more benefits and pre approved offers.

6. Can I get new car loans from Bajaj Finserv?

No, you can get loans for pre owned cars.

7. Which cars can be financed?

You can get finance for any private car. There is no funding provided for: (i) Commercial or yellow plate cars. (ii) cars owned by more than 3 previous owners. (iii) More than 10 years of age of pre owned car at the end of a loan.