Interest rates offered are arrived on various parameters and defined under the Interest rate policy of the company. Key ones are competition benchmarking, tenure of the contract, inherent credit and evasion risks, previous track records, subventions and subsidies available.
Charges applicable are in INR and do not include Government Taxes as applicable*
1. Loan Statement and Amortization Schedule Via email: Nil Charges: Hardcopy: INR 500.00
2. Swapping of Bank Account or /and instrument change: INR 500.00 per swap request
3. Change in EMI Due Date: INR 500.00 per request
4. Change in agreement (Constitutional change of Business entity or Swap of applicant/ co applicant/ guarantor) INR 3,000.00 plus actual stamp duty cost and Taxes as applicable
5. EMI Bounce Charges INR 750.00 per occurrence
6. Late Payment Charges 2% per month on unpaid EMI
7. Part Payment Charges:
Within the first 12 months – 5% (additional taxes applicable) on the amount of Part Payment.
After completing 12 months – 3% (additional taxes applicable) on the amount of Part Payment.
8. Loan Prepayment Charges:
Retention – NIL.
Within the first 12 months – 5% (additional taxes applicable) on the Principal Amount Outstanding.
After completing 12 months – 3% (additional taxes applicable) on the Principal Amount Outstanding.
9. Letters for specific purpose via email: Nil Charges
Hardcopy: INR 500.00 (per letter Request)
10. NOC Issuance Charges along with Form 35: First Hardcopy: Nil Charges;
Duplicate Hardcopy: INR 1000.00.
11. NOC (other than loan closure and addressed to RTO for active contracts) INR 500.00 per request.
12. Processing Fee: INR 17500 (additional taxes applicable)
13. Stamp Duty charges: INR 400
* GST and other govt. taxes, levies, etc. applicable as per prevailing rate on the above Fees and Charges. Charges are subject to changes at the discretion of BMW India Financial Services without Prior intimation.
Note: Any document or information provided by the Customer shall only be accepted and confirmed after the due verification as per the standards and measures set up by BMW India Financial Services and BMW India Financial Services reserves the sole right to ask any further information in relation to such document(s) or information.