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 amount and exclude service tax*
1. Loan Statement Charges and Amortization Charges Via email: Free of cost, Hardcopy: INR 500.00
2. Charges for Swapping of Bank Account or /and instrument change INR 500.00 per swap request
3. Change in EMI Due Date INR 500.00 per swap request
4. Change in agreement (Constitutional change or change in applicant/ co applicant/ guarantor) INR 2,500.00 plus actual stamp duty cost
5. Bounce Payment Charges INR 750.00 per occurrence
6. Late Payment Charges 2% per month on unpaid EMI
7. Letters for specific purpose Via email: Free of cost
Hardcopy: INR 500.00
8. NOC Issuance Charges along with Form 35 First hardcopy: Free of cost, Duplicate hardcopy: INR 1,000.00
9. NOC (other than Loan closure and addressed to RTO for active Contracts) INR 500.00 per occurrence
10. Early Termination Charges
Within 12 months of activation of loan: Retention: Nil; Others: 3% of
After 12 months of activation of loan: Retention: Nil; Others: 2% of
11. Loan Part payment Charges
Within 12 months of activation of loan Others - 3% of part payment amount
After 12 months of activation of loan Others - 2% of part payment amount
* Service Tax 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 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 BMW Financial Service and BMW Financial Services reserves the sole right to ask any further information in relation to such document(s) or information.