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Frequently Asked Questions (FAQ).

With Alphera it has never been easier to finance the vehicle of your dreams. But if you still have questions - the answers are here.

For New Alphera Financial Services Customers.

How is Alphera Financial Services associated to BMW Financial Services?

Alphera Financial Services is a part of the BMW Group Financial Services, which is one of the world's leading providers of automotive financial services.
Our entity is registered under Companies Act, 1956 in the name of BMW India Financial Services Private Limited. Alphera Financial Services is a trading name under our aforesaid entity. For the purpose of hypothecation on Registration certificate the law mandates capturing of the legal entity name, and not the trading name, hence the vehicle hypothecation has to be done favouring, BMW India Financial Services Private Limited“. Accordingly all payment are made favouring BMW India Financial Services Private Limited.

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What are the product offerings of Alphera Financial Services and how can I approach you?

Alphera Financial Services is dedicated to providing the customers with the type of products, professionalism and efficient service required to make the transition from showroom to highway both pleasant and memorable.

For further details contact contact our Customer Interaction Centre at AlpheraCustomerService@Alphera.in or at the toll free number 1-800-1022-269.

Or contact the Finance Manager at an Authorized Dealership for Alphera Financial Services.

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What is the turnaround time for loan approval from Alphera Financial Services?

Loans are generally approved within 4 working hours of submission of complete documentation by the dealership. However, loan approval is at the sole discretion of BMW India Financial Services Private Ltd as per our internal guideline.

For further details contact contact our Customer Interaction Centre at AlpheraCustomerService@Alphera.in or at the toll free number 1-800-1022-269.

Or contact the Finance Manager at an Authorized Dealership for Alphera Financial Services.

(Documents submitted may require authentication as per BMW India Financial Services Pvt Ltd guidelines)

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What are the loan tenure options available on a loan from Alphera Financial Services?

Alphera Financial Services offers customers the option to choose a loan tenure between12 month to 84 months.

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What is the maximum amount I can borrow with an Alphera Financial Services loan?

Alphera Financial Services can fund up to 85% of the ex-showroom price of the vehicle, higher funding can be done subject to the discretion of BMW India Financial Services Private Ltd as per our internal guideline.

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Who can avail Alphera Financial Services loan?

All resident Indian individuals / entities registered in India / NRI and foreign citizens resident in India.

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Can my spouse’s income be included for calculation of the approved loan amount?

Yes, your spouse’s income can be included for calculation of the approved loan amount, provided the spouse is taken as co-borrower for the loan.

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Does Alphera Financial Services offer fixed or floating rate of interest?

Alphera Financial Services offers fixed rate of interest on a monthly reducing balance.

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What are the tenure options available for loans on pre-owned cars?

The tenure options available for loans on pre-owned cars is upto 5 years, provided the age of vehicle at the end of loan tenor does not exceed 8 years.

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What documents are required to apply for a loan with Alphera Financial Services?

To apply for a loan with Alphera Financial Services you will need to submit the following documents:

Know Your Customer (KYC) documents (Photo Id Proof, Address Proof, Signature Proof), Proof of Income and latest bank statement are the primary documents.

Other documents may be required, subject to discretion of BMW India Financial Services Pvt Ltd and our internal regulatory guidelines.

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What are the various charges applicable?

Loan Statement Charges and Amortization Charges
• Via email – free of cost
• Hardcopy – INR 500.00
Charges for Swapping of Bank Account or /and instrument change
• INR 500.00 per swap request
Change in EMI Due Date
• INR 500.00 per Swap request
Change in agreement (Constitutional Change or change in applicant/ co applicant/ guarantor)
• INR 2,500.00 plus actual stamp duty cost
Bounce Payment Charges
• INR 500.00 per occurrence
Late Payment Charges
• 2% per month on unpaid EMI
Letters for specific purpose
• Via email – free of cost
• Hardcopy – INR 500.00
NOC Issuance Charges along with Form 35
• First hard copy – Free of cost
• Duplicate hard copy – INR 1,000.00
NOC (other than Loan closure and addressed to RTO for active Contracts)
• INR 500.00 per occurrence

Early termination Charges
Within 12 months of activation of loan
• Retention – Nil
• Others – 3% of principal outstanding
After 12 months of activation of loan
• Retention – Nil
• Others – 3 % of principal outstanding
Loan Party 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 India Financial Services without Prior intimation.

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How is Alphera Financial Services related to BMW Financial Services?

Alphera Financial Services is a part of the BMW Group Financial Services, which is one of the world's leading providers of automotive financial services.

Our entity is registered under Companies Act, 1956 in the name of BMW India Financial Services Private Limited. Alphera Financial Services is a trading name under our aforesaid entity. For the purpose of hypothecation on Registration certificate the law mandates capturing of the legal entity name, and not the trading name, hence the vehicle hypothecation has to be done favouring, BMW India Financial Services Private Limited“. Accordingly all payment are made favouring BMW India Financial Services Private Limited.

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.

Disclaimer: Kindly note that these FAQs are for ready reference and the applicability of the above mentioned responses may vary from customer to customer. Please be informed that in case of any conflict between these FAQs and your Retail Finance Agreement, the terms and conditions of the Retail Finance Agreement shall prevail.

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