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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 Existing Alphera Financial Services Customers.

Can I change my EMI date?

You can now choose your EMI date to either fall on the 01st or the 16th of every month as per your convenience.

Requirements: A postdated cheque for the next EMI, ACH forms (3 copies) and cancelled cheque.

Date change charges: INR 500 (additional taxes applicable).

Can I make a Part-Payment towards my Loan Contract?

You can now make Part Payment(s) towards your Retail Loan up to a maximum of 25% of the Principal amount outstanding in 1 or maximum 2 tranches in a year.

You can choose to either reduce your Loan tenure or reduce the subsequent EMI’s as a result of the Part Payment without incurring any additional charges.

Please request for a tentative payment schedule to understand the tentative changes post the Part-Payment via email at .

How can I change my registered bank Account for payments of EMI’S (Bank Swap)?

To change your registered bank account for EMI deductions kindly share one month latest bank statement of the new Account that you wish to register.

Alphera Financial services will check and confirm the feasibility and future viability of the account.

Once approved, you will be required to share a postdated cheque for the next EMI, ACH forms (3 copies) and an undated Security cheque.

Bank Swap charges: INR 500 (additional taxes applicable).

What is the procedure to update my registered Car details?

You can simply update your RC details by sharing a scan copy of your registration Certificate via email at .

Kindly ensure the following on your RC:

  • VIN Number
  • Engine Number
  • Hypothecation (HP) in the name of BMW Financial Services
  • Correct Model & Variant name

How can I claim the refund of my TDS that I deposit?

Claim your refund for the TDS paid by updating your TAN number details with us or by sharing the Digitally Signed Form 16A (TDS Certificate) via email at .

TDS deducted @ 10.00% on the interest amount and subsequently deposited against the PAN of BMW India Financial Services Private Limited shall be refunded by us, basis TAN number updated in our records and as appearing in the statement of 26 AS.

PAN No for BMW India Financial Services Private Limited: AADCB8986G

Please Note: The TDS Refund shall be processed to the bank account registered against your Retail Loan Contract.

Where/How can I access my Loan Statement and Loan Schedule?

You can request for a current dated Statement of Accounts & Payment Schedule through Email or by calling the Customer Interaction Centre on the below coordinates:

How can I Terminate my Loan earlier than its maturity date?

You can ask for an early termination quotation for any specific date when you wish to close the loan.

Post receiving the quotation, you can transfer the funds through RTGS/NEFT or Cheque/ Demand Draft, however ensuring clearance of your latest EMI.

Early Termination charges:

  • Retention - NIL
  • Within the first 6 months – 5% (additional taxes applicable) on the Principal Amount Outstanding.
  • Within the first 12 months – 3% (additional taxes applicable) on the Principal Amount Outstanding.
  • After completing 12 months - 2% (additional taxes applicable) on the Principal Amount Outstanding.
For Retention definition, please refer Retail Finance Agreement.

What are the steps to be followed after Loan closure?

Alphera India Financial Services will issue a No Objection Certificate (NOC) along with 2 copies of Form 35, both valid for 90 days after closure of your Loan.

You have to simply submit Form 35 at the RTO and get the hypothecation removed within the validity period.

Can the NOC be renewed if the validity period expires?

You can request for a Duplicate NOC any time through Email or by calling the Customer Interaction Centre on the below coordinates:


1st Duplicate NOC – NIL
2nd Duplicate – INR 1000 (additional taxes applicable)

What are the bank details for Alphera Financial Services?
Current Account No. BMWFCN00XXXXXX
IFSC Code ICIC0000104
Account Name BMW India Financial Services PVT LTD

You can now transfer payments to BMW India Financial Services using the bank account details given above

Direct Payment Link

**Please refer the above link for applicable charges.
Please confirm the below payment details via email post transferring any funds:

  • Amount
  • Transaction Reference Number/UTR Number
  • Reason for funds transfer
For any further concerns/queries, please feel free to contact the Customer Interaction Centre on the below coordinates: Our Customer Interaction Centre remains open from 0830 Hrs. to 1700 Hrs. Monday to Friday and we shall respond to you within 24 working hours on your registered email id.


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