Customer Home Financing Products Dealer Locator About Us FAQ / Glossary Contact Us
Customer_Answers

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.

How do I request for various statements like Amortization Schedule and Statement of accounts?

Send us an email request at AlpheraCustomerService@Alphera.in from your registered email id or contact our Customer Interaction Centre at the toll free number 1-800-1022-269.

Processing Charges for the above request shall be applicable are as under:

Processing Charges*
Soft Copy (through e-mail) Nil
Hard Copy (Printed statement through courier) INR 500.00

* Taxes as applicable

Close
How can I change my contact information with Alphera Financial Services?

For Address Change: Send us an email request at AlpheraCustomerService@Alphera.in from your registered email id or contact our Customer Interaction Centre at the toll free number 1-800-1022-269.

Additionally, please submit a self attested, scanned image of any of the following documents, stating the new address:

• Passport (Valid)
• Voters’ Identity Card
• Latest Bank Statement/Passbook
• Bank Statement / Passbook
• Bank Passbook / Bank's letter on letterhead with individual's name, address & photograph1
• Identity Card issued by Central / State Government / Union Territories / PSUs / Banks (except Ration Card)
• Current Year Property Tax Bill / Receipt
• Ownership Proof from Registered Title Deeds establishing ownership proof of the Address
• Utility bill2
• Valid Lease/Leave & License Agreement copy with Utility Bill in the name of land lord / owner3

Note:
1From bearing Account holder's address, photograph attested with bank's seal and entries of at least one month from the preceding 3 months.
2Copy of electricity bill, telephone bill, water bill, gas connection book along with gas bill not more than 3 months old.
3In the case of Unregistered Leave & License Agreement, permanent address proof also to be collected.


For Contact Numbers Change: Send us an email request at AlpheraCustomerService@Alphera.in from your registered email id.

For Registered Email address change: Send us an email request at AlpheraCustomerService@Alphera.in from your registered email id or contact our Customer Interaction Centre at the toll free number 1-800-1022-269 confirming the new e-mail id. Details are changed subject to security check.

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

Close
How can I change my Bank Account via which I am currently paying my loan instalments?

Send us an email request at AlpheraCustomerService@Alphera.in from your registered email id or contact our Customer Interaction Centre at the toll free number 1-800-1022-269.

Please state the reason for changing your current bank account, with confirmation on the account status (i.e. active or closed).

Please submit the following documents:
- In case the replacement bank account is more than 3 months old, please submit the last 3 months bank statement for the replacement bank account.

- In case the replacement bank account is recently opened bank account i.e. less than 3 months old , please submit the following documents:


• Bank statement from the date of account opening till date.
• A letter from the bank, confirming the new account opening date or a welcome letter.
• Last 2 months statement of your existing bank account (the account from which your EMIs are being currently paid)

Processing Charges applicable: INR 500.00 plus service tax, once your request is approved.

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

Close
How can I change my EMI / Payment due dates?

Send us an email request at AlpheraCustomerService@Alphera.in from your registered email id or contact our Customer Interaction Centre at the toll free number 1-800-1022-269.

Please note:

• The EMI date can only be either 1st or 16th of the month.
• Deferred Interest will be charged, for a period of 15 days when you opt for the next EMI date.
• Processing Charges applicable: INR 500.00 plus service tax.

Close
How can I claim for TDS refund, since I have paid you gross EMI?

As per the Income Tax Act 1961, if you are required to deposit TDS on the interest component of your loan instalment, please submit the TDS certificate along with a refund request letter to Alphera Financial Services. We shall arrange to transfer the amount as mentioned in TDS certificate within 14 working days of submission.

Please note the following details for BMW India Financial Services Private Limited:

PAN:
AADCB8986G
Service Tax Number:
AADCB8986GSD001
Registered Address:
BMW India Financial Services Pvt. Ltd.
DLF Cyber City, Phase II,
Building No. 10, Tower C
14th Floor, Gurgaon 122002
Haryana, India

We request the Customer to pay the gross EMI amount as per company policy. The TDS @ 10.00% on the interest amount paid and deposited shall be refunded by us, on timely receipt of duly completed certificate and request letter from the Customer end.

TDS refund can also be claimed after 1 month from the end of each quarter (after you file your TDS refund and same is recorded on Income Tax site – 26AS).

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

Close
How can I make a part payment for my loan with Alphera Financial Services and what are the applicable charges?

Send us an email request at AlpheraCustomerService@Alphera.in from your registered email id or contact our Customer Interaction Centre at the toll free number 1-800-1022-269.

Alphera Financial Services offers the customer the facility of Part Payment.

Part payment of your loan amount will have an impact on your loan amortisation schedule. You may choose from either of the following options:

Option I: Keep your EMI amount same as existing and reduce the loan tenure
Option II: Keep your loan tenure same as existing and reduce the EMI amount
Option III: Reduce others. This option is only available for a loan contract with bullet or balloon EMI scheme.

Once the above information is made available to us, our Customer Interaction Centre will send you the approximate calculation at your registered email Id.

Payment can be made with an electronic transfer or can be deposited in the BMW India Financial Services Bank Account via cheque. Please contact our Customer Interaction Centre for more details.

The part payment charges are applicable as below:

Loan Part-Payment Charges*
• Within 12 months of activation of loan 3% of part payment amount.
• After 12 months of activation of loan 2% of part payment amount.

* Taxes as applicable

Any part payment made within 12 months preceding the early termination request made by the Borrower will be treated as payment towards early termination of loan and would attract applicable charges for early termination as mentioned in Schedule 1 or such other charges as may be amended from time to time at the sole discretion of BMW Financial Services.

Close
How can I Early Terminate my loan contract with Alphera Financial Services and what are the charges?

Send us an email request at AlpheraCustomerService@Alphera.in from your registered email id or contact our Customer Interaction Centre at the toll free number 1-800-1022-269.

Our Customer Interaction Centre will send you your ‘Early Termination Quote’ at your registered email Id specifying the total outstanding amount. Payment can either be made via an electronic transfer or can be deposited via cheque/Demand draft to the BMW Financial Services Bank Account.

Early Termination Charges*
• Within 12 months of activation of loan
o Others – 3 % of principal outstanding
• After 12 months of activation of loan
o Retention – Nil
o Others – 2 % of principal outstanding

The borrorer shall not be entitled to terminate the loan contract in the first six months of the loan contract.

* Taxes as applicable.

Close
How can I get my ‘No Objection Certificate’ upon termination/ maturity of my loan contract?

Once your loan contract is closed with us, we shall send across original NOC along with Form 35, free of cost.

All subsequent NOC requests will be charged at INR1000.00 plus service tax.

Close
How can I get my vehicle details updated in your records?

Send us a scan copy of your ‘Vehicle Registration Certificate’ and Motor Insurance Policy with the hypothecation of BMW India Financial Services Private Limited at AlpheraCustomerService@Alphera.in. Upon verification the same shall be updated in our records.

Close
What are the various charges that may apply to my loan account?

Loan Statement Charges and Armortization 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
Bounce Payment Charges
• INR 500.00 per occurrence
Late Payment Charges
• 2% per month on unpaid EMI
Loan Part Payment Charges
• As per Schedule 1 to Retail Finance Agreement
Loan Prepayment Charges
• As per Schedule 1 to Retail Finance Agreement
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

* 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.

Close

What Alphera offers

All your automotive financial needs under one roof.

Learn more about our products
Contact

You have found the car of your dreams - here you can find the way to finance it.

Contact us now
Home Site Map Privacy Policy / Imprint Alphera.com