The term of your vehicle finance depends on several factors: on the one hand, the amount of the down payment is decisive – on the other hand, the monthly instalment amount. The quicker you pay off the vehicle, the quicker financing comes to an end and the vehicle is yours. You determine the finance term in conjunction with your Mercedes-Benz dealer.

You must be of legal age and of full legal capacity to secure car financing via the Mercedes-Benz Financial

During the entire period of car financing, the Daimler Financial Services India remains the owner of the vehicle. Once the last instalment has been paid off, the new or used car is transferred to your ownership. The Mercedes finance is concluded and you receive the vehicle title of ownership. The vehicle registration document is, of course, in your possession from the very beginning.

Covers the depreciation amount on assessed damaged parts allowed for replacement during repairs in the event of a Partial Loss to the Insured Vehicle.

Replace insured car with a new equivalent or near equivalent car of similar make, model, inclusive of a Comprehensive Cover Policy, cost of registration including Road Tax and Octroi, payable for the new car.

Covers the consequential damage to the internal parts of the engine and/or damage to gear box arising out of water ingression/leakage of lubricating oil, due to Accidental means.

 

In case of damage to Tyre(s) and Rim(s) of the car arising out of bulge/puncture/burst/cut, the cost of replacement of Tyre(s) and Rim(s), (Up to 4 Tyres & 4 Rims during a policy period) is covered.  

This cover pays the EMI (not exceeding one) falling due after the accident of the vehicle in respect of the Loan availed, provided vehicle is lying in the workshop for repairs following an accident exceeding thirty (30) days due to:
a. Non-availability of parts at the repairer or
b. Workshop is closed due to strike/lock-out or
c. Extensive damage to the vehicle resulting in man-hour requirement exceeding 30 days and certified by the independent surveyor appointed by the Company.
 

In case of irrecoverable loss of keys of the Insured Vehicle, the cost of new lock set and installation cost would be covered. The benefit is once in a policy period. The sum insured for this cover is Rs.30,000.

Coverage for the cost of consumables required to be replaced/replenished during the repair of the damaged vehicle. It includes, engine oil, gear box oil, power steering oil, coolant, AC gas oil, brake oil, AC refrigerant, battery electrolyte, windshield washer fluid, radiator coolant, nut & bolt, screw, oil filter, fuel filter, bearings, washers, clip, wheel balancing weights, and items of similar nature excluding fuel.  

A per day cash benefit for 7 days, if the vehicle is rendered unusable due to repairs required to be undertaken in a workshop consequent to an Accidental loss. Benefit will start after the survey is done.

 

1. How do I get my Statement of account ?

• Log in to customer online service portal (www.mymbfs.com) and Click on vehicle image. Select “Statement of account” tab. Choose the period for which SOA is required and click Download.

 

2. How do I get my Repayment schedule ?

• Log in to customer online service portal (www.mymbfs.com) and Click on vehicle image. Select “Repayment Plan” tab. Choose the period for which repayment schedule is required and click Download.

 

3. How do I get my Balance confirmation / Interest Certificate ?

• Log in to customer online service portal (www.mymbfs.com) and Click on “Payments” tab on left side of the window. Click on “View payment details” button. Scroll down and select “Balance confirmation” tab. Choose the period for which Balance confirmation is required and click Download.

 

4. When can I get the updated Statement of account after I make the payment ?

• Once you share the payment details, you can download the updated statement of account in 2 working days

 

1. What are the available EMI Date cycles ?

• The Available EMI date is 4th,7th,13th or 18th of every month.

 

2. Can I change my EMI date?

• Yes, you can change the EMI date as per above mentioned EMI cycle dates. The request needs to be sent from your registered email ID to dfsindia@daimler.com /   bbfindia@daimler.com.

 

3. What documents do I need to submit to process EMI date change ?

• If repayment mode is through ACH - PDC (Postdated cheques) for the next two EMIs, ACH forms (3 copies), interim interest charges (if applicable) through cheque or NEFT

• If repayment mode is through PDCs - PDC (Postdated cheques) for the remaining EMIs, Signature Verification form, interim interest charges (if applicable) through cheque or NEFT

 

4. Are there any charges applicable for EMI date change ?

• Interim interest will be charged from the old EMI date to new EMI date. The amount has to be settled through cheque/ NEFT.

 

5. What are the bank details of Daimler Financial Services India Private Limited?

6. Where do I share details of EMI or other Outstanding charges payment?

• E-mail: dfsindia@daimler.com with transaction Reference Number/UTR Number and reason for fund transfer

 

7. Where do I  download my EMI receipts?

• Log in to customer online service portal (www.mymbfs.com) and Click on “Payments” tab on left side of the window. Click on “View payment details” button. Scroll down and select “Transaction history” tab. Choose the period for which receipts are required and click Download.

1. What is COB ?

• COB means Change of Bank.

 

2. Are there any COB Charges applicable ?

• Yes, you need to pay ₹1180/- ( Charges ₹1000 + G.S.T.18%)

 

3. What documents are required to process COB in ECS-ACH Mode?

• Send the request along with reason for COB from your registered email id to dfsindia@Daimler.com and 3 months bank statement

• Post our confirmation, please share 2 post dated EMI cheques, ACH forms (3 copies), Undated Security post dated cheque and Bank Swap charge cheque of ₹1,180/-

• All cheques must to be issued favoring “Daimler Financial Services India Private Limited".

 

4. What documents are required to process COB in Post Dated cheques mode ?

• Send the request along with reason for COB from your registered email id to dfsindia@Daimler.com and 3 months bank statement of new account

• Post our confirmation, please share post dated EMI cheques for remaining EMIs, softcopy of signature verification form attested by the banker and Bank Swap charge cheque of ₹1,180/-

• All cheques must to be issued favoring “Daimler Financial Services India Private Limited".

 

5. Where do I send COB documents?

• Customer Service Team, Daimler Financial Services India Private Limited, E-3, MIDC, Phase-III, Chakan Industrial Area, Kuruli & Nighoje, Taluka Khed, Pune, Maharashtra 410501.

 

6. In how many days the new bank account will get registered?

• It will take at least 45 days to register the new bank account.

7. What details need to be filled in ECS-ACH forms?

•  For more information, please contact the nearest dealer or contact us at:

  E-mail : dfsindia@daimler.com

  Toll free number 1800-212-3374

 

8. What would happen to my old cheques?

• If we receive a request from your registered email id, we will retrieve the old cheques and send it to your registered address in 30 working days.

• If no request is received, we destroy the cheques in 15 working days from the day of processing of COB request in our system

 

9. How do I get blank ACH forms?

• Log in to customer online service portal (www.mymbfs.com) and go to “Support” section at the top right corner of the window and then “Forms” tab.

 

1. What is ET Quote ?

• ET quote is Early Termination quotation.

 

2. When can I early terminate my loan?

• Early termination of loan can be done post completion of at least 6 months period.

 

3. How do I early terminate my loan?

• Send the request for ET quote from your registered email id to dfsindia@Daimler.com

• We will share the ET quote along with bank details to make the payment. Please note early termination quotation cannot be generated 6 days prior & post EMI date.

• In case of Net-off TDS, Early termination quote would include TDS outstanding (if applicable). Share the transaction Reference Number/UTR Number

 

4. Are there any early termination charges applicable ?

• Yes, 4% charges on principle outstanding on the date of request plus 18% GST will be applicable as per the loan agreement

 

5. Can I make ET payment in parts?

• Yes, ET payment can be made in parts but within 3 days (not working days) of ET quote validity date

 

6. Can third party make ET payment on my behalf?

• Yes. Please submit Third party declaration form along with KYCs of the third party. To download third party declaration form, kindly visit COS (Customer online service portal) at www.mymbfs.com

 

7. When would I receive the original NOC of early terminated loan?

• Once the loan is early terminated in our system, we will share the soft copy of NOC on your registered email id within 7-8 working days and original NOC/Documents will be dispatched to your registered address within 15 working days from the date of closure.

1. Is there any part principal pre-payment charges applicable?

• Yes, 4% charges on part principal pre-payment on the date of request plus 18% GST will be applicable as per the loan agreement

 

2. How do I make part principal pre-payment ?

• Send the request mentioning part principal pre-payment amount from your registered email id to dfsindia@Daimler.com Please specify clearly if the amount is inclusive or exclusive of part principal pre-payment charges. Also confirm if you wish to reduce EMI or tenure.

• We will share the Mock repayment schedule on your registered email id

• Confirm to proceed

• Share the payment details. We will execute the request and share revised repayment schedule for your reference

1. What options are available at the end of tenure?

• You can pay the balloon EMI or refinance and retain the car

• You can surrender the existing car

• Upgrade to your next car.

 

2. Can I re-finance the balloon payment at the end of contract?

• Yes, Re-finance is offered at the sole discretion of DFSI.

 

3. What is the current rate of interest charged on re-finance?

• Kindly reach out to nearest dealer for more details

 

4. Is it possible to change the kilometer terms in between contract of STAR Agility?

• No, kilometer terms are decided at the start of contract and remains fixed throughout the term.

 

5. Where do I surrender the vehicle?

• The car should be handed over to the dealer from where you had taken the delivery.

 

6. When would I get refund of my security deposit?

• Security deposit would be refunded within 7 working days from the date of closure. Any overdue towards the account would be adjusted on your confirmation before initiating refund. Please share alternate account details if existing account is closed or is NRE/NRO account.

 

7. End of term guide ?

Please download below link –

Agility end of term guide

 

8. I want to Surrender my car under Agility scheme?

Please find the below process which has to be followed.

• Contact your dealership for Vehicle Pre-Inspection before 30 days of your contract maturity.

• Wait for dealer assessment and evaluation of your car and pay excess wear & tear costs, if any.

• Please find the enclosed Surrender Letter/ Mutual Consent Letter to be mutually signed by you and the dealer. The scanned copy needs to be sent 10 days before contract maturity to initiate 'Stop EMI' from our end.

     Download mutual consent letter

1. What is (NOC) No objection certificate?

2. How do I request for NOC?

Please write to us at dfsindia@daimler.com or call us on toll free number 1800-212-3374

 

3. What is the validity of a NOC?

• NOC is valid for a period of three months.

 

4. How do I remove hypothecation from RC?

• Submit NOC and other required documents to local RTO to remove hypothecation.

 

5. Benefits of having NOC for removal of hypothecation?

• It is important to have a legal document which clearly states that you do not owe anything more to the lender. This way you are protected legally.

1. What is COS (Customer online service) portal?

• It is a self service customer online portal where you can view or download details related to your loan.

 

2. How do I register on COS (Customer online service) portal?

• Visit customer online service portal (www.mymbfs.com). Click on “Register Now”, enter PAN# and click Continue to receive OTP on your registered mobile number. Enter the OTP to set the password. You may now sign in by entering registered email id as username and newly set password.

 

3. What services are offered by Customer online service) portal?

• You can download SOA, Repayment schedule, Balance confirmation, EMI receipts and Overdue details. You can also change your email id, mobile # and address.

 

4. How do I download SOA (Statement of accounts) and Balance confirmation?

• Log in to customer online service portal (www.mymbfs.com) and Click on vehicle image. Select “Statement of account” tab. Choose the period for which SOA is required and click Download. For balance confirmation, click on “Payments” tab on left side of the window. Click on “View payment details” button. Scroll down and select “Balance confirmation” tab. Choose the period for which Balance confirmation is required and click Download.

 

5. What is the process to update the address or Change of address ?

• Log in to customer online service portal (www.mymbfs.com) and click on “My Profile” tab on left side of the window. Scroll down to address section and click on “edit”. Update or change the address and upload supporting documents.  For the list of OVDs (Officially valid documents) please go to “support” section at the top right corner of the window and then “Forms” tab. Please note that request would be rejected if supporting documents are invalid, illegible or mismatch between documents and the address updated on COS portal.

 

6. Is Aadhaar Mandatory to update \ Change address?

• No, Aadhaar is not Mandatory.

 

7. I am Unable to update \ Change Address in COS Portal and in Website?

• You can write to us at dfsindia@daimler.com from your registered email id or call our toll free number 1800-212-3374 from registered Mobile Number.

 

8. How will I know if my Address has updated \ Changed in your record?

• Log in to customer online service portal (www.mymbfs.com). Click on the Email icon on top left side of the window to view the confirmation email.

 

9. My registered Mobile number is not in use now, how do I register my new mobile number?

• Log in to customer online service portal (www.mymbfs.com) and click on “My Profile” tab on left side of the window. Scroll down to Preferred Mobile section and click on “edit”. Change the mobile#. You will receive an OTP, enter the OTP to confirm changes. Your mobile number is now updated.

 

10. How do I update my Email id?

• Log in to customer online service portal (www.mymbfs.com) and click on “My Profile” tab on left side of the window. Scroll down to Preferred Email section and click on “edit”. Change the email id. You will receive a verification email with link. Click on the link to confirm changes.

1. Whom should I contact for Mercedes-Benz product and service related queries ?

• Please contact cs.ind@cac.mercedes-benz.com

 

2. Whom should I contact for Bharat Benz product and service related queries?

• Please contact dicv_service@daimler.com

1. What is loan Restructure?

• Loan restructuring is a process in which borrowers facing financial distress renegotiate and modify the terms of the loan with the lender to avoid default subject to discretion of the lender.

 

2. How do I avail the restructuring benefit on my loan?

• Customers shall write to dfsindia@daimler.com to restructure the loan. The feasibility of restructuring a loan is under the discretion of DFSI

 

3. What is the effect of loan restructure on credit score?

• Loan is reported to the Bureau as “Restructured”, which will have an impact on the credit score.

 

4. If restructuring is approved by DFSI, what will be the initial procedure?

• Outstanding charges to be settled by Customers

• Restructuring fee – INR 5000/- per loan is applicable

• Mock Repayment schedule will be shared, by increasing the Interest Rate up to 2.5%

 

5. Will all stakeholders of the loan (Borrower/ Co-borrower/ Guarantor) will have their credit score affected?

• Yes, the credit score will be impacted for all stakeholders in the loan

1. What are Contract Changes?

• Any changes in the constitution of the Borrower/ Co-borrower/ Guarantor of the loan

 

2. What are the scenarios for contract changes?

• Death of Borrower, Change in constitution, Mergers and Acquisitions

 

3. What all documents to be submitted for contract changes?

• This depends on the type of scenario. Kindly write to dfsindia@daimler.com and we will share the supporting documents required to process your request.

1. What is meant by CIBIL?

• CIBIL (Credit Information Bureau (India) Limited) is a Credit Bureau or Credit Information Company. This company is engaged in maintaining the records of all the credit-related activities of companies as well as individuals including credit cards and loans

 

2. How do I know my Cibil score?

• Log on to the CIBIL website. Enter personal details such as name, PAN card number, date of birth, gender, etc. clear the personal verification process, and make a fee payment in order to access your credit report.

 

3. Whom do I approach for any dispute related to Cibil reporting?

• You may write to us at dfsindia@daimler.com from your registered email id with your loan account number and latest Cibil report.

• You may call us at 1800 212 3374

 

4. Do Customers with Net Off TDS EMI loan reported in Cibil?

• Customer with Net Off TDS EMI is reported in Cibil if total TDS outstanding is more than 1 EMI.

 

5. How many days does it take to rectify in CIBIL due to incorrect reporting?

• Correction of individual CIBIL takes 7 working days and commercial CIBIL takes 25 working days.

 

6. What action is expected from my side if EMI is net off TDS ?

• File TDS return basis repayment schedule, quarterly

• For more information, you may write to us at dfsindia@daimler.com

1. What is TDS Pro software?

• TDS Pro is DFSI’s TDS management software for customers.

 

2. How do I access TDS Pro Software?

• Click on the link https://www.update.daimlerfinancialservices.in/TDSPRO/Login/Index to access TDS Pro software.

• Enter user id as PAN# and Password as shared on registered email ID.

 

3. I am unable to login to TDS Pro software?

• You can write us at dfsindia@daimler.com from your registered email id or call our toll free number 1800-212-3374 from registered Mobile Number.

 

4. What are the benefits of using TDS Pro software?

• You can view and download entire TDS transactions with DFSI over the life of a contract

• You can request refund in case of Gross TDS contracts

• You can upload breakup in case of mismatch in TDS projections and Form 26AS

• You can check the expected TDS which needs to be deposited over the life of a contract.

 

5. How do I share TDS breakup in case of variance?

• Login to TDS Pro software and provide correct contract wise, month wise breakup and submit. DFSI Team shall validate the same and approve the breakup.

 

6. How do I get TDS refund in Gross TDS contracts?

• You need to apply for Refund on TDS Pro software. DFSI Team shall verify and initiate the refund.

 

7. How do I submit TDS certificates?

• There is no need to provide TDS Certificates from the period 1 April 2017, as we are using the credits appearing in Form 26AS. For period prior to 1 April 2017, please share TDS certificates on dfsindia@daimler.com from your registered email id. You may also send physical TDS certificates to below address:

• Customer Service Team, Daimler Financial Services India Private Limited, E-3, MIDC, Phase-III, Chakan Industrial Area, Kuruli & Nighoje, Taluka Khed, Pune, Maharashtra 410501.