Bajaj Finance offers three variants on select loan products – Term Loan, FleSelect
xi Term Loan, and Flexi Hybrid Loan. When you choose any of these Flexi variants, a loan limit is assigned to you. You can use this limit to withdraw funds as and when you need it without any additional charges. However, the interest is charged only on the amount you’ve withdrawn and not the entire limit. Flexi variants also let you part-prepay your loan as per your convenience without any additional fee.your loan account from ‘My Relations’
When you choose either of our Flexi Loan variants, you have the option of registering two different bank accounts. This includes your repayment bank account and the drawdown bank account.
How to update your repayment bank account for your Flexi Loan?
Your repayment bank account is the one from which your monthly instalments are deducted on a pre-set date. You share the details of this bank account when you apply for the loan.
If you have an ongoing Flexi Loan with Bajaj Finance and your repayment bank account undergoes any change, you can update it online. This facility allows you to manage your EMI payment without any hassles. You can visit our customer portal – My Account and use online Bajaj Finserv services to update it.
- Click on the ‘Sign-in’ button on this page to visit our customer portal.
- Sign-in with your registered mobile number and the OTP.
- Enter your date of birth to verify your details and proceed.
- Select the loan account from the ‘My Relations’ section.
- Click on ‘Change Bank Account’ below your repayment bank account details.
- Enter the required details, such as bank name, IFSC and more.
- Choose your registration mode and proceed.
How to update your drawdown bank account for your Flexi Loan?
Your drawdown bank account is the one in which you receive the funds you withdraw from your available Flexi Loan limit. You can use your repayment bank account to receive funds, or you can also register another bank account to receive funds.
In case you want to receive funds in a different account, you can update it online by visiting our customer portal – My Account.
- Click on the ‘Sign-in’ button to go to My Account – Bajaj Finance customer portal.
- Enter your registered mobile number and the OTP to sign-in.
- Verify your details by entering your date of birth and proceed.
- Select your loan account from ‘My Relations’.
- Click on the ‘Drawdown Bank Change’ option from ‘Quick Actions’.
- Verify your details and proceed to complete OTP verification.
- Enter the new bank account details, IFSC, and proceed.
- Complete your KYC verification using DigiLocker and proceed with bank account change.
You can also download our app from Play Store/ App Store and update your Flexi Loan bank account details while you are on the go.
