3 min
14-April-2025
If you've taken a Loan Against Securities (LAS) to unlock the value of your investments without selling them, understanding your EMI due date is crucial for smooth repayment and financial planning. An EMI (Equated Monthly Instalment) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. Missing or delaying your LAS EMI can lead to penalties, higher interest accumulation, or even liquidation of your pledged securities. Typically, the EMI due date is set during loan disbursal and remains fixed throughout the tenure—usually aligned with your salary or income cycle for convenience. Lenders often send reminders via SMS or email to help you stay on track, and some even offer auto-debit features for seamless payments. Knowing your due date ensures you maintain your credit score, avoid defaults, and enjoy uninterrupted access to your pledged portfolio. Let's explore why this date matters and how to manage it effectively.
For salaried individuals, having an EMI due date just after the salary credit date ensures that sufficient funds are available in the account, reducing the chances of missed or delayed payments. Similarly, for self-employed individuals or business owners who may receive payments at specific intervals, syncing EMI dates with income inflow can create a more predictable and manageable repayment routine.
Another reason for changing the EMI due date is to avoid late payment penalties and preserve a healthy credit score. A missed EMI, even unintentionally, can lead to negative marks on your credit report, increased interest burden, or even risk of collateral liquidation in the case of LAS. Adjusting the due date helps maintain timely payments and strengthens your creditworthiness.
Additionally, life events such as job changes, relocation, or unexpected financial obligations may disrupt your current financial cycle. In such cases, revising your EMI due date provides flexibility and control over your repayment schedule.
Most lenders offer the option to change your EMI due date once during the loan tenure. The process usually involves submitting a formal request, and in some cases, paying a nominal fee or signing an amendment agreement. It is advisable to check with your lending institution regarding their specific terms and conditions.
Ultimately, changing your EMI due date for a Loan Against Securities is a proactive step toward better financial discipline and stress-free loan management. It empowers borrowers to align repayments with their financial realities, ensuring that investments continue to grow while obligations are met without disruption.
1. Review your loan agreement
Before initiating any change, read your loan agreement carefully.
Look for clauses that mention EMI due date changes, including eligibility and restrictions.
Some lenders allow a date change only once during the tenure.
2. Check the lender’s policy
Visit your lender’s official website or contact customer service to understand their EMI date change policy.
Enquire if there are any fees, limitations, or documentation required.
Ask about timelines—how long it takes for the change to become effective.
3. Ensure eligibility
Make sure your loan account is in good standing.
Most lenders require that you should not have any pending dues or overdue EMIs.
A clean repayment track record may be essential for approval.
4. Decide on a suitable EMI date
Choose a new EMI date that aligns well with your income or salary credit.
Ensure the new date helps in better budgeting and cash flow management.
Avoid dates close to major monthly expenses to prevent cash crunches.
5. Submit a formal request
Fill out the EMI due date change request form—available online or at the lender’s branch.
Submit the form along with any required documents (like income proof or updated bank account details).
You may need to provide a written explanation for the request.
6. Authorise auto-debit (if required)
If your EMI is auto-debited, you may need to update the Electronic Clearing Service (ECS) or NACH mandate.
Your lender might ask you to re-submit or revise the ECS form with the new date.
7. Pay processing fee (if applicable)
Some lenders charge a nominal processing fee for changing the EMI date.
Make the payment online or at the branch as per the lender’s instructions.
8. Confirmation and communication
Once approved, you will receive official communication (SMS or email) confirming the updated EMI due date.
Always retain a copy of this communication for your records.
9. Monitor the first updated EMI
Keep track of the first EMI after the change to ensure it is debited correctly.
Report any discrepancies to the lender immediately.
By following these steps, you can efficiently change your EMI due date and gain better control over your Loan Against Securities repayment schedule.
1. Lender’s policy and conditions
Not all lenders allow EMI due date changes, or they may allow it only once during the loan tenure.
Always check with your bank or financial institution about the availability and terms of this option.
Confirm whether the change is permitted for your specific loan product.
2. Processing charges
Some lenders may charge a nominal processing fee for altering the EMI date.
Factor this cost into your decision, especially if you're trying to ease financial pressure.
Clarify whether the fee is one-time or recurring.
3. Loan repayment history
A clean repayment record is often a prerequisite for getting approval to change the EMI due date.
Ensure that your loan account is up-to-date with no overdue or missed EMIs.
Lenders may reject your request if you have a history of defaults.
4. Impact on auto-debit or ecs mandate
If your EMI is set up through auto-debit or ECS, the mandate may need to be updated.
This can require additional paperwork or re-registration with your bank.
Failing to update this could lead to missed payments even after the EMI date change is approved.
5. Alignment with cash flow
Choose a new EMI date that coincides with your salary or regular income inflow.
This reduces the risk of insufficient funds in your account on the due date.
Consider your monthly budgeting and other fixed expenses as well.
6. Timeline for implementation
The change in EMI date may not take effect immediately—it could take a billing cycle or two.
Plan accordingly to avoid confusion or missed payments during the transition.
Always ask your lender about the effective date of the change.
7. Documentation and formalities
Be prepared to submit a written request along with supporting documents like income proof or updated bank details.
Some lenders may also require you to visit the branch for verification or signing revised agreements.
Being aware of these considerations ensures a smooth transition and helps you make an informed decision when opting to change your EMI due date for a Loan Against Securities.
1. Limited eligibility
Many lenders allow the EMI due date to be changed only once during the entire loan tenure.
If you’ve already availed this option earlier, your request may be declined.
2. Pending dues or overdue payments
If you have any outstanding payments or missed EMIs, the lender may not permit a due date change.
It's essential to clear all dues beforehand.
You can check your Bajaj Finance outstanding payment to ensure your loan is in good standing.
3. Processing time and delays
The change may not reflect immediately—it can take up to one billing cycle.
Delays in updating mandates or ECS instructions may lead to auto-debit failures.
4. ECS/NACH mandate update issues
Failure to update your ECS or NACH details with the new EMI date may result in bounced payments.
This can lead to penalties or late fees from both your bank and lender.
5. Additional charges
Some lenders levy a processing fee for changing the EMI date, which may come as a surprise if not communicated clearly.
Always confirm any applicable charges in advance.
6. Lack of communication or confirmation
In a few cases, borrowers may not receive proper confirmation of the change, leading to confusion.
It’s vital to get written confirmation or email acknowledgment from the lender.
7. Incorrect execution
Mistakes in the request form, outdated contact details, or incomplete documentation can delay or nullify the request.
Double-check all information before submission.
To avoid issues, always track your my EMI status regularly and stay updated with your lender’s communication. Proper planning and awareness can make the EMI date change process smooth and hassle-free.
Why change the EMI due date for a loan against securities?
Changing the EMI due date for a Loan Against Securities (LAS) might seem like a minor adjustment, but it can significantly impact your financial convenience and overall loan management. Borrowers often choose to revise their EMI due dates to better align with their cash flow, salary cycle, or income from other investments, making it easier to manage monthly budgets without unnecessary financial stress.For salaried individuals, having an EMI due date just after the salary credit date ensures that sufficient funds are available in the account, reducing the chances of missed or delayed payments. Similarly, for self-employed individuals or business owners who may receive payments at specific intervals, syncing EMI dates with income inflow can create a more predictable and manageable repayment routine.
Another reason for changing the EMI due date is to avoid late payment penalties and preserve a healthy credit score. A missed EMI, even unintentionally, can lead to negative marks on your credit report, increased interest burden, or even risk of collateral liquidation in the case of LAS. Adjusting the due date helps maintain timely payments and strengthens your creditworthiness.
Additionally, life events such as job changes, relocation, or unexpected financial obligations may disrupt your current financial cycle. In such cases, revising your EMI due date provides flexibility and control over your repayment schedule.
Most lenders offer the option to change your EMI due date once during the loan tenure. The process usually involves submitting a formal request, and in some cases, paying a nominal fee or signing an amendment agreement. It is advisable to check with your lending institution regarding their specific terms and conditions.
Ultimately, changing your EMI due date for a Loan Against Securities is a proactive step toward better financial discipline and stress-free loan management. It empowers borrowers to align repayments with their financial realities, ensuring that investments continue to grow while obligations are met without disruption.
Step-by-step process to change your EMI due date
Changing the EMI due date for your Loan Against Securities (LAS) is a simple but structured process. Here’s a step-by-step guide in pointers to help you through it:1. Review your loan agreement
Before initiating any change, read your loan agreement carefully.
Look for clauses that mention EMI due date changes, including eligibility and restrictions.
Some lenders allow a date change only once during the tenure.
2. Check the lender’s policy
Visit your lender’s official website or contact customer service to understand their EMI date change policy.
Enquire if there are any fees, limitations, or documentation required.
Ask about timelines—how long it takes for the change to become effective.
3. Ensure eligibility
Make sure your loan account is in good standing.
Most lenders require that you should not have any pending dues or overdue EMIs.
A clean repayment track record may be essential for approval.
4. Decide on a suitable EMI date
Choose a new EMI date that aligns well with your income or salary credit.
Ensure the new date helps in better budgeting and cash flow management.
Avoid dates close to major monthly expenses to prevent cash crunches.
5. Submit a formal request
Fill out the EMI due date change request form—available online or at the lender’s branch.
Submit the form along with any required documents (like income proof or updated bank account details).
You may need to provide a written explanation for the request.
6. Authorise auto-debit (if required)
If your EMI is auto-debited, you may need to update the Electronic Clearing Service (ECS) or NACH mandate.
Your lender might ask you to re-submit or revise the ECS form with the new date.
7. Pay processing fee (if applicable)
Some lenders charge a nominal processing fee for changing the EMI date.
Make the payment online or at the branch as per the lender’s instructions.
8. Confirmation and communication
Once approved, you will receive official communication (SMS or email) confirming the updated EMI due date.
Always retain a copy of this communication for your records.
9. Monitor the first updated EMI
Keep track of the first EMI after the change to ensure it is debited correctly.
Report any discrepancies to the lender immediately.
By following these steps, you can efficiently change your EMI due date and gain better control over your Loan Against Securities repayment schedule.
Key considerations before changing your EMI due date
Changing the EMI due date for your Loan Against Securities (LAS) can offer flexibility, but it's important to evaluate several factors before proceeding. Here are the key considerations to keep in mind:1. Lender’s policy and conditions
Not all lenders allow EMI due date changes, or they may allow it only once during the loan tenure.
Always check with your bank or financial institution about the availability and terms of this option.
Confirm whether the change is permitted for your specific loan product.
2. Processing charges
Some lenders may charge a nominal processing fee for altering the EMI date.
Factor this cost into your decision, especially if you're trying to ease financial pressure.
Clarify whether the fee is one-time or recurring.
3. Loan repayment history
A clean repayment record is often a prerequisite for getting approval to change the EMI due date.
Ensure that your loan account is up-to-date with no overdue or missed EMIs.
Lenders may reject your request if you have a history of defaults.
4. Impact on auto-debit or ecs mandate
If your EMI is set up through auto-debit or ECS, the mandate may need to be updated.
This can require additional paperwork or re-registration with your bank.
Failing to update this could lead to missed payments even after the EMI date change is approved.
5. Alignment with cash flow
Choose a new EMI date that coincides with your salary or regular income inflow.
This reduces the risk of insufficient funds in your account on the due date.
Consider your monthly budgeting and other fixed expenses as well.
6. Timeline for implementation
The change in EMI date may not take effect immediately—it could take a billing cycle or two.
Plan accordingly to avoid confusion or missed payments during the transition.
Always ask your lender about the effective date of the change.
7. Documentation and formalities
Be prepared to submit a written request along with supporting documents like income proof or updated bank details.
Some lenders may also require you to visit the branch for verification or signing revised agreements.
Being aware of these considerations ensures a smooth transition and helps you make an informed decision when opting to change your EMI due date for a Loan Against Securities.
Common issues while changing EMI due dates
While changing your EMI due date for a Loan Against Securities (LAS) can offer flexibility and ease of repayment, the process may sometimes come with a few challenges. Here are some common issues borrowers face during the EMI date change process:1. Limited eligibility
Many lenders allow the EMI due date to be changed only once during the entire loan tenure.
If you’ve already availed this option earlier, your request may be declined.
2. Pending dues or overdue payments
If you have any outstanding payments or missed EMIs, the lender may not permit a due date change.
It's essential to clear all dues beforehand.
You can check your Bajaj Finance outstanding payment to ensure your loan is in good standing.
3. Processing time and delays
The change may not reflect immediately—it can take up to one billing cycle.
Delays in updating mandates or ECS instructions may lead to auto-debit failures.
4. ECS/NACH mandate update issues
Failure to update your ECS or NACH details with the new EMI date may result in bounced payments.
This can lead to penalties or late fees from both your bank and lender.
5. Additional charges
Some lenders levy a processing fee for changing the EMI date, which may come as a surprise if not communicated clearly.
Always confirm any applicable charges in advance.
6. Lack of communication or confirmation
In a few cases, borrowers may not receive proper confirmation of the change, leading to confusion.
It’s vital to get written confirmation or email acknowledgment from the lender.
7. Incorrect execution
Mistakes in the request form, outdated contact details, or incomplete documentation can delay or nullify the request.
Double-check all information before submission.
To avoid issues, always track your my EMI status regularly and stay updated with your lender’s communication. Proper planning and awareness can make the EMI date change process smooth and hassle-free.
