When you opt for our personal loan, it’s mandatory for you to register a bank account as a part of the application process. This registered bank account is used for loan disbursal and repayment. The EMIs get deducted automatically from this bank account on a pre-defined date. This process is called NACH (National Automated Clearing House) mandate.
While you’re repaying your personal loan, there are possibilities that your registered bank account undergoes any change. It’s important to keep your bank account details updated so that you don’t miss out on EMI payments. Failing to pay your loan EMIs on time, may result in additional penal charges and cause a negative impact on your CIBIL Score.
In case your bank account details undergo any change during the repayment tenure, you must update it in our records. You can use online Bajaj Finserv services and update your bank account details from the comfort of your home. Visit our customer portal on the web or use our app and update bank details for your personal loan on the go.
Follow these simple steps to change bank account details for your ongoing personal loan if using our customer portal.
- Click on the ‘Update Now’ button on this page to visit our customer portal.
- Enter your registered mobile number and the OTP to sign-in.
- Verify your details by entering your date of birth and proceed.
- Choose your personal loan account and proceed to update your bank account details.
- Enter the accountholder’s name, bank name and IFSC.
- Select the process of registration and proceed.
If you’re using the digital services on our app, follow these simple steps to change bank account details for your ongoing personal loan.
- Click on the ‘Update Now’ button on this page to go to the ‘Mandate Management’ section of the app.
- Select your personal loan account and proceed to update your registered bank account.
- Enter the details such as the accountholder’s name, bank name and more.
- Choose the registration process and proceed.
While you’re looking to update your mandate, it’s advisable to update your bank details immediately after your loan EMI gets deducted. This will ensure your new bank account will be used from next month onwards and you won’t miss out on any of your loan EMIs.
