Steps to register e-mandate for personal loan

Read this article to know how you can register an e-mandate for your personal loan
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Steps to register e-mandate for personal loan
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3 min
02-January-2025

In today's fast-paced world, managing finances efficiently is crucial, and when it comes to personal loans, ensuring timely EMI payments is essential to avoid penalties and maintain a good credit score. One of the most effective ways to streamline your loan repayment process is by registering for an E-mandate. An E-mandate is an electronic instruction that allows your lender to automatically deduct your Equated Monthly Installments (EMIs) directly from your bank account on the due date. This digital facility eliminates the need for manual payments, making the process seamless and hassle-free.

What is the personal loan e-mandate registration process at Bajaj Finance?

Registering for an E-mandate for your personal loan at Bajaj Finance is a straightforward and efficient process. E-mandate allows automatic EMI deductions from your bank account, ensuring timely payments and avoiding any late fees. Here’s how you can register:

  1. Log in to Service: Begin by logging in to your Bajaj Finance account using your registered mobile number. This can be done through the official website or the Bajaj Finserv mobile app.
  1. Navigate to the e-mandate section: Once logged in, click on “Your relations” and select the loan for which you want to register your e-mandate.
  1. Initiate registration: Click on “Register now” to initiate registration
  1. Provide bank details: Enter your bank account details that you wish to link for the E-mandate. Ensure that the account has sufficient funds to cover your EMIs.
  1. Verify information: Review the entered details and verify that they are correct.
  1. Authorise the e-mandate: Complete the registration by authorising the E-mandate through OTP (One-Time Password) sent to your registered mobile number. Alternatively, some banks may require you to verify through net banking.

Once completed, your EMI payments will be automatically debited from your bank account on the due date. For more details or assistance, you can always reach out to the Bajaj Finance personal loan customer care number.

Benefits of personal loan e-mandate registration with Bajaj Finserv

Registering for an e-mandate with Bajaj Finserv for your personal loan offers several benefits that enhance your loan repayment experience. Firstly, it ensures timely payments, as the EMI amount is automatically debited from your bank account on the due date, helping you avoid late fees and penalties.

Additionally, the e-mandate process is hassle-free and eliminates the need for manual payments each month. This not only saves time but also reduces the risk of missed payments. Another significant benefit is the flexibility it offers; you can link any bank account of your choice, giving you control over your finances.

Lastly, the e-mandate registration process is secure, with multi-factor authentication ensuring that your bank details are safely linked to your loan account. Overall, it simplifies loan management and provides peace of mind. You can also explore the option of part payment personal loan or learn more about loan foreclosure to close your loan early.



Frequently asked questions

How long does the e-mandate registration process take?
The e-mandate registration process is designed to be quick and efficient. Typically, it takes only a few minutes to complete the entire process online. Once you log in to your Bajaj Finance account and enter your bank details, the verification and authorisation process, which involves OTP authentication, is completed almost instantly. After successful verification, your e-mandate is activated, and EMI deductions will commence from the next due date. In rare cases where additional verification is required by the bank, it may take a day or two, but generally, the process is completed swiftly.

How can I cancel or modify my e-mandate?
If you need to cancel or modify your e-mandate, the process is straightforward. You can do this by logging into your Bajaj Finance account and navigating to the 'Mandate Registration' section. Here, you will find options to either cancel the existing e-mandate or update it with new bank details. It's important to ensure that any modifications are made well before your next EMI due date to avoid any payment issues. Once you’ve made the changes, they will be reflected immediately, and you will receive a confirmation of the update.

What should I do if my e-mandate fails or is rejected?
If your e-mandate fails or is rejected, it is crucial to address the issue promptly to avoid any missed EMI payments. First, check the bank details you provided to ensure they are correct and that your account has sufficient funds. If everything seems in order, the issue might be with the bank's verification process. In such cases, contacting your bank directly or reaching out to Bajaj Finance personal loan customer care is advisable. They can guide you through resolving the issue and reinitiating the e-mandate registration process.

What documents are required for e-mandate registration?
The e-mandate registration process with Bajaj Finance is simple and doesn’t require extensive documentation. Generally, you will need to provide your bank account details and may be asked for a copy of your bank passbook or a cancelled cheque to verify the account. Additionally, ensure that your mobile number linked to your bank account is active, as you will receive an OTP for verification during the registration process. For a detailed step-by-step guide, you can refer to the e-mandate process page.

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 Bajaj Finserv App for All Your Financial Needs and Goals

Trusted by 50 million+ customers in India, Bajaj Finserv App is a one-stop solution for all your financial needs and goals.

You can use the Bajaj Finserv App to:

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