Check your Bajaj Finserv personal loan outstanding amount now

What is outstanding amount in personal loan?

The outstanding amount in a personal loan refers to the total sum of money that you still owe to the lender, including the principal amount borrowed and any accrued interest up to the present date. This figure can include not only the unpaid principal but also any overdue payments, late fees, and additional charges that may have been applied to your loan account. The outstanding amount is dynamic, meaning it changes over time as you make regular EMI payments or incur further charges due to late payments. Keeping track of your outstanding amount is crucial to managing your loan effectively, as it helps you plan your repayments and avoid any potential penalties related to overdue or missed payments. If you're looking to clear your outstanding payment promptly, knowing the exact amount due is essential.

How do I find out my outstanding amount at Bajaj Finserv?

1. Log in to the customer portal: Start by logging into the customer portal using your credentials.

1. Navigate to the loan section: Once logged in, go to the 'Your account' where und “Your relationships” you will be able to see all your active loans. In this section your personal loan information will be listed.

1. Select the specific loan account: Click on the personal loan account for which you want to check the outstanding amount.

1. View the outstanding amount: The dashboard will display the current outstanding amount, including the principal and any interest accrued.

1. Check the payment schedule: You can also view the payment schedule to see how your EMIs are being applied to the outstanding balance.

1. Download the statement: If needed, download your loan statement for a detailed breakdown of payments, including any overdue outstanding payment.

1. Contact customer service: If you need further assistance, you can contact customer service via the portal or the Bajaj Finserv app.

What is an average outstanding amount?

The average outstanding amount refers to the typical or mean sum that borrowers still owe on their personal loans at any given time during the loan tenure. This amount varies depending on factors such as the original loan amount, the interest rate, the number of EMIs paid, and any additional charges like late fees. For instance, if you have been consistent with your payments and are halfway through your loan tenure, your outstanding amount will likely be closer to half of the initial loan amount, adjusted for interest. Understanding your average outstanding amount can help you gauge your progress in repaying the loan and planning for any early repayment or foreclosure strategies.

What is the difference between outstanding amount and remaining balance?

Outstanding Amount	Remaining Balance
The outstanding amount includes the total sum owed, comprising the principal, interest, and any additional charges like late fees or penalties.	The remaining balance typically refers to the unpaid principal portion of the loan, excluding interest or other charges.
It fluctuates over time as you make payments or incur further charges.	It decreases progressively as you make regular EMI payments.
The outstanding amount gives a full picture of your current financial obligation.	The remaining balance focuses solely on the unpaid principal of the loan.

For more details on managing your loan payments, you can visit the customer portal.