Manage your loans

When you take a loan, you get access to an amount of money that you must repay over a period of time. Usually, you pay back a fixed amount each month called an equated monthly instalment (EMI).

But there’s more to managing your loan than just paying your EMIs on time. You should be aware of all your loan details – the repaid amount, the amount you still owe, your loan statement, your repayment schedule, and more.

Bajaj Finserv offers several unique unsecured and secured loan solutions to help you manage your personal and business expenses. And through our customer portal, you can find a host of self-service options that you can use to manage your loan with ease.

These include multiple repayment options, quick access to your documents, and greater control of your account information.

You can do all of this without having to visit a branch.

Sign-in with your basic details and get access to all our loan-related services:

• 

  Loan details

  Track all important information related to your loans, such as your EMIs, payment status, dates, and more.
  

• 

  Account statements and documents

  Keep an eye on every transaction made on your loan account, from EMIs paid to fees and charges deducted and more.
  

• 

  EMI repayment

  Pay back a part of your borrowed amount or foreclose your loan with ease.
  

• 

  Withdraw funds

  Withdraw money from your Flexi Loan account in just a few clicks and have the money deposited into your bank account.
  

• 

  Bank account update

  Manage your repayment and withdrawal bank account details easily.

Every loan you take from Bajaj Finserv is assigned a unique number called the loan account number (LAN). Your LAN serves as an identifier and helps you keep track of your loan details. This includes its status (active or closed), the count of EMIs repaid, and the outstanding amount.

• 

  View your loan details

  You can check your loan details in your account by following these simple steps:
  

  • Click on the ‘Sign-in’ button on this page to visit our service portal.
    
  • Enter your mobile number and the OTP to sign-in.
    
  • Verify your details with your date of birth and proceed.
  • Go to “Service”
  • Click on “Relations”
  • Select your “loan account number”
  • Find details such as EMI amount, next due date, and more.

  You can find all your loan details by clicking on the ‘Check your loan details’ option below. You’ll be asked to sign-in to the ‘Service’ portal. Once signed-in, you’ll be redirected to the ‘Relations’ section, where you can select your loan account to view its details.
  

  Check your loan details

Your loan statement is the most important document related to your ongoing loan. It’s a record of every transaction that has been carried out on your loan account – from the disbursal date to the loan closure date.

Your loan statement also contains information, such as your next EMI due date, the principal outstanding, and more.

Check your account statement regularly and stay informed about the instalments and other deductions on your account.

• 

  Download your account statement

  You can download your account statement by visiting the service portal

  • Click on the ‘Sign-in’ button on this page to go to our service portal
    
  • Enter your mobile number and the OTP to sign-in
    
  • Verify your details with your date of birth and proceed
  • Go to ‘Menu’
  • Click on ‘Bank details/ Documents’
  • Tap on ‘Document Centre’
  • Select the loan account number for which you want to download statement
  • Click on ‘Statement of Account’ to download it

  You can also find your loan statements and other documents by clicking on the ‘View your loan statement’ text below. You’ll be asked to sign-in to the ‘Service portal’ and redirected to the ‘Document Centre’ section from where you can download your account statement.
  

  View your loan statement

Once your loan is transferred to you, your monthly instalments are auto-deducted from your bank account on a pre-set date. This date is usually the second day of the following month.

Your NACH (National Automated Clearing House) mandate enables auto-payments directly from your bank account. You don’t need to initiate any other payments once your loan has been booked.

However, if you would like to make any additional payments, you can do so easily in the service portal.

Advance EMIs, part-prepayments, and overdue EMIs

If you wish to pay your upcoming EMI before its due date, you can use the advance EMI facility. A single advance EMI automatically adjusts your instalment amount for the next month. This means that your upcoming instalment won’t be debited from your bank account on your next EMI due date.

If you have surplus funds, you can pay back a part of your outstanding loan amount using the part-prepayment facility. This in turn impacts your loan tenure or EMIs and helps you save on the interest you end up paying against your loan.

In fact, you can also clear your overdue EMIs easily. If you miss your EMI payment because of a low account balance, or a technical error, you can pay the bounced EMI through this facility.

• 

  Make your loan payments

  You can manage your loan repayment by visiting our service portal

  • Sign-in with your mobile number and the OTP
    
  • Verify your details with your date of birth and proceed
  • Go to ‘Service’ and click on ‘Relations’.
  • Select your loan account number.
  • Click on ‘Make loan payments’.
  • Select the payment type and click on ‘Continue’.
  • Enter the amount and review the applicable charges.
  • Select your preferred payment mode and click on ‘Pay now’.

  You can also manage your loan EMIs by clicking on the ‘Pay your loan EMIs’ text below. You’ll be asked to sign-in to the service portal. You can then select the payment, choose your loan account and proceed to pay.

  Pay your loan EMIs

We offer Term and Flexi variants across our unsecured loan products. The Flexi Loan variant gives you the freedom to plan your repayment based on your financial situation.

If you’ve opted for our Flexi Loan variant, you get additional benefits. You can withdraw funds from your available limit as many times as you want and prepay whenever you like.

• 

  Withdraw funds from your Flexi account

  You can withdraw funds from your Flexi Loan account by visiting our service portal

  • Click on the ‘Sign-in’ button on this page to visit ‘Service’ portal.
    
  • Enter your mobile number and the OTP to sign-in
    
  • Verify your details with your date of birth and proceed
  • Go to ‘Service’ and click on ‘Relations’.
  • Select your EMI card number.
  • Click on the ‘Withdraw’ option.
  • Enter the amount you need to withdraw from your available limit and review your bank account information.
  • Verify your details with an OTP sent to your registered mobile number

  You can also withdraw funds from your available limit by clicking on the ‘Withdraw funds from your Flexi Loan’ text below. You’ll be asked to sign-in to the Service portal and redirected to the ‘Your relations’ section.

  You can then select your loan account, click on ‘Withdrawal’ from the ‘Quick Actions’ section and proceed with the withdrawal.
  

  Once your withdrawal request has been processed, you’ll receive the money in your registered bank account in a few hours.
  

  Withdraw funds from your Flexi Loan
  

When you take a loan from us, you have to register an active bank account into which the loan is disbursed. This is the account that your EMIs will be deducted from.

If your bank account undergoes a change, it’s important that you update it on our records. You must do this to prevent the possibility of EMI bounce, unnecessary charges, and a negative impact on your CIBIL Score.

You can manage your bank account details by signing-in to our service portal

If you’ve opted for our Flexi Loan variant, you have the option to manage two kinds of bank accounts. This includes the EMI repayment account and the withdrawal bank account.

The repayment account is the account from which your EMIs are deducted every month. Your withdrawal bank account is the account in which you receive funds when you withdraw money from your Flexi Loan.

• 

  Change repayment bank account details

  You can update your repayment bank account details in the ‘Service’ portal by following these simple steps:
  

  • Sign-in to our service portal with your mobile number and the OTP
    
  • Enter your date of birth for verification and proceed
  • Go to ‘Service’ and click on ‘Relations’.
  • Select the loan account for which you want to update your bank details.
  • Click on ‘Change bank account’.
  • Enter details such as the accountholder’s name, new bank account number, and IFSC.
  • Choose your registration mode and proceed.

  You can also change your repayment bank account details by clicking on the ‘Manage your repayment account’ text below. You’ll be asked to sign-in to the ‘Service portal’. Once signed-in, you’ll be redirected to our ‘Mandate Management’ section.
  

  You can then select your loan account and proceed by entering the other required details.
  

  Manage your repayment account

  You will receive a confirmation message on your screen once your bank account details are successfully registered.

  In case you’ve updated any of your profile details recently, you’ll have to wait for 90 days before you can update your repayment bank account details.
  

  Also, any change in your repayment bank account doesn’t change your withdrawal bank account details.
  

• 

  Change drawdown bank account details

  You can change your withdrawal bank account by visiting our service portal.

  • Sign-in to the ‘Service portal’ with your mobile number and the OTP
    
  • Verify your details using your date of birth and proceed
  • Go to ‘Service’ and click on ‘Relations’.
  • Click on ‘View loan details’.
  • Click on ‘Change bank account’.
  • Enter the OTP and proceed.
  • Fill in new account details and verify your Aadhaar via DigiLocker

  Alternatively, you can update your withdrawal bank account by clicking on the ‘Manage your withdrawal account’ text below. You’ll be asked to sign-in to the service portal and you will be redirected to the ‘Relations’ section.

  Select your Flexi Loan account and click on the ‘Withdrawal Bank Change’ option from ‘Quick Actions’. You can then click on ‘Update Bank Account’ below your withdrawal bank account details and proceed.

  Please note that any change in your repayment bank account doesn’t change your drawdown bank account details.

  Manage your withdrawal account

There are various fees and charges applicable to the loan you have chosen. These are very clearly mentioned on our website, app, and the loan agreement that you’re provided.

Check the fees and charges applicable to our products

• 

  Part-prepayment charges

  When you make a part-payment against your Term Loan, you may be asked to pay a nominal fee. This is called a part-prepayment charge.
  If you have chosen our Flexi variant, you don’t need to pay a fee to make a part-prepayment. You can do this as many times as you like, without incurring any additional charges.
  

• 

  Bounce charges

  If your bank account doesn’t have enough money to pay the EMI on the due date, your instalment will bounce. In such a scenario, you’ll have to bear a bounce fee, in addition to charges levied by the bank in your account. A bounced EMI has the potential to disrupt your repayment history and adversely impact your CIBIL Score.
  

• 

  Foreclosure charges

  If you have surplus funds at your disposal, you can pay off the entire outstanding loan amount in one go. You can do this at any point in your loan tenure after the clearance of your first EMI. You’ll have to pay additional charges for this, which are known as foreclosure charges.