The Bajaj Finserv EMI Network Card or Insta EMI Card helps you to make big-ticket purchases and repay them in easy instalments. Every time you make a purchase using your EMI Network Card, a new loan account gets created. This loan account is called a consumer durable loan.
Just like any other loan, your consumer durable loan is also repaid in equated monthly instalments (EMI). These monthly instalments get deducted from your registered bank account on a pre-set date.
However, there are other methods to manage the repayment of your consumer durable loan. These payment options include – advance EMI, foreclosure, and overdue EMI payment. Please note that you don’t have the option to part-prepay your consumer durable loan.
Here’s the list of payment options you can explore:
Advance EMI payment
With the advance EMI option, you can pay up to five EMIs in advance at a time. You can use this payment service in case you have a fear of missing out on your EMI due date. This payment option can also be used if you’re facing any mandate-related issues.
Loan foreclosure
If you have surplus funds, you can close your loan early with the loan foreclosure option. However, you can foreclose your loan only after your first EMI is successfully paid. Please note that you can foreclose your consumer durable loan account without paying any additional charges.
Overdue EMI payment
In case you’ve missed any of your EMIs, you can use the overdue payment option to clear your instalments without any hassles. However, when you clear your overdue instalment, you may have to pay penal charges.
You can explore our online payment services by visiting the customer portal – My Account on our website or using our app.
If you are using our customer portal, follow these simple steps to repay your consumer durable loan EMIs.
- Visit our customer portal by clicking the ‘Pay Now’ button on this page.
- Enter your registered mobile number, and submit the OTP to sign-in.
- Verify your details with your date of birth and proceed.
- Choose the payment option from the list and select the loan account for which you want to make payments.
- Enter the amount and, if applicable, review the additional charges.
- Click on ‘Proceed’ to complete your payment using our secured payment gateway.
If you are using the Bajaj Finserv app, you can follow the steps given below and manage your loan repayment on the go.
- Click on the ‘Pay Now’ button on this page to open the payments section on your app.
- Select the payment options from the list and choose the loan account for which you want to make payments.
- Enter the required details, review the additional charges, and proceed with the payment.
