How to change loan against securities due date?

A Loan Against Securities (LAS) is a smart way to unlock the value of your investments without selling them. Whether it’s shares, mutual funds, bonds, or insurance policies, these assets can be pledged to secure funds for personal or business needs. However, one crucial aspect that borrowers must stay vigilant about is the Loan Against Securities due date. This due date marks the time by which interest or EMI payments need to be made to avoid penalties, credit score impact, or even liquidation of the pledged securities. Missing the due date can lead to the loan being marked as overdue, inviting additional charges and lender intervention. Understanding how the due date is calculated, when repayments are scheduled, and how to manage them proactively is essential to maintain financial discipline. In this guide, we’ll explore everything about LAS due dates and how to stay on top of your repayment schedule efficiently.

Reasons to change the loan against securities payment due date

The Loan Against Securities (LAS) facility offers flexible financial support without the need to liquidate investments. However, aligning the payment due date with your financial cycle is essential for effective money management. In certain situations, borrowers may find it necessary to request a change in the payment due date. Here are some common reasons why this change might be needed:

1. Cash flow misalignment

One of the most common reasons to modify the due date is to better align it with your income cycle. For example, salaried individuals might prefer their EMI due date soon after payday to ensure timely repayment without budget stress.

2. Irregular income patterns

Freelancers, self-employed individuals, and business owners often have fluctuating incomes. Adjusting the due date can provide more breathing room to manage repayments during lean income periods.

3. Multiple loan obligations

If you have multiple EMIs falling on the same date, it can strain your cash flow. Changing the LAS due date can help stagger payments, making it easier to manage finances.

4. Banking convenience

Some borrowers prefer due dates that coincide with specific banking arrangements, such as automatic salary credits, standing instructions, or preferred banking schedules.

5. Avoiding missed payments

If you’ve previously missed payments due to poor timing or oversight, rescheduling the due date can help maintain a clean repayment record and protect your credit score.

6. Financial planning goals

You might be restructuring your financial commitments, investing more, or saving aggressively. Changing the LAS due date can support these goals by ensuring liquidity at critical times.

Most lenders allow one-time or limited changes to your due date upon request, subject to eligibility. It’s always advisable to consult your lender and ensure the new date truly suits your financial routine.

Can you request to change the payment due date of your loan against securities?

Yes, most lenders allow borrowers to request a change in the payment due date of a Loan Against Securities (LAS), provided the request meets certain conditions. Changing your due date can be a practical option if your financial circumstances have changed or if aligning EMIs with your income cycle makes repayments more manageable.

Borrowers often face situations such as a job change, business income fluctuations, or multiple ongoing EMIs, making it difficult to manage repayments on the original schedule. In such cases, lenders may consider adjusting the due date to better suit your current cash flow and financial planning needs. However, this isn’t an automatic process and requires formal approval.

To initiate the request, you usually need to contact your lender through customer support or visit the nearest branch. Some institutions also offer the option through online banking or mobile apps. You'll be required to submit a written application or online request, specifying the reason for the change and suggesting a new due date.

Once the request is submitted, the lender will assess your repayment history, creditworthiness, and internal policies before approving the change. A fee may apply for processing the modification, and it might take a few working days for the new due date to come into effect.

It’s important to note that lenders typically limit the number of times you can change your due date, and such requests are usually entertained only after a certain number of EMIs have been paid on time. Also, some lenders might only allow shifting the due date within the same calendar month.

Before proceeding, consider the long-term impact of the new due date on your budget and cash flow. While changing the due date can provide short-term relief, it’s vital to ensure that the new schedule supports consistent and timely repayment, thereby safeguarding your credit score and preventing the risk of loan overdue status.

How to request a change in loan against securities payment due date?

If your current Loan Against Securities (LAS) payment schedule doesn’t align with your financial routine, you can request a change in the due date. Most lenders offer this facility subject to eligibility and internal policies. Here's a step-by-step guide in pointers on how to make this request:

1. Review your loan agreement

Check your original loan documents or digital loan account to verify whether due date changes are permitted.


Understand the conditions or restrictions, such as how many times the due date can be changed.

2. Assess your reason for the request

Ensure you have a valid reason, such as salary date mismatch, multiple EMI clashes, or business income cycles.


Be ready to explain how the new due date will help with smoother repayments.

3. Contact customer service

Reach out to your lender’s customer care via phone, email, or online chat.


You may also visit the nearest branch for a face-to-face discussion regarding the due date change.

4. Submit a formal request

Fill out the required form (physical or online) to initiate the due date change request.


Mention your existing EMI date, the preferred new date, and a brief justification.

5. Provide supporting documents (if required)

Some lenders may ask for supporting documents like income proofs, job change letter, or updated bank statements.


Upload or submit these documents as per the lender’s process.

6. Await lender’s approval

The lender will assess your repayment history, credit behaviour, and internal policy before approving the request.


If approved, you will receive confirmation through SMS, email, or a formal letter.

7. Pay applicable charges

A small processing fee may be applicable for rescheduling the due date.


Check with your lender if any GST or administrative charges are involved.

8. Monitor the update

Log in to your loan account or app to verify that the due date has been updated correctly.


Make sure your auto-debit instructions or ECS mandates reflect the new due date.

9. Maintain discipline

Once the new due date is set, plan your monthly finances to ensure on-time EMI payments and avoid late charges or a loan overdue status.


This proactive step can help manage repayments better and ensure smoother financial planning.

Conditions for changing the loan against securities payment due date?

Changing the payment due date of a Loan Against Securities (LAS) can help borrowers align their repayment with income cycles or better manage cash flow. However, this flexibility is subject to certain terms and conditions set by the lender. Below are the key conditions you must meet to request a due date change:

1. Good repayment history

Borrowers must have a clean repayment record, with no recent missed or overdue EMIs.


Lenders typically consider only those with consistent payment discipline.

2. Minimum EMI payments completed

Many financial institutions require that a borrower must have paid at least 3 to 6 EMIs before requesting a due date change.

3. One-time or limited change

Lenders may allow due date changes only once during the loan tenure or after a specific time gap.

4. Due date within the same month

Some lenders permit changes only within the same calendar month, such as shifting from the 5th to the 10th, not to another month.

5. Written request is mandatory

A formal request must be submitted either online, through customer support, or at a branch, clearly stating the reason for the change.

6. Subject to lender approval

The final decision lies with the lender, based on internal guidelines and borrower eligibility.

7. No ongoing overdues

Borrowers with an active loan overdue status may not be eligible until all dues are cleared.

8. Payment of processing fee

Some lenders charge a nominal administrative or processing fee for executing the due date change.

9. No Impact on loan tenure

The change in due date typically does not alter the overall loan tenure or interest rate.


Meeting these conditions can improve the chances of getting your LAS due date successfully modified.

What to expect after requesting a change in due date?

Once you’ve submitted a request to change the Loan Against Securities (LAS) payment due date, it’s essential to know what happens next. Understanding the process can help you manage your finances efficiently and avoid confusion. Here’s what you can expect after making the request:

1. Acknowledgment of your request

The lender will send a confirmation via SMS or email acknowledging that your request has been received.

2. Document verification

If any documents were submitted (like income proof or application form), they will be verified before the process moves forward.

3. Assessment of eligibility

The lender will review your repayment history, creditworthiness, and current account status before approving the request.

4. Possible processing fee

A nominal fee may be charged for rescheduling the EMI due date. You will be informed about this in advance.

5. Approval or rejection notification

After evaluation, the lender will inform you whether the due date change has been approved or rejected. This usually takes a few working days.

6. Update in loan account

If approved, your new EMI due date will be reflected in your loan account details and updated in auto-debit instructions or ECS mandates.

7. Check your EMI schedule

Log in to your account and check my EMI status to ensure the changes are reflected accurately.

8. Stay aware of payment dates

Until the change is officially updated, continue to follow your existing EMI schedule to avoid penalties.

9. Monitor outstanding balance

It’s advisable to review your Bajaj Finance outstanding payment details post-change to avoid confusion.

Staying informed helps ensure you maintain a smooth repayment experience after modifying your LAS due date.

Conclusion

In conclusion, modifying the payment due date of your Loan Against Securities can offer better financial flexibility, especially when aligned with your income flow or financial commitments. While the process is fairly straightforward, it requires meeting specific eligibility criteria, submitting necessary documentation, and receiving approval from the lender. Once approved, it’s crucial to monitor your updated EMI schedule and ensure timely payments to maintain a healthy credit profile. Whether you’re managing your monthly budget or aiming to avoid missed payments, a due date change can be a helpful tool in your loan management strategy. Always stay proactive and informed for smoother loan servicing.