How to Pay Your Car Loan Through Digital Payment Modes

You can pay your car loan EMI through digital methods such as UPI, debit card and net banking, or use an authorised NACH mandate for automatic deductions. Check the payment options available for your loan and verify each transaction to keep your repayment records accurate.

• Use UPI, debit card or net banking for eligible online EMI payments, or register a NACH mandate for automatic bank deductions.
• Access your loan through the My Account portal or Bajaj Finance app, select your car loan and choose an available payment option.
• Keep sufficient funds in your registered bank account before the scheduled auto-debit date and check your bank statement after the deduction.
• If a payment fails or remains pending, verify whether your bank account was debited before attempting another transaction.
• Save your payment receipt and transaction reference, and check your loan account to confirm that Bajaj Finance has recorded the payment.

Use authorised payment channels, protect your banking credentials, and contact Bajaj Finance if a transaction remains unresolved or your loan account does not reflect the payment.

Digital payment modes let you pay your car loan EMI online without visiting a payment centre. You can choose UPI, debit card, or net banking for an eligible one-time payment. If you have an active NACH mandate, your bank account can also be debited automatically on the scheduled EMI date. These options help you manage repayments through the channels available to you. You can review the amount before authorising the transaction through your banking service. Digital transactions provide a confirmation or reference number that you can retain for your records. This can help you check whether the payment has gone through and raise a query if your loan account does not reflect it. Before paying, verify the loan details, amount due, and payment status. Choose a supported mode that suits your needs and keep sufficient funds available before the due date.

Which digital payment modes can you use for car loan EMI?

You can use UPI, debit card, or net banking for eligible online car loan EMI payments. You can also pay scheduled instalments through an authorised NACH mandate linked to your bank account.

The available payment options may vary by loan account and payment channel. Check the options displayed for your car loan before making a payment.

How can you pay your car loan EMI through Bajaj Finance platforms?

You can pay your car loan EMI online through the My Account portal or the Bajaj Finance app. Keep your registered mobile number handy to sign in and access your loan account. Before confirming the payment, check the instalment amount, due date, and any applicable overdue amount or charges.

Follow these steps: 

1. Open the My Account portal or the Bajaj Finance app.
2. Sign in using your registered mobile number and the OTP. Complete any additional verification if prompted.
3. Go to Relations or My Relations and select View All, if displayed.
4. Select your car loan account to view its details.
5. Choose Make Payment or Pay EMI under the available payment options.
6. Select the EMI or overdue payment option, as applicable, and check the amount due.
7. Choose an available payment method, such as UPI, debit card, or net banking.
8. Review the payment details and authorise the transaction.
9. Save the payment confirmation and check your loan account to verify the transaction status.

Paying your EMI online helps you manage your monthly repayment and track completed transactions. If the payment does not appear in your loan account, check its status before making another payment.

Automatic bank debit uses an authorised mandate to deduct your scheduled EMI from your registered bank account. You provide the required authorisation to allow the lender to collect instalments according to the agreed repayment schedule. This arrangement reduces the need to initiate each monthly payment manually. 

Please check the following points first:

• Keep sufficient funds in your registered bank account before the scheduled debit.
• Check your EMI amount and repayment date in your loan records.
• Review your bank statement to confirm the debit.
• Contact customer support if a scheduled debit does not appear or the amount differs from your repayment records.

An automatic debit mandate does not remove your responsibility to ensure that the EMI reaches your loan account.

What should you check before making a digital car loan payment?

Review your loan details and payment information before authorising a transaction. These checks can help you avoid incorrect payments and identify issues with a transaction.

• Loan account details: Confirm that you have selected the correct car loan account.
• Amount payable: Check the EMI or overdue amount displayed for payment.
• Due date: Review the scheduled repayment date to plan your payment.
• Payment details: Verify the amount, bank or UPI details and other information shown at checkout.
• Transaction limits: Check whether your bank or payment method allows the amount you need to pay.
• Payment confirmation: Save the transaction reference or receipt after completing the payment.

Use the official payment channel and do not share your OTP, UPI PIN, card PIN, or banking password with anyone.

What should you do if your digital car loan payment fails?

A failed or pending transaction does not always mean the payment amount has been lost. First, check your bank account and payment confirmation to understand whether the amount was debited.

Follow these steps based on the transaction status:

1. If the payment failed and no amount was debited: Check the payment details and try again through an available authorised method.
2. If the amount was debited but the loan account is not updated: Keep your bank statement and transaction reference ready. Raise a service request through an authorised customer support channel.
3. If the transaction remains pending: Check its status before attempting another payment to avoid a duplicate debit.
4. If an automatic debit failed: Review your bank balance and contact customer support to understand the outstanding amount and available payment options.

Continue checking your loan account until the payment status is clear. Keep the relevant transaction records in case you need to follow up.