Frequently asked questions

What is an MPIN, and why do I need to set it?

An M-PIN is a Mobile Banking Personal Identification Number. It secures your app, makes your logins convenient and authenticates transactions through it. It is a 4-digit passcode that you can create during your first registration. It will be used to authenticate your logins in the future and will reduce the possibility of any fraud on your account.

What is nomination fraud?

Nomination fraud occurs when someone falsely claims to be the nominee of an account holder or coerces the account holder into changing their details to gain access to the account holder's funds.

How can I protect myself from nomination fraud?

Ensure your nominee details are accurate and up-to-date. Regularly review your nominations and be cautious of any pressure to change your nominee.

What should I do if I suspect fraudulent activities on my Bajaj Finserv Health EMI Network Card?

In case you suspect any fraudulent activity on your Bajaj Finserv Health EMI Network Card or transaction you haven't done, you can self-block the card by following these steps:

  1. Go to #*{My_Relations}#, scroll to the 'Cards' section, and select the EMI Card you want to block
  2. Click on 'Block Card'
  3. Select 'Fraud attempt on the card' as the reason for blocking your card and click on 'Proceed'
  4. Enter the OTP sent to your registered mobile number and click on 'Submit'

You can also #*{click_here}*# to raise a request.

Note: In case you are blocking the card from Bajaj Finserv App, then you do not need to enter the OTP.

What should I do if I suspect fraudulent activities on my Bajaj Finserv Insta EMI Card?

In case you suspect any fraudulent activity on your Bajaj Finserv Insta EMI Card, you can self-block it by following the steps below:

1. Go to #*{My_Relations}*#, scroll to the 'Cards' section, and select the EMI Card you want to block
2. Click on 'Block Card'
3. Select 'Fraud attempt on the card' as the reason for blocking your card and click on 'Proceed'
4. Enter the OTP sent to your registered mobile number and click on 'Submit'

You can also #*{click_here}*# to raise a request.

Note: In case you are blocking the card from Bajaj Finserv App, then you do not need to enter the OTP.

Why do I need to update my personal details?

You can get all essential communication from us by updating your personal details. This also helps us prevent fraudulent activities from occurring in your account. We can provide immediate assistance in case you face any account-related issues.

Keeping your profile updated is also important for maintaining accordance with 'The Prevention of Money Laundering Act, 2002'. It also helps us to ensure that no one can access your account without your permission and adds an extra layer of security to your personal account.

Why must I validate my identity through PAN/EMI/Bank account and OTP, MPIN or biometric while accessing the profile update option?

We ask you to validate your identity to ensure:

  • Personal details changes are initiated only by you
  • No fraudulent activities take place on your account
  • No one accesses your account without your permission
Why is my mobile number being verified for linking my bank account?

Your mobile number is verified as a security measure to prevent fraud and ensure the authenticity of the linking process.

Why is my mobile number being verified for linking my bank account?

Your mobile number is verified as a security measure to prevent fraud and ensure the authenticity of the linking process.

What should I do if I have misplaced my phone and I am worried that someone might misuse my UPI-related credentials?

Your UPI PIN is required to authorise UPI transactions. Without knowing your UPI PIN, no one can make transactions.

Important: Do not share or disclose your UPI PIN to anyone to minimise the risk of fraud and unauthorised transactions.

Can I make transactions without accepting Two Factor Authentication?

No, Two-Factor Authentication is required to ensure the safety and security of your Bajaj Pay wallet transactions. This helps prevent any loss that may occur due to unauthorised, suspicious, or fraudulent activity.

Please note that Two-Factor Authentication is mandatory as per RBI's Master Direction on Prepaid Payment Instruments.

What are benefits of DigiLocker?

DigiLocker is a platform authorised by the government that provides a secure and convenient way to store and manage documents for KYC purposes. It uses two-factor authentication to prevent frauds. The process is easy, quick, and intuitive, and can be completed digitally without the need for any physical paperwork.

What is KFS?

The Key Fact Statement (KFS) provides details of the key information about your loan. It is prepared in compliance with the guidelines laid down by the Reserve Bank of India (RBI).

The KFS is a standardised document across lenders, based on templates from the Reserve Bank of India (RBI). The RBI’s guidelines on digital lending, for instance, need the KFS to specify details like the loan amount, tenure, rate of interest, repayments due, other fees and penalties a customer might incur, details about third parties involved in the contract, details of the grievance redress officer, the cooling-off period etc.

What is the purpose of KFS and how will it benefit me?

The KFS is displayed before execution of loan agreement and provides you with the details of the key information about your loan. Its purpose is to ensure transparency between you and Bajaj Finance Limited (BFL).

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