How to Download an Auto Loan Statement?

Managing your finances effectively begins with having access to the right documents, and your auto loan statement is one of the most important tools for tracking your loan details. Whether you need it for tax purposes, financial planning, or simply to stay informed about your loan status, downloading your auto loan statement from Bajaj Finserv is a straightforward process. In this guide, we will walk you through the steps to download your auto loan statement, explain its key components, and address common questions to ensure a seamless experience.

What is an auto loan statement?

An auto loan statement is a comprehensive document that summarises the key details of your auto loan. It is issued by lenders like Bajaj Finserv to help borrowers track their loan repayment progress and manage their finances better.

This statement contains essential information about your loan, including the amount borrowed, the EMIs (Equated Monthly Instalments) you have paid, the outstanding balance, and other financial details. It acts as a financial record that can be used for various purposes, including tax filings and financial planning.

By reviewing your auto loan statement regularly, you can ensure that your payments are on track, monitor the remaining balance, and avoid any discrepancies in your loan account.

Your auto loan statement from Bajaj Finserv is designed to provide a clear and detailed overview of your loan account. Here is a breakdown of the key information included:

• Loan account number: A unique identifier for your auto loan.
• EMI details: Information about the EMIs you have paid and those that are pending.
• Outstanding loan balance: The remaining amount you need to repay.
• Principal and interest breakdown: A clear division of the principal amount and the interest charged.
• Payment history: A record of all payments made towards your loan.
• Additional fees or charges: Any applicable fees, such as late payment charges or processing fees.

Having access to this information makes it easier to monitor your financial obligations, plan your repayments, and ensure that there are no discrepancies in your loan account. 

Your auto loan statement is not just a financial record; it can also be a valuable tool for tax planning. Here is how you can use it for tax-related purposes:

1. Claiming tax deductions: If your auto loan qualifies for tax benefits, the statement can help you claim deductions on interest payments or principal repayments under specific provisions of the Income Tax Act.
2. Accurate tax filing: By downloading your statement periodically, you can ensure that you have accurate records for calculating your tax liabilities.
3. Proof of financial transactions: The statement serves as proof of your loan repayments, which is essential for tax audits or financial verifications.

Pro Tip: To avoid last-minute hassles during tax season, download your auto loan statement well in advance and keep it handy for reference.

How to download your auto loan statement

Downloading your auto loan statement from Bajaj Finserv is a simple process. Follow these steps to access your statement:

Log in to the Bajaj Finserv customer portal:

• Visit the official Bajaj Finserv website.
• Click on the ‘Customer Portal’ option and log in using your registered mobile number or email ID.
• Authenticate your login with the OTP sent to your registered mobile number.

Navigate to the loan account section:

• Once logged in, go to the ‘My Account’ or ‘Loan Details’ section.
• Select your auto loan account from the list of active loans.

Download the statement:

• Look for the ‘Download Statement’ or ‘Loan Statement’ option.
• Click on it and choose the desired period for which you need the statement.
• Save the PDF file to your device.

Note: If your loan is closed, you can still access the statement by selecting the ‘Closed Accounts’ option in the portal.