Bajaj Finserv EMI Payment Status
EMI or equated monthly instalment is a planned and systematic repayment option that enables you to repay your debts in monthly instalments. An EMI always comprises both the principal amount and interest charged.
Missing out on EMI payments can have significant implications, including lowering the CIBIL score, tarnishing the repayment history, paying penalties, and others. Hence, access to a streamlined debt management system can be of great help.
In this regard, you can log into the Experia portal to know about your instalments, their status, download Bajaj EMI statements, etc.
You can learn more about the process of checking Bajaj Finserv EMI payment status in the following sections.
How to check Bajaj Finserv EMI payment status?
Here are the ways you can use to check Bajaj Finserv EMI payment status –
- Using the Experia customer portal
Step 1: Visit the Bajaj Finserv customer portal, i.e., Experia
Step 2: Provide your customer ID, email ID, or registered phone number
Step 3: Enter the OTP to verify
Step 4: After logging in, select ‘Services’
Step 5: Click on ‘View Details’
Step 6: Select ‘E-statement’ to see the last EMI status and other loan information. You can download this statement if required
- Using the Experia mobile app
You can also use the Experia mobile application for the same. Here are the steps –
Step 1: Download the Experia mobile application
Step 2: Complete the login procedure with the customer ID, registered mobile number and other required details
Step 3: Go to the consumer durables section after logging in and select the loan you want to check EMIs
Step 4: Go to ‘View Details’ and choose ‘E-statement.’
Step 5: After that, you can see Bajaj Finserv EMI details, payment status, repayment history, and other account details
Moving ahead, a common confusion to clear off is that checking loan EMI status and EMI card status is different. To check your EMI Network Card status, you can use the Experia Bajaj Finserv Wallet app.
Benefits of Bajaj Finserv EMI Payments
Alongside knowing the ways of checking Bajaj Finserv EMI details, you should also understand the benefits of y paying EMIs regularly.
1. Improving the CIBIL score
CIBIL score or credit score is a three-digit number that summarises your creditworthiness as a debtor. One of the easiest ways to maintain and improve this score is regular EMI payments. Credit rating agencies assign this score depending on your behaviour as a borrower. Hence, in case of any irregularities, your credit score may go down as a result.
Hence, ensuring regular EMI payments improves your CIBIL score and better your chances of securing a loan in future with favourable terms and conditions.
2. Improved debt management
The monthly instalments are designed to lower the financial burden of a borrower. They are set up in a way that will not exceed your financial means and put you in a tough spot. Moreover, lenders also provide a loan amortisation schedule that offers a detailed breakup of EMIs.
You can then select a loan tenor as per your financial capabilities, resulting in efficient debt management.
3. Curate a strong relationship with your lender
Financial institutions always prefer responsible borrowers as they lower the lending risk. Therefore, paying EMIs on time and without disruption projects you as a responsible individual and helps you maintain a good relationship with your lender.
Resultantly, you can then avail of better loan offers, attractive interest rates and helps you to boost your credit eligibility.
How to pay Bajaj Finserv EMIs online?
Now that you are aware of the process of checking Bajaj Finserv EMI payment status and the advantages of paying it on time, follow the steps mentioned below to make a Bajaj Finserv online payment against your EMIs –
- Using the Experia portal
You can pay your EMIs through the Experia portal; here are the steps –
Step 1: Visit the Experia customer portal and log in using the required credentials
Step 2: Use an OTP to authenticate
Step 3: Select ‘Quick Pay’
Step 4: Click on ‘Online Payment’
Step 5: Go to ‘EMI and Overdue Payments’
Step 6: Choose the loan account number and payment method
Step 7: Complete the transaction and pay your Bajaj Finserv EMI
- Using the Experia mobile application
Step 1: Download and login to the mobile app and verify with an OTP
Step 2: Choose the operator and provide a loan account number
Step 3: Click on the loan account and choose ‘Pay Now’
Step 4: Select from either ‘overdue payment’ or ‘Advance Payment’
Step 5: Choose the month and the EMI you want to pay
Step 6: Select a mode of transaction and complete it
Thus, knowing the Bajaj Finserv EMI payment status helps you keep track of your repayments and build your reputation as a borrower.
Frequently asked questions
The Bajaj Finserv EMI payment date is on or before the 23rd of every month. However, any payment made after this date will not impact the next instalments.
Yes, you can pay your Bajaj Finserv EMIs even after the due date. In that case, you need to pay the penalty.
If you delay your EMI payment by a month, you will be liable to pay a penalty of Rs. 1000 with your next instalment.
You can log in to the mobile application, select the payment mode, i.e., overdue or advance, and select the month and amount. After that, you need to confirm your payment method and complete the transaction.