Foreclosing your loan means repaying the entire outstanding amount in one go and closing your loan account before the end of the tenure. This can help you save on interest charges and improve your credit score.
If you have the additional funds available, you may consider foreclosing your medical equipment loan from Bajaj Finance to save on interest payments and reduce the overall cost. Before proceeding, it is important to carefully evaluate the terms and conditions as well as any applicable charges for loan foreclosure. Here is a step-by-step guide to help you effortlessly foreclose your medical equipment loan via our online portal:
1. Sign in to My Account:
Access the Bajaj Finance customer portal using your date of birth, mobile number, and OTP (one-time password) for authentication to begin the user-friendly process. If you are accessing it via our app, log in and navigate it to the account section.
2. Select the loan account:
Choose the specific medical equipment loan account that you wish to foreclose from the options available in your account.
3. Choose the foreclosure option:
Look for the 'foreclosure' option among the various payment options presented to you.
4. Enter the required details:
Provide the necessary details requested for the foreclosure process, such as your payment amount and other relevant information. Take note of any applicable foreclosure charges or fees.
5. Review the charges:
There are no hidden surprises when it comes to foreclosing your Bajaj Finance Medical Equipment Loan. Carefully review the applicable foreclosure charges to make informed decisions. Ensure that you understand the fees involved and assess if the overall savings from foreclosure outweigh these charges.
6. Proceed with the payment:
Once you have reviewed and confirmed the foreclosure details, proceed with the payment process to finalise the loan foreclosure. Follow the instructions provided by the customer portal to complete the payment.
By following these step-by-step instructions and carefully reviewing the terms and charges involved, you can successfully foreclose your medical equipment loan from Bajaj Finance, saving on interest payments and reducing your financial obligations. Foreclosing your medical equipment loan can have a positive impact on not only on your overall financial well-being, but also on future financial endeavours.
