Our pharma loan is a very handy way to manage your expenses, especially in times of need. And if you have excess funds, you may have thought of foreclosing the loan. Foreclosing the loan means paying off the entire outstanding loan amount before the end of the tenure.
Here is a step-by-step guide to help you through the process of foreclosing your loan.
1. Access your account on our app or web:
Start by accessing your account on our website using your date of birth, mobile number and OTP for authentication. If you are using our app, log in and navigate to the account section.
2. Choose the loan account:
Now you need to select the specific pharma loan account that you wish to foreclose from the options available in your ongoing relations.
3. Select foreclosure option:
After choosing the loan account, locate the 'Foreclosure' option among the various payment options presented to you.
4. Provide the required details:
Enter the necessary information requested for the foreclosure process, such as the payment amount and other relevant information. Make sure to account for any applicable foreclosure fees or charges.
5. Review charges:
Review and carefully assess the applicable foreclosure charges presented to you. Ensure that you understand the fees involved and evaluate if the overall savings from foreclosure outweigh these charges.
6. Proceed with the payment:
Once you have reviewed and confirmed the foreclosure details, you can proceed with the payment process to finalise the loan foreclosure. Follow the instructions provided by the customer portal to complete the payment.
Go through the foreclosure terms and conditions of your loan carefully and follow the steps outlined above to foreclose your loan successfully. By foreclosing the loan, save money on interest payments and minimise your financial commitments.
It’s really that simple!
