How to read Personal Loan Statement of Account

How to read Personal Loan Statement of Account

Get a detailed view of your personal loan transactions and payment details. Planning to get one? Check your offer in 2 steps.
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Rs. 40,000 - Rs. 55 lakh

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Once we process your personal loan application, we send you a 'Welcome Letter' in your email with your loan details. This letter has your loan account number, loan amount, and EMI due date. The charges on your loan are also included. 


Need a loan now? Check your pre-approved loan offer in just 2 steps and get funds in 24 hours*.


As you repay your personal loan installments, all your transaction details are kept in your Statement of Accounts (SOA). Your SOA has important details like total EMIs paid, date and amount of last EMI, and more. Missed or delayed payments and other loan transactions are also mentioned here.


Why this matters: You should check your statement regularly to track your repayment status. This helps you record your repayments and report errors if any.


Read on to know what the statement of accounts for a Bajaj Finserv Personal Loan includes.

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What's in your statement of accounts

  • Loan details

    This section has information like the loan date, the amount you borrowed, and the balance you still owe.

  • Payment summary

    This gives you a quick overview of your ongoing loan. It includes your instalment amount, breakdown of principal and interest for payments made, plus adjustments like bounce charges or penalties.


    Pro-tip: Always check this section to understand how much of your payment goes to principal vs. interest.

  • Transaction history

    You can find updates on all EMIs you've paid and a record of missed EMIs, if any. The transaction history also shows details of fees charged on the loan like bounce and part-prepayment charges.

  • Part-prepayment summary

    If you've paid a portion of your loan in advance, the record of such payment is stored here. This includes the transaction date and the amount you paid.


    Smart move: If you spot any wrong details in your loan account statement, visit our customer portal - My Account and raise a request to get it corrected.

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How to find your personal loan statement

You can find your personal loan statement by visiting our customer portal - My Account using a web browser on your phone or computer, or with the Bajaj Finserv app.

  • To find your loan statement from a web browser

    • Visit 'My Account' by clicking on the 'Sign-in to My Account' button on this page
    • Enter your registered mobile number and OTP on the login screen
    • Click on 'My Relations' to see your ongoing relationships with us
    • Under 'Loans', select your personal loan
    • Under the 'Quick Actions' tab, select 'View Statements' to view or download your loan account statement

  • To find your loan statement on the Bajaj Finserv app

    • Log in to the Bajaj Finserv app (you can download the app from the App Store and Google Play Store)
    • Click on the 'My Account' tab
    • Under 'My Relations', select the 'Loans' option
    • Select your personal loan
    • Under the 'Quick Actions' tab, select 'View Statements' to view or download your loan account statement

Visit My Account to review your statement of accounts. You can also find other related documents including your repayment report and your No Dues certificate there.


Sign-in to access your account now.

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How to apply for personal loan

  • Step-by-step guide to apply for a personal loan

    1. Click on ‘CHECK ELIGIBILITY’ on this page.
    2. Enter your 10-digit mobile number and the OTP sent to your phone.
    3. Check if you have an offer. If not, fill in the application form with your basic loan details, such as your full name, PAN, date of birth, and PIN code.
    4. Now, click on ‘PROCEED’ to visit the loan selection page.
    5. Enter the offer or loan amount that you need. Choose from our personal loan variants.
    6. Choose the repayment tenure and click on ‘PROCEED’.
    7. Complete your KYC and submit your application.

    Our representative will contact you for further steps.

Check your eligibility for personal loan using just mobile number and OTP – 100% online process. 


Related link: 

GST on foreclosure of Personal loan Cooling Off Period in Personal Loan Personal Loan EMI Bounce Charges What are Utility Bill 


 

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Key offerings: 3 loan types

  • Flexi Hybrid Term Loan
  • Flexi Term (Dropline) Loan
  • Term Loan

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    You can pay interest-only EMIs for up to 36 months, after which, the EMI will consist of both, the principal and the interest. EMI is applicable only on the withdrawn amount.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest on the loan amount you withdraw.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Amount disbursed in one go
    The entire loan amount is disbursed at the start.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest.

  • Flexi facility charges
    No Flexi facility charges.

Personal loan interest rate and applicable charges

Type of fee

Applicable charges

Rate of interest per annum

10% to 30% p.a.

Processing fees

Up to 3.93% of the loan amount (inclusive of applicable taxes).

Flexi Facility Charge

Term Loan – Not applicable

Flexi Loans –Up To Rs 1,999 To Up To Rs 18,999/- (Inclusive Of Applicable Taxes)

Will be deducted upfront from loan amount.

Bounce charges

Rs. 700 to Rs. 1,200/- per bounce

“Bounce charges” shall mean charges for (i) dishonor of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonor of payment mandate or non-registration of the payment mandate or any other reason.

Part-prepayment charges

Full Pre-payment:

  • Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment

  • Flexi Term (Dropline) Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount, as on the date of full prepayment.

  • Flexi Hybrid Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount, as on the date of full prepayment.

Part Pre-payment

  • Up to 4.72% (Inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part Pre-Payment.

  • Not Applicable for Flexi Term (Dropline) Loan and Flexi Hybrid Term Loan.

Penal charge

Delay in payment of instalment(s) shall attract Penal Charge at the rate of up to 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount.

Stamp duty (as per respective state)

Payable as per state laws and deducted upfront from loan amount.

Annual maintenance charges

Term Loan: Not applicable

Flexi Term (Dropline) Loan:

Up to 0.295% (Inclusive of applicable taxes) of the Dropline limit (as per the repayment schedule) on the date of levy of such charges.


Flexi Hybrid Term Loan:

Up to 0.472% (Inclusive Of Applicable Taxes) Of The Dropline Limit During Initial Tenure. Up to 0.295% (Inclusive Of Applicable Taxes) Of Dropline Limit During Subsequent Tenure

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Disclaimer

Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.
For customer support, call Personal Loan IVR: 7757 000 000