IDFC Bank offers tailored merchant loan solutions to help businesses meet their financial requirements efficiently. These loans come with attractive interest rates, flexible repayment tenures, and simplified approval processes, making them a preferred choice for merchants. The bank provides easy repayment options to ensure a seamless loan management experience for borrowers, empowering businesses to focus on their growth.

Bajaj Pay, the BBPS platform on Bajaj Finserv, makes loan repayments seamless and efficient. With this platform, you can view, pay, and download your loan repayment receipt with just a few clicks. Bajaj Pay also supports payments for various other financial obligations, allowing you to streamline multiple payments in one place.

How to repay your IDFC Bank merchant loan via the official website

To repay your IDFC Bank Loan Payment via the official website, follow these steps:

1. Visit the IDFC FIRST Bank website: Go to the official website and navigate to the loan repayment section.

2. Access the quick pay EMI option: Look for the "Quick Pay EMI" feature on the homepage or under the loans section.

3. Enter your details: Input your Loan Account Number (LAN) or your registered mobile number along with your date of birth.

4. Choose payment method: Select your preferred payment option, such as Billdesk, Paytm, or other wallets.

5. Complete the payment: Follow the prompts to enter the required payment details, including your bank account or debit card information, and complete the transaction.

6. Confirmation: After payment, you should receive an e-receipt via email or SMS confirming that your payment has been processed.

Note: The IDFC Bank mobile app also supports online EMI payments for added convenience.

How to make your IDFC Bank merchant loan repayment through the Bajaj Finserv website

Follow the steps below:

1. Visit the website: Go to the Bajaj Finserv homepage.

2. Navigate to payments: Click on the ‘BILLS AND RECHARGES’ section.

3. Select loan repayment: Choose ‘LOAN REPAYMENT’ under financial services.

4. Choose your biller: Select your loan provider from the drop-down list.

5. Enter loan details: Input your loan number and click ‘FETCH YOUR BILL’.

6. Select payment method: Choose from options like credit card, debit card, UPI, or net banking.

7. Enter payment Information: Fill in the required payment details.

8. Confirm payment: Review all details and click ‘PAY NOW’ to complete the transaction.

You will receive a confirmation notification after successful payment.

Payment via internet banking and debit card

1. Internet banking: Users can access their bank's online portal, select IDFC Bank Finance as a biller, and enter their loan account details to complete the payment. This method ensures secure transactions and instant confirmation.

2. Debit card payments: Customers can use debit cards directly on platforms like Bajaj Finserv. Simply enter the required information, including the loan account number, and authorise the payment.

Benefits of downloading IDFC Bank merchant loan repayment receipt online

Downloading your IDFC Bank Merchant Loan Repayment receipt online offers several significant benefits:

• Easy access: Digital receipts can be accessed anytime from your mobile device or computer, eliminating the need for physical storage.
• Instant confirmation: Receive immediate confirmation of your payment via email or SMS, ensuring you have proof of transaction.
• Enhanced security: Digital receipts are protected by secure systems, reducing the risk of loss or theft compared to paper receipts.
• Efficient record-keeping: Organise and sort receipts easily, making tracking payments and managing finances simpler.
• Environmentally friendly: Going paperless contributes to sustainability efforts by reducing paper waste.

Late payments: penalties and policies

Late payments on loans from IDFC Bank can lead to specific penalties and policies designed to encourage timely repayment. Here are some key points:

• Late fees: A fixed penalty may be charged for each missed payment, increasing the overall loan cost.
• Interest rate adjustments: Late payments can result in higher interest rates on outstanding balances.
• Credit score impact: Delayed payments may negatively affect your credit score, influencing future borrowing.

Contact IDFC Bank merchant loan support

For assistance with your loan repayment or queries, you can reach out via:

Customer care numbers

General banking queries: Call the toll-free number 1800-419-4332 for assistance with various banking services, including loans.

Loan-specific queries: For inquiries specifically related to loans, you can reach out at 1860-500-9900.

Email support

For issues that require detailed communication, you can send an email to banker@idfcfirstbank.com. Make sure to include relevant details such as your loan account number for quicker assistance.

Fees and charges

A convenience fee of up to 2% will be charged depending on the transaction amount and payment mode (inclusive of applicable taxes). For more information on fees and charges, click here.

Note: For failed transactions, the total amount including charges except taxes are reversed.