How to Pay Bajaj Finserv Insta EMI Card Payment Online

Know the steps of paying your Bajaj Finserv Insta EMI card payment online.
How to Pay Bajaj Finserv Insta EMI Card Payment Online
2 min
5th May-2023

The Bajaj Finance Insta EMI Card is a digital card that converts your big-ticket purchases into easy and manageable monthly payments. It allows you to shop for your favourite products on No Cost EMIs and repay over a flexible repayment period ranging between 1 and 60 months. You can use this digital EMI card to shop for over one million products from 1.5 lakh + partner stores across 4,000+ large and small cities.

Your Insta EMI Card limit of up to Rs. 3 lakh works similarly to a loan but without any interest rate. Like other loans, you will have to make monthly payments to avoid penalties and enjoy the privileges the digital card offers.

How can you pay the Bajaj Finance Insta EMI Card EMIs

By following these steps, you can make your Bajaj Finance Insta EMI Card payment effortlessly.

Step 1: Access our customer portal – My Account.
Step 2: Log in to your account.
Step 3: Click on My Relation and open your Insta EMI Card details.
Step 4: Select ‘Make Payment’ option under the ‘Things you can do section’ on your screen.
Step 5: Choose if you want to make advance payments or foreclose your loan.
Step 6: Select your Loan Account Number (LAN) and make the Bajaj Finance Insta EMI Card payment using Debit Card, UPI or Netbanking option.

Apply for Bajaj Finance Insta EMI Card

What happens when EMI Card payments are missed?

Even if you choose a comfortable tenure and EMI amount, you may find it challenging to make the payment during certain months. However, missing your EMI payment can have serious implications.

Here are the consequences of missing your EMI payment.

  • Impacts credit score: EMI defaults or late payments can significantly drop your credit score. When you miss your Bajaj Finance Insta EMI Card payment, it is marked as a minor or major default on your credit profile. This may show you as a high-risk borrower, potentially hampering your future credit accessibility.
  • Negatively affects your creditworthiness: Apart from the credit score, missing an EMI payment also spoils your credit report, which lenders consider assessing your creditworthiness. When you default on a Bajaj Finance Insta EMI Card payment, it puts a 'black mark' or 'red flag' against your credit report. This can make it difficult for you to get approved for a loan in the future. In case you get the approval, the lender may charge higher interest.
  • Late fees and penalties: If you miss an EMI payment, the lender may impose late fees and other penalties. These charges can vary depending on the lender and the loan amount. Bajaj Finance charges a penal interest at 3.50% per month on delay in payment of monthly instalment, from the date of default until the receipt of the monthly instalment. Also, bounce charges are levied in case of default of repayment instrument amounting to Rs. 500/- per bounce.

Consequent to directive received from Reserve Bank of India, Bajaj Finance Limited has temporarily suspended issuance, sanction and Disbursal under it's online loan products "ECom" and "Insta EMI card". However, you can walk-in to any of our offline partner stores and get your product financed. Refer to the detailed FAQ on our website for further queries.


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Frequently asked questions

What happens when I miss an EMI payment?

Missing the Insta EMI Card payment affects your credit score and results in a negative impact on your credit report. It also leads to late payment fees imposed by your lender.

How can I pay my EMI due?

You can pay the Bajaj Finance Insta EMI Card outstanding amount by visiting our customer portal – My Account. You can pay through multiple channels, including net banking, debit card, UPI, and digital payment apps.

Do missing EMI payments affect my credit score?

Yes, missing EMI payments impacts your credit score. A record of the missed Bajaj Finance Insta EMI Card payment is documented in your credit report as a 'black mark' or 'red flag'. This can make it difficult for you to get approved for a loan in the future.

What is the average late payment charge for missed EMIs?

The late payment charge levied by Bajaj Finance for missed EMIs is 3.50% per month on the outstanding amount and In case of default of repayment instrument Rs 500/- per bounce will be levied.

Check How to Apply for Insta EMI Card