Lender Not Responding to Your Pre-Closure Request? Here's What to Do

A loan pre-closure request is a request to repay the applicable outstanding amount and close the loan before its scheduled maturity date. It is different from part-payment, where you pay an additional amount towards the outstanding principal without necessarily closing the loan account. Before submitting a pre-closure request, review your loan agreement and confirm the current outstanding amount, applicable dues, and requirements for early repayment. Check whether your loan permits pre-closure, whether any applicable charges or conditions apply, the accepted payment method, and whether specific documents or forms are required. The applicable pre-payment treatment can depend on factors such as the loan type, interest-rate structure, purpose, borrower category, and lender. RBI's current framework also provides specific restrictions on pre-payment charges for certain loans sanctioned or renewed from January 1, 2026. Therefore, check the terms applicable to your specific loan before proceeding with a pre-closure request and payment.

Why is your pre-closure request delayed? 

A pre-closure request may require account verification, calculation of the amount payable or completion of specific lender processes before it can be acted upon. A request should not be treated as completed merely because it has been submitted. The lender may need to verify the loan account and communicate the amount required for pre-closure or part-payment.

Possible reasons for a pending request include:

• Additional documents required: The lender may need further information or documents to verify the request.
• Incorrect service channel: The request may have been submitted through a channel that does not process pre-closure requests.
• Amount verification: The lender may need to calculate or confirm the outstanding amount, applicable dues, or other charges.
• Pending account activity: Another transaction, payment, or service request may need to be completed before pre-closure can be processed.
• Processing in progress: The request may have been registered successfully but still requires internal verification or further action.
• Account-specific requirements: Additional checks may apply depending on the loan type, agreement, or servicing process.

The lender's applicable loan documents and grievance policy should be checked for the specific process. RBI's Fair Practices Code framework requires lenders to maintain appropriate grievance redressal mechanisms and provide information affecting the borrower's interests.

If your pre-closure request is pending, you can use the Bajaj Finance App or My Account portal to review your loan details and check the available service options. Keeping your request reference number and payment records handy can make follow-up easier. The exact options may vary based on your loan type and account status.

Follow these steps: 

1. Open the Bajaj Finance App or My Account portal.
2. Sign in using your registered mobile number and OTP.
3. Go to My Relations or the relevant Loans or Portfolio section.
4. Select the applicable loan account.
5. Review Loan Details, the account summary or Statement of Account.
6. If you need to follow up on a pending request, open Help and Support.
7. Select the relevant loan servicing or payment-related request option available for your account.
8. Enter the request details and upload supporting documents if requested.

The available options can vary according to the loan type and account status. If you have already submitted a pre-closure request, retain the reference number and use it when following up. Continue paying scheduled EMIs until the lender confirms the applicable repayment change or loan closure.

What documents should you keep for a delayed pre-closure request?

Maintaining payment and communication records helps establish when the request was made and what response was received.

Keep the following documents where applicable:

Avoid making a large payment towards pre-closure based only on an informal communication. Use the payment instructions provided through an official lender channel.

What to do if your lender does not respond to your pre-closure request 

If your pre-closure request has not been acknowledged or processed, follow up through the lender’s official channels and keep a clear record of every communication. Confirm the request status before making any payment based on an unverified amount.

Follow this process:

1. Review your loan agreement
   Check the clauses covering pre-closure, part-payment, applicable charges and any conditions that apply.
    
2. Submit the request through an official channel
   Use the lender's recognised digital platform, customer service channel, branch or other specified process.
    
3. Ask for an acknowledgement
   Keep the request number, email confirmation, receipt or other evidence showing when the request was submitted.
    
4. Ask for the current status
   If there is no response, contact the lender and clearly state the loan account number, original request date and the action required.
    
5. Request the amount payable
   If the lender accepts the request, ask for the applicable pre-closure or part-payment amount and payment instructions.
    
6. Escalate if the issue remains unresolved
   Use the lender's grievance redressal mechanism if customer service does not resolve the matter.
    

Keep copies of all requests, responses, payment records, and supporting documents. Continue scheduled repayments unless the lender confirms otherwise, so that the pending request does not leave an EMI unpaid.