MyShubhLife, a digital lending and savings platform, aims to democratise credit for the 'Next Half Billion' in India. Using unique data science models, it provides transparent credit to households with an annual income of Rs. 1,40,000 to Rs. 4,50,000, constituting 45% of society but having only 8% access to formal credit.

You now have the convenience of making EMI payments anytime from anywhere and without the stress of filling out lengthy documents thanks to the BBPS platform on Bajaj Finserv. The platform is simple to use and very welcoming to users and offers quick and hassle-free payment solutions to customers.

The Reserve Bank of India (RBI) introduced the concept of BBPS, intending to streamline digital payments.

Pay bank loans by other lenders

Apart from MyShubhLife loan repayment, you can pay EMI for other loan providers across India, such as Manappuram Finance | IDFC First Bank | Hero Fincorp | Muthoot Finance | ICICI Bank | HDB Finance | Axis Bank | Mahindra Finance | IIFL Finance.

Benefits of making MyShubhLife loan repayment using the Bajaj Finserv BBPS platform

Some of the benefits of making MyShubhLife loan repayment on the Bajaj Finserv BBPS platform include:

Quick and hassle-free

With the BBPS platform on Bajaj Finserv, you can repay your MyShubhLife loan quickly and effortlessly.

Safe and secure

The Bajaj Finserv BBPS is a safe and secure payment platform. Your payment details are secure with the platform’s robust security measures.

Multiple payment options

Bajaj Finserv offers multiple payment options, including debit card, credit card, net banking, e-wallet, and UPI. This allows you to choose the payment method that suits you best.

Instant confirmation 

After making the payment, the platform immediately confirms the payment through an email and SMS.

Types of MyShubhLife loans

MyShubhLife provides a diverse range of loans catering to various needs:

• Personal loans: MyShubhLife extends personal loans even to individuals without a credit score. The credit model assesses creditworthiness, offering loans ranging from Rs. 3,000 to Rs. 2,00,000. These loans, tailored to individual needs and repayment capacity, cover purposes such as education, medical bills, home upgrades, and emergency expenses.
• Earned wages: The platform offers earned wages to employees of its ‘Shubh Saathi’ corporate partners, allowing early access to earned wages without waiting for payday. This feature helps manage unexpected expenses with a zero-interest rate.
• Investments: MyShubhLife facilitates digital investment options, including mutual fund SIPs starting from Rs. 100 per month and e-Gold from Rs. 100, providing an accessible way to grow wealth.
• Insurance: Affordable group insurance options from MyShubhLife safeguard families, offering coverages like Hospicash, Super Top Up, Critical Illness, and Personal accident coverage.
• Tax filing: MyShubhLife streamlines the tax filing process with a digital platform. Users can easily file taxes by selecting income sources and accurately e-filing with just a few clicks.

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.

Making MyShubhLife loan repayment on the Bajaj Finserv app is a very easy process. Follow these simple steps to make your payment online

1. Download and install the Bajaj Finserv app from Google Play Store or App Store
2. Login with your credentials
3. Go to ‘BILLS AND RECHARGES'
4. Select ‘LOAN REPAYMENT' under the ‘FINANCIAL SERVICES AND TAXES’ section
5. Select ‘MYSHUBHLIFE’ as the issuing bank and enter your Loan Agreement Number
6. Enter the loan amount and select the preferred payment mode
7. Make the payment to repay your loan

Once you have completed the payment, you will receive an e-receipt, which you can keep for future reference.

Steps to make MyShubhLife loan repayment on the Bajaj Finserv website

Here is how you can repay MyShubhLife loan online on the Bajaj Finserv website:

1. Visit the Bajaj Finserv website or click on https://www.bajajfinserv.in/
2. Go to the ‘BILLS AND RECHARGES’ under the ‘PAYMENTS’ section
3. Under ‘FINANCIAL SERVICES AND TAXES,’ select ‘LOAN REPAYMENT’
4. Choose your biller from the drop-down
5. Enter your loan account number and click on ‘FETCH YOUR BILL’
6. Select a payment method from the list of available payment options such as
7. credit cards, debit cards, and net banking
8. After choosing your preferred payment mode, enter the requested payment details 
9. Check the details you entered and click on 'PAY NOW’

You will receive a notification from Bajaj Finserv after successful payment.