Clear your overdue EMI
Clear your overdue EMI today – stop penalties & fix your credit
*Overdue charges include penalty interest and bounce fees as applicable. T&C apply.
In Summary
EMI Payment: Pay Overdue EMI Online
An overdue secured loan payment carries a bit more at stake than an unsecured one, your collateral is behind it, so checking and clearing it promptly matters more here than on a loan with nothing pledged against it.
- Use the right payment route. Select Missed Instalments/Other Overdues in My Account or the app to see and pay the exact amount due, rather than a general payment option
- A single missed EMI is not an immediate risk to your collateral. That only follows continued non-payment and the applicable notice process, but addressing the overdue amount early keeps it that way
- Verify before you pay. Compare the amount with your loan records, and pay only through My Account, the app or another official channel, never to a personal account or a link in a message
- Paying stops further charges but does not erase the record. An earlier delay can remain in your credit history even after you clear the overdue amount
If your secured loan EMI is overdue, check the exact amount through My Account or the Bajaj Finance App and pay through an authorised channel today, and contact Bajaj Finance directly if you cannot clear it in full.
What does an overdue payment for a secured loan mean?
An overdue payment for a secured loan occurs when a scheduled EMI or instalment is not paid by the due date. The unpaid amount remains pending in the loan account until it is cleared according to the applicable loan terms and repayment process.
A secured loan is backed by collateral provided by the borrower as security against the borrowed amount. This is what makes addressing an overdue payment on a secured loan matter a bit more than on an unsecured one, your pledged asset stands behind the loan. Review your loan account information, understand the overdue details, and take appropriate steps to manage the pending payment.
What happens when a secured loan payment becomes overdue?
When a secured loan payment becomes overdue, the unpaid EMI or instalment remains pending until it is cleared as per the applicable loan terms. The possible effects include:
- Pending loan dues: The unpaid EMI or instalment continues to reflect as pending until the payment is cleared
- Additional charges: Applicable charges may apply according to the loan agreement
- Credit record impact: Delayed payments may affect your credit record and repayment history
- Continued non-payment risk: Beyond a certain point, further consequences can follow depending on your loan agreement and applicable law
A single missed EMI does not put your collateral at immediate risk. Continued non-payment can lead to recovery action concerning the pledged asset, following the applicable notice and process set out in your loan agreement. Addressing an overdue amount promptly reduces this risk, and delaying it only increases both the amount owed and the potential for further consequences.
How to check overdue payment details for a secured loan
You can check your overdue payment details through My Account or the Bajaj Finance App.
Check the following details:
- Outstanding overdue amount
- Loan account information
- Pending EMI or instalment details
- Payment history and available transaction records
How to clear overdue payments for a Bajaj Finance secured loan
Through My Account or the Bajaj Finance App
- Sign in using your registered mobile number and OTP
- Select your secured loan account
- Select Make Loan Payments, then choose Missed Instalments/Other Overdues
- Review the amount payable, including any charges, and complete the payment using an available method
- Save the payment confirmation
Pay only through My Account, the Bajaj Finance App, or another official channel, never to a personal account or a link received in a message. After completing the payment, review your loan account to confirm the updated status.
How can you avoid future overdue payments?
You can reduce the risk of future overdue payments by:
- Monitoring your loan repayment schedule, so you know upcoming due dates in advance
- Keeping sufficient funds available for scheduled repayments before each due date
- Checking that your NACH mandate remains active and correctly linked
- Contacting the lender proactively if you anticipate difficulty meeting an upcoming repayment
A missed payment should be addressed as soon as reasonably possible. Checking the overdue amount, making the applicable payment, and verifying the updated account record is the clearest way to manage the outstanding obligation and protect your collateral.
Frequently Asked Questions
Secured Loan Overdue Basics
Clearing Overdue & Asset Protection
What happens if my secured loan EMI remains unpaid after the due date?
The amount continues to remain pending in your loan account, and applicable charges may accrue. Check your overdue details through My Account or the Bajaj Finance App and clear the pending payment promptly to limit further consequences.
How can I know whether my secured loan payment is overdue?
Sign in to My Account or the Bajaj Finance App and select your secured loan account. Check the pending EMI information, outstanding amount, and payment history to confirm your current repayment status.
What details should I check before clearing an overdue secured loan payment?
Review the pending amount, your loan account details, and any applicable charges shown before making payment. Confirming these details helps ensure your payment is made towards the correct loan account and the correct amount.
What records should I keep after paying an overdue loan amount?
Keep the payment receipt, transaction reference, date and amount paid, and your updated loan statement. These records help you verify that the payment was completed and support any future query about your account.
How does clearing overdue payments help manage my secured loan account?
Clearing overdue payments updates your repayment status and stops charges and any collateral-related risk from continuing to build. Reviewing your updated account details afterwards helps you confirm your account is back on track.
What should I do if my overdue payment is not reflected after making the payment?
Check your transaction confirmation and loan account details first. If the payment does not appear after a reasonable time, contact the lender through an official channel with your transaction reference for verification.
Can my collateral be affected if my secured loan payment is overdue?
A single missed EMI does not put your collateral at immediate risk. Continued non-payment can lead to recovery action concerning the pledged asset, following the applicable notice and process in your loan agreement. Contact the lender promptly to address an overdue amount before it progresses further.
What causes a secured loan payment to become overdue?
A secured loan payment becomes overdue when a scheduled EMI or instalment is not paid by the due date. This can happen due to insufficient funds, a failed auto-debit, or a mandate issue, and the pending amount remains due until cleared.
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