Reactivate your LAN in Bajaj Finserv

Reactivating a loan account number (LAN) can become necessary for several reasons, such as account dormancy, missed payments, or even system errors leading to closure. Whether you're looking to resume repayments, access your loan account statement, or apply for a new loan, having an active loan account is essential. This article outlines the key reasons to reactivate your loan account, the steps involved, and the required documents to ensure a smooth reactivation process. By following these guidelines, borrowers can regain control of their loan management and avoid disruptions.

Reasons to reactivate a loan account number

There are several reasons why borrowers may need to reactivate their loan account number. Below are key reasons to consider:

• Dormant account: If your loan account has remained inactive for a period, lenders may deactivate it for security reasons.

• Unpaid EMIs or settlements: If past EMIs or loan amounts were not settled, the account may have been deactivated and needs reactivation to continue payments.

• Account closure by mistake: Sometimes, loan accounts may be mistakenly closed by the lender or due to system errors, requiring reactivation.

• Resume loan repayments: If you wish to continue repaying your loan after a temporary pause or moratorium, reactivating your loan account is necessary.

• Access loan account details: For accessing your loan account statement or tracking EMI schedules, reactivation may be required.

• Obtain new loan: If you plan to apply for a new loan with the same lender, an active loan account number check may be necessary for eligibility.

Steps to request loan account reactivation

Requesting loan account reactivation can be straightforward if you follow the necessary steps:

1. Visit the customer portal: Start by logging into the lender's customer portal. This portal typically allows access to all loan-related services, including reactivation requests.

1. Navigate to loan services: Once logged in, find the section dedicated to loan management or services, where options to reactivate accounts are usually located.

1. Submit a reactivation request: Fill out the required form with your details, including the loan account number check, loan type, and reason for reactivation.

1. Provide required documents: Depending on the lender, you may need to upload documents like ID proof, address proof, and your loan account statement.

1. Wait for confirmation: After submitting the request, the lender will verify your details and reactivate the account. This process can take a few days, after which you'll be notified via email or SMS.

1. Follow up: If there is a delay in reactivation, contact customer support for further assistance and tracking of your request.

Required documents for loan account reactivation

To successfully reactivate your loan account, most lenders require specific documents to verify your identity and account status. Here's a breakdown of the commonly required documents:

• Proof of identity: A government-issued ID, such as your Aadhaar card, PAN card, or passport, will typically be required to confirm your identity and eligibility for account reactivation.

• Proof of address: A document like a utility bill, voter ID, or bank statement will help verify your current residential address. Make sure this document is updated to avoid any issues.

• Loan account details: You may need to provide your loan account number or loan account statement to help the lender locate your inactive account in their records.

• Loan agreement copy: Some lenders might request a copy of your original loan agreement to confirm the loan’s terms and conditions.

• EMI payment history: In cases where your loan was deactivated due to non-payment, providing records of your payment history will be necessary to assess the situation.

By gathering and submitting these documents, you can ensure a smooth reactivation process for your loan account.

Reactivating a loan account number is an essential step if your account has been deactivated due to inactivity, missed payments, or system errors. By following the proper procedures through your lender's customer portal and providing the required documents, you can ensure a smooth and hassle-free reactivation process. Whether you need to resume payments or access your loan account statement, understanding the necessary steps will help you regain control over your financial commitments efficiently.

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