Loan foreclosure in My Account

Repay your outstanding loan amount in one go by signing-in to our customer portal.

How to foreclose a loan

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Foreclose your loan account

If during your loan tenure, you have surplus funds, you can foreclose your loan by paying the outstanding amount. You can foreclose your loan at any point after your first EMI, however, you may be asked to bear a foreclosure charge.

  • Here are the steps you can follow for loan foreclosure

    Here are the steps you can follow for loan foreclosure

    To foreclose your loan account:

    • Sign-in with your mobile number and the OTP
    • Enter your date of birth for verification and proceed
    • Choose the loan account you wish to close and enter the required details
    • Select ‘Foreclosure’ from the payment options
    • Review the applicable foreclosure charges and proceed with the payment

    You can also click on ‘Foreclose your loan’ to sign-in. Once signed-in, select ‘Foreclosure’ from the list of options, choose your loan account, and proceed with the payment. You can download your no dues certificate within 48 hours of foreclosure.

    Foreclose your loan

  • Check your loan account

    Use your mobile number and the OTP to sign-in to our customer portal.

Frequently asked questions

What is loan foreclosure?

Loan foreclosure means closing your loan early by paying the entire outstanding amount in one instalment. If you have an ongoing loan with Bajaj Finance, visit our customer portal – My Account and foreclose your loan in a few simple steps.

Foreclose your loan

What are the benefits of loan foreclosure?

If you have surplus funds while you are repaying a loan, you can use those funds to close your loan early. This is called loan foreclosure. With this payment option, you can pay the entire outstanding amount in one go and become debt-free faster.

The interest component in your EMI may seem tiny but the longer your tenure is, the more interest you’ll end up paying. If you opt for a loan foreclosure, you’ll be able to save on the total interest outgo.

Foreclose your loan

What documents are required for loan foreclosure?

When you foreclose an ongoing loan with Bajaj Finance, you don’t need to submit any documents. You can visit our customer portal – My Account and foreclose your loan in just a few clicks. Your no dues certificate gets generated within 48 business hours of loan foreclosure.

What happens when you foreclose your loan?

With our loan foreclosure option, you can pay your entire outstanding amount in one go ahead of the tenure. Once you foreclose your loan, you don’t need to pay any more EMIs of that loan and can become debt-free faster.

What are the penalty charges applicable on loan foreclosure?

If you’re foreclosing a loan, you might be asked to pay additional foreclosure charges along with the outstanding loan amount. You can check your loan agreement or click on the below link to know more about the foreclosure fees.

Check the list of fees and charges

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