Manage Bank Account Details Online - Bajaj Finance Service Portal

When you take a loan from us, you have to register an active bank account into which the loan is disbursed. This is the account that your EMIs will be deducted from.

If your bank account undergoes a change, it’s important that you update it on our records. You must do this to prevent the possibility of EMI bounce, unnecessary charges, and a negative impact on your CIBIL Score.

You can manage your bank account details by signing-in to our service portal.

If you’ve opted for our Flexi Loan variant, you have the option to manage two kinds of bank accounts. This includes the EMI repayment account and the withdrawal bank account.

The repayment account is the account from which your EMIs are deducted every month. Your withdrawal bank account is the account in which you receive funds when you withdraw money from your Flexi Loan.

You can update your repayment bank account details in service portal by following these simple steps:

• Sign-in to our customer portal with your mobile number and the OTP
• Enter your date of birth for verification and proceed
• Go to 'service'
• Select the loan account from 'Relations'
• Scroll down to 'Bank details'
• Click on 'Change bank account'
• Enter the details such as the account holder's name, new bank account number and IFSC code
• Select the registration mode and proceed

You can also change your repayment bank account details by clicking on the ‘Manage your repayment account’ text below. You’ll be asked to sign-in to the service portal. Once signed-in, you’ll be redirected to our ‘Bank account details management’ section.

 You can then select your loan account and proceed by entering the other required details.

 Manage your repayment account

You’ll receive a confirmation message on your screen once your bank account details are successfully registered.

Also, any change in your repayment bank account doesn’t change your withdrawal bank account details.

You can change your withdrawal bank account by visiting our service portal.

• Sign-in to the service portal with your mobile number and the OTP
• Verify your details using your date of birth and proceed
• Go to 'Service.'
• Select the 'Flexi loan account' from 'Relations.'
• Click on 'Withdrawal bank change' and proceed to check your existing account details.
• Click on 'Proceed' and enter the 'OTP.'
• Enter new bank account details and IFSC.
• Click on 'Proceed' to update new bank account details.

Alternatively, you can update your withdrawal bank account by clicking on the ‘Manage your withdrawal account’ text below. You’ll be asked to sign-in to the service portal and redirected to the ‘Relations’ section. Select your Flexi Loan account and click on the Withdrawal Bank Change’. You can then click on ‘Update Bank Account’ below your withdrawal bank account details and proceed.

 Please note that any change in your repayment bank account doesn’t change your withdrawal bank account details.

Manage your withdrawal account

When you take a loan, you need to register your bank account details for disbursement and EMI deduction. This ensures that your EMIs are deducted on time and that there’s no negative impact on your CIBIL Score. If your bank account details have changed, you must update them to ensure hassle-free loan repayment. All you have to do is visit our service portal and update your repayment bank account in a few clicks. If you’ve opted for our Flexi Loan, you also need to register your bank account to receive funds using the withdrawal facility. If there is any change in your withdrawal bank account details, you can visit our service portal and update it.

Yes, you can request to change the bank account used for EMI payments. This may be useful if you have closed your existing account, changed banks or want your EMIs to be deducted from a different account.

To update your EMI bank account, you generally need to register a new e-mandate or auto-debit instruction for the new account. The change request can usually be initiated through the My Account portal, mobile app or by contacting customer support.

Before submitting the request, ensure that the new bank account is active and has sufficient funds for future EMI payments. The update may take some time to become effective, so continue monitoring your existing account until you receive confirmation that the new mandate has been successfully registered.

Changing your bank account does not change your loan terms, EMI amount or repayment schedule.

You may need to provide certain documents when requesting a change in your EMI bank account details.

Commonly required documents include:

• A cancelled cheque of the new bank account
• Bank account proof, such as a recent bank statement or passbook copy
• PAN card or another valid identity proof, if required
• Signed mandate or e-mandate registration form, if applicable
• Any additional documents requested for verification
   

Ensure that the name on the new bank account matches the details registered with Bajaj Finance. Incorrect or incomplete information may delay the update process.

Note: For e-mandate registration, your bank may charge a one-time mandate registration fee. Charges vary by bank.