Manage your Flexi Loan in My Account

Bajaj Finance Limited offers two Flexi variants for some of its loan products - Flexi Term Loan and Flexi Hybrid Loan. These variants give you the flexibility to manage your EMIs based on your financial situation.

When you choose either of our Flexi variants, a loan limit is assigned to you. You can withdraw funds from this pre-assigned limit whenever you need them and pay interest only on the withdrawn amount. You can also part-prepay your loan at no additional cost.

If you choose the Flexi Hybrid Loan, you will also have the additional benefit of paying interest-only EMIs for the initial tenure.

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  Get the most out of your Flexi Loan

  • Withdraw as many times as you need from the available loan limit during the loan tenure.
  • Part-prepay your loan as many times as you like without any additional charges.
  • Pay interest only on the amount you withdraw from your available limit.

  
  Manage your Flexi Loan features

You can also check your Flexi Loan details, manage fund withdrawals and loan repayment by visiting our customer portal – My Account. Click on the respective links at the top of this page for more details.

When you borrow any loan, you usually repay it in Equated Monthly Instalments (EMIs). Your EMI usually consists of principal and interest, and it gets auto-deducted from your registered bank account on a pre-set date. However, if you choose our Flexi Hybrid Loan, you get the option to pay interest-only EMIs for the initial tenure.

If you have surplus funds and wish to pay a part of your loan in advance, our Flexi variants provide you with the flexibility to part-prepay without paying any additional charges.

You can part-prepay your Flexi Loan or explore other payment options by visiting our customer portal – My Account.

Advance EMIs, foreclosure and overdue EMIs

If you fear missing your EMI due date, you can use the advance EMI facility and pay your monthly instalment in advance. This will help you in avoiding any negative impact on your CIBIL Score or penal charges applicable in the case of missed EMIs. You will also be not able to use your Flexi Loan account features if your EMI bounces.

You can also use our foreclosure facility to pay your entire outstanding amount in one go and close your Flexi Loan early. However, you may be asked to pay additional foreclosure charges.

If you have missed any instalment due to a low account balance or technical error, you can use the overdue EMI facility to clear your dues.

Disclaimer: Please note that the amount paid by you towards Advance EMI is applied for repayment of your monthly EMI only and is not to be treated as part-prepayment or foreclosure of the loan, irrespective of the loan variant availed by you. No interest is payable by BFL on the advance EMI amount paid by you.

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  Make your Flexi Loan payments

  You can part-prepay your loan, pay an EMI in advance, clear your overdue instalment or foreclose your loan in My Account

  • Visit our customer portal by clicking the ‘Sign-in’ button on this page.
  • Enter your registered mobile number, and date of birth and submit the OTP to sign-in.
  • Choose the payment option and select your Flexi Loan account number for which you want to make a payment.
  • Enter the amount and, if applicable, review the additional charges.
  • Click on ‘Proceed’ to complete your payment using our secured payment gateway.

  
  You can also manage your Flexi Loan repayment by clicking on ‘Pay your Flexi Loan EMIs’. You will be asked to sign-in to ‘My Account’ where you can select your loan account number, choose the payment type, and proceed with the payment
  

  Pay your Flexi Loan EMIs

You can also download your updated statement of account or check your Flexi Loan details by visiting our customer portal – My Account. Click on the respective links at the top of this page for more details.

When you take any loan, irrespective of the variant you choose, you are assigned a unique string of numbers known as the Loan Account Number (LAN). Your LAN assists you in tracking Flexi Loan details such as loan status (whether active or closed), utilised limit, available limit, EMI amount, and due date.

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  View your Flexi Loan details

  You can check your loan details in My Account by following these simple steps:
  

  • Go to our customer portal by clicking the ‘Sign-in’ button on this page.
  • Enter your registered mobile number and date of birth, and submit the OTP to sign-in.
  • Select the loan for which you want to view details from the ‘My Relations’ section.
  • View information about your Flexi Loan, such as the used limit, the available limit, the EMI amount, the next due date, and more.

  You can directly go to our customer portal by clicking on the ‘Check your Flexi Loan details’ option below. Once signed-in, you will be redirected to the ‘My Relations’ section, where you can select your loan account to view its details.
  

  Check your Flexi Loan details

You can also check others details of your Flexi Loan account such as registered repayment bank account, number of EMIs paid and tenure by visiting our customer portal.

Your statement of account is a very important document as it helps you track your loan repayment status. Your loan statement is a detailed transaction history that includes, total EMIs paid, principal outstanding, a part-payment summary, or missed EMIs if any.

It is necessary to check your loan statement regularly, and it helps you keep a record of every transaction, you make against your loan account and reports errors if there are any.

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  Download your statement of account

  You can view and download your loan statement in My Account

  • Click on the ‘Sign-in’ button on this page to visit our customer portal.
  • Enter your registered mobile number, and date of birth and submit the OTP to sign-in.
  • Visit the ‘Document Center’ section and select the loan account for which you want to view your loan statement.
  • Click on ‘Statement of Account’ to download it.

  
  You can also find your statement of account and other Flexi Loan-related documents by clicking on ‘View your Flexi Loan statement’ below. You will be asked to sign-in to My Account. Once signed-in, you can select your loan account number from ‘Document Center’ and click on ‘Statement of Account’ to download it.
  

  View your Flexi Loan statement

You can also view or download your other Flexi Loan-related documents such as repayment schedule and loan agreement. Click on the ‘Flexi Loan Statement’ link at the top of this page for more details.

When you choose any of our Flexi Loan variants, you have the option to register two different bank accounts – a repayment bank account and a drawdown bank account.

Your repayment bank account is the one from which your EMIs get deducted every month, while your drawdown bank account is where you receive funds when you withdraw from the available limit of your Flexi Loan.

If either of your bank accounts undergoes any change, it is critical to update the information to ensure that your loan repayment goes smoothly and that you receive the funds from your Flexi Loan without any problems. Please note that any change in your repayment bank account does not change your drawdown bank account details.

You can manage your bank account details in just a few clicks by visiting My Account.

Please note that if you have initiated any change in your profile details, you have to wait at least 90 days to update your drawdown bank account details.

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  Update repayment bank account details

  You can change your repayment bank account in our customer portal by following these simple steps:

  • You can sign-in with your registered mobile number and date of birth.
  • Select the loan account for which you want to update your bank details and proceed.
  • Enter the required details, such as the accountholder’s name, bank name, and IFSC.
  • Choose your registration mode and proceed.

  
  You can also directly visit our customer portal by clicking on ‘Manage your repayment bank account’ below. You will be asked to sign-in. Once signed-in, you will be redirected to our ‘Mandate Management’ section. You can then select your loan account, enter the details of your new bank account, and proceed.

  You will receive a confirmation message on your screen, once your bank account details get updated. A confirmation SMS will also be sent to your registered mobile number.

  Manage your repayment bank account

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  Change your drawdown bank account details

  You can manage your drawdown bank account details by visiting our customer portal – My Account:

  • Sign-in with your date of birth, and mobile number and verify your details with the OTP.
  • Select your loan account from ‘My Relations’ for which you wish to update drawdown bank account details.
  • Click on the ‘Withdraw’ option from ‘Quick Actions’ and then click on the ‘Update Bank Account’ text below on your screen.
  • Enter the new bank account details, IFSC and click on ‘Proceed’ to update your details.

  
  Alternatively, you can also click on ‘Manage your drawdown bank account’ below to get started. You will be asked to sign-in to My Account. Once signed-in, select your loan account from My Relations and click on ‘Withdraw’ from 'Quick Actions'. You can then click on ‘Update Bank Account’ and proceed.

  Manage your drawdown bank account

You will have three attempts to update your drawdown bank details correctly. Please note your personal details mentioned in our records need to match the personal details of your bank account.

Similarly, if you are a corporate customer, your customer details mentioned in our records need to match with the details of your new bank account.

In case of any technical issue, you can update your drawdown bank account only after 24 hours.