Pay in Advance EMI – Manage Your Loan Payments Effectively

For most loans, the instalment amount remains fixed over the repayment tenure. A set amount gets deducted from your bank account on a fixed date. If you have surplus funds at some point over the loan tenure, you may choose to pay off an EMI before the due date.

If advance payment is made 4 days before the due date of the ongoing month, your EMI will automatically get adjusted towards your instalment for the next month. This means that your EMI will not be deducted from your bank account next month.

You may choose the advance EMI option if you fear missing your due date, have issues with your bank account registration or any such instances. In fact, you can choose from several modes of payment to make an advance EMI. This will ensure that your EMI is paid ahead of time, and you avoid any penal charges applicable and any negative impact on your credit score in the case of missed EMIs.

With the service portal, you can pay one EMI in advance if you have opted for our Flexi Loan variant and up to five EMIs if you have chosen a regular term loan.

Note: Advance EMI cannot be treated as part-prepayment or foreclosure of the loan(s) irrespective of the loan variant availed or the amount paid by you and hence no interest is payable by BFL on the advance EMI or no interest benefit by treating advance EMI amount as part-payment will be given in the loan.

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  How to Pay EMI in Advance Online?

  You can pay your loan EMIs in advance in the service portal by following these simple steps:

  • Click on ‘Sign-in’ button on this page.
    
  • Enter your mobile number, date of birth and verify your details with an OTP.
    
  • Go to ‘Home’ and click on ‘Pay EMIs’
    
  • Select your loan account number and click on ‘Proceed’
    
  • Scroll to the ‘Advance EMI’ tab
    
  • Select the month for which you wish to make payment and click on ‘Proceed to payment’
  • Select your preferred payment mode and click on ‘Pay now’

  
  Alternatively, you can also follow the given steps to make an advance EMI payment:

  1. Go to ‘Service’ and click on ‘Relations’
  2. Select your loan account number
  3. Click on ‘Make loan payments’ and select ‘Advance EMI’
  4. Select the month for which you wish to make payment and click on ‘Proceed To Payment’
  5. Select your preferred payment mode and click on ‘Pay Now’

  Pay your EMI in advance

Partial vs. Full Advance Payment: Key Differences

Feature	Partial Advance Payment	Full Advance Payment
Definition	Payment of one or more upcoming EMIs in advance without closing the loan.	Clearing the entire outstanding loan amount before the end of tenure.
Purpose	Reduces short-term EMI burden or future interest outgo.	Aims to close the loan entirely and become debt-free early.
Tenure Impact	May reduce EMI burden or slightly adjust loan tenure.	Ends the loan tenure immediately.
Interest Savings	Helps reduce future interest on advanced EMIs.	Maximises total interest saved by closing the loan early.
Charges Applicable	Usually no charges, but depends on lender policy.	Foreclosure charges may apply based on terms and tenure.
Loan Closure	Loan remains active; regular EMIs continue post-advance period.	Loan account is closed upon successful payment.
Credit Score Impact	Positive impact when payments are timely.	Positive impact with a note of early closure.
Documentation Needed	Minimal or none.	May require foreclosure request or formal intimation.

 

Bajaj Advance EMI Payment Charges & Rules

• Advance Payment Definition: You can pay one or more upcoming EMIs in advance using the Bajaj Finserv customer portal or app.

• Charges: No additional charges for paying EMIs in advance, provided it's done via official channels.

• Eligibility: Available to customers with active loan accounts and regular EMI history.

• Modes of Payment: Payments can be made via UPI, net banking, debit card, or NACH.

• Effect on EMI Cycle: Subsequent EMIs will be adjusted according to the amount paid in advance.

• Preconditions: Some products may have minimum advance payment amounts or restrictions based on tenure.

• Confirmation: Always download and retain the updated statement after making an advance EMI payment.

Impact on Credit Score & Loan Tenure

Making an advance EMI payment—either partially or fully—can have a positive effect on your credit score if managed responsibly. Timely or advance payments signal strong repayment behaviour, which credit bureaus view favourably. Partial advance payments help reduce the interest burden slightly and reflect financial discipline, though they don’t alter the overall loan tenure drastically. On the other hand, full advance payments, also known as foreclosure, directly close the loan account. This not only eliminates future EMIs but also improves the credit utilisation ratio, boosting the credit score in most cases.

Regarding loan tenure, a partial advance may allow for a minor rescheduling of the EMI timeline or reduction in monthly instalments, depending on lender policy. However, a full payment brings the tenure to an end immediately. While early closure is beneficial, it’s important to check foreclosure charges, as they can reduce the overall interest-saving benefit.

If you have surplus funds or have a fear of missing your monthly instalment due date, you can choose to pay your EMIs in advance. This payment option will help you avoid any penal charges applicable in the case of a missed EMI.

However, if you pay an advance EMI 4 days before your payment due date of the month, your advance EMI amount gets adjusted in the subsequent month’s instalment. This is because your current month’s EMI is under presentation to your bank for the deduction. In case your upcoming EMI bounces, your advance payment can be adjusted towards your loan.