As per your loan
Don't let your consumer durable loan EMI go overdue – pay now!
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In Summary
Manage and service your loans seamlessly via My Account
You can repay your consumer durable loan in My Account by selecting your loan and choosing a payment type: a scheduled EMI, an advance EMI, an overdue EMI or foreclosure.
- Sign in to My Account with your registered mobile number, OTP and date of birth.
- Select your loan under Your Relations, then choose Make loan payments.
- Pick the payment type that matches your loan status and review the amount before you pay.
- Check your loan account afterwards to confirm the payment is recorded.
- If a payment fails or does not appear, contact Bajaj Finance through an official support channel.
Keep your payment receipt and transaction reference until your loan account shows the payment.
What is a consumer durable loan?
A consumer durable loan lets you pay for household appliances and electronics in monthly instalments (EMIs) instead of upfront. If you shop with an Insta EMI Card, your EMIs are debited from your registered bank account on a set date each month. You can also pay early, clear a missed EMI or foreclose the loan in My Account.
How can you repay your consumer durable loan through My Account?
- Sign in. Click the sign-in button to open My Account.
- Verify yourself. Enter your registered mobile number and submit the OTP, then verify with your date of birth.
- Select your loan. Go to Service and select your loan under Your Relations. Each financed purchase may have its own loan account, so choose the one you want to pay.
- Open payments. Click Make loan payments.
- Choose the payment type. Select Advance EMI, Overdue EMI or foreclosure.
- Pay. Review the amount, select a payment mode and complete the payment.
- Save your confirmation. Keep the receipt or transaction reference.
How do you pay an advance EMI?
After step 4 from above follow this:
- Select the Advance EMI option.
- Choose the month you want to pay.
- Click Proceed to payment.
- Select a payment mode and click Pay now.
An advance EMI covers a monthly instalment only. It is not a part-prepayment or a foreclosure, and Bajaj Finance does not pay interest on advance EMI amounts.
How do you pay an overdue EMI?
An EMI is overdue when you have not paid it by the due date or your bank has returned the scheduled debit. After step 4 above, select the overdue EMI option and check the total overdue amount. It may include the missed EMI, a bounce charge if your bank returned the debit, penal charges under your loan agreement and applicable taxes. Then select a payment mode and click Pay now. Paying only part of the amount leaves dues outstanding. Missed EMIs may block your Insta EMI Card until the dues are cleared, and an unpaid overdue amount may be reported to credit bureaus, depending on the delay and your loan terms. Under the RBI circular Fair Lending Practice – Penal Charges in Loan Accounts (18 August 2023), regulated lenders must levy a penalty for not meeting material loan terms as a penal charge, not as extra interest on your rate, and cannot charge further interest on penal charges. These charges must be disclosed in your loan agreement. If you cannot pay in full, contact Bajaj Finance before your next due date.
Which consumer durable loan repayment option should you choose?
| Repayment option | When to use it | What to remember |
|---|---|---|
| Scheduled EMI | Your monthly instalment is due. | Check the due date and whether your registered bank account is debited automatically. |
| Advance EMI | You want to pay an upcoming instalment early. | It covers a future instalment and does not reduce your principal like a part-prepayment. |
| Overdue EMI | You have missed an instalment. | Check the total overdue amount and any charges before paying. |
| Foreclosure | You want to close the loan before the end of the tenure. | Check the foreclosure amount and terms first. See the foreclosure charges and process guides. |
Paying only part of an overdue amount may leave dues outstanding, so choose the option that matches your loan status.
What should you check after paying your EMI?
A bank debit alone does not confirm that your loan account has recorded the payment. After you pay:
- check your bank account for the debit and its status.
- check your loan account for the payment entry and the outstanding amount.
- keep the receipt and transaction reference until the payment appears.
If the money was debited but your loan account does not show it, contact Bajaj Finance through an official support channel with your transaction details.
Essential Bajaj Finance Service Guides & Support
Frequently Asked Questions
EMI Repayment
Overdue & Penalties
What should you do if your registered mobile number is no longer active?
If your registered mobile number is no longer active, you may be unable to receive the OTP required to sign in to My Account. Contact Bajaj Finance through an authorised support channel to understand how to update your registered mobile number and complete the necessary verification before accessing your loan details.
What happens if you have multiple consumer durable loans?
If you have financed multiple purchases, each purchase may have a separate loan account with its own repayment schedule and outstanding amount. Review each account individually before making a payment. Confirm the loan reference, EMI amount and due date to ensure that you apply the payment to the intended loan account.
What should you do if your consumer durable loan does not appear in My Account?
First, check that you have signed in using the registered mobile number associated with the loan. If the loan still does not appear, contact Bajaj Finance through an authorised support channel and provide the relevant loan details. Ask the support team to help you identify the account and access the available repayment information.
What should you do if your consumer durable loan payment fails online?
Check whether your bank account was debited and review the transaction status before attempting another payment. If the amount was debited, retain the transaction reference and contact Bajaj Finance through an authorised support channel for clarification. If no debit occurred, check the payment instructions and available options before trying again.
How should you handle a payment made to the wrong consumer durable loan account?
Review the transaction confirmation to identify the loan account against which you made the payment. Contact Bajaj Finance through an authorised support channel, explain the error and share the transaction reference. Ask the support team to review the payment and explain the available resolution options. Keep the confirmation and related correspondence for your records.
What should you do if your consumer durable loan account shows an unexpected outstanding amount?
Compare the outstanding amount with your latest loan statement, payment history and repayment schedule. Check whether any recent payment has been recorded and review any listed dues or charges. If the amount remains unexplained, contact Bajaj Finance through an authorised support channel and request a breakdown of the outstanding balance.
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