How to Repay Your Loan Against Securities Online

Timely repayment of your Loan Against Securities helps you meet your agreed repayment obligation and manage the outstanding amount effectively. Making the required payments on time can help prevent the account from becoming overdue and reduce the possibility of applicable charges arising from delayed repayment. Regular repayment also helps you progress towards closing the loan. Once all applicable dues are cleared and the required closure process is completed, the pledged securities may be released according to the applicable terms. Delayed or non-payment may have further consequences under the loan agreement, including action relating to the pledged securities, where applicable. Before making a repayment, check your loan account for the current outstanding amount, applicable charges and available payment options. Using an authorised repayment channel and keeping the payment confirmation helps you track the transaction and address any discrepancy if the payment is not reflected as expected.

What repayment options are available for a Loan Against Securities?

Loan Against Securities repayment can include regular interest payments, missed payment clearance, part-prepayment or full repayment, depending on the loan arrangement. Bajaj Finance says borrowers can use the Service Portal to clear a missed interest payment or make a part prepayment. Your repayment requirement depends on your loan structure. For a Loan Against Securities, the monthly instalment may comprise interest, while the principal can be payable according to the applicable loan terms. Interest is charged on the utilised or outstanding loan amount, not the entire sanctioned limit.

The main online payment options include:

• Missed interest payment: Clear an instalment that was not paid by its due date.
• Part-prepayment: Pay a portion of the outstanding loan amount.
• Full repayment or foreclosure: Clear the applicable outstanding amount to close the loan before its scheduled end, where available.
• Margin shortfall payment: Pay the required amount to regularise a margin shortfall, subject to the applicable loan terms.

Before making a repayment, review your Loan Against Securities account to confirm the amount due and choose the option that matches your requirement. Depending on your loan arrangement, this may include clearing a missed interest payment, making a part prepayment, addressing a margin shortfall, or repaying the applicable amount in full. Retain the payment confirmation after completing the payment and check the applicable closure requirements for full repayment.

You can manage and repay your Loan Against Securities through Bajaj Finance's digital servicing options. Before making a payment, check your loan account for the outstanding amount, payment status and applicable options.

Through My Account

1. Open the Bajaj Finance Service Portal or My Account.
2. Sign in using your registered mobile number and OTP.
3. Complete the required verification, where prompted.
4. Go to the 'Service' section.
5. Select your Loan Against Securities account under 'Relations’.
6. Click ‘Make loan payments’.
7. Select the applicable payment type, such as a missed interest payment or part-prepayment.
8. Enter the required payment details and review the amount.
9. Proceed through the secured payment gateway to complete the payment.
10. Retain the payment confirmation or transaction reference for your records.

Through the Bajaj Finance App

1. Open the Bajaj Finance App and sign in using your registered mobile number and OTP.
2. Go to the relevant loan or service section.
3. Select your Loan Against Securities account.
4. Open the available payment option for the loan.
5. Select the applicable payment type, where available.
6. Enter the required details and review the amount payable.
7. Complete the payment through the available secured payment option.
8. Save the payment confirmation for future reference.

The exact options displayed in the App may vary depending on the loan account and available services. For LAS, Bajaj Finance specifically confirms online options for missed interest payments and part-prepayments through its service portal. If you are making a part-prepayment or full repayment to close the loan, check the applicable outstanding amount and closure requirements before proceeding. Once the required dues are cleared and the loan closure process is completed, you can follow the applicable process for release of pledged securities.

What happens if the value of pledged securities falls?

A fall in the value of pledged securities can create a margin shortfall if the loan outstanding exceeds the eligible loan limit under the applicable loan terms. In that case, the borrower may need to repay the shortfall or provide additional acceptable collateral. A margin shortfall is important because a Loan Against Securities is secured against pledged investments. If the shortfall is not regularised within the period and manner specified by the lender, the lender may have the right under the loan agreement to sell pledged securities to recover outstanding dues.

If you receive a margin-related communication:

• Loan outstanding: Review the current amount outstanding on your Loan Against Securities.
• Pledged securities: Check the current value of the securities pledged against the loan.
• Drawing power: Confirm the eligible borrowing limit based on the applicable securities and loan terms.
• Shortfall amount: Check the amount required to regularise the margin shortfall.
• Additional securities: Provide acceptable securities if this option is permitted under the applicable terms.
• Response timeline: Take the required action within the period specified in the communication.

If a margin shortfall arises, review the amount required and take the applicable action within the specified timeframe. Depending on the loan terms, you may need to make a payment or provide additional acceptable securities to restore the required margin. Check your loan account and any communications you receive for the exact requirement. Addressing the shortfall promptly can help you manage the secured loan and reduce the possibility of further action under the applicable terms.

What happens after you fully repay your Loan Against Securities?

After you fully repay your Loan Against Securities, the loan account must be processed for closure, and the pledged securities can be released once the applicable requirements are met. Repayment alone may not complete every closure or securities-release step, so verify the account status and follow the available process. Before considering the process complete, confirm that you have paid the required outstanding amount and that the payment has been successfully credited. Check that any applicable margin shortfall has been regularised and retain the repayment confirmation or final account statement. You should also complete the applicable securities-release process, where required. Bajaj Finance provides an online Release Securities facility for eligible accounts. Current service guidance states that securities can be released through an online request when the applicable conditions are met, including the account not being under a margin shortfall and having the required surplus available. Check your account for the exact requirements before submitting a release request.