KYC update available for all loan account holders
Updated KYC = uninterrupted EMI alerts and loan services
*KYC update subject to document verification. T&C apply.
Keeping your KYC details current is essential for smooth, uninterrupted access to your Bajaj Finance loan account. Whether you have moved to a new address, renewed an identity document, or changed your contact details, you can complete this update entirely online, through the website, the app, or DigiLocker.
Why keeping KYC updated is critical for uninterrupted loan servicing
What happens when KYC is outdated or incomplete
Outdated KYC details can quietly affect several things you rely on. This includes restricted access to certain services, EMI reminders not reaching you if your contact details have changed, and overdue notices going unnoticed. In some cases, this can inadvertently lead an account towards default, simply because important communications never reached you. Keeping your KYC current helps prevent this from happening.
How KYC compliance protects you from overdue EMI situations
Timely EMI reminders depend on Bajaj Finance having your correct, updated mobile number, email, and address on file. If these details are outdated, you may miss a reminder before your due date, which can lead to an unintended overdue payment. Keeping your KYC updated ensures you receive these notifications and have the chance to act before an EMI becomes overdue.
How to update your KYC details online in simple steps
Updating KYC via the Bajaj Finance website
You can update your KYC through the Bajaj Finance website in a few steps. Log in to My Account using your registered mobile number and OTP, go to your profile, and select the KYC update option. Choose the document you wish to update, such as your Aadhaar or PAN, upload a clear scanned copy, and submit your request. It will then be sent for verification.
Updating KYC via the Bajaj Finance app
The app offers the same process on the go. Open the Bajaj Finance app and log in with your registered mobile number and OTP. Go to your profile section and select KYC update. You can choose to verify using DigiLocker for a quicker, paperless process, or upload your documents manually. Once submitted, you will receive a confirmation once verification is complete.
Documents accepted for KYC update
| Document | Can be used for |
|---|---|
| PAN card | Identity verification |
| Aadhaar card | Identity and address proof |
| Passport | Identity and address proof |
| Voter ID card | Identity and address proof |
| Driving licence | Identity and address proof |
The specific document required may depend on which detail you are updating, such as your identity or your address.
E-KYC, Aadhaar KYC, and CKYC: what is the difference
These terms often come up together, but they mean different things:
- E-KYC is the broader digital verification process, using electronic methods instead of physical paperwork
- Aadhaar KYC is a specific type of e-KYC that uses your Aadhaar number along with OTP or biometric authentication
- CKYC, or Central KYC, is a government-managed system where your verified KYC details are stored centrally and can be shared across banks, NBFCs, and other financial institutions, so you do not need to repeat the process for every new financial service
Understanding these differences can help you choose the quickest, most convenient way to complete your KYC update.
Using DigiLocker for a faster KYC update
DigiLocker is a government platform for storing and sharing verified digital documents, and it can make your KYC update significantly faster. On the Bajaj Finance app or website, select the DigiLocker option, sign in using your Aadhaar-registered mobile number, and follow the prompts to verify and confirm your details. Since your documents are already digitally verified, this method is often quicker than uploading scanned copies manually and reduces the chance of errors during submission.
What to do if your KYC update fails or is delayed
If your KYC update does not go through smoothly, a few common issues could be the cause:
- Documents may be unclear, expired, or not fully visible in the uploaded copy
- Your name may not match exactly across the documents submitted
- There may be a mismatch between the details entered and your existing records
If you notice any of these issues, correct them and resubmit your request. If the delay continues beyond the usual timeframe, contact Bajaj Finance customer care for assistance.
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Frequently Asked Questions
KYC Update Process
KYC & Loan Services
DigiLocker & CKYC
How do I update my KYC details online with Bajaj Finserv?
Log in to My Account or the Bajaj Finance app using your registered mobile number and OTP. Go to the KYC section, upload the required documents, such as Aadhaar and PAN, fill in your details, and submit the request for verification.
What documents are required to update KYC online?
You typically need a PAN card for identity verification, along with Aadhaar, passport, voter ID, or driving licence as identity and address proof. The exact documents required may vary depending on which specific detail you are updating.
How long does the online KYC update process take?
Verification is usually completed within a couple of business days after you submit your documents. Once processed, you receive a confirmation SMS on your registered mobile number. Timelines may vary slightly depending on document clarity and verification checks.
Can I update my KYC details using Aadhaar on the Bajaj Finserv App?
Yes, Aadhaar is widely accepted for e-KYC on the Bajaj Finance app. You can verify your identity using Aadhaar-based OTP authentication, or link your Aadhaar through DigiLocker for a faster, paperless update process.
What is the difference between e-KYC and physical KYC?
E-KYC is a digital, paperless process that verifies your identity electronically, often using Aadhaar-based OTP or biometric authentication. Physical KYC involves submitting original or self-attested paper documents in person or by post for manual verification.
Why is my KYC update required for loan servicing?
KYC compliance is a regulatory requirement in India and helps verify your identity to prevent fraud. Keeping your KYC updated also ensures Bajaj Finance can reach you with important loan-related communications and provide uninterrupted access to your services.
Will outdated KYC affect my EMI notifications?
Yes, if your registered mobile number or email linked to your KYC is outdated, you may not receive timely EMI reminders or notifications. Keeping your KYC and contact details current helps ensure you stay informed about upcoming payments.
Can I still pay EMI if my KYC is pending?
In most cases, you can continue paying your EMI even if a KYC update is pending, since your existing loan account remains active. However, some services may be temporarily restricted until your KYC verification is completed.
What services are restricted when KYC is not updated?
Outdated or incomplete KYC may restrict services such as loan disbursal, certain account features, or full access to My Account. Keeping your KYC current helps you avoid delays or interruptions when you need to use these services.
Will an overdue EMI affect my KYC verification status?
No, an overdue EMI and your KYC verification status are generally handled separately. However, if outdated KYC means you miss important reminders, this could indirectly contribute to a missed payment, so it is best to keep both updated.
What is CKYC and how does it benefit me?
CKYC, or Central KYC, is a government-managed system where your verified KYC details are stored centrally and can be shared across banks, NBFCs, and other financial institutions. This means you do not need to repeat KYC submissions for every new financial service.
Can I use DigiLocker documents for KYC update?
Yes, DigiLocker is supported for KYC updates. You can link your Aadhaar and other documents through DigiLocker for a quicker, paperless verification process through My Account or the Bajaj Finance app.
What is e-KYC and how is it different from Aadhaar KYC?
E-KYC refers to the broader digital verification process, which can use various documents. Aadhaar KYC is a specific type of e-KYC that uses your Aadhaar number and OTP or biometric authentication to verify your identity electronically.
How do I link my Aadhaar with Bajaj Finserv for KYC?
Log in to My Account or the app, go to the KYC section, and select the Aadhaar or DigiLocker option. Verify using your Aadhaar-registered mobile number and OTP to complete the linking and verification process.
Is DigiLocker KYC accepted by Bajaj Finance for all loan types?
DigiLocker-based KYC is generally accepted for most Bajaj Finance products, though specific requirements can vary by loan type. Check with Bajaj Finance or within My Account to confirm what applies to your particular loan.
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