Bajaj Finance customer portal offers you easy access to all the documents related to your ongoing loan. A statement of account (SOA) is one of the most important documents. It comes in handy to manage the repayment of your ongoing loan – whether secured or unsecured.
What is a loan account statement?
Your statement of account is a detailed summary of all the transactions related to your loan account. It includes details like loan amount, tenure, total EMIs paid, related fees and charges, part-prepayment details and more.
Every time your loan EMI is debited from your bank account, or you make any additional payment, your loan account statement gets updated. This document helps you to stay updated with all your loan-related transactions and report if there’s any error.
Things you can track with your statement of account
- Check loan details such as loan amount, rate of interest, loan disbursal date, tenure, outstanding loan amount and more.
- Find the details of the number of EMIs paid. You can also check the interest and principal components of your EMI.
- Track details of your part-prepayment or advance EMI payment.
- View applicable charges such as processing fees, annual maintenance fees, or more.
If you have an ongoing loan with Bajaj Finance, loan statement can be easily downloaded by visiting the customer portal.
Our digital customer portal has a dedicated ‘Document Centre’ section that provides easy access to all loan-related documents. This online process reduces the hassles of branch visits. You can download the loan account statement and related documents such as repayment schedule, loan agreement and more.
Follow these simple steps to download your loan statement and other documents:
- Click on the ‘Sign-in’ option given below to visit Bajaj Finance customer portal.
- Enter your registered mobile number and an OTP to sign-in.
- Verify your details with your date of birth and proceed.
- Select the loan account from ‘Document Centre’.
- Find all your documents and click on ‘Statement of Account’ to download it.
Our customer portal also offers self-service options like making payments, updating mandate, checking pre-approved offers and more.
What is loan repayment schedule?
A loan repayment schedule is a structured plan that outlines the repayment process of a loan over its tenure. It details the specific amounts of principal and interest that need to be paid in each instalment, ensuring the borrower knows exactly how much they owe and when. Typically presented as a table or chart, the schedule includes each instalment's due date, the payment amount, and the balance remaining after each payment.
The schedule is often created based on the loan's terms, including the interest rate, tenure, and repayment frequency. For fixed-rate loans, the amount paid each month remains consistent, while for variable-rate loans, the payment may fluctuate based on interest rate changes.
A key aspect of the loan repayment schedule is the amortisation process. This process divides each payment into two parts: one portion goes towards reducing the loan's principal, while the other covers the interest. Over time, a greater portion of each payment is applied to the principal as the interest charges decrease.
The repayment schedule offers transparency, allowing borrowers to plan their finances more effectively and avoid late payments, which could lead to penalties or additional interest. It also assists in understanding the total cost of the loan and how making extra payments or early repayments could reduce interest costs, thereby shortening the loan tenure. This schedule is crucial for personal loans, mortgages, and other long-term credit facilities.
How to Download Loan Repayment Schedule?
Downloading your loan repayment schedule with Bajaj Finserv is a simple and efficient process, ensuring that you stay on top of your repayment plan. The schedule helps you track your EMIs (Equated Monthly Instalments), principal, interest, and outstanding loan balance throughout the tenure. Here’s how you can easily access and download it:
- Log into the Bajaj Finserv Customer Portal
Start by visiting the Bajaj Finserv customer portal or using the Bajaj Finserv app. You will need to log in with your registered mobile number, email ID, or customer ID. Once logged in, enter the One-Time Password (OTP) sent to your mobile number for verification. - Navigate to Loan Details
After successful login, head to the 'My Relations' section where all your active loans are listed. Select the specific loan for which you want to download the repayment schedule. - Access the Repayment Schedule
Once you have selected the loan, click on ‘Loan Details’ to view all relevant information. Here, you will find an option labelled 'Repayment Schedule' or 'EMI Schedule'. This will display a detailed breakdown of each EMI, showing how much of the payment goes towards interest and principal. - Download the Schedule
Click the ‘Download’ button available next to the repayment schedule option. The document will be downloaded in PDF format, which you can save on your device or print for your records.
The Bajaj Finserv portal ensures that customers have round-the-clock access to their financial data, making it convenient to track loan repayments and better manage personal finances. If needed, customers can also request physical copies through customer service.
