Bajaj Finance offers microfinance group loans to women from low-income groups so that they can manage their small or big business expenses easily. When you avail of a microfinance loan, you repay the borrowed sum through monthly instalments spread over a specified time period.
An instalment or EMI (equated monthly instalment) is the portion of the loan that you repay each month. Your EMIs are calculated at the start of the loan period, and the payment is automatically deducted from your bank account monthly.
However, in addition to paying your usual EMIs, you have other payment choices that allow you to manage your debt faster. Our customer portal – My Account, provides various payment choices and allows you to repay your loan in an easy online process.
Here are two additional ways to help you manage your loan repayments easily
- Advance EMIs
If you're worried about missing your EMI due date or having problems with your mandate, you can choose the advance EMI option. This ensures that your EMI is paid on time, avoiding penalties and a negative influence on your credit score.
- Overdue EMI payments
In the uncommon event of a technical malfunction or a lack of funds in your account, your EMI may be unpaid, resulting in an overdue EMI. If you've missed a loan payment, it's critical that you make it up as soon as possible. If you have any outstanding EMIs with Bajaj Finance, you may quickly clear them by going to My Account.
If you want to make payments on your loan account, you can do so by following these simple steps:
- Click on the ‘Sign-in’ button on this page to go to our customer portal.
- Enter your registered mobile number and the OTP to sign-in.
- Verify your details by entering your date of birth and proceed.
- Select the loan account for which you want to make the payment.
- Choose your preferred payment method from the list of options.
- Enter the amount and review the applicable charges, if any.
- Once you enter all the required details, proceed to make the payment.
You can also use our digital services on the go by downloading our app from the Play Store/ App Store.
