Foreclose your loan in My Account - Bajaj Finserv customer portal (2024)

FAQs

Foreclose your loan in My Account - Bajaj Finserv customer portal? ›

You can sign-in to 'My Account', select your loan account, click on the 'Foreclosure' option, and proceed with payment. If you have surplus funds, you can pay off your outstanding loan amount in one instalment. This will help you save on interest and ease your financial burden.

You need to visit your nearest Axis Bank branch, as it cannot be done online. Fill out and submit the application form along with the required documents. The bank verifies documents and calculates the outstanding loan amount with applicable taxes and foreclosure charges for Personal Loan.

Usually, you have to complete at least 6 - 12 months of EMI payments before you have the option to foreclose the loan. Once you have paid the minimum number of EMIs required, you can request your lender for loan foreclosure.

Bajaj Finance allows you to foreclose your loan at any point after you've paid your first EMI. One of the primary factors to consider before foreclosing your loan is the foreclosure charges imposed by the lender.

Repay your entire loan amount in advance

You can foreclose any of your loans in My Account by following these simple steps: Sign-in to our customer portal with date of birth, mobile number and OTP. Select the loan account you want to foreclose. Choose 'Foreclosure' from the payment options available.

To sum up, I am writing this letter to inform you that I wish to foreclose the loan. Moreover, my loan ID is xxxxx and I opted for (no. of EMIs) EMIs. Therefore, I am willing to pay ______ (Amount)in a single installment and foreclose the loan.

Bajaj Finserv charges a nominal fee of 4.72% (inclusive of applicable taxes) on the outstanding loan amount on the day of prepayment. This is known as a foreclosure fee. You can login into My Account - Bajaj Finance customer portal to pay personal loan foreclosure charges.

Personal loans cannot be pre-closed online, therefore you are required to find the nearest bank branch, where you can pre-close your loan. You can call the bank's customer care number to find the branch next to you.

Is it good to foreclose a personal loan? ›

The pre-closure facility reduces your debt burden; hence it would be a good option for your financial health. No impact on your credit score: Foreclosure or pre-closure of the Personal Loan does not affect your credit score.

If you have missed any of your loan EMIs, you can clear them in a few simple steps by visiting our customer portal. All you have to do is sign-in to My Account, choose the 'Missed or Overdue EMI' option, and proceed with payment.

To opt for a moratorium on your personal loan from Bajaj Finance, you should raise a request for the same at least 7 days before your EMI due date. There are two easy ways in which you can raise a request.

If you have an ongoing Bajaj Finance Personal Loan and wish to close it early, you can download the closure letter by visiting our customer portal. Follow these simple steps to download your personal loan closure letter. Go to our customer portal – My Account on our website.

Make An Extra Payment, why? You can add an extra payment every year to close the loan faster. If your EMI is Rs 10,000, you could shell out an extra Rs 10,000 during the year. If you cannot pay the extra in one go, you could spread this payment evenly over the entire year.

The EMI scheme can be pre-closed by calling the 24-hour HDFC Bank Credit Cards customer service. 'Preclosure Interest charges' (as applicable) will apply. In case of preclosure, any payback offered by the merchant at the time of loan booking will be debited on a pro-rata basis.

You can sign-in to 'My Account', select your loan account, click on the 'Foreclosure' option, and proceed with payment. If you have surplus funds, you can pay off your outstanding loan amount in one instalment. This will help you save on interest and ease your financial burden.

Yes, one can foreclose a Consumer Durable Loan taken from TVS Credit. Foreclosure allows borrowers to pay off their loan before the original tenure ends.

Bajaj Finserv charges a nominal fee of 4.72% (inclusive of applicable taxes) on the outstanding loan amount on the day of prepayment. This is known as a foreclosure fee.

Click on 'Credit Card': Once you are logged in, click on the 'credit card' tab to access information related to your credit card. 3. Request cancellation: Next, click on the 'Request Cancellation' button available on the screen.