Are you curious about how to keep track of your remaining EMI in Bajaj Finance? Look no further! In this comprehensive guide, we will walk you through everything you need to know on checking your outstanding EMIs with Bajaj Finance. Say goodbye to the stress and uncertainty of tracking your payments – get ready to take control of your finances like never before. So, let’s dive right in and discover the secrets to easily and efficiently check the remaining EMI in Bajaj Finance!
Introduction to Bajaj Finance
Bajaj Finance is one of the leading NBFCs in India that offers a wide range of financial products and services to its customers. One of the popular products offered by Bajaj Finance is loans. Bajaj Finance Loans can be used for various purposes such as home loan, car loan, personal loan, etc. You can check your remaining EMI easily by logging into the customer portal of Bajaj Finance.
In this article, we will provide you a step-by-step guide on how to check your remaining EMI online in Bajaj Finance customer portal.
- Step 1: Login to https://customer.bajajfinserv.in/ with your registered mobile number and password
- Step 2: Click on the ‘My Accounts’ tab present on the top menu bar
- Step 3: Click on ‘Loans’ from the drop-down menu that appears
- Step 4: Select ‘EMI Calculator’ from the options listed on the screen
- Step 5: Enter your Loan Account Number or Customer ID in the required field and click on ‘Proceed’ button
- Step 6: The next page will display your remaining EMI details along with other important information related to your loan account
Understanding Different Types of EMI
When it comes to EMIs, there are two types that you need to be aware of – fixed rate EMIs and floating rate EMIs. As the name suggests, in a fixed rate EMI, the interest rate remains constant throughout the tenure of the loan. In contrast, a floating rate EMI entails an interest rate that can fluctuate over time, in line with changes in the RBI’s repo rate.
Assuming you have a Bajaj Finance home loan with a principal amount of Rs 30 lakh and an interest rate of 8.35%, your monthly EMI outgo would be Rs 25,262 for a tenure of 20 years. If RBI were to cut the repo rate by 25 basis points (0.25%), then your revised monthly EMI would become Rs 25,000 (assuming that Bajaj Finance passes on the benefit of lower rates to its customers).
While a repo rate cut results in lower EMIs for all home loan borrowers (irrespective of whether they have a fixed or floating rate), if you have a fixed rate home loan, your EMI will remain unchanged for the entire tenure. On the other hand, if you have a floating rate home loan, your monthly EMIs will get reduced immediately after RBI cuts the repo rates.
Benefits of Checking Remaining EMI in Bajaj Finance
When you check your remaining EMI in Bajaj Finance, you can get a clear picture of your current financial situation. This way, you can easily make necessary adjustments to your budget and ensure that you are on track to meet your financial goals. Moreover, checking your remaining EMI also help you be aware of any potential late payments or default fees.
How to Check Remaining EMI in Bajaj Finance?
To begin with, customers can check their remaining EMI by logging into the customer portal on the official website of Bajaj Finance. The second method is via SMS, for which customers need to send an SMS to the registered mobile number in the format- STATUS 9 digit loan account number. For example, if your loan account number is 1234567890, then you will have to type STATUS 1234567890 and send it to 9773633633. Another way to check your outstanding EMI is by giving a missed call on the toll-free number 1800 103 3535 from your registered mobile number.
FAQs about Checking Remaining EMI in Bajaj Finance
Based on your query, we have listed a few FAQs that will help you understand the process of checking your remaining EMI in Bajaj Finance:
1. How can I check my remaining EMI in Bajaj Finance?
To check your remaining EMI in Bajaj Finance, you can log into your account on the official website and navigate to the ‘My Accounts’ section. Here, you will be able to view all your current and past transactions, including information on your remaining EMI.
2. What other information can I view under the ‘My Accounts’ section?
In addition to checking your remaining EMI, you can also view your account balance, statement of account, and amortization schedule under the ‘My Accounts’ section. This will give you a complete overview of your loan repayment progress.
3. I am not able to log into my account on the official website. What should I do?
If you are facing login issues, we recommend that you contact the customer care team of Bajaj Finance for assistance. They will be able to guide you through the process and help resolve any login issues that you may be facing.
Conclusion
There you have it – a comprehensive guide on how to check your remaining EMI in Bajaj Finance. We hope this was helpful and that you can now easily manage your finances with the help of this tool. When you’re ready to make payments, be sure to use the secure website and app provided by Bajaj Finance, as they offer excellent customer service and provide valuable support throughout any payment journey.