Last Updated on March 8, 2024 by admin
Effective personal loan management requires access to specific details, which a loan statement can provide. The document entails the entire loan repayment record of an individual. Besides, it also contains necessary details regarding the principal amount, outstanding principal, EMIs and the repayment tenor.
That said, the Bajaj Finserv Loan Statement is one of the most important documents pertaining to a personal loan availed from the financial institution. Without this statement, one might lose track of the repayments, leading to financial hassles.
Ways to download Bajaj Finserv Personal Loan Statement
Downloading the personal loan statement periodically helps individuals stay updated with their debt and facilitates better financial planning.
Nonetheless, accessing this statement is extremely convenient in the following ways:
My Account
One can get their personal loan statement through the dedicated customer portal of Bajaj Finserv. Follow these basic steps to download this document at ease:
Step 1: Visit the customer portal and log in using customer ID and password, or OTP
Step 2: Go to ‘Services’
Step 3: Under loan type, click on ‘View Details’
Step 4: Choose the e-statements header
Step 5: Download the loan statement
Bajaj Finserv app
One can also download the Bajaj Finserv Loan Statement through the app by following these simple steps:
Step 1: Download the mobile application
Step 2: Log in using the required credentials
Step 3: Select the particular loan account and then click on e-statement to obtain it
Following the steps mentioned above, one would be able to download their loan statement and plan their personal loan repayment better.
Details available in the Bajaj Finserv Loan Statement
Following are the details mentioned in this statement that can help one manage their personal loan EMI repayment efficiency:
Interest rate
Borrowers can see the applicable rate on interest through this document. This comes in handy when one has opted for an instant personal loan for salaried or self-employed individuals at a floating interest rate. However, one can skip this if their credit bears a fixed interest rate.
Outstanding loan balance
This document also reflects the pending loan amount from the borrower’s end. As the repayment tenor goes by, this outstanding balance tends to decrease, as witnessed through the amortisation schedule. Thus, borrowers can download this statement and verify their payment records.
Repayment status
This statement provides comprehensive detail regarding the EMI payments. Consequently, individuals can obtain reports of previous EMI payments and the upcoming due dates to avoid defaulting on their loans. Resultantly, this would save them from paying penalties.
Benefits of Bajaj Finserv Loan Statement
This document offers a host of benefits, including:
Fruitful financial planning
Since a document like this entails crucial information regarding a loan account, access to it can assist individuals in knowing more about loan repayment. One can plan their finances and reset the repayment terms as per their financial ability. Additionally, individuals can also choose to foreclose or part-prepay their loan accounts upon viewing the details available on this document.
Easy access
Another benefit of this document is that individuals can access it from anywhere, anytime. The availability of the customer portal allows individuals to keep track of their loan repayment online.
Keep track of payments
Besides being readily available and helping individuals plan their finances, this document enables one to keep track of their payments. One can conveniently track the money paid towards personal loan interest and principal components through a personal loan statement.
Additionally, this statement can also be beneficial when an individual opts for loan refinancing, as it provides the necessary details regarding the outstanding loan amount.
Besides existing borrowers of a personal loan, individuals who are planning to obtain this credit option can also look at the benefits of the Bajaj Finserv Personal Loan Statement before they apply for a personal loan.
However, before applying for a personal loan, one must remember to draw a thorough comparison between different lenders. Many leading financial institutions in the country like Bajaj Finserv extend attractive and personalised pre-approved offers to existing customers.
These offers help in streamlining and simplifying the loan application procedure. Further, they are available across various financial instruments, like personal loans and business loans. You can easily check your pre-approved offer by entering your contact details and name. A Bajaj Finserv Loan Statement is a handy document that helps an individual know all the crucial details regarding their loan account. Moreover, with online services, attaining this has become hassle-free.
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