The moratorium under COVID-19 regulatory relief package has ended on August 31, 2020.
Please note that with effect from September 2020 onwards, your EMI presentations would be done as per schedule. Kindly maintain balances in your bank account/ pay your EMIs on time to avoid levy of additional interest, late payment charges etc. In addition, we would continue to report the defaults to CIBIL and other bureaus and this may affect your credit scores in future.
Post Moratorium FAQs
Q1. Will my loan EMI now be debited regularly as Moratorium period is over?
- The regular debits of EMI will start from September 2020, as per the normal schedule applicable your loan So please maintain sufficient balance in your bank account.
Q2. After the lifting of moratorium, can I pay my entire amount of EMIs?
- Yes, you can do Partial Foreclosure & even foreclosure of your loan. Partial foreclosure will help the customer toreduce his Interest amount, Tenure and Principal loan amount.
For making online payments Click here
Q3. Can I foreclose the loan now that the moratorium is lifted?
- Yes, you can foreclose the loan.
Q4. I hold auto loan and have availed of the moratorium. After the lifting of moratorium my EMI amount has not changed, but my loan payment tenor has increased. Why?
- As per the terms of moratorium announced, the unpaid EMIs along with the accrued interest have been added to balance outstanding and the loan tenor has been extended accordingly keeping your EMI as constant.
Q5. The increase in tenor resulted in increase in amount that I will be paying back to Bajaj Finance Ltd on my loan which seems to be more in comparison to Moratorium interest. How is the increase in EMI tenor calculated?
- The unpaid EMIs along with the accrued interest have been added to balance outstanding. Hence the additional amount is the accrued interest on the unpaid EMI which you have to pay at the end of the loan tenor.
Q6. How do I get the revised Repayment schedule?
- You can login to our website or mobile app and download the revised repayment schedule. You can also download via WhatsApp (Go to WhatsApp & type ‘Hi’ and send to 9607200770 from your registered mobile number)
Q7. I wish to cancel moratorium; how can I place the request?
- The moratorium period is already over on 31st August. It cannot be cancelled now, however, you can do Partial Foreclosure or complete foreclosure of your loan. Partial foreclosure will help you to reduce overall Interest amount, Tenure.
For making online payments Click here
Q8. Will there be any impact on my credit score for availing the loan moratorium?
- Credit scores are given by Credit bureaus like CIBIL, Experian, etc basis their rules and logic and not by Bajaj Finance Ltd. We would request you to clear your EMI and dues on time. If you notice any change in score, please approach the credit bureau.
Q9. I had requested for Moratorium however the same has not been updated. Neither have I received any communication from the Bank.
- Moratorium has been processed for all eligible customers as per the regulatory conditions. If moratorium has not been processed, then your application did not meet the requirements for moratorium.
Q10. Can I apply for Moratorium now as was not able to apply before?
- Moratorium application requests were to be made before 31st August 2020. We are not accepting moratorium requests anymore.
Pay Overdue EMI Online:
Make your payments of you Bajaj Auto Finance Loan payment in 3 simple steps.
- Provide your Loan number (Don’t know loan number-Give a missed call on 9717752222 from your registered mobile Number)
- Confirm payment details & make payment
- Receive online confirmation
For making online payments Click here
Repayment through E NACH & E Mandate
The NACH e-Mandate system facilitates hassle free registration of Standing Instruction
- The NACH e-Mandate system facilitates hassle free registration
- Timely EMI Repayment
https://www.bajajautofinance.com/EmandateAadhar/mandate
Have a question? Chat with BRO on https://www.bajajautofinance.com/
Go to WhatsApp & type ‘Hi’ and send to 9607200770 from your registered mobile number
