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A personal Loan is known to solve all your financial problems for the time being. But later on, when all the uncertainties have been met, paying interest or EMI for the personal loan causes a hole in the pocket of every individual. Therefore it is always advisable to close one’s personal loan as early as possible.
How to Close Bajaj Finserv Personal Loan through Creditseva
Closing a personal loan is sometimes a lengthy process. The simplicity of the process of a personal loan closure depends on the bank that has provided us with a personal loan. The longer the loan tenure, the shorter are your savings. So it is a good decision to close your personal loan as quickly as you can. While closing your personal loan, you might require some help or advice. This help will be extended to you by Creditseva- your financial companion. Creditseva will help you get direct offers to close bad loans on the real-time basis. You can also make payments directly to banks to close bad loans, to improve transparency and reduce cash handling frauds.
Procedure to Pre-Close the Bajaj Finserv Flexi Personal Loan
- In a Personal Flexi Loan, it is allowed that a borrower pre-closes up to any amount. There are no charges applicable for this.
- You can make the through RTGS to the Bajaj Finserv Ltd. bank account (unique) that has been allocated in your name.
Bajaj Finserv Personal Loan Closure FAQs:
1. What is loan foreclosure?
Foreclosure of a loan implies the complete repayment of the amount that is remaining. This remaining amount is paid out in a single payment rather than paying EMIs.
2. How do I use the foreclosure calculator?
Basically, it is a simple process to use the foreclosure calculator, provided you follow the steps given below. You need to enter the details that have been given below
- Enter the loan tenure
- Mention the interest rate
- Specify the total EMIs you have paid till now
- Fill in the month you are planning to get the foreclosure done
3. How and when can the foreclosure be done?
You can do the foreclosure by visiting the nearest branch of Bajaj Finserv. The foreclosure can be done after the payment of first EMI.
4. When is the CIBIL Report updated after closing the Bajaj Finserv Personal loan?
The CIBIL Report gets updated by Bajaj Finserv by 18th of the following month. You can send a mail to the bank’s email id: email@example.com if you need any clarifications.
5. When are the original documents received after the foreclosure of the loan is done?
You will receive your original documents within a span of 1 month after foreclosing the loan.
6. What is the impact on my CIBIL Score if I foreclose my loan?
If you foreclose your personal loan, there will be no impact on your CIBIL score. After foreclosure of a loan, the bank reports CIBIL that the respective loan has been closed and there are no more dues that are pending dues.
7. How will receive the foreclosure letter for my Bajaj Finserv Personal Loan?
The foreclosure letter should be downloaded from the customer portal named Experia. You can also write an email to this email id: firstname.lastname@example.org
8. Are there any penalty charges for a personal loan foreclosure?
You will be charged 4% on the principal amount that is outstanding for the foreclosure.
9. What are the charges for foreclosure of Flexi Loan?
The foreclosure charges for Flexi loans are calculated on the amount that has been disbursed.
10. What is the amount of interest that has been saved on foreclosure?
It has been usually seen that most banks charge 1% -5% as foreclosure charges. But, Bajaj Finserv does not charge for any prepayment for foreclosure. You will be paid back your entire amounts without deducting any amount as fees or penalty.
11. What is the procedure of part-prepayment at Bajaj Finserv?
Bajaj Finserv Ltd provides the borrowers with an account number that is unique. By using this, you can make part prepayments by your net banking account.
Personal Loan Closure by Banks
- How to Close Personal Loan
- Axis Bank Personal Loan Closure
- Andhra Bank Personal Loan Closure
- HDFC Bank Personal Loan Closure
- ICICI Bank Personal Loan Closure
- SBI Personal Loan Closure
- Citibank Personal Loan Closure
- Bank of Baroda Personal Loan Closure
- Capital First Personal Loan Closure
- Allahabad Bank Personal Loan Closure
- Fullerton Personal Loan Closure
- IDBI Bank Personal Loan Closure
- IndusInd Bank Personal Loan Closure
- Standard Chartered Bank Personal Loan Closure
- Tata Capital Personal Loan Closure
- Union Bank Personal Loan Closure
- Bajaj Finserv Personal Loan Closure
- Kotak Bank Personal Loan Closure
- Yes Bank Personal Loan Closure
- SBH Personal Loan Closure
- HSBC Personal Loan Closure
- Oriental Bank Personal Loan Closure
- RBL Bank Personal Loan Closure
- PNB Personal Loan Closure
- J&K Bank Personal Loan Closure
- IOB Personal Loan Closure
- Karur Vysya Bank Personal Loan Closure