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Contributor‘Simplify Finance for Everyone.’ This is the common goal of our team, as we try to explain any topic with relatable examples. From personal to business finance, managing EMIs to becoming debt-free, we do extensive research on each and every parameter, so you don’t have to. Scroll up and have a look at what 15+ years of experience in the BFSI sector looks like.
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Bajaj Finance Limited is one of India's largest non-banking financial companies (NBFCs), It offers a wide range of financial products, including personal loans, business loans, home loans, and consumer durable loans. Bajaj Finance, known for its speedy loan approvals, flexible repayment options, and clear loan statements, ensures that consumers can simply manage their obligations.
The Bajaj Finance Loan Statement, which provides a detailed summary of your loan journey, is one of the most useful products the company provides.
Rajesh, a young businessman from Pune, acquired a ₹10,000,000 business loan from Bajaj Finance for 4 years (48 months) at an annual interest rate of 12%. He wanted to know how much of his EMIs went towards principal repayment versus interest six months into his loan term.
Rajesh saw the following after examining his loan statement:
Loan Details | Values |
Total Loan Amount | ₹10,00,000 |
Tenure | 4 years (48 months) |
Interest Rate in % | 12% per annum |
Monthly EMI | ₹26,633 |
Total EMIs Paid for 6 months | ₹1,59,798 (₹26,633 × 6) |
Principal Paid So Far | ₹60,000 |
Interest Paid So Far | ₹99,798 |
Outstanding Loan Amount | ₹8,90,000 |
Next EMI Due Date | 5th of next month |
Prepayment Option | ₹50,000 prepayment saves ₹15,000 in interest |
This one document gave Rajesh a clear picture of his remaining loan balance, interest payments, and future EMI commitments, allowing him to create an early repayment strategy.
Why Is Your Bajaj Finance Loan Statement Important?
Your loan statement is an effective financial instrument that offers:
Components of a Loan Statement
Here’s a well-structured table to help understand the components of a Bajaj Finance Loan Statement clearly:
Component | Description | Example |
Loan Account Details | Includes the loan number, kind of loan, and lender information. | Loan No: BF123456789, Business Loan, Bajaj Finance Ltd. |
Borrower Details | Includes the borrower’s name, address, and contact information |
The table above clearly outlines what you'll find in a Bajaj Finance loan Statement, making it easier to track and manage the loans you have effectively.
Managing your loan properly necessitates regular review of loan statements. Whether you need it for financial planning, tax purposes, or simply to follow your repayment progress, Bajaj Finance provides several handy methods to obtain your loan statement. In this comprehensive tutorial, we'll walk you through all of the various techniques, including specific procedures and real-life examples from Rajesh, who recently acquired his loan statement through these means.
Read More – How to Download Shriram Finance Loan Statement
Before we go into the how-to, let's explain why keeping track of your loan statement is so important:
1. Via Net Banking
Steps:
For example, Rajesh needed his loan statement to file his taxes. He entered into his net banking account, accessed his personal loan information, and downloaded the statement in PDF format in minutes.
2. Through the Mobile Banking App
Steps:
For example, when travelling, Rajesh recalled that he needed his loan information. He promptly opened the Bajaj Finserv app on his smartphone and accessed his entire loan statement on the spot.
3. Visit a bank or NBFC branch.
Steps:
For example, Rajesh wanted physical copies of his records. He went to his local Bajaj Finance branch with his loan information and ID verification, and he received a printed statement instantly.
4. Via Customer Care Request
Steps:
Example- When Rajesh was unable to access his online account, he simply called customer service, verified his information, and received his statement by email the same day.
5. Through Email/SMS Services
Steps:
For example, Rajesh sent a simple SMS with his loan information and received his comprehensive statement immediately on his registered mobile number.
Accessing your loan statement is easy with Bajaj Finance. Here's a simple instruction to help you download it using several methods.
Option A: Visit a Bajaj Finance Branch
Request Type | Delivery Method | Charges Applicable | Additional Notes |
Digital Statement | Net Banking/Mobile App | Free | Instant access |
Note:
Section | Key Details | What It Tells You | Why It's Important |
Account Information | - Loan account number - Loan type - Sanction date - Disbursed amount | Basic loan identification and terms |
EMI Breakdown
- EMI amount
- Principal vs interest split
- Total EMIs paid/pending
How is your monthly payment allocated
Shows repayment progress and interest costs
Outstanding Balance
- Current principal due
- Accrued interest
- Total payable
Name: Rajesh Sharma Address: Pune, Maharashtra Contact: 9876543210 |
Loan Summary | Provides important details about the loan, such as the sanctioned amount, interest rate, and tenure. | Principal: ₹10,00,000 Interest Rate: 12% per annum Tenure: 4 years (48 months) |
Repayment Schedule | Displays the EMI breakdown, amount owing, and payment dates. | EMI: ₹26,633 per month Next Due Date: 5th of next month |
Outstanding Balance & Prepayment Details | Shows the remaining loan balance and prepayment alternatives. | Outstanding Balance: ₹8,90,000 Prepayment of ₹50,000 saves ₹15,000 interest |
Email/SMS Statement
Electronic Delivery |
Free |
Send a request from the registered email or mobile number. |
First Physical Copy | Branch Pickup | Free (usually) | ID proof required |
Duplicate Statements | Branch/Courier | ₹50-₹100 per copy | Fees may vary according to the loan kind. |
Certified Statements | Physical (Stamped) | ₹100-₹250 | Includes official stamp |
Historical Statements | Digital/Physical | Possible charges | For records beyond 1 year |
Courier Delivery | Physical Dispatch | ₹100-₹200 | In addition to statement fees |
Ensures you're viewing the correct loan details.
*T&C Apply
Remaining loan obligation |
Helps arrange prepayments or closures. |
Transaction History
- Payment dates
- Amounts paid
- Payment modes
- Any adjustments
Complete payment record
Ensures that all payments are accurately credited.
Interest Details
- Applicable interest rate
- Interest paid (current FY)
- Interest calculation method
Cost of borrowing
Important for tax planning and cost analysis
Charges/Fees
- Late payment fees
- Bounce charges
- Prepayment penalties
Additional costs incurred
Helps to avoid unwanted costs.
Prepayment Options
- Foreclosure amount
- Partial prepayment terms
- Associated charges
Early repayment possibilities
Useful for minimising the interest burden.
Tax Information
- 80C eligible amount
- Section 24 deductions
- FY-wise totals
Potential tax benefits
Helps optimise tax savings.
Issue | Possible Cause | Solution | Contact Method |
Statement Not Received | - Email/SMS not updated - Technical glitch | - Check spam/junk folder - Update contact details via app/customer care | Customer Care: +918698010101 |
Incorrect EMI Amount | - Interest rate change - Processing error | - Compare with the loan agreement - Request recalculation | Branch Visit or Email: loanservicing@bajajfinserv.in |
Missing Payment Record | - Delay in processing - Bank transaction failure | - Share the bank payment proof - Wait 24-48 hours for the update | Net Banking > Raise Query |
Wrong Interest Calculation | - Floating rate adjustment - Principal mismatch | - Verify principal reduction - Check interest rate terms | Customer Care or App Chat |
Unauthorised Charges | - Late fee - Prepayment penalty | - Confirm due dates/prepayment terms - Dispute via email | Email with statement screenshot |
Cannot download Statement | - App/net banking issue - Account blocked | - Clear cache/reinstall app - Reset password | Tech Support: 1800-103-3322 |
Old Loan Still Appearing | - Closure not updated - System lag | - Share foreclosure proof - Request account closure confirmation | Branch Visit with documents |
The Bajaj Finance loan statement is your financial roadmap, outlining each EMI, interest charge, and outstanding balance. Understanding its components, such as the principal/interest split, transaction history, and prepayment alternatives, allows you to acquire control over loan management. Regular assessments assure accuracy, identify savings possibilities, and preserve good credit health.
Digital access is more convenient, yet physical copies serve as crucial records. Any irregularities should be reported immediately to customer service (1800-102-3322) or in person at a branch. Staying informed through your statement changes you from a borrower to a smart financial manager, maximising repayments and benefits.
How can I download my loan statement offline?
Visit any Bajaj Finance branch with your loan account details and ID proof to request a physical copy.
Are there extra charges for urgent statement requests?
Standard requests are free, but rush delivery via courier may incur ₹100-200 charges.
When will my recent payment reflect in the statement?
Payments take 24-48 hours to process before appearing in your updated statement.
What if my statement shows an EMI bounce?
Check your bank account for insufficient funds and pay any penalty charges immediately.
Can I get statements for a closed loan account?
Yes, closed account statements are available for up to 7 years upon request.
Where can I find foreclosure details in my statement?
The "Loan Closure" section shows your final settlement amount and any applicable charges.
Why does my statement show two different interest rates?
This occurs if your loan has both fixed and floating rate components.
How do I change my statement delivery method?
Update your preference in the app under 'Profile Settings' > 'Communication Preferences'.
What should I do if my statement has missing transactions?
Submit your payment proofs via email to loanservicing@bajajfinserv.in for reconciliation.
How can I use my statement to improve my credit score?
Regular, timely payments reflected in your statement positively impact your credit history.
Where can I find the GST breakdown in charges?
All applicable taxes are itemised separately in the "Fees and Charges" section.
Why does my statement show a future due date?
This indicates your next upcoming EMI payment for planning.
How do I verify if my prepayment was adjusted correctly?
Check both the "Principal Outstanding" reduction and the next EMI due date adjustment.
Bank Statement Pages | |||
