The personal or account information you furnish to the lender lets them and you keep track of each other. In other words, in case of grievance you may contact the lender and request for timely resolution and the lender can reach you in case of any miscommunication. Though it sounds too simple, a usual step of updating your details on time helps to bridge the communication gap and saves you of unfortunate circumstances.
So, let’s understand the process of updating Bajaj Finserv with your new account or personal details.
The process –
You can change your bank account details with Bajaj Finserv by visiting them in person. Their representative will provide you a form to fill up with the new details.
Usually, it takes 15 working days to get the process completed. For instance, if your EMI due date is 14th of the month and you request change of account before this date. The new EMI will be deducted from the 14th of next month from the new account. These details take 15 days to get updated on your account. Moreover, if the process shows a delay you could always contact your financial institution as the transfer process takes 15 days and sometimes depend on the discretion of the bank.
Why is this process needed?
There are many reasons why you must not neglect this process as it –
- Helps you stay updated with information on new policies.
- Gets you information of new offers floated from time to time.
- Gets you timely reminders of repayments due.
- Informs you of funds available in your card and when to replenish them.
Failure to update information of your residence or office could land you into trouble of getting your card blocked. This, we can agree, will be an unfavourable situation as you would have to withhold your shopping or turn to alternative methods which may be time consuming. In addition, the card could remain blocked until these details are updated to the lender.
It is also important to note that you can receive instant updates and resolutions on your queries via the customer portal if your details are properly logged in. As the right details will help the representatives to get back to you faster and offer you customized solutions for any query or suggestion.
Once updated, ideally you can login to your Bajaj Experia account to check these details along with usual information on loan such as EMI due date, amount repaid, amount to be paid, and much more.
Besides, it is a given that you may use your card at different locations, to buy various items. You are notified of all these transactions on a timely basis and thus it becomes mandatory for you as a customer to keep the lender informed where such sensitive information is to be directed to i.e., to which email id or mobile number. So, you can keep track of your shopping expenses and use your card wisely.
Process safety
You may sometimes find it hard to take out time from your busy schedule to update your details to the lender. But this is an important step as it saves you from unwanted miscommunication and fraud.
When you walk up to Bajaj Finserv you fill the form and even provide alternate details such as phone number, email id etc. so that your mailers reach just you or someone you know. This will save you from unwanted delays and fraud in the long run.
There may be times when you may need your loan documents, interest certificate to share at other places of financial importance; therefore, without a doubt you must provide clear details to the lender.
