Most Important Terms and Conditions

By entering the one-time password (“OTP”), sent by Bajaj Finance Limited (“BFL”), I am expressing my interest in availing loan facility from BFL. I hereby confirm that I (i) am at least 18 years of age, (ii) can understand, read and access the world wide web / internet in English language, (iii) have read, understood and agree to be bound by these most important terms and conditions (“MITC”)

Further, I agree that my action of submission of the OTP sent by BFL, constitutes a valid acceptance by me of the MITC contained herein and which shall have binding effect on me.

Customer unconditionally acknowledge and accept that:

1. The Loan is granted for buying products and services or any other general purpose except for any speculative activities. The amount will be disbursed to company/entity who is providing the products/services for which the loan is being availed to buy such products/services.
2. BFL may at its sole and absolute discretion, without assigning any reasons, accept or reject the Loan request.
3. The loan availed shall be governed by Master Terms and Conditions, prescribed by Bajaj Finance Limited (“BFL”) and available on website: https://www.bajajfinserv.in/master-terms-and-conditions.pdf?clgProductId=313381972
   Customer authorizes BFL to use the existing KYC details and customer acknowledge that in case of any changes in registered KYC, same needs to be updated to BFL.
4. The loan is to be repaid in Equated Monthly Installments(“EMI”) on or before due date, over the tenure of the loan. The liability to the BFL will be extinguished only when the outstanding in the loan account becomes nil.
5. I understand that BFL is granting/has granted the loan at zero percent interest, since the relative interest is being paid by the manufacturer and/or dealer to BFL on the said product for the initial period (original tenor) of loan. In case the tenor of said loan is extended for whatever reasons including due to my request for moratorium, I shall pay the interest at the rate of 24% per annum on the revised equated monthly instalments due and payable by me, as may be communicated by BFL.
6. I shall make payment of the applicable fee and/or charges, as specified herein by BFL with respect to loan availed through EMI Network Card and as more specifically detailed, below and such updated fees and charges on BFL’s website https://www.bajajfinserv.in/all-fees-and-charges-new#ec:
7. In case of cancelation and surrender of insurance policy/value added services/extended warranty availed on loan from BFL and/or on death of the customer, BFL shall have the right to appropriate insurance claim paid thereunder or pursuant to cancellation or the surrender value of the insurance policy/value added services/extended warranty towards the Outstanding Dues of any loan(s) availed from BFL. If there is any surplus leftover, it shall be paid to the Customer. If there is any deficit, then the Customer shall be liable to pay entire deficit forthwith.
8. The NACH mandate given by Customer in favour of BFL can be used to recover all Outstanding Amount including fees, penalties, cost and other applicable charges in connection with any Loan availed by the Customer from BFL. Customer shall forthwith issue fresh Cheque or NACH or Electronic Payment Instructions to BFL, if there is any revision in the repayment schedule/ EMI by BFL.
9. The EMI of the loan availed can be clubbed with EMI of other loan availed by customer from BFL or the same can be debited from customers account separately.
10. I hereby expressly consent for paying a Loan Enhancement Fee, in case where BFL allows to approve the Loan transaction amount over and above my EMI Card loan limit, as per its internal risk/credit policies and at its sole and absolute discretion. It is hereby clarified that payment of such fee would not enhance my overall EMI card loan limit. Further I agree that payment of such fee would be added to the first EMI/monthly instalment of my Loan transaction.
11. That in case of occurrence of default by reason of dishonour of Cheque or NACH or Electronic Payment Instructions provided, Customer shall be liable to pay to BFL the bounce charges ("Bounce Charges") as mentioned in Annexure I, for each dishonour event occurrence.
12. In the event of any default in repayment of the Outstanding Amount, Customer shall be liable to pay penal interest ("Penal Interest") at the rate/or amount as stated below in Annexure I, from the date of default till the date of realization by BFL without prejudice to any other rights of BFL under these MITC.
13. BFL shall be authorized (a) to disclose, obtain, exchange, share or part with all information from time to time relating to loan to credit bureaus/credit reference agencies, its group companies, financial institutions, Credit Information Companies (‘CIC’), Central KYC Registry (CERSAI) or any authorized third-party agency as BFL may deem necessary or appropriate for use or processing of the said information and shall not hold BFL or any of its group companies or its/ their agents/representatives) liable for use/sharing of the information as stated above, (b) to seek/obtain any other information, relating to customer, from any third party, (c) To procure/avail CIBIL report and provide it to customer by deducting applicable charges for the same and (d) share the all information to any Regulator, Court, Law enforcement agency, Quasi-Judicial authority etc. on a need to need basis
14. BFL and its group companies, affiliates and/or business associates and their respective representatives are authorized to send communications regarding loans, insurance and third-party products and services, availed by customer, through telephone calls/SMSs/emails/post/WhatsApp etc. including but not limited to promotional communications.
15. BFL is not an issuer/provider of the products purchased/services availed by the Customer on the loan availed from BFL. Accordingly, BFL shall not be responsible for the quality or any assurances and/or representations made in relation to such products/services provided by third parties. BFL shall not be liable for any delay in delivery or no delivery of product and/or with respect to the quantity, quality, conditions, fitness, suitability or otherwise whatsoever of the product.
16. I have made a request to BFL to grant the loan and BFL has considered my loan application favourably basis my creditworthiness even during the current lockdown period. Accordingly, I declare that I have stable income and financial stability to discharge my loan liability from time to time and hence, I shall not make any application to BFL requesting for moratorium. Even if I make such an application, BFL has to right to reject the same without any further reference to me and I shall never question and/or contest the same before the Regulators and/or court