Consumer Durable Loan Details

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Questions and Answers

What is the interest rate type for this loan?

  • Simple
  • Variable
  • Fixed (correct)
  • Adjustable

What is the product type associated with this loan?

  • Consumer Durable (correct)
  • Home Loan
  • Personal Loan
  • Business Loan

What is the total loan amount?

  • $16,000.00
  • $14,000.00 (correct)
  • $12,000.00
  • $10,000.00

What is the loan status as of March 3, 2025?

<p>Active (C)</p> Signup and view all the answers

What is the interest rate per annum for this loan?

<p>15.6% (D)</p> Signup and view all the answers

Flashcards

Outstanding Loan Amount

The total amount needed to pay off the loan, including both principal and interest.

Rate of Interest

The percentage charged on top of the principal loan for borrowing the money.

Loan Tenure

The number of months allocated to repay the loan.

Instalment Amount

Regular, scheduled payments to repay a debt, including principal and interest.

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Loan Creation Date

Date the loan agreement was established.

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Study Notes

Customer Details

  • Customer ID: 166643978
  • Name: Manjeet Narayan
  • Current Residence Address: Located in Fazilka, Punjab, India 152123
  • Registered Mobile Number: 81xxxxxx49
  • Registered Email ID: [email protected]
  • Branch: Fazilka
  • Number of Active Loans: 3
  • Product Type: Consumer Durable
  • Repayment Bank A/c Details: Bank of Maharashtra, Xxxxxxx9639
  • Dealer/Merchant Name: ESS Kumar Steel, FURNITURE#FAZILKA#DR37103#CD
  • Linked Loan Account Number: Not applicable (NA)

Loan Account Details

  • Loan Amount: ₹14,000.00
  • Rate of Interest Per Annum: 15.6%
  • Interest Rate Type: Fixed
  • Loan Tenure: 12 Months
  • Revised/Net Tenure: 10 Months
  • Total Loan Amount Repaid: ₹7,422.00
  • First Instalment Amount: ₹1,463.00 (including one-time periodic charges)
  • Instalment Amount (2nd Onwards): ₹1,237.00
  • Loan Creation Date: August 29, 2024
  • Interest Start Date: August 29, 2024
  • First Instalment Due Date: October 2, 2024
  • Last Instalment Due Date: July 2, 2025
  • Interest Paid By Manufacturer/Dealer Upfront: ₹0
  • Processing Fees/Upfront Charges: As per Agreement
  • Upfront Interest From Customer: ₹0.00
  • Total Outstanding Amount: ₹4,784.00
  • Outstanding Loan Amount (Principal + Interest): ₹4,938.00
  • Future Principal Component: ₹4,784.00
  • Future Interest Component: ₹154.00
  • Future Instalment Number: 4 Months
  • Upfront Instalment Amount Received as Down Payment (Total amount / number of Instalments): ₹2,474.00 / 2
  • Loan Status: Active
  • Loan Closure Date: Not applicable (NA)
  • Note: Total Outstanding Amount includes Principal + Overdue + Charges

Instalment Summary (as of March 3, 2025)

  • Paid Instalment: ₹7,422.00
  • Overdue Instalment: ₹0.00
  • Future Instalment: ₹4,938.00

Loan Financial Summary (as of March 3, 2025)

  • Instalment Amount: ₹7,422.00
  • Principal Component: ₹6,742.00
  • Interest Component: ₹680.00
  • Bounce Charges: ₹0.00
  • Other Receivables: ₹226.00
  • Other Payables: ₹0.00
  • Unadjusted Amount: ₹0.00
  • Current Due: ₹0.00

Loan Transaction Details (as of March 3, 2025)

  • August 29, 2024: Credit Tracking Report - Due, Debit ₹77.00, Balance ₹77.00
  • August 29, 2024: Convenience Fees - 1ST EMI - Due Debit ₹149.00, Balance ₹226.00
  • October 2, 2024: Due for Installment 1, Debit ₹1,237.00, Balance ₹1,463.00
  • October 2, 2024: Amount Received for Instalment, Credit ₹1,463.00, Balance ₹0.00 Cleared
  • November 2, 2024: Due for Installment 2, Debit ₹1,237.00, Balance ₹1,237.00
  • November 2, 2024: Amount Received for Instalment, Credit ₹1,237.00, Balance ₹0.00 Cleared
  • December 2, 2024: Due for Installment 3, Debit ₹1,237.00, Balance ₹1,237.00
  • December 2, 2024: Amount Received for Instalment, Credit ₹1,237.00, Balance ₹0.00 Cleared
  • January 2, 2025: Due for Installment 4, Debit ₹1,237.00, Balance ₹1,237.00
  • January 2, 2025: Amount Received for Instalment, Credit ₹1,237.00, Balance ₹0.00 Cleared
  • February 2, 2025: Due for Installment 5, Debit ₹1,237.00, Balance ₹1,237.00
  • February 2, 2025: Amount Received for Instalment, Credit ₹1,237.00, Balance ₹0.00 Cleared
  • March 2, 2025: Due for Installment 6, Debit ₹1,237.00, Balance ₹1,237.00
  • March 2, 2025: Amount Received for Instalment, Credit ₹1,237.00, Balance ₹0.00
  • Total Debits: ₹7,648.00
  • Total Credits: ₹7,648.00

Bajaj Finance Limited Details

Important Notes

  • All values are as per Bajaj Finance Limited's records on the date of generating the Statement of Account (SOA).
  • Instalments or Equated Periodic Instalments (EPIs) refer to the amount payable at monthly rests, comprising of the principal loan amount and/or applicable interest.
  • Delay in payment of instalment(s) attracts penal charges of ₹3 per day per instalment from the due date until the full amount is received.
  • Levied charges include applicable taxes.
  • Interest start date aligns with the loan disbursal date.
  • Statements can be downloaded, payments made, and contact details updated via the Bajaj Finserv App, or by logging onto the My Account Customer Portal.

Disclaimer

  • The Statement of Account (SOA) is system-generated and requires no signature.
  • Discrepancies should be reported to the nearest Bajaj Finance Branch Office or via the website.
  • The Borrower can access the SOA via the website, "Bajaj Finserv App," or specific request to BFL. Clarification on any entry should be sought within 10 business days, or the Borrower waives the right to object/dispute later. The SOA is binding on the Borrower.

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