Loan Repayment
Online EMI Payment – Pay Loan EMI easily with PayYouBill
The loan sector has expanded significantly in the past two decades, offering a variety of options from business and property loans to car and appliance financing. Loans are crucial during financial crises, but failing to repay them on time can harm your credit score. To help with timely payments, PayYouBill offers fast and easy online EMI payment options for various loan providers.
Supported Loan Providers on PayYouBill
- Home Credit EMI Payment
- Bajaj Finserv Online Payment
- TVS Credit
- Muthoot Microfin Limited
- L&T Financial Services
- IIFL Finance Limited
- Axis Bank Limited – Retail Loan
- DMI Finance Private Limited
- Ujjivan Small Finance Bank
- ZestMoney
How to Make a Loan EMI Payment on PayYouBill
Whether it’s a car loan, home loan, gold loan, or instant loan, paying your EMI via PayYouBill is quick and simple. No need for cheques, bank visits, or queues. Follow these steps for online loan EMI payment:
- Select Loan Repayment under the New Payments section on the PayYouBill app.
- Choose your Loan Provider.
- Enter your Loan Number.
- Enter the EMI amount to repay.
- Select your preferred payment mode (Net-Banking, Debit Card, Credit Card, PayYouBill Balance) and complete your payment instantly.
PayYouBill also offers monthly payment reminders to ensure you never miss a due date.
Frequently Asked Questions on Online Loan EMI Payment
How to Calculate Loan EMI?
To calculate your EMI, use online EMI calculators available on various websites. Input your loan details to get instant results.
What is Loan Repayment?
Loan repayment is the process of paying back borrowed money to the lender over an agreed period through EMIs.
How to Repay the Loan Faster?
To speed up loan repayment, consider these tips:
- Make part-payments when possible.
- Opt for a bigger down payment.
- Choose a shorter repayment period.
- Foreclose your loan if you have sufficient funds.
What Happens if a Borrower Fails to Repay the Loan?
Failure to repay can result in penalties, legal action, or loss of collateral. Additionally, it will negatively impact the borrower’s credit score.