Equitas SFB - Microfinance Loan Loan Repayment

Meeting loan repayment obligations is essential to attain financial stability. That's where Shriram Finance steps in, offering a seamless platform for managing your financial responsibilities through BBPS services.

About Equitas SFB Microfinance

Equitas Small Finance Bank (SFB) Microfinance is a prominent small finance bank in India, offering diverse financial services to micro-entrepreneurs and individuals who often lack access to traditional banking. They provide various types of loans, such as business loans, microloans, and personal loans.

How to Pay My Equitas SFB Microfinance Loan Repayment on Shriram Finance?

Pay Equitas SFB Microfinance loan EMIs online on Shriram Finance by using this step-by-step guide:

1. Visit the Shriram Finance website.
2. Navigate to the main menu and click on "Payments," then opt for "BBPS."
3. Under "Financial Services & Tax" category select "Loan Repayment."
4. Select "Equitas SFB Microfinance" - Enter the loan number and click on "Proceed.”
5. Verify the mobile number and click "Continue."
6. Enter the 6-digit OTP and click "Verify and Continue."
7. Review your Equitas SFB Microfinance loan EMI Payment details and click on "Pay."
8. Choose a preferred payment method, enter the required details, and complete the payment.

Why Choose Shriram Finance Equitas for SFB Microfinance Loan Repayment?

Choosing Shriram Finance for Equitas SFB Microfinance loan repayment offers several benefits:

1. Convenience: Shriram Finance provides a user-friendly and convenient Equitas SFB Microfinance loan repayment platform.
2. Quick and Easy: The application process is streamlined, ensuring a quick and hassle-free Equitas SFB Microfinance loan repayment experience.
3. Access to Multiple Services: Shriram Finance provides additional financial services or products in one place.

How to Download My Equitas SFB Microfinance Loan EMI Payment Receipts?

Shriram Finance offers two convenient options for Equitas SFB Microfinance statement download online:

1. New Users: After completing your Equitas SFB Microfinance loan repayment, click the 'Download Receipt' button.
2. Existing Users: If you are already a registered user, login to your Shriram Finance Customer Portal, go to your profile, and then access 'Transaction History.' From there, you can easily select the 'Download Receipt' option.

Benefits of Using Shriram Finance for Equitas SFB Microfinance Loan Repayment

When it comes to Equitas SFB Microfinance Loan Payments, using Shriram Finance as your platform offers several significant benefits:

1. Security: Shriram Finance prioritises the security of your financial transactions, ensuring that your Equitas SFB Microfinance EMI payment online is processed safely and securely.
2. User-Friendly Interface: The platform offers a user-friendly interface, making it easy to navigate and complete your EMI payments conveniently.
3. All-in-One Platform: Shriram Finance may provide access to various financial services in one place.
4. Timely Reminders: You can expect timely reminders to pay Equitas SFB Microfinance Loan EMIs online before the due dates.

How to Check My Equitas SFB Microfinance Loan Repayment History?

Shriram Finance offers two convenient options to check your Equitas SFB Microfinance loan repayment history:

New Users:

a) After completing your Equitas SFB Microfinance loan repayment, click the 'View Transaction History' button.

b) Sign up using your name, mobile number, email address, and mPIN.

c) You will be redirected to the Shriram Finance Customer Portal.

d) Go to your profile and click 'Transaction History' to check your Equitas SFB Microfinance loan repayment history.

Existing Users: If you are already a registered user, login to your Shriram Finance Customer Portal, go to your profile, and then access 'Transaction History' to check your Equitas SFB Microfinance loan repayment history.

List of Payment Methods Available for Equitas SFB Microfinance Loan Repayment on Shriram Finance

Shriram Finance offers convenient online payment options, including debit cards, net banking and much more. For added flexibility, you can also raise collect requests.

What If My Equitas SFB Microfinance Loan Repayment Fails?

Here's what you can do if your loan repayment fails:

Contact the service provider: If your loan repayment fails, promptly call the service provider or the bank to inquire about the issue and explore possible resolution options.

Raise the request: If your Equitas SFB Microfinance loan repayment fails after completing the transaction, you can raise a request from the same page using the 'Raise a Request' link in the receipt.

Alternatively,

• If you are an existing user, login to your Shriram Finance Customer Portal, visit the 'My Profile' section, and then 'Raise a Request'.
• If you are a new user, sign up using your name, mobile number, email ID, and mPIN. Then, visit the 'My Profile' section to 'Raise a Request'.
• Suppose you want to raise a request for a specific transaction. In that case, you can navigate to 'Transaction History' and choose the particular transaction, click on the 'Need Help' button to provide the necessary failure details and click 'Submit'.

Customer Support: Reach out to our customer support team for assistance, as they can guide you through the troubleshooting process and help you resolve any billing issues you encounter.

What Happens If I Don't Make My Equitas SFB Microfinance Loan Repayment on Time?

Failing to pay your Equitas SFB Microfinance loan EMI on time can result in the addition of late fees on your existing EMI. Moreover, late or missed payments are reported to credit bureaus, negatively impacting your credit score. A lower credit score can make it more challenging to secure instant loans or credit when you apply online in the future and may result in higher interest rates on any credit you obtain.

You may incur late payment charges, based on the specific terms and conditions of Equitas SFB Microfinance.

In extreme cases where a significant amount remains unpaid for an extended period, Equitas SFB Microfinance might, at its discretion, initiate legal proceedings.

How to Check My Equitas SFB Microfinance Loan Repayment Status on Shriram Finance?

Shriram Finance offers two convenient options to check your Equitas SFB Microfinance repayment status:

New Users:

a) Click the "View Transaction History" button after completing your Equitas SFB Microfinance loan EMI payment.

b) Register using your name, mobile number, email address, and mPIN.

c) You will be redirected to the Shriram Finance Customer Portal.

d) Visit your profile, select "Transaction History," and check the status of your most recent Equitas SFB Microfinance loan repayment.

Existing Users: If you have already signed up, login to the Shriram Finance Customer Portal, select your profile, and then access "Transaction History" to see the status of your most recent Equitas SFB Microfinance online loan EMI payment.

Know the Types of Loans Provided by Equitas SFB Microfinance

Equitas SFB Microfinance offers various types of loans, including:

1. Microfinance Loans: Tailored for micro-entrepreneurs and small businesses, these loans provide financial support for starting or expanding their ventures.
2. Gold Loans: Secured by gold jewellery, these loans offer quick liquidity and competitive interest rates to meet urgent financial needs.
3. Business Loans: Designed to support business growth, these loans are available for working capital, inventory purchase, equipment financing, and business expansion.
4. Personal Loans: These loans cater to salaried individuals and self-employed professionals, offering funds for various purposes, including debt consolidation, home improvement, and medical expenses.
5. Home Loans: Whether purchasing a new home, renovating an existing one or constructing a dream home, Equitas SFB Microfinance's home loans make it possible.

How to Calculate Equitas SFB Microfinance Loan Repayments?

To calculate Equitas SFB Microfinance loan repayments online, follow these steps:

1. Access Equitas SFB Microfinance's website or app.
2. Enter the loan EMI amount.
3. Choose the repayment tenure.
4. Input the interest rate.
5. Equitas SFB Microfinance will provide you with the EMI (Equated Monthly Instalment) amount.
6. Equitas SFB Microfinance loan prepayment online EMI calculation can also be used for a quick estimate.

Ensure you meet the eligibility criteria before being a loan applicant.

What Happens If I Miss an EMI Payment on My Loan?

Missing an Equitas SFB Microfinance loan repayment can have various consequences:

1. Late Payment Fee: When you don't make an EMI payment on time, the bank will add a late fee, which is extra money on your regular EMI.
2. Credit Score Impact: Your credit score shows your trustworthiness with credit. Missing payments can lower your score, making it more challenging to get credit cards, loan numbers, or mortgages later.
3. Legal Consequences: If you keep missing payments and become a chronic defaulter, the bank might take legal action against you.
4. Added Interest: Not paying your EMI doesn't stop the interest from piling up.
5. Future Loan Challenges: Missed payments can damage your credit and make it harder to get loans in the future. If you do get approved, they come with higher interest rates.

Download Shriram One Now

Experience the ultimate convenience of managing all your bills, recharges, and bookings on the go! Download the 'Shriram One' App from the Play Store and App Store, and simplify your life with hassle-free payments at your fingertips.