Equitas Small Finance Bank - Retail Loan Repayment

Shriram Finance streamlines loan processes and provides an integrated platform through the Bharat Bill Payment System (BBPS) for easy and secure bill payments.

About Equitas Small Finance Bank

Equitas Small Finance Bank is a small finance bank founded in 2016 as a microfinance lender. Located in Chennai, the bank is a subsidiary of Equitas Holdings Ltd. Equitas Small Finance Bank. A new-age bank in one of the fastest-growing economies, it offers a variety of products and services for its customers

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

Here is a step-by-step guide to make quick and easy payments for Equitas SFB Retail Loan EMIs online with Shriram Finance:

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 Retail" - 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 Retail 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 for Equitas SFB Retail Loan Repayment?

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

1. Convenience: Shriram Finance provides a user-friendly and convenient platform for Equitas SFB Retail loan repayment, making it easy to manage your financial obligations.
2. Quick and Easy: The application process is streamlined, ensuring a quick and hassle-free Equitas SFB Retail loan repayment experience.
3. Access to Multiple Services: Shriram Finance offers additional financial services or products, allowing you to access various financial solutions conveniently in one place.

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

Shriram Finance offers two convenient options to download your Equitas SFB Retail loan statement online:

1. New Users: After completing your loan payment, 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 Retail Loan Repayment

When it comes to Equitas SFB Retail Loan Payment, 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 Retail 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 provides access to various financial services in one place.
4. Timely Reminders: You can expect timely reminders to Pay Equitas SFB Retail Loan EMIs online before the due dates.

How to Check My Equitas SFB Retail Loan Repayment History?

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

New Users:

a) After completing your Equitas SFB Retail Loan Repayment, click the 'View Transaction History' button.

b) Sign up using your name, mobile number, email ID, 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 Retail 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 Retail loan repayment history.

List of Payment Methods Available for Equitas SFB Retail 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 Retail 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 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 If I Don't Pay My Equitas SFB Retail Loan Repayment on Time?

Failing to pay your Equitas SFB Retail 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 Retail.

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

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

Shriram Finance offers two convenient options to check your Equitas SFB Retail Loan Repayment Status:

New Users:

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

Know the Types of Loans Provided by Equitas SFB Retail

Equitas SFB Retail offers various types of loans, including:

1. Personal Loans: Equitas Personal Loans can be used for various purposes, such as debt consolidation, home improvement, medical expenses, or educational costs.
2. Gold Loans: Equitas Gold Loans are secured by gold jewellery and can be used for various purposes, such as debt consolidation, business expansion, or emergency expenses.
3. Home Loans: Equitas Home Loans can be used to purchase a new home, construct a home, or renovate an existing home.
4. Business Loans: Equitas Business Loans can be used to start or expand a business, purchase equipment, or meet working capital needs.
5. Two-Wheeler Loans: Equitas Two-Wheeler Loans can be used to purchase a new or used scooter or motorcycle.

How to Calculate Equitas SFB Retail Loan Repayments?

To calculate Equitas SFB Retail Loan Repayments online, follow these steps:

1. Access Equitas SFB’s website or app.
2. Enter the loan EMI amount.
3. Choose the loan tenure.
4. Input the interest rate.
5. Equitas SFB will provide you with the EMI (Equated Monthly Instalment) amount.
6. You can also use Equitas SFB Retail loan prepayment online EMI calculator 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 Retail 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: 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. Unpaid interest grows, meaning you will owe more in the long term.
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.

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