ESAF Small Finance Bank (Retails Loans) Loan Repayment

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

About ESAF Small Finance Bank

ESAF Small Finance Bank is a scheduled bank regulated by the Reserve Bank of India (RBI). It offers a wide range of financial products and services to retail customers, including savings and current accounts, deposits, loans, and investments. ESAF SFB Retail is committed to providing its customers with a best-in-class banking experience, with a focus on convenience, affordability, and customer service.

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

To pay ESAF SFB Retail Loan EMI online, follow 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 "ESAF SFB Retail" - Enter the loan number and click on "Proceed.”
5. Verify if the mobile number is correct and click "Continue."
6. Enter the 6-digit OTP and click "Verify and Continue."
7. Review your ESAF 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 ESAF SFB Retail Loan Repayment?

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

1. Convenience: Shriram Finance provides a user-friendly and convenient platform for ESAF SFB Retail loan repayment, making it easy to manage your financial obligations.
2. Quick and Easy: The process is streamlined, ensuring a quick and hassle-free ESAF SFB loan repayment experience.
3. Access to Multiple Services: Shriram Finance offers additional financial services or products, allowing you to access various financial solutions in one place.
4. Reward Points: Some Shriram Finance programs offer reward points or loyalty benefits, providing you with incentives for responsible financial management.

How to Download My ESAF SFB Retail Loan Repayment Receipt?

Shriram Finance offers two convenient options to download your loan EMI payment:

1. New Users: After completing your ESAF SFB Retail loan repayment, click the 'Download Receipt' button.
2. Existing Users: If you are already a registered user, log in 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 ESAF SFB Retail Loan Repayment

Using Shriram Finance for ESAF SFB Retail loan repayment, as your platform offers several significant benefits:

1. Security: Shriram Finance prioritises the security of your financial transactions, ensuring that your EMI Payment 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 with convenience.
3. All-in-One Platform: Shriram Finance provides access to various financial services, and other financial needs in one place.
4. Timely Reminders: You can expect timely reminders to make ESAF SFB Retail Loan Bill Payment, before the due dates.

How to Check My ESAF SFB Retail Loan Repayment History?

Shriram Finance offers two convenient options to check your ESAF SFB Retail loan EMI payment history:

New Users:

a) After completing your ESAF SFB Retail EMI payment online, click the 'View Transaction History' button.

b) Sign up using your name, mobile number, e-mail ID, and mPIN.

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

d) Go to your profile, and then click on 'Transaction History' to check your loan repayment history.

Existing Users: If you are already a registered user, log in to your Shriram Finance Customer Portal, go to your profile, and then access 'Transaction History' to check your ESAF SFB Retail loan payment history.

List of Payment Methods Available for ESAF 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 ESAF SFB Retail Loan Repayment Fails?

If your ESAF SFB Retail Loan Repayment fails, you need not worry, choose from the below options:

1. Contact the service provider or bank: If your ESAF SFB Retail loan payment fails, call the ESAF SFB Retail Loan Repayment Contact Number, the service provider, or the bank to inquire about the issue and explore possible resolution options.
2. Raise a request: If your loan repayments fail after completing the transaction, you can raise a request from the same page using the 'Raise a Request' link provided in the receipt.

Alternatively,

• If you are an existing user, log in 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, e-mail ID, and mPIN. Then, visit the 'My Profile' section to 'Raise a Request'.
• If you want to raise a request for a specific transaction, you can navigate to "Transaction History," choose the specific transaction, click on the "Need Help" button to provide the necessary details of failure, and click "Submit".

3. Customer Support: Reach out to our customer support team for assistance. They can guide you through the troubleshooting process.

What Happens if I Don't Pay My ESAF SFB Retail Loan Repayment on Time?

Failing to pay your retail loan EMI or a Credit Card bill on time may negatively impact your credit score:

Negative Impact on Credit Score: One of the most significant consequences is that your credit score can be negatively affected. Late or missed payments are reported to credit bureaus, which can lower your credit score. A lower credit score can make it more challenging to secure instant loans or credit in the future and may result in higher interest rates on any credit you obtain.

How to Check My ESAF SFB Retail Repayment Status, on Shriram Finance?

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

New Users:

a) Click the "View Transaction History" button after finishing your ESAF SFB Retail loan payment.

b) Register using a name, mobile number, e-mail address, and MPIN.

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

d) Visit your profile, select "Transaction History," and check the progress of your most recent loan repayment.

Existing Users: If you've already signed up, log in to the Shriram Finance Customer Portal, select your profile, and then access "Transaction History" to see the status of your most recent loan EMI.

Know the Types of Loans Provided by ESAF SFB Microfinance

ESAF SFB Microfinance offers various types of loans, including:

1. Micro-Housing Loans: Designed to help individuals and families finance the construction, renovation, or purchase of affordable housing, especially in rural and underserved areas.
2. Loans Against Property (LAP): Secured by residential or commercial property, LAPs can be used for various purposes, including debt consolidation, home improvement, business expansion, or educational expenses.
3. Business Loans: Catered to small and medium-sized enterprises (SMEs), business loans support working capital needs, asset acquisition, business expansion, or technology upgrades.
4. Two-Wheeler and Three-Wheeler Loans: Finance the purchase of a new or used two-wheeler or three-wheeler for personal or business purposes.

How to Calculate ESAF SFB Retail Loan Repayments?

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

1. Access ESAF SFB Retail's website or app.
2. Enter the loan EMI amount.
3. Choose the loan tenure.
4. Input the interest rate.
5. ESAF SFB Retail will provide you with a loan with the EMI amount.

Following this instruction will make your online loan EMI payment and calculating your interest rate easy and before proceeding ensure you meet the eligibility criteria before applying.

What Happens if I miss an EMI Payment on My Loan?

Missing an ESAF 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 tougher 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. Interest Keeps Adding: Not paying your EMI doesn't stop the interest from piling up. Unpaid interest grows, meaning you'll 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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