ESAF Small Finance Bank (Micro Loans) Loan Repayment

In today's dynamic world, meeting loan repayment obligations is essential for financial stability. That's where Shriram Finance steps in, offering a seamless platform for managing your financial responsibilities through BBPS services.

About ESAF SFB Microfinance

ESAF SFB Microfinance offers a range of microfinance loans to salaried individuals and small business owners. Loans are available for various purposes, including business expansion, working capital needs, and personal expenses. Online loan applications are simple and convenient, requiring minimal documentation and credit checks. Affordable interest rates and flexible repayment tenures make ESAF SFB Microfinance loans attractive to borrowers.

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

Here is a step-by-step guide to pay ESAF SFB Microfinance 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 "ESAF 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 ESAF 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 for My ESAF SFB Microfinance Loan Repayment?

Choosing Shriram Finance for your ESAF SFB Microfinance Loan Repayment offers several benefits:

1. Convenience: Shriram Finance provides a user-friendly and convenient ESAF SFB Microfinance loan payment platform, making it easy to manage your financial obligations.
2. Quick and Easy: The application process is streamlined, ensuring a hassle-free ESAF SFB Microfinance loan quick-pay 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 ESAF SFB Microfinance Loan EMI Payment Receipts?

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

1. New Users: After completing your ESAF 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 ESAF SFB Microfinance Loan Repayment

When it comes to ESAF SFB Microfinance loan EMI payments, using Shriram Finance offers several significant benefits:

1. Security: Shriram Finance prioritises the security of your financial transactions, ensuring that your ESAF 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 and other financial needs in one place.
4. Timely Reminders: You can expect timely reminders to pay your ESAF SFB Microfinance Loan EMI Online before the due dates.

How to Check My ESAF SFB Microfinance Loan Repayment History?

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

New Users:

a) After completing your ESAF SFB Microfinance 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 then click on 'Transaction History' to check your ESAF 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 ESAF SFB Microfinance loan repayment history.

List of Payment Methods Available for ESAF 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 ESAF 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 ESAF 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 ESAF SFB Microfinance Loan Repayment on Time?

Failing to pay your ESAF 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 ESAF SFB Microfinance.

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

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

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

New Users:

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

Know the Types of Loans Provided by ESAF SFB Microfinance

ESAF SFB Microfinance offers various types of loans, including:

1. Income Generation Loan (IGL): This loan is designed to help individuals start or grow a business.
2. General Loan: This loan can be used for a variety of personal purposes, such as debt consolidation, home improvement, or medical expenses.
3. Nirmal Jeevandhara Loan: This loan is designed to help individuals pay for unexpected expenses, such as medical emergencies or natural disasters.
4. Micro Energy: This loan is designed to help individuals finance the purchase of energy-efficient appliances or other home improvements that can help reduce energy costs.
5. Business Loan: This loan is designed to help businesses start or grow. It can be used to purchase inventory, equipment, or other business needs.

How to Calculate ESAF SFB Microfinance Loan Repayments?

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

1. Access ESAF SFB Microfinance's website or app.
2. Enter the loan EMI amount.
3. Choose the loan tenure.
4. Input the interest rate.
5. ESAF SFB Microfinance will provide you with the EMI (Equated Monthly Instalment) amount.
6. You can also use ESAF SFB Microfinance 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 ESAF 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: 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.

Download Shriram One Now

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