Unity Small Finance Bank Limited Loan Repayment

Unity Small Finance Bank, a pioneering financial institution, has emerged as a frontrunner in the industry, offering a comprehensive range of banking solutions. Shriram Finance extends an array of services, including the innovative Bharat Bill Payment System (BBPS), to simplify bill payments and enhance customer convenience.

About Unity Small Finance Bank

Unity Small Finance Bank (Unity SFB) is a new-age small finance bank that was founded in 2021 by Centrum Financial Services and BharatPe. Unity Small Finance Bank offers a wide range of banking products and services to individuals and small businesses, including savings accounts, current accounts, fixed deposits, loans, and payment solutions.

Unity Small Finance Bank is committed to using technology to make banking more accessible and affordable for everyone. It offers a variety of digital banking solutions, such as mobile banking, internet banking, and UPI (unified payments interface).

How to Pay My Unity Small Finance Bank Loan Repayment with Shriram Finance?

Here is a step-by-step guide to make quick payment for your Unity Small Finance Bank loan EMI online with Shriram Finance:

• Visit the Shriram Finance website.
• Navigate to the main menu and click on "Payments," then opt for "BBPS."
• Choose the "Financial Services & Tax" category and select "Loan Repayment."
• Select "Unity Small Finance Bank"
• Enter the loan number for your Unity Small Finance Bank loan and click "Proceed."
• Verify if the mobile number is correct and click "Continue."
• Enter the 6-digit OTP and click "Verify and Continue."
• Review your Unity Small Finance Bank loan EMI Payment details and click "Pay."
• Choose a preferred payment method, enter the required details and complete the payment.

By following these steps, you can efficiently repay your loan through Shriram Finance.

Why Should I Choose Shriram Finance My Unity Small Finance Bank Loan Repayment?

Choosing Shriram Finance for your Unity Small Finance Bank loan repayment offers several benefits:

Convenience: Shriram Finance provides a user-friendly and convenient platform for Unity Small Finance Bank loan repayment, making it easier to manage your financial obligations.

Quick and Easy: The process is streamlined, ensuring a quick and hassle-free Unity Small Finance Bank loan quick-pay experience.

Access to Multiple Services: Shriram Finance may offer additional financial services or products, allowing you to conveniently access various financial solutions in one place.

Reward Points: Earn reward points on your Unity Small Finance Bank loan repayment with Shriram Finance, which can be redeemed against other bill payments.

How to Download My Unity Small Finance Bank Loan EMIs Payment Receipts?

Shriram Finance offers two convenient options to download the payment receipt for your Unity Small Finance Bank EMI Payment online:

New Users: After completing your Unity Small Finance Bank loan repayment, click the "Download Receipt" button.

Existing Users: If you are already a registered user, log in to your Shriram Finance customer portal, visit your profile and access "Transaction History." Here, you can easily select the "Download Receipt" option.

Benefits of Using Shriram Finance for My Unity Small Finance Bank Loan Repayment

When it comes to Unity Small Finance Bank loan repayments, using Shriram Finance as your platform offers several significant benefits:

Security: Shriram Finance prioritises the security of your financial transactions, ensuring that your Unity Small Finance Bank loan EMI payments online are processed safely and securely.

User-Friendly Interface: The platform offers a user-friendly interface, making it easier for you to navigate and complete your EMI payments with convenience.

All-in-One Platform: Shriram Finance provides access to a variety of financial services, allowing you to manage your Unity Small Finance Bank loan EMI payment online and other financial needs in one place.

Timely Reminders: You can expect timely reminders to pay your Unity Small Finance Bank EMIs before the due dates, helping you to stay on top of your payments and avoid late fees.

Reward Points: Earn attractive reward points on your Unity Small Finance Bank loan repayments with Shriram Finance, which can be redeemed against other bill payments.

How to Check My Unity Small Finance Bank Loan Repayments Transaction History?

Shriram Finance offers two convenient options to check the transaction history for your Unity Small Finance Bank loan repayments. Choose the one that suits you:

New Users

• After completing your Unity Small Finance Bank loan repayments, click the "View Transaction History" button.
• Sign up using your name, mobile number, e-mail ID, and mPIN.
• You will be redirected to the Shriram Finance customer portal.
• Visit your profile and click on "Transaction History" to check the transaction history for your Unity Small Finance Bank loan repayments.

Existing Users

• If you are already a registered user, log in to your Shriram Finance customer portal.
• Visit your profile and access "Transaction History" to check the transaction history for your Unity Small Finance Bank loan repayments.

List of Payment Methods Available on Shriram Finance for My Unity Small Finance Bank Loan Repayment

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 Unity Small Finance Bank Loan Repayment Fails?

If your Unity Small Finance Bank loan repayment fails, you need not worry. Choose from the below options:

Contact: Reach out to Unity Small Finance Bank or contact the bank through which you made the transaction. You must confirm the transaction made and resolve the issue of payment failure.

Raise a Request: You can raise a request from the same page using the "Raise a Request" link provided in the receipt. Alternatively, choose from the below options that apply to you and follow the steps mentioned for that option.

• Existing User: If you are an existing user, you can log in to your Shriram Finance customer portal, and visit the "My Profile" section to "Raise a Request."
• New User: If you are a new user, sign up using your name, mobile number, e-mail ID, and mPIN. Thereafter visit the "My Profile" section to "Raise a Request."
• Specific Transaction: To raise a request for a specific transaction, navigate to "Transaction History," choose the specific transaction, click "Need Help," to provide the necessary details, and click "Submit."

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

What Happens If I Do Not Pay My Unity Small Finance Bank Loan Repayment on Time?

Failing to pay your Unity Small Finance Bank EMI on time can result in consequences that may negatively impact on 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 loans or credit in the future and may result in higher interest rates on any credit you obtain.

How to Check My Unity Small Finance Bank Loan Repayment Payment Status?

Shriram Finance offers two convenient options to check the payment status for your Unity Small Finance Bank loan repayment. Choose the one that applies to you.

New Users: After completing your Unity Small Finance Bank loan repayment, click the "View Transaction History" button. You will need to sign up using your name, mobile number, e-mail ID, and mPIN. You will be reach the Shriram Finance customer portal. Visit your profile and click "Transaction History" to view the status of your most recent payments for your Unity Small Finance Bank loan repayment.

Existing Users: If you are a registered user, sign in to your Shriram Finance customer portal. Visit your profile and access "Transaction History" to view the status of your most recent payments for your Unity Small Finance Bank loan repayment.

Know the Types of Loans Provided by Unity Small Finance Bank

Unity Small Finance Bank offers various types of loans including:

Micro Loan Against Property (Micro LAP): This unsecured loan provides versatile funding options for purposes like business growth, working capital, or personal financial needs.

Loan Against Property (LAP): Secured by property, this loan offers a flexible source of funds for business expansion, working capital, or consolidating debts.

MSME Term Loan: An unsecured loan tailored for various business needs, including working capital, asset acquisition, and expansion.

Unsecured Business Loan: This collateral-free loan supports diverse business objectives, such as bolstering working capital or purchasing assets.

Business Credit: A revolving credit line ideal for financing working capital or inventory procurement across a spectrum of business requirements.

Personal Loan: A multipurpose loan designed to cater to personal needs, including debt consolidation, home renovations, or educational expenses.

Gold Loan: Secured by gold assets, this loan accommodates personal or business expenses, including medical bills.

How Can I Calculate Unity Small Finance Bank Loan Repayments?

To calculate Unity Small Finance Bank loan repayments online, follow these steps:

• Access Unity Small Finance Bank's website or app.
• Enter the repayment amount.
• Choose the loan tenure.
• Input the interest rate.
• Unity Small Finance Bank will provide you with the EMI amount.
• You can also use the Unity Small Finance Bank loan EMI calculator for a quick estimate.

The online calculator can be used for EMI calculation to ensure you meet the eligibility criteria before applying for the loan.

What Happens if I Miss an EMI Payment on My Unity Small Finance Bank Loan?

Missing a Unity Small Finance Bank loan repayment on your loan can have various consequences:

Late Payment Fee: When you do not make an EMI payment on time, the bank will add a late fee, which is extra money on your regular EMI.

Credit Score Impact: Your credit score shows how trustworthy you are with credit. Missing payments can lower your score, making it tougher to get credit cards, instant loans, or mortgages later.

Legal Consequences: If you keep missing payments and become a defaulter, the bank might take legal action against you.

Interest Keeps Adding: Not paying your EMI does not stop the interest from piling up. Unpaid interest grows, meaning you will owe more in the long term.

Future Loan Challenges: Missed payments can hurt your credit scores and make it harder to get loans in the future. If you do get approved, your loans might come with higher interest rates.

Download Shriram One App now

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