What is an annual maintenance charge (AMC)?
An annual maintenance charge (AMC) is a nominal fee charged as per the terms and conditions mentioned in your loan agreement.
These charges are levied every year to keep your Flexi Loan account active and provide you with additional services such as:
- Multiple withdrawals from your available loan limit
- Part-prepayment of your loan when you want without paying any additional charges
When and how can I pay the annual maintenance charges?
The annual maintenance charges (AMC) for the Flexi Loan account are to be paid as per rates prescribed in your loan agreement. With effect from April ’23, the AMC will be adjusted from your utilised Flexi Loan limit.
However, for the convenience of the customer, the Flexi Loan limit will be increased as much as the AMC to allow them to withdraw the maximum amount as per their sanction.
If your Flexi Loan limit is not available, Bajaj Finance Limited will recover the dues from your registered bank account through ECS or NACH facility, as the case may be.
Steps to pay Flexi Loan annual maintenance charge (AMC)
For the convenience of customers, AMC will be adjusted from the unutilised Flexi Loan limit with effect from April 2023. To ensure that you can still make the most out of your total sanction, it will be increased according to the AMC. In the absence of funds in your available Flexi Loan limit, Bajaj Finance will recover dues from your registered bank account through NACH facility, as the case may be.
In case you have overdue annual maintenance charges you can pay it online by clicking here.
Alternatively, you can also clear your overdue annual maintenance charges by visiting our customer portal – My Account
- 1 Sign-in to our customer portal with your mobile number and date of birth.
- 2 Select your Flexi Loan account from the ‘My Relations’ section.
- 3 Click on the ‘Make Payments’ option within ‘Quick Actions’.
- 4 Select 'Overdue or missed EMI' from the list of options and proceed.
- 5 Enter the amount and review the penal charges if any and proceed to pay
- 6 Choose a relevant payment mode and use our secured payment getaway to clear your dues.
You can also pay annual maintenance charge through our app. Click on App Store/ Play Store to download our app.
Frequently asked questions
An Annual Maintenance Charge (AMC) is a nominal fee that we levy every year to keep your account active and provide you with services such as:
- Part-prepayment of your loan as many as times you can without paying anything extra.
- Multiple withdrawals from your available loan limit
You can refer your loan agreement to know the complete list of fees and charges.
You need to pay the annual maintenance charge every year on the anniversary month as per T&C mentioned in your agreement.
