Manage your bank account details in My Account

When you take a loan from us, you have to register an active bank account into which the loan is disbursed. This is the account that your EMIs will be deducted from.

If your bank account undergoes a change, it is important that you update it on our records. You must do this to prevent the possibility of EMI bounce, unnecessary charges, and a negative impact on your CIBIL Score.

You can manage your bank account details by signing-in to our customer portal My Account.

If you have opted for our Flexi Loan variant, there are two kinds of bank accounts that you can update – your EMI repayment account and your drawdown bank account.

The repayment account is the account from which your EMIs are deducted every month. Your drawdown bank account is the account in which you receive funds when you withdraw money from your Flexi Loan.

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  Change repayment bank account details

  You can update your repayment bank account details in My Account by following these simple steps:
  

  • Sign-in to our customer portal with your date of birth and mobile number.
    
  • Select the loan account for which you want to update bank details and proceed.
    
  • Enter the relevant details such as, the account holder’s name, new bank account number, and IFSC.
    
  • Choose your registration mode and proceed.
    

  
  You can also change your repayment bank account details by clicking on the ‘Manage your repayment account’ text below. You will be asked to sign-in to ‘My Account’. Once signed-in, you will be redirected to our mandate management section.
  

  You can then select your loan account and proceed by entering the other required details.
  

  Manage your repayment account
  

  You will receive a confirmation message on your screen once your bank account details are successfully registered.

  Please note that if you have updated any of your profile details recently, you will have to wait for 90 days before you can update your repayment bank account details again.

  Also, any change in your repayment bank account does not change your drawdown bank account details.
  

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  Change drawdown bank account details

  You can change your drawdown bank account by visiting our customer portal.
  

  • Sign-in to My Account using our two-factor authentication and verify your details with an OTP.
    
  • Choose the Flexi Loan account from ‘My Relations’ for which you want to change the drawdown bank account.
    
  • Click on the ‘Withdraw’ option from ‘Quick Actions’ and then click on the ‘Update Bank Account’ option below your account details.
    
  • Enter your new bank account details and the IFSC.
    
  • Click on ‘Proceed’ to update your new bank account details.
    

  
  Alternatively, you can update your drawdown bank account by clicking on the ‘Manage your drawdown account’ text below. You will be asked to sign-in to ‘My Account’ and redirected to ‘My Relations’ section.
  

  Select your Flexi Loan account, click on ‘Withdraw’ from ‘Quick Actions’ and click on ‘Update Bank Account’ below your drawdown bank account details and proceed.

  Please note that any change in your repayment bank account does not change your drawdown bank account details.

  Manage your drawdown account
  

When you take a loan, you need to register your bank account details for disbursement and EMI deduction. This ensures that your EMIs are deducted on time and that there is no negative impact on your CIBIL Score. If your bank account details have changed, you must update them to ensure hassle-free loan repayment.


All you have to do is visit our customer portal – My Account, choose your loan account for which you want to update bank account details, enter your bank details, and proceed to update your bank account.


However, if you have opted for our Flexi Loan, you also need to register your bank account to receive funds using the withdrawal facility. In case, you want to change your drawdown bank account details, you can also update them by signing-in to our customer portal.