Bajaj Finance launches a financial education initiative, “Har Time EMI On Time”

To create awareness of the benefits of good financial habits and timely loan repayments Pune, Maharashtra, India (NewsSee) Bajaj Finance Limited, the lending arm of Bajaj Finserv Limited, a leading financial services conglomerate, has launched its public awareness initiative ‘Har Time EMI On Time’, a digital campaign to raise awareness of the need and benefits of adopting good financial habits for a healthy financial future. The campaign aims to educate the general public on the benefits of paying their monthly EMI loans on time and the negative side effects of not paying their loan repayments on their overall long-term financial health.The campaign also emphasizes the importance of adopting a disciplined habit of ensuring respect payment commitments in order to take advantage of the various financial offers available on the market. featured the endearing Gupta Ji, from ‘Savdhaan Rahein. Rahein safe. renowned teacher Tinku Ji, the simple ways to pay his monthly EMIs on time, in an entertaining and melodious style. Through Tinku Ji, customers and the general public are made aware of the various consequences of non-payment or late payment of installments and draw more attention to the need for timely repayments to increase one’s credit score. , as this may have an impact on facilitating future borrowing. The multilingual digital campaign will be visible on all Bajaj Finance Limited digital properties such as the website, social media platforms, client portal, IVR, mobile app and other multimedia infotainment channels. The campaign highlights the following key aspects for customers to remember: • Benefits of timely EMI payments • Consequences of late EMI payments • Ways to keep their credit score healthy for future borrowings • Simplified meanings of key financial terminologies ‘Har Time EMI On Time’ is an extension of his original educational series, ‘ABC of EMI’ launched in celebration of Financial Literacy Week in February 2022, which articulated the simplified meaning of EMI and the various factors associated with it such as interest rate, zero down payment, credit score, etc. Reasons to always make EMI payments on time • The importance of a healthy credit score has a long-term impact on future financial needs. A credit score is an important part of anyone’s financial profile, and lenders will check a borrower’s CIBIL score for any new loan application. It takes consistent effort and disciplined financial habits to take care of the borrower’s credit health. The higher the borrower’s credit score, the faster the borrower may be able to qualify for another loan. • Maintain a regular repayment history by making all loan payments on time and in full, never missing a due date. To reduce the probability of default, make every effort to meet your payment commitments. Late payments will be noted in your CIBIL report and may reduce the borrower’s CIBIL score.

• Avoid a late penalty; if a borrower misses a payment on the EMI’s due date, this would result in a default of payment commitment. In such a situation, the situation becomes worse since the borrower will have to pay a late fee/penalty, which is added to the amount of the EMI. If a borrower does not want to be inconvenienced by late payment reminders, they should set a reminder on their phone calendar or use sticky notes on their electronic devices to remind them of the upcoming payment schedule.

• Improve lender confidence through timely payments that can be made through the various digital modes available today from almost any financial intuition. Regular and punctual loan repayments increase the lender’s confidence in the borrower and ensure that the lender-borrower relationship remains trustworthy. About Bajaj Finance Limited Bajaj Finance Limited, the lending arm of Bajaj Finserv Limited, is one of the most diversified NBFCs in the Indian market, serving over 50 million customers across the country. Based in Pune, the company’s product offering includes Sustainable Consumer Loans, Lifestyle Finance, Digital Product Finance, Personal Loans, Loans Against Property, Small Business Loans, Wallets , co-branded credit cards, two- and three-wheeler loans, business loans. /SME lending, securities lending and rural finance which includes gold lending and vehicle refinancing lending as well as term deposits. Bajaj Finance Limited has the highest national credit rating of AAA/Stable for long-term borrowings, A1+ for short-term borrowings, and FAAA/Stable and MAAA (Stable) for its FD program. It has a long-term issuer credit rating of BB+/Positive and a short-term issuer rating of B by S&P Global Ratings. To learn more, visit www.bajajfinserv.in.

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