Toggle Nav

Search
+1
My offers
Apply Now
My Cart
Profile
Menu
Account
e Mandate

How it works

e-Mandate

  1. About
    • An e mandate can be directy set up through an online transaction rather taking multiple days throughan offline mandate

      The Customer Needs to fill in basic KYC details and complete a transaction from the merchant website using PayNimo.
  2. Time
    • 2 days
  3. Process
    • Click on the link on the SMS where he/ she shall validate all the details.
    • Post validation customer will be redirected to the bank page where he can authenticate the transaction by using Netbanking or Debit Card credentials .
    • On succesful validation, real time UMRN( Unique Mandate Reference Number) will be shared with the bank where you hold your account
    • If the bank accepts the mandate, the company will be able to directly debit your account .
  1. Which banks is the e-mandate affiliated to?

    2. The e-mandate with Bajaj Mall is affiliated to three banks:

    1. State Bank of India
    2. ICICI Bank
    3. HDFC Bank
    4. Axis Bank
    5. Kotak Mahindra Bank
  2. What if I don’t have an account in a bank?

    3. If you don’t have an active bank account, our sales executive shall come to your house and collect your documents to initiate the offline mandate process.

  3. How is it helpful?

    4. The primary objective of an e-mandate is to reduce the time of the process from 21 days to 2 days. It helps you purchase a product on EMI without major documentation or having to wait for long.

  4. What are the documents required to be eligible for an e-Mandate?

    5. Mandatory Requirements to use E-mandate facility:

    • Aadhaar Number
    • Mobile number has to be registered with Aadhaar
    • Aadhaar number has to be linked to their bank account
  5. What if there is insufficient balance in my account?

    6. Like any other online transaction, in times of insufficient balance, the payment for the Bajaj Finserv Loan EMI is denied. When you’ll clear the EMI for loan, you’ll be charged with bounce charges in case of bounce in your EMI payment.

    Current Bounce Charges are : Rs XXX

  6. How many e-Mandates can I link to my account?

    7. No, there is no limit to the number of e-Mandates that can be set up for an account.

  7. What are the benefits of E-mandate over ECS mandate (Manual)
    • Fully End to End automated process without hassle of printing and sending the NACH from
    • It takes only 3 minutes to register & activate your mandate
    • Saves the time of sending NACH form through post/courier
    • Reduced cost of printing and postage
    • Can be registered Anytime and from Anywhere
    • Chances of rejection due to sign differ, inferior print quality, mismatch in bank details, etc. gets reduced significantly
    • Communication will be sent through email on successful activation of the mandate
  8. How is it different from an ECS mandate?

    9. An ECS mandate is an offline process where physical documents have to be submitted

  9. What are the documents required to be eligible for an e-Mandate?
  10. What if there is insufficient balance in my account?

    11. If there is insufficient balance in your account, like any other given scenario, the transaction will be declined by your bank to the merchant.

  11. How many e-Mandates can I link to my account?

    12. There is no limit to the number of e-mandates you can link to your account. You can link as many mandates with your account as you wish to.