Aditya Birla Capital Personal Loan Repayment

Aditya Birla Capital provides multiple ways for borrowers to pay off their EMIs (Equated Monthly Installments), making ABCL loan payment accessible to all customers. Here is a closer look at them:

Online Methods

• Use the ‘Aditya Birla Capital - Finance’ App for quick and direct payments. Register or log in, select your loan account, view outstanding EMIs, and pay using net banking, debit cards, UPI, or wallet options.
  

• The app also allows scheduling of automatic or recurring payments so monthly EMIs never get delayed.
  

• Payments can be made through the official Aditya Birla Capital website using your loan details and preferred payment method.
  

Offline Methods

• Visit any Aditya Birla Capital branch to pay in person with cash, cheque, or demand draft.
  

• Payments can also be deposited at select banking partners and payment centres.
  

• For rural customers or those preferring in-person interaction, toll-free customer service lines help guide through offline repayment.

Calculating your Aditya Birla loan repayment is crucial to proper financial planning. Aditya Birla provides an EMI calculator for easy computation. Here is the sequence of calculation for the repayment:

• Input loan amount, interest rate, and tenure into the calculator available on the Aditya Birla Capital website.

• The EMI formula used is:

EMI = (P × R × (1 + R)^N) / ((1 + R)^N – 1)

Where:
P= Principal loan amount
R = Monthly interest rate (Monthly interest rate (Annual Interest Rate ÷ 12 ÷ 100))
N = Tenure for loan repayment in months.

Example:

For a loan of ₹1,00,000 at an interest rate of 10% per annum for 60 months:

• Monthly interest rate (R) = 10 ÷ 12 ÷ 100 = 0.008333
  

• Tenure (N) = 60 months
  

Using the EMI formula:

EMI = (1,00,000 × 0.008333 × (1 + 0.008333)^60) ÷ ((1 + 0.008333)^60 – 1)

This gives an approximate monthly EMI of ₹2,124.

This EMI amount is to be paid monthly until the entire outstanding loan and interest are cleared. Adjusting the loan amount, tenure, or interest rate will change the EMI accordingly.

Borrowers must be aware of potential fees and charges when managing their ABCL loan repayment:

• Processing Fees: Usually up to 2.75%–4.72% of the loan amount, excluding applicable GST.

• Prepayment/Foreclosure:

  • Part-prepayment up to 20% of the disbursed amount per year is free. Beyond this, 3%–4% charges apply.

  • No prepayment is allowed in the first six months. Restrictions apply on minimum part-prepayment amount and number of times in the first loan year.

• Loan Reschedule Charges: ₹5,000 + GST per instance.

• Pre-closure Quote: ₹1,000 + GST per instance.

• Other Charges: Insurance, stamp duty, and other statutory levies are additional and may vary by state and customer profile.

• Late Payment Penalty: Additional interest and penalty charges apply in case of EMI default.

The above charges, interest rates, and policies are subject to change at Aditya Birla Capital’s discretion or as per regulatory guidelines. It’s recommended to always consult the latest schedules or approach the official customer support for up-to-date details.