‘Har Time EMI On Time’ is a financial education initiative launched by Bajaj Finance.

Bajaj Finance Limited, the lending arm of Bajaj Finserv Limited, a global financial services conglomerate, has launched ‘Har Time EMI On Time,’ a digital campaign to raise awareness about the importance and advantages of good financial habits for a secure financial future.

 

Har Time EMI On Time

The campaign aims to inform the general public about the advantages of paying their monthly loan EMIs on time, as well as the long-term consequences of missing payments on their overall financial health. The advertisement also emphasizes the significance of developing a disciplined habit of sticking to payment commitments in order to reap the benefits of the market’s varied financial products. The charming Gupta Ji of ‘Savdhaan Rahein’ appears in the advertising promotion.

Tinku Ji learns how to pay his monthly EMIs on time in an amusing and musical manner thanks to Safe Rahein’s fame. Tinku Ji educates consumers and the general public about the various implications of non-payment or late payment of installments, as well as the importance of timely repayments in order to improve one’s credit score, which may affect future borrowing opportunities. The multilingual digital campaign will be viewed on Bajaj Finance Limited’s website, social media platforms, customer portal, interactive voice response (IVR), mobile app, and other media infotainment channels.

 

The campaign highlights the following key aspects for the customers to remember:

1. Benefits of timely EMI payments
2. Consequences of late EMI payments
3. Ways to keep their credit score healthy for future borrowings

 

Key financial jargon explained in layman’s terms

‘Har Time EMI On Time’ is a follow-up to its original educational series, ‘ABC of EMI,’ which was introduced in February 2022 during Financial Literacy Week to explain the basics of EMI and the different aspects that go into it, such as interest rate, zero down payment, credit score, and so on.

 

Reasons to always make EMI Payments on Time

A good credit score has a long-term impact on future financial requirements. A credit score is an important aspect of anyone’s financial profile, and lenders will verify a borrower’s CIBIL score before approving a new loan. To properly care for a borrower’s credit health, constant efforts and disciplined financial habits are required. The higher the credit score of the borrower, the faster the borrower may be able to obtain another loan. Maintain a consistent payback history by paying all of your loans on time and in full, never missing a payment deadline. Make every effort to meet your financial obligations to reduce the risk of default. Delayed payments will appear on your CIBIL report, potentially lowering your credit score.

 

Avoid a late penalty; if a borrower fails to make an EMI payment on the due date, the borrower will be in default on their payment promise. It gets worse in this circumstance since the borrower would have to pay a late/penalty fee on top of the EMI amount. If a borrower does not want to be bothered by late payment reminders, he or she should put a reminder on their phone’s calendar or utilize sticky notes on their electronic devices.

 

Improving the lender’s trust through making timely payments, which can be done through practically all financial institutions’ numerous digital channels accessible today. Regular and punctual loan repayments give the lender more confidence in the borrower, ensuring that the lender-borrower relationship stays trustworthy.

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