what is e mandate in bajaj finserv

An e-Mandate is a standing instruction that allows banks to debit a specified amount from a customers bank account. It is a simple instruction given to the bank that allows organizations like Bajaj Finserv to debit EMIs or monthly investments from a customer's account on a pre-set date. The e-Mandate process is available online and can be completed through the Bajaj Finserv Customer Portal. To register for an e-Mandate, a customer needs to log in to the Bajaj Finserv Customer Portal, select the e-Mandate option, go through all the personal details, and click on the 'proceed' option. Once the registration process is complete, the customer can see the Bajaj Finserv e-Mandate status in their account. The mandate can be canceled at any given moment by getting in touch with the bank. The benefits of keeping the mandate updated include timely EMI payment and avoiding late payment charges.