Identity Phase — Steps 1–3
📱
Identity
❓ Why We Ask — Mobile Verification
- 📱 Your mobile number is your primary identity — it links to your Aadhaar, PAN, and bank account for seamless verification.
- 🔐 OTP authentication ensures only you can access your loan application — protecting against identity theft.
- 📋 RBI mandates mobile-based authentication for all digital lending journeys under the Digital Lending Guidelines 2022.
- 🏪 Dealer selection at login links your application to the correct partner store for product and offer eligibility.
Mobile Entry Screen
| Field | Mobile Number (10 digits) |
| Validation | Exact 10-digit Indian mobile number |
| Customer Type | NTB (New to Bajaj) or ETB (Existing) |
| Role | Customer or FTC Agent |
| Dealer Selection | Search by code / name or use Nearby Dealer GPS |
OTP Verification Screen
| OTP Length | 6 digits |
| Validity | 30 seconds countdown timer |
| Resend | Available after 30s cooldown |
| Demo OTP | 482917 (Customer) / 315274 (FTC) |
| ETB Detection | Auto-detected from mobile number |
📍 GPS Nearby Dealer
🔍 Dealer Code Search
🔄 OTP Resend
👤 ETB Auto-detect
🌐 Multi-language Taglines
ETB Customers: If the mobile number is already registered with Bajaj Finance, the system auto-detects the customer as ETB and pre-fills wallet and KYC data in subsequent steps.
💳
Identity
❓ Why do we create a wallet?
- 💳 Your BajajVerse wallet is your digital identity for all loan and finance transactions.
- 🔗 It links your KYC, credit limit, and repayment history in one secure place.
- ⚡ Once created, future loan applications are faster — your details are pre-filled automatically.
- 🛡️ Wallet creation is Aadhaar-verified and compliant with RBI digital lending norms.
NTB — New Wallet
| Full Name | As per Aadhaar |
| Date of Birth | DD/MM/YYYY format |
| Email Address | Optional |
| Wallet ID | Auto-generated (BV-NTB-XXXXXXXXXX) |
ETB — Existing Wallet
| Auto-fetch | Name, DOB, email from records |
| KYC Status | Verified / Pending / Failed |
| Credit Limit | Pre-assigned (e.g. ₹3,50,000) |
| PAN / Aadhaar | Masked and pre-verified |
🔄 ETB Auto-populate
✅ KYC Pre-verified
⚠️ No-Wallet Popup
🔒 Aadhaar-linked
🪪
Identity
❓ Why is KYC mandatory?
- 🏛️ KYC is mandated by RBI and the Prevention of Money Laundering Act (PMLA) for all lending institutions.
- 🪪 It verifies your identity using government-issued documents (Aadhaar, PAN) to prevent fraud and impersonation.
- 🎥 Video KYC (V-CIP) is an RBI-approved method that replaces physical branch visits — fully digital and legally valid.
- 🔐 DigiLocker-based Aadhaar eKYC fetches your data directly from UIDAI — no document uploads needed.
Option A — Video KYC (V-CIP)
1
Live Face Match
Liveness detection + Aadhaar photo match
2
Document Capture
PAN + Aadhaar captured live on video
3
Identity Verification
Name, DOB, gender vs NSDL/UIDAI
4
Consent Recording
Audio-video consent per RBI guidelines
5
Geo-tagging
Customer location captured & verified
Option B — DigiLocker Aadhaar eKYC
1
UIDAI API Auth
Direct Aadhaar XML via official UIDAI API
2
Mobile OTP
OTP to Aadhaar-registered mobile
3
Aadhaar XML Pull
Name, DOB, address, photo fetched
4
PAN Linkage Check
PAN verified against NSDL database
5
POI Auto-Verification
Proof of Identity auto-verified
🎥 Video KYC (V-CIP)
📱 DigiLocker eKYC
🏛️ UIDAI API
📋 NSDL Compliance
🏠 POA Verification
👁️ Maker-Checker Workflow
📍 Geo-tagging
Video KYC: 3–5 minutes with a live agent. DigiLocker eKYC: Usually under 60 seconds. Both methods are fully RBI-compliant and legally equivalent.
Profile Phase — Steps 4–5
📋
Profile
❓ Why do we collect these details?
- 👨👩👧 Family details (mother's & father's name) are used for identity verification and fraud prevention.
- 💼 Employment type and income help us assess your repayment capacity and assign the right loan limit.
- 🏠 Residence type and alternate contact ensure we can reach you for important loan communications.
- 📊 This information is used only for credit assessment and is protected under our privacy policy.
Family Tab
| Mother's Name | Required |
| Father's Name | Required |
Employment Tab
| Employment Type | Salaried / Self-employed |
| Office Address | Optional |
| Monthly Income | Income slab selection |
| Household Income | Required if income < ₹35,000 |
Residence Tab
| Residence Type | Own / Rented / Family |
| Alternate Mobile | 10 digits, required |
📊
Profile
❓ Why do we check your CIBIL score?
- 📊 Your CIBIL score helps us determine your creditworthiness and assign an appropriate loan limit.
- 🔍 This is a soft inquiry — it has zero impact on your CIBIL score. Only a hard inquiry (full sanction) affects it.
- 🤖 We combine your CIBIL score with our internal AI risk model for a more accurate and fair assessment.
- 🔒 This step is gated — it requires completion of KYC and Additional Details first.
750
CIBIL Score (Demo) · Out of 900
Poor 300–549
Fair 550–649
Good 650–749
Excellent 750+
Underwriting Outcomes
✓
Approved
CD Limit: ₹1,50,000 · Digital: ₹75,000 · LTV: 85%
~
Conditionally Approved
Lower limit — enhance via Account Aggregator
✗
Declined
Use Account Aggregator for income reassessment
🔒 Gated Step (requires Steps 3+4)
🤖 AI Risk Model
📈 Account Aggregator
0️⃣ Zero CIBIL Impact
Shopping Phase — Steps 6–8
🏪
Shopping
❓ Why do we verify the store?
- 🏪 Store verification ensures your loan is linked to an authorised Bajaj Finance partner outlet.
- 🔒 It prevents fraud by confirming the purchase is happening at a legitimate, registered merchant.
- 🎁 Verified stores unlock exclusive EMI offers, cashbacks, and zero-interest schemes for you.
- 📋 RBI digital lending guidelines require lender-merchant linkage for consumer durable loans.
| Scan Method | Camera QR scan or manual dealer code entry |
| Search | By dealer code, name, or city |
| Nearby Dealers | GPS-based store discovery with distance, rating, open/closed status |
| Store Info | Dealer code, store name, city, distance, star rating |
📷 QR Scan
📍 GPS Nearby
⭐ Store Ratings
🕐 Open/Closed Status
🔲
Shopping
❓ Why generate a Store QR?
- 🔲 The Store QR is a unique, time-bound token that authorises the merchant to proceed with your loan transaction.
- 🛡️ It prevents unauthorised transactions — only a QR generated by you can be scanned by the merchant.
- ⏱️ The 30-minute validity window ensures the QR cannot be reused or misused after the session.
- 📋 RBI requires a verifiable merchant-customer linkage before any loan disbursement can be initiated.
| QR Validity | 30 minutes from generation |
| QR Content | Encrypted loan session token + dealer code |
| Action | Show QR to merchant for scanning |
| Regenerate | Available if QR expires |
Important: The QR is valid for 30 minutes only. If it expires, tap "Regenerate QR" to get a new one. Do not share the QR with anyone other than the store merchant.
📦
Shopping
❓ Why do we need product details?
- 📦 The product SKU and price determine the Loan-to-Value (LTV) ratio and the exact loan amount to be disbursed.
- 💰 Down payment is calculated based on the product price and your assigned credit limit.
- ✅ Only products from Bajaj Finance's approved catalogue are eligible — this protects you from ineligible purchases.
- 📋 RBI consumer durable financing guidelines require product-level documentation for all loans.
| Product Category | Mobile, Laptop, TV, Appliance, etc. |
| Brand | Apple, Samsung, LG, Sony, etc. |
| Model / SKU | Exact model number from store |
| MRP / Price | Must match store invoice exactly |
| Down Payment | Auto-calculated based on LTV |
| Loan Amount | Price minus down payment |
📱 Product Catalogue
💳 LTV Calculation
💰 Down Payment
🔍 SKU Lookup
Approval Phase — Steps 9–11
🔐
Approval
❓ What happens during Risk Approval?
- 🤖 Our AI performs a final risk assessment combining your CIBIL score, income, and application data to make a lending decision.
- 🛡️ Fraud validation checks your application against known fraud patterns to protect both you and Bajaj Finance.
- 📜 A Sanction Letter is generated upon approval — this is your official loan approval document with all terms.
- ✍️ The OTP-based digital signature on your loan agreement is legally valid under the IT Act 2000.
1
Final Risk Assessment
AI evaluating credit profile
2
Fraud Validation
Checking fraud indicators
3
Policy Validation
Verifying lending policy compliance
4
Sanction Letter Generation
Generating official approval document
Sample Sanction Details
Loan AccountBFL-2024-RK-119847
Loan Amount₹1,19,999
Tenure12 months
Monthly EMI₹11,000
Interest Rate3% p.a.
First EMI Date20 Aug 2026
⚡ ~8 sec Approval
📜 Sanction Letter
✍️ OTP Digital Signature
📥 Download PDF
📋
Approval
❓ Why do we need OTP consent for scheme selection?
- 📋 MITC (Most Important Terms and Conditions) disclosure is mandatory under RBI Fair Practices Code — you must acknowledge all loan terms.
- 🔐 OTP consent for scheme selection creates a legally binding record that you agreed to the specific EMI plan and interest rate.
- 💡 Comparing multiple EMI plans helps you choose the most affordable option for your budget.
- 🎁 Some schemes offer 0% interest — the OTP confirms your selection of the specific offer terms.
| EMI Tenures | 3, 6, 9, 12, 18, 24 months |
| Interest Rate | 0% to 24% p.a. depending on scheme |
| MITC Disclosure | Full terms shown before OTP consent |
| OTP Consent | 6-digit OTP to confirm scheme selection |
| Processing Fee | Displayed per scheme |
0️⃣ 0% EMI Schemes
📋 MITC Compliance
🔐 OTP Consent
📊 EMI Calculator
🛡️
Approval
❓ Why are add-ons offered here?
- 🛡️ Device insurance protects your purchase against accidental damage, theft, and liquid damage — bundled at a low EMI.
- 💡 Extended warranty add-ons are offered at the point of purchase — the most cost-effective time to add coverage.
- ✅ All add-ons are optional — you can skip this step entirely without affecting your loan.
- 📋 Insurance is regulated by IRDAI; all products shown are from licensed insurers.
| Device Insurance | Accidental damage, theft, liquid damage |
| Extended Warranty | 1–3 years beyond manufacturer warranty |
| EMI Add-on | Insurance premium added to monthly EMI |
| Optional | All add-ons can be skipped |
🛡️ Device Insurance
🔧 Extended Warranty
✅ Fully Optional
📋 IRDAI Regulated
Disburse Phase — Steps 12–16
📲
Disburse
❓ Why do we validate the IMEI?
- 📲 The IMEI (International Mobile Equipment Identity) uniquely identifies the specific device being financed — preventing duplicate loan claims.
- 🚫 We check the IMEI against a blacklist database to ensure the device is not stolen, blocked, or previously financed.
- 🔗 Linking the IMEI to your loan account creates a traceable record for insurance claims and warranty purposes.
- 📋 IMEI validation is required by RBI for all device financing loans to prevent fraud.
| IMEI Entry | Manual entry or barcode scan |
| IMEI Format | 15-digit number (dial *#06# to get it) |
| Blacklist Check | Real-time check against CEIR database |
| Dual IMEI | Both IMEI slots captured for dual-SIM devices |
| Validation | Instant — pass/fail result |
Tip: Dial *#06# on the device to instantly display the IMEI number. For dual-SIM phones, both IMEI numbers will be shown.
🔄
Disburse
❓ Why do we set up an e-Mandate?
- 🔄 E-Mandate (UPI Autopay or NACH) authorises automatic EMI deductions from your bank account on the due date — no manual payment needed.
- ✅ It ensures you never miss an EMI, protecting your CIBIL score from late payment penalties.
- 🏛️ RBI mandates e-Mandate setup for all EMI-based loans to ensure systematic repayment.
- 🔒 You can cancel or modify the mandate at any time through your bank — it does not lock your account.
⚡ UPI Autopay (Recommended)
🏦 Net Banking eNACH
📄 NACH Physical
💜 CBDC Digital Currency
🔓 Mandate Waiver Option
✍️
Disburse
❓ Why do we need digital consent?
- 📜 Digital consent creates a legally binding loan agreement under the IT Act 2000 and Indian Contract Act.
- 🔐 OTP-based signing ensures only you (the account holder) can authorise the loan documents.
- ✅ All documents must be reviewed and signed before disbursement — protecting both you and Bajaj Finance.
- 📋 RBI Fair Practices Code requires explicit customer consent for all loan terms before disbursement.
Once all documents are signed, the status updates to Verified (green checkmark) — visible when navigating back to this step. This provides clear progress visibility throughout the journey.
🧾
Disburse
❓ Why do we need the invoice?
- 🧾 The purchase invoice is the official proof that the product was purchased from an authorised store at the declared price.
- 🤖 AI auto-extracts invoice details (amount, date, product, GST) — reducing manual entry errors.
- 📋 RBI requires invoice verification for all consumer durable loans to prevent over-financing and fraud.
- 🔗 The invoice amount must match the loan amount — any discrepancy will flag the application for review.
| Upload Method | Camera capture or file upload (JPG, PNG, PDF) |
| AI Extraction | Auto-reads amount, date, product name, GST number |
| Validation | Invoice amount must match loan amount |
| Store Name | Must match selected dealer |
| Image Quality | AI tip: Keep image clear and well-lit |
🤖 AI Auto-extraction
📷 Camera Capture
📁 File Upload
✅ Amount Validation
🎉
Disburse
❓ What happens after you submit?
- 🚚 The Delivery Order (DO) QR authorises the merchant to hand over the product to you — show it at the store.
- 💰 Disbursement means Bajaj Finance pays the merchant directly on your behalf — you repay via EMIs.
- ⏱️ Disbursement is processed within 2 hours of submission. You will receive an SMS confirmation.
- 📄 Your loan account number and repayment schedule will be sent to your registered mobile and email.
Final Loan Summary
Loan AccountBFL-2024-RK-119847
AssetApple iPhone 15 Pro Max
Loan Amount₹1,19,999
Monthly EMI₹11,000 × 12 months
StoreReliance Digital, Andheri West
DisbursementWithin 2 hours
📲 Delivery Order QR
💰 Direct Merchant Payment
⏱️ 2-Hour Disbursement
📱 SMS Confirmation
🔄 Start New Case
Frequently Asked Questions
Common customer questions answered — available in the in-app hamburger menu.
What is a Bajaj Finance EMI Card?
The Bajaj Finance EMI Card is a pre-approved credit limit that lets you buy products on easy EMIs at 1 lakh+ partner stores across India — no credit card needed.
Does checking my CIBIL score affect it?
No. We perform a soft inquiry during the journey which has zero impact on your CIBIL score. Only a hard inquiry (full loan sanction) affects your score.
How long does KYC take?
Video KYC takes 3–5 minutes with a live agent. DigiLocker-based Aadhaar KYC is instant — usually under 60 seconds.
What is the e-Mandate?
E-Mandate (UPI Autopay or NACH) authorises automatic EMI deductions from your bank account on the due date each month — no manual payment needed.
Can I foreclose my loan early?
Yes. You can foreclose after paying 1 EMI. Foreclosure charges may apply depending on your scheme. Check your loan agreement for details.
What documents do I need?
Aadhaar card (for KYC), PAN card, and a selfie. Employment and income details are filled digitally — no physical documents required.
Loan Product
Consumer durable loan product available through this journey.
📱
| EMI Options | 0% EMI on select products |
| Approval Time | Instant approval in ~8 seconds |
| Tenure | 3–24 months |
| Down Payment | No down payment on select SKUs |
| Partner Stores | 1 lakh+ across India |
| Product Categories | Mobiles, Laptops, TVs, Appliances |
| KYC Required | Aadhaar + PAN (digital) |
| Disbursement | Direct to merchant within 2 hours |
App Navigation & UX Features
Key UI components and navigation patterns in the loan journey app.
☰
- 🏠 Home tab: Journey phases overview, welcome card
- ❓ FAQ tab: 6 common questions with expandable answers
- 📚 Loan Types tab: Consumer durable loan details
📊
- ✅ Completed steps shown with green checkmark
- 🔒 Gated steps (e.g. Soft CIBIL) shown as locked
- 🎯 Tap any unlocked step to navigate directly
⚡
- 💡 Each step has a unique AI tip (e.g. "Dial *#06# for IMEI")
- ⚡ Tap the Zap button in the bottom bar to reveal/hide
- 🎨 Tip color matches the current phase color
⏱️
- ⏱️ Timer resets on each step navigation
- 🎨 Timer color matches current phase
- 📊 Helps agents track time spent per step