Change in EMI Repayment Instructions

Want to update how your loan EMIs are repaid? With HDFC Bank MyLoans, you can conveniently request a change in your EMI repayment instructions online, helping you keep your repayment details aligned with your preferred payment account or method.

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How to Change EMI Repayment Instructions via MyLoans?

You can easily request a change in your EMI repayment instructions by following these steps: 
 

  • 1. Open MyLoans and enter your registered mobile number and CAPTCHA.  
  • 2. Enter the OTP received on your registered mobile number. 
  • 3. Select the relevant loan account from the list. 
  • 4. Navigate to Service Requests > Change in EMI Repayment Instruction. 
  • 5. For an HDFC Bank account, select the HDFC Account Number tab and update the account number. 
  • 6. For a non-HDFC Bank account, select the Non-HDFC Bank Customer tab and enter the Bank Name, Account Number, MICR Code and IFSC Code. A charge of ₹500 per loan is applicable. 
  • 7. For a change to a non-HDFC Bank account, visit the Retail Loan Service Centre with the following: 

    • a. Duly signed letter/authorisation letter 
    • b. ₹500 swap charges 
    • c. 1 EMI Post-Dated Cheque (PDC) 
    • d. 2 Security PDCs 
    • e. 2 ACH Mandate Forms 
    • f. Bank statements for the last 3 months for the non-HDFC Bank account 
  • 8. You may also explore and select relevant Products & Services, if required. 
  • 9. Submit the declaration to proceed. 
  • 10. A Service Request (SR) number will be generated. The request will be processed within 2 working days. 

Know More About Changing Your EMI Repayment Instructions

What is a Change in EMI Repayment Instructions?
 

Change in EMI Repayment Instructions allows you to update the bank account used for your loan EMI repayments. This can be useful when you switch your primary Bank Account, close an existing account or simply want your EMIs to be debited from another account. 
 

Why Update Your EMI Repayment Instructions?
 

Keeping your repayment details up to date helps ensure that your EMIs are debited from the intended bank account and supports timely loan repayments. 
 

Benefits of Updating Your EMI Repayment Instructions
 

  • Use Your Preferred Account: Choose an eligible bank account for your future EMI repayments. 
  • Keep Repayment Details Updated: Ensure your loan records reflect your current repayment account. 
  • Support Timely Payments: Updated instructions can help avoid repayment issues arising from an inactive or closed bank account. 
  • Convenient Request Process: Initiate the change through HDFC Bank MyLoans and track it using the generated Service Request number. 

Frequently Asked Questions

Go to MyLoans → Service Request → Change in EMI Repayment Instruction and follow the steps displayed on the screen.

Select the HDFC Bank Account Number tab and enter the HDFC Bank Account number you want to use for EMI repayment.

Select the Non-HDFC Bank Customer tab and provide the following details:

 - Bank name
 - Account number
 - MICR code
 - IFSC code

A charge of ₹500 per loan is applicable for changing the repayment account to a non-HDFC Bank account.

You need to carry the following:

 - Duly signed letter or authorisation letter
 - ₹500 swap charges
 - 1 EMI post-dated cheque (PDC)
 - 2 security PDCs
 - 2 ACH mandate forms, available through the provided link
 - Bank statements for the last 3 months for the non-HDFC Bank account