Consumer Awareness

What does it mean when an account is Overdue (default)?

An account will be in default when the principal including arrears of interest and any other amount due is not paid as seen on the respective due date mentioned in sanction terms/loan agreement, such account shall be specified as overdue loan account. The Company shall flag the Loan account as overdue as part of the day-end processes for the due date, irrespective of the time of running such processes.

How long does it take to approve my loan?

On filling the application and meeting the eligibility criteria, your loan will be approved almost instantly. Once you complete your Net Banking Verification Process, the funds will be deposited into your account within 24 hours. You can check your approval status on the app. After that, you need to complete your KYC to process.

What documents do I need to submit to complete the loan process?

PAN Card, Identity Proof (Aadhaar, Driver's License, Passport, Voter id), Address Proof (Aadhaar, Driver's License, Passport, Voter id, Utility bills, bank statements), Net Banking Verification / Bank statement are the mandatory documents required to complete your loan process successfully.

What is the maximum loan amount that I can get?

You can get a loan of up to Rs.2,00,000. The final amount approved for you will depend on your income, credit score, and a few other factors.

What is a Revolving Credit?

A revolving credit is a pre-set borrowing limit that can be tapped into at any time. The borrower can take money out as needed until the limit is reached. As money is repaid, it can be borrowed again in the case of an open-ended line of credit. It is an arrangement between a financial institution and a customer that establishes the maximum loan amount that the customer can borrow. The borrower can access funds from the existing credit at any time as long as they do not exceed the maximum credit limit.

Can I use the loan amount to pay off my overdue EMIs on other loans?

Yes, you can pay your EMIs using our loan products. It provides you with the flexibility to transfer your approved loan to your own bank account. Once the money is in your bank, you have complete control over what you want to do with it.

Will my credit score be impacted if I don't repay on time?

Our products are truly flexible in terms of the repayment amount. When you're unable to repay the monthly instalment in full, it allows you to repay only the minimum amount. However, failing to make a payment on the due date will impact your credit score. Whereas, maintaining healthy credit behavior will significantly boost your credit score.

I might need more funds in the future, will I need to apply again?

No. Our line of credit app allows you to borrow money and repay it, often on a revolving basis without having to apply for a new loan ever again. Additionally, we also provide our customers with a pre-approved increased credit limit based on their usage, repayment history and few other parameters.

Do I need to follow a repayment cycle?

You will be expected to follow a repayment cycle, where the due date will be flexibly generated based on your income cycle. If you need to change your repayment cycle, you can do so by reaching out to our customer support team at +91-40-4617-5151 & initiate the request. Have further questions? Email us at [email protected]

What is the repayment plan?

The statement for that period will be generated 10 days ahead of the due date, for all the credit transactions done during that cycle, and will be communicated to the customer. The customer can pay just the interest amount or choose to pay any other amount or pay off the outstanding principal. The due date of a customer is generated based on the date of income, helping the customer make payment when money is available.

How is the daily balance calculated?

The interest will be calculated on a daily basis for the outstanding principal amount in the cycle for every day. Please verify our 'Interest rate policy' to clearly understand the cost of loan.

How can I connect with the customer support team?

Please feel free to call us on +91-40-4617-5151. If you're unable to reach us via call or drop an email at [email protected].