EMI Payments FAQs

What is an EMI?
EMI refers to Equated Monthly Installment. It simply refers to a fixed amount paid by you (borrower) to lender at a specific date every month. EMI enables y...
Thu, 6 Jun, 2024 at 1:44 PM
How can I make my EMI payments?
We provide our customers with various options to pay their EMI's like: Inside Application: UPI Apps : Payment via various UPI apps like Phonepe, Gp...
Sun, 9 Jun, 2024 at 8:28 PM
What will be my EMI amount?
The EMI amount is calculated by the system and displayed instantly at the time of loan application itself. The EMI amount depends on the loan amount, intere...
Thu, 6 Jun, 2024 at 1:45 PM
How will I be intimated about upcoming EMI payments?
You will be receiving automated email & SMS before your EMI date on your registered email id & mobile number. Being said that, due to technical or n...
Thu, 6 Jun, 2024 at 1:45 PM
Will late payment of my monthly installments/EMI invite any penalty or charges?
Well, a late repayment always invites a late penalty charge along with it. The charge however, will depend on your outstanding amount and also the number of...
Thu, 6 Jun, 2024 at 1:45 PM
What happens if I don't pay my monthly installment/EMI?
Like any other legal agreements, all loans are legally binding and governed under the RBI regulations wherein not paying your monthly installment/EMI is a c...
Thu, 6 Jun, 2024 at 1:46 PM
What happens if I am registered for auto-debit and my savings account doesn't have the minimum balance at the time of due date?
The required amount of balance must always be maintained at the time of due date for clearing the monthly auto-debit payment, if you have registered for aut...
Thu, 6 Jun, 2024 at 1:47 PM
Can I extend the tenure of my loan after the loan is approved?
You cannot extend the tenure after a loan has been approved.
Thu, 6 Jun, 2024 at 1:47 PM
What happens if I skip one monthly installment/EMI? Can I pay it all at once in the next month?
We strongly advise against skipping the payment of your monthly installment/EMI. Defaulting on an installment will dip your credit score and you will be cha...
Thu, 6 Jun, 2024 at 1:48 PM
Once I pay all my monthly installments/EMI, how do I get a confirmation on loan closure?
Once you have paid all your EMIs and outstanding dues, we will send you a No Objection Certificate (NOC). The NOC will be sent to your registered email id a...
Thu, 6 Jun, 2024 at 1:48 PM