Auto-Debit (E-Mandate) is a facility that allows you to schedule recurring payments for auto-deduction on a set date. It will automatically deduct an amount that you pre-set. Therefore, this facility lets you transfer the stress of remembering multiple payment dates every month.
To complete your loan application, you must enable the Auto-Debit option during the application process. You can do it in 2 easy steps:
- Click on the "Enable" button during the application process.
- Choose the payment method to use as Auto-Debit and click "Next".
You will see a Success screen if the request for enabling Auto-Debit is successful. Click on the "Next" button to proceed with your application.
If your loan application is rejected, Auto-Debit (E-Mandate) is automatically disabled.