Enabling Auto-Debit (E-Mandate) is a necessary step that requires your authorization. Rest assured, that an amount of ₹15,000 will not be deducted at this stage. Once your loan is approved, the auto-debit process will be initiated on the due date for the installment amount. Only the due installment amount will be debited, with no additional charges.
You may notice that the system displays an end date of 2050 for the Auto-Debit. This is simply a standard display format. Auto-Debit will be automatically disabled once your loan is fully repaid.