1. What is auto-debit (ECS/NACH mandate) in my loan account?
Auto-debit (ECS/NACH) is a facility that automatically deducts your EMI from your registered bank account on the due date to ensure timely repayment.
2. Can I request to cancel or disable the auto-debit facility after my loan is approved?
Yes, you can request cancellation of the auto-debit setup. Once you confirm that you do not wish to use this facility, we will escalate the request to the concerned team for deactivation.
3. Will disabling auto-debit affect my current loan?
No, disabling auto-debit will not cancel your active loan. However, you will need to ensure timely manual repayments to avoid penalties, late fees, or negative impact on your credit score.
4. How can I make repayments if auto-debit is disabled?
If auto-debit is deactivated, you can make payments using alternate methods such as:
- Net banking
- UPI
- Debit card payments
Details will be shared once your request is processed.
5. Can I reactivate auto-debit later if I change my mind?
No , It can be activated only while applying for a loan for the first time.
6. Why was my request to cancel auto-debit not processed immediately?
Auto-debit deactivation requires confirmation from you and approval from our internal team. We will process the request once your confirmation is received.
7. Will I still receive loan offers if I cancel auto-debit?
Yes, loan offers will still be available. If you do not wish to avail of any future loan offers, you may inform us, and we will update your preferences accordingly.
8. Can I cancel future loan offers along with auto-debit?
Yes, you can choose not to avail of future loan offers. Once you confirm, we will update your account to ensure no pre-approved offers are activated.
9. What should I do if auto-debit continues after I requested cancellation?
If auto-debit deductions continue after cancellation confirmation, please reach out to us immediately with transaction details, and we will investigate and resolve the issue.
10. Whom should I contact for further help regarding auto-debit cancellation?
You can contact us on 022 6987 5175 (Monday to Friday, 8:30 AM – 5:30 PM) or reply to this email for assistance.