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Freecharge Personal Loan
Freecharge Personal Loan
Can I decide the EMI date ?
No, currently we don't allow customers to select the EMI date. Payment has to be made on the date as mentioned in the Loan Agreement to avoid late fee charges.
What is Auto-Debit or NACH ?
NACH/ Auto- debit functionality is a process of collecting recurring payments like EMIs, bills, etc. from customer's account post taking customers consent. It helps automatically deduct funds from a large pool of customers a single settlement
What are the bounce charges that will be levied in case NACH payment fails
We strongly advise you to maintain requisite balance in your account to avoid failure of the payment. Currently, we charge a flat fee of Rs. 400 + taxes (if applicable).
What are the late payment fees that will be levied in case I miss the EMI date ?
We strongly advise you to pay on time to avoid late fee charges. You will have to pay penal charges which is levied on daily basis in case you miss paying the EMI on time.This fee will add up until you make the payment for that month.
Can I make part payments of the EMI amount ?
Part-payment functionality is not enabled at the moment. We will keep you posted once the same goes live!
Which Bank is the lending partner for Freecharge?
Axis Bank is the lending partner for Freecharge. Please find further details on https://www.axisbank.com/retail/loans/personal-loan/personal-loan-lsp
What happens if I am unable to complete the loan application and get stuck on a specific screen ?
That's quite unfortunate to occur. However, you can re-initate the application or reach out to Freecharge's customer support team at care@freecharge.com for quick resolution.
Why is my NACH amount higher than the EMI amount ?
Mandate to debit the account is taken for slightly higher amount that the EMI to accomodate the missed EMI amount, bounce charges, penal fee & any other charges if applicable.
Why is my last EMI value higher or lower than all other EMIs ?
Last EMI value may slightly vary depending on the loan disbursement date. In case you need further clarification, reach out to Freecharge customer support team at care@freecharge.com
I already have one loan running with Freecharge. Can I apply for another one ?
Not at the moment. But we're working on building a an exciting proposition for you. We'll keep you posted on further updates!
