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Freecharge Personal Loan
Freecharge Personal Loan
What is an Account Aggregator
The Account Aggregator simplifies financial data sharing by allowing individuals to authorize an Account Aggregator (RBI regulated entity) to collect their information from different banks and institutions. The Account Aggregator then securely transfers this data to the chosen fi...
Do I have to pay processing fee on Personal Loan ?
Yes, we charge a small fee to process your loan application. Currently, it is fixed at 2% of the loan amount
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.
How can I pay the missed EMI ?
You can manually pay the missed EMI by clicking on 'Clear Dues' tab on dashboard or else we trigger payment links via SMS to repay the dues
How do I link my Salary Bank account with an Account Aggregator ?
All the accounts linked with customer's mobile no. will be shown on screen. Customer will have to select his/her salary account & proceed further to execute the loan.
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.
Is my data safe if I link my Bank account with Account aggregator ?
Account aggregators are extremely secure as the data flowing through them is encrypted and can be decrypted by regulated entities who've requested the data.
What happens if Freecharge app crashes while submitting personal loan application
Customers have an option to come back and re-start the journey in case the appliction crashes in-between.
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 am getting an error while setting up auto debit functionality. What could be the possible reasons ?
Uh Oh! It's quite unfortunate. Usually failure happens when there is a mis-match in the name of applicant updated in Aadhaar & Bank account, or when Bank account status is inactive, or the most common one is when servers are down. In case of weak servers, you can retry after some...
