What are the minimum documents required for loan approval?
- PAN Card
- Aadhar Card (Address Proof)
What other documents may be required basis my profile?
To complete Digital KYC, only Aadhar & PAN is required.
Is Income Proof like a Bank Statement necessary for availing loan?
Income Proof is not required for all customers. Only for some high value loans, depending on customer’s credit profile, he/she may be asked to submit Income Proof by linking his bank account so that the bank statement can be fetched & verified online.
Is there a requirement of security/guarantor?
No, we do not require any security or guarantor for approving your loan. Once we verify your basic information & complete your digital KYC, your loan will be approved by the system, based on profile eligibility.
If I do not possess a PAN Card and have never applied for it, can I still avail loan?
Unfortunately, we need to validate your PAN Card number to process the application further. You are required to hold a valid PAN card number in order to complete our loan application process.
I do not have my original PAN Card but a photocopy of the same, am I still eligible for
the loan application process?
No worries.To process digital KYC, typically, providing only the PAN (Permanent Account Number) may be sufficient.
If I do not possess Aadhar Card and have never applied for the same, can I still avail loan?
Unfortunately, we need to validate your Aadhar Card number to process the application further. You are required to hold a valid Aadhar card number in order to complete our loan application process through E-KYC.
I do not have my original Aadhar Card but a photocopy of the same, am I still eligible for the loan application process?
No worries, to process digital KYC using Digilocker, typically, providing only the Aadhar Card Number and possessing the Aadhar link mobile number may be sufficient.
When I am trying to apply for a loan, I am getting a message stating that my Aadhar/Pan Card already exists. What is to be done in such a case?
No need to worry if you get such a message. This means that you already have a profile created with us in the past and have used your Aadhar/Pan number in that profile. We request you kindly to get in touch with our customer service desk so that we can update your current contact to let you use your original account instead of creating duplicate accounts as we reject loan application on basis of duplicate accounts as well.
Once I take a loan, do I need to re-submit my documents when I wish to re-apply for a loan the second time?
No, you do need to submit any documents again while re-applying for every new loan. Being said that, as per applicable laws, we will periodically conduct re-KYC for your account and you will be intimated about the same in advance.
I have multiple bank accounts. Which bank statement should I upload?
For higher loan amounts, online income verification may be required. You can submit bank statement of any of your active bank account that has highest balance & maximum transactions.
Do I need to submit Bank Statement in PDF format or Hard Copy?
We do not require you to submit Bank Statement in PDF copy or Hard Copies. We enable secure linking of your bank account for instant access to the last 6 months’ bank statements. This is a One-time access with no disclosure of other banking data and is secured by authorized Bank Account Aggregator https://sahamati.org.in/, that is recognized by many banks in India.
Which documents can be submitted as Address proof if I live in my own family owned, or rented house?
– Only Aadhaar card for address proof is mandate, which will be Verified through DigiLocker for completing your Digital KYC.
Loan Application Status
How do I check the status of my loan application?
The status of your Loan Application is displayed to you on the digital lending platform from where you had applied for the loan (Kissht App or Ring App, respectively).
What is the process for loan approval?
- Download and log in to our digital lending platform (Kissht App or Ring App, respectively).
- Fill in basic information.
- Complete Digital KYC.
- Based on eligibility, you will be able to view eligible loan offers with details and pricing.
- Add your bank details for disbursement.
- Register for E-NACH (required only for higher loan amounts).
- Complete income verification (required only for higher loan amounts).
- Based on eligibility, once your loan is approved online, you will be able to get disbursal of the loan into your bank account.
Are there any hidden charges that I should be aware of?
No, there are no unpleasant surprises in the form of hidden charges. Our pricing is absolutely transparent.
What are the various reasons by which a loan application can get rejected?
We have multiple Financing Partners and we do our best to ensure that you get a loan approved from one of our Financing Partners. The loan approval/rejection is solely at the discretion of our Financing Partners. Thus, if your profile doesn’t meet the credit eligibility criteria set by our Financing Partners, then your application may get rejected.
What can I do if my loan application is cancelled/rejected due to non-eligibility?
Kindly re-apply after 3 months to see if you have become eligible, as our system keeps updating your eligibility status every 3 months.
How do I check the details of my existing loan?
You can login to our digital lending platform from where you had applied for the loan (Kissht App or Ring App, respectively) and check your existing loan details under “My Loans” section in the Main menu. It will enable you to check all loan related details like EMI amount, EMI date, total outstanding amount, link for online payment and much more.
How do I change my personal details such as my address/mobile number/ bank account number? Do I need to send any proof?
For any changes in contact information or personal details, feel free to get in touch with our customer service desk.
Pre-Payment / Foreclosure
Can I pre-pay all my monthly instalments/EMI?
Yes, you can pre-pay all your monthly instalments/EMI online, without being penalized.
Can I foreclose my loan?
Yes, if your loan is financed by our NBFC “SiCreva Capital Services Pvt. Ltd.’, then you can foreclose your loan anytime during the tenure of the loan. To avail foreclosure, you can get in touch with our customer service desk so that we can generate a foreclosure link and share the same with you.
Are there any charges for foreclosing my loan?
Good news! As an initiative towards providing better customer service, we have waived off the foreclosure charges on all loans/credit financed by our NBFC (i.e. Si Creva Capital Services Pvt. Ltd.).
Note: If you loan is financed by any of the other financing partners, then the foreclosure charges, applicable if any, will be as per the terms & conditions of the respective financing company, as mentioned in the loan agreement.
How to foreclose my loan if it is financed by other financing partners?
For foreclosing your loan which is financed by our other financing partners, you can simply call the customer service desk of the respective financer and request for the same. They will provide you with a foreclosure payment link or NEFT details so that you can pay the foreclosure amount using the same
If you do not have the customer care details of your respective financer, or if you are unable to get in touch with them, we can co-ordinate and help you get the necessary details from them. Just get in touch with our customer service desk.
Cancellation & Refund Policy
Can I cancel my loan transaction? If yes, how?
While we are always eager to serve our customers, if at all should you ever feel the need to cancel your loan application which is in process with us, you can reach to our customer service desk.
What is Cooling off period?
“Cooling off period” means a period of time from the date of disbursement of loan/credit, within which the borrower can choose to close the loan by returning the disbursement amount along with the applicable Annual Percentage rate (APR) for the number of days taken to repay. The cooling-off window is determined to be within 3 days from the date of disbursement. Cooling Off period is made available for customers who take disbursement of loan and immediately choose to return the loan due to non-suitability of loan amount, tenure, interest applicable or similar reasons.
What are the charges for EMI Auto-Debit Bounce?
Yes, every bounce of EMI Auto-Debit will lead to a charge of Rs.100 on your loan account. Applicable in cases were EMI payment by Auto-Debit/ECS has bounced due to negligence of borrower for ex: insufficient balance in bank account / Bank Account closed by customer, etc. Kindly note that your bank may also separately levy their own charges for EMI Bounce on your bank account.
What are the charges for late payment of EMI?
The late payment charges are as follows:
Daily Penalty Charge:
|Daily Penalty Charge
|APR for Daily Penalty Charge
|Rs.7000 – Rs.7999
|Rs.8000 – Rs.8999
|Rs.9000 – Rs.9999
|Rs.10000 – Rs.10999
|Rs.11000 – Rs.11999
|Rs.12000 – Rs.12999
|Rs.13000 – Rs.13999
|Rs.14000 – Rs.14999
|Rs.15000 – Rs.15999
|Rs.16000 – Rs.16999
|Rs.17000 – Rs.17999
|Rs.18000 – Rs.18999
|Rs.19000 & above
One-time overdue charge:
1. Customers with overdue amounts less than Rs. 7000 will be charged a one-time overdue charge of Rs 150 and per day penalty charge of Rs 50.
2. Customers with overdue amounts greater than or equal to Rs. 7000 will be charged a one-time overdue charge of Rs 200 and per day penalty charge as mentioned in the “Daily Penal Charges” grid
- One-Time Overdue Charges & Daily Penalty Charges will be applied if the EMI repayment is done after the scheduled due date or if otherwise applicable as per the terms of the Financing Document (collectively referred to as “Overdue Penalty Charges”).
- 18% GST on “Overdue Penalty Charges” amount is additionally applicable. System will auto-calculate Overdue Penalty Charges + GST & display only the total to you.
Can customers obtain Fair Practices Code, Loan Agreement, Sanction Letter and other loan-related documents in vernacular language?
Yes. To obtain a copy of Fair Practices Code, Loan Agreement, Sanction Letter and other loan-related documents in vernacular language, you can place a request for same with our customer services team at firstname.lastname@example.org
How to change the bank details on my ECS mandate?
For any changes in ECS Mandate, feel free to get in touch with our customer service desk.
What if I am not satisfied with the response provided by the Customer Service Desk?
Though we doubt that your queries wouldn’t be resolved by our dedicated customer service desk, you could always ask for a call back from the Customer Service Manager and within 1 hour to a maximum of 48 hours, our Customer Service Manager shall personally call you back with a final resolution on your query/problem. Kindly refer to our ‘Customer Grievance Redressal Mechanism’ to know more. Click here
Who are your lending partners?
We have partnered with multiple regulated entities like NBFC’s and Banks to provide lending services to our customers. The list of our lending partners can be viewed here Click here
Do you access my Credit Score?
Yes, our Financing Partners are registered NBFC’s and Banks and they access your Credit Score as part of the credit profile verification and underwriting process. Your credit score determines your eligibility for loan and also it determines the loan amount, interest rate and loan tenure that will be available for you.
What Are the different Credit Bureaus that you report my loan data to?
In India, there are 4 well known Credit Information Companies that track the Credit Score of an individual. These are CIBIL, Experian, Equifax and CRIF Highmark. These are entities regulated by law and have all the loan and repayment information of an individual, be it a credit card use, a bank loan, or a telecom postpaid connection. We submit your loan related update to all of these 4 credit bureaus as part of our standard operating procedure.
How Can I Possibly Enhance my Loan/Credit Limit?
To begin with, every customer has a set maximum loan/credit amount up to which he/she can avail loans from us. There is a good chance of this amount increasing, when you availing more loans and make timely repayments. However, this also depends on other factors like your monthly salary, credit score, repayment history with other lenders and a host of other information that we get from you when you create your profile. While making timely repayments increases the probability of enhancing your loan/credit limit, it does not guarantee the same.
How is my Credit Score connected to the loan that I avail?
Once you take a Loan and repay it back on time, your credit report reflects the same. This helps you avail a bigger loan at a later stage from us (subject to eligibility) or from other banks or other financial institutions and also you may also get it at a lower interest rate. However, if you don’t repay the loan on time or default on the same, then your credit score may get negatively impacted. And, it becomes nearly impossible to avail a loan from any other bank due to your poor repayment history. Even if a loan is approved, the interest rate that will be charged will be considerably higher.
What is the typical processing time for updating a customer’s payment status with the credit bureau?
We submit data to all credit bureaus once every month and the Credit bureaus take around 45-60 days to update the same in your credit report. Please download your latest credit report from the official websites of the Credit Bureaus. Free credit reports available on 3rd party websites usually reflect old data and they may take around 2-3 months to reflect latest changes.
Privacy & Security
Can members of my family or my friends call and get information on my existing loans?
We value the privacy and security of your financial transactions. As a result, account related information is only provided to the customer and not to any family member, friends or 3rd party.
Is it Safe to link my bank account for Income Verification?
As part of basic documentation for loan approval, some customers who apply for higher loan amounts are required to provide bank statement as income proof. Being said that, we do not require you to submit Bank Statement in PDF copy or Hard Copies for Income Verification. We enable secure linking of your bank account for instant access to the last 6 months’ bank statements. This is a One-time access with no disclosure of other banking data and is secured by authorized Bank Account Aggregator https://sahamati.org.in/, that is recognized by many banks in India.
For the convenience of our beloved customers, we provide the facility to instantly link your bank account to your loan application so that you need not upload any bank statements separately. Just by linking your bank account, we will be able to fetch your bank statement for last 6 months instantly. Kindly note that we only get one-time access to your latest bank statement and no other banking data is revealed to us. The access is logged out immediately after the linking of statement is completed. This service is completely secured by authorized Bank Account Aggregator https://sahamati.org.in/, which is recognized & authorized by many banks in India to provide this service.