Get instant, collateral free study loans for college

Unlock your potential with Propelld’s customisable student loans for college fees. After all, you deserve the career of your dreams.
Why choose Propelld Loan for College?
Instant loan sanctions within 48 hours, digitally
No more endless waiting for bank approvals, get the fastest loan sanctions through a 100% digital process
Collateral free loans with upto 100% fee financing
Collateral free loans with up to 100% fee financing
We go beyond traditional credit parameters
Propelld also considers a student's potential and future potential through their choice of degree
Maximise your potential with our
College Loans
Study now pay later
Take advantage of the moratorium period while you focus on your course
Tranche disbursal
Choose how the loan gets disbursed over the course to avail flexible EMIs
Step up EMI loans
Choose to pay a minimum interest amount per month during the course, and then pay full EMIs later
Standard Rate of Interest
Propelld offers a competitive rate of interest for its college
loans

100% digital

loan application process

We believe that you deserve the education you want, and provide funds within 48 hours. Here’s our 3-step process

Join 1 lakh+ students and advance
your education

"Opting for Propelld for my student loan was the best decision I took. The platform is simple, and the process is seamless. Excellent customer interaction and timely resolutions"

Karamveer
Rajiv Gandhi College of Engineering,
Bangalore

"My exams dates were near, I couldn't pay my fee, and my education loan application was rejected from significant places. However, Propelld team approved the student loan based on my academic performance."

Vanshika
Rajiv Gandhi College of Engineering,
Bangalore

"One of the best platforms for students for student loans. The best part is that now I can pay the fees in small installments according to my convenience."

Naman
Rajiv Gandhi College of Engineering,
Bangalore

I received great help from Propelld for my Mtech course at BITS PILANI. The student loan process was hassle-free, and it got approved instantly. All my queries were resolved on time. Thank you, Propelld.

Mallikarjun
bits
pilani
Frequently Asked Questions

How to update my mobile number / Email ID?

You can contact customer care and provide them with relevant details like institute name, loan amount and DOB for verification. After verification, if details are in order, the issue will be escalated to the tech team and what's necessary will be updated.

Can I change my bank account?

You are advised not to change your bank account once the loan application is completed. In case the change is almost necessary, the process will take a minimum of 3 months.

How can I get my statement of account (SOA)? How long does it take?

You can get in touch with CX support. SOA is provided by the NBFC, due to this it will take 2-3 working days.

I am not able to log in to the console because I'm not getting OTP. What should I do?

Try after 4 hours from your initial attempt. If the issue persists, contact customer support, and the issue will be escalated to the tech team.

My loan has been completed but why is it still active?

If you have no dues left, you need not have to worry about this.

Is Moratorium possible?

You should request a moratorium before disbursal of your loan amount. The maximum duration is 2-3 months and during this period no calls or reminders will be sent to you. Note that after disbursal it is not possible to grant a moratorium.

What if the institute is not responding to my calls?

We understand your concern. But, please note that we are different from the institute. We have partnered with them to offer you the best financing solutions for your education. If you have any concerns regarding the institute, you will have to personally get them solved with the institute.

Will your study loan help with my tax exemptions?

No, it won't. The study loan we provide is a personal loan for your education which is not tax exempted.

Why is it reflecting as PL in my CIBIL report

As mentioned in the loan agreement, the study loans we provide are personal loans that you can make use of for your education. In case of any confusion, please read your agreement.

If it is a PL, why it wasn't transferred into my account?

The loan we provide is a personal loan for your education financing. If it gets transferred to your account, we cannot control the end use of it and hence we prefer to transfer it to the institute's account.

What are the documents required for the loan application?

You’d be asked to submit one or more documents from this list:
• ID proof (Aadhaar, PAN, Driving License, Voter ID, Passport)*
• PAN*
• Bank Statement
• ITR
• Salary Slip
• Marksheet

What if I have uploaded the wrong documents?

In case you have uploaded the wrong documents, please inform the same to Customer Care immediately. Mostly, you will be advised to start the application process from the beginning with proper documents.

Not receiving OTP while applying for loan. 

If you do not receive an OTP, try again after 4 hours(it could be a tech issue or a server issue.) If you are unable to receive one even after that, contact customer support and they will resolve the issue in a short time. 

I'm facing errors while submitting details/KYC process.

If you ever face any sort of error while submitting details or while the KYC process, immediately take a screenshot of the error. And send it to the customer support email followed up by a call.

My EMI has been deducted twice this month, will the extra payment be refunded?

In case of double payment, the extra EMI will be adjusted(considered) with the upcoming month’s EMI. If the customer disagrees with this arrangement and demands a refund, the refund will be initiated after 20-30 days.

 I have paid all EMIs, but still, the amount is being deducted from my bank account. Will I get a refund?

If you have paid all EMIs, the amount will be refunded within 7-10 working days.

The payment link is not working, what should I do?

If the payment link provided to you is not working, you can also find an EMI payment link in your Propelld dashboard. You can log in using your registered number.

I'm not able to receive an OTP while applying for the loan. What should I do?

If you do not receive an OTP, try again after 4 hours(it could be a tech issue or a server issue.) If you are unable to receive one even after that, contact customer support and they will resolve the issue in a short time.

 What if my NACH is not registered?

If your NACH is not registered, you have to manually pay your EMI by logging on to your Propelld Dashboard using your registered mobile number. However, to simplify your payment process, we recommend getting your NACH registered by contacting Customer Support.

Will my EMI get auto-debited? or do I have to make a manual payment?

If your NACH is registered, your EMI will be auto-debited. If not, you have to manually pay your EMI by logging on to your Propelld Dashboard using your registered mobile number. If you are not sure about your NACH status, please contact Customer Support to understand your loan.

 I want to change my tenure period. Is it possible?

No. The tenure period is set during the loan application process. Once the loan is approved and disbursed, it is not possible to change the tenure period.

What if i make the payment directly to NBFC?

Ideally, all the EMI payments should be made to Propelld. In case you make a payment to the NBFC, it won't be reflected on your dashboard until you get a confirmation from the NBFC, take a screenshot of your payment statement and send it to Customer Support. This will reflect on the dashboard only after 3 or more working days.

Will my excess EMI get refunded? When will it be refunded?

Yes, it will take a minimum of 15 working days.

 Will my advance EMI get refunded? When will it be refunded?

Yes, it will take a minimum of 7 working days after the institute's approval.

 My EMI got bounced and I am facing bounce charges, will it be removed?

No, If your EMI gets bounced, we cannot cancel the bouncing charges as it is Propelld charges plus bank charges.

Can you extend my EMI date?

It is possible to extend the EMI payment date before disbursal only for selected partnered institutions. After disbursal, it's absolutely not possible.

Can my delay charges be removed?

Once the delay charges are applied in reaction to the late payment, it's impossible to waive the delay fees.

EMI did not get auto-debited, facing delay charges because of it

Since it is an Auto Debit process, you are expected to maintain a sufficient balance in your account at least one day prior to your EMI date. If you face delay charges because of insufficient balance one day prior to the EMI date or on the EMI date, the delay charges cannot be waived.

What if it's a bank holiday and the auto-debit does not happen?

If there are bank holidays on your EMI date, the auto-debt will happen the next working day.

I have maintained sufficient balance, but still, EMI got bounced. Will I have to pay delay charges?

No. If your EMI gets bounced due to technical reasons you can send an Email to Customer Support with your bank statement. We will exempt such cases from bounce changes and delay charges.

When is my EMI date?

Please check your Dashboard for any details related to your Loan. All details will be provided in the agreement.

When will the amount get disbursed

Please check your Dashboard for any details related to your Loan. All details will be provided in the agreement.

 What is bounce charges? How much is it?

Bounce Charges mean an amount payable by the Customer to Propelld as a penalty when the NACH issued by the Customer for the payment of the EMI amount is not honoured by the Customer's bank and is returned unpaid. This happens when you have an insufficient balance in your account during auto-debit. The delay charges are 500 rs. Remember, bounce charges are separate from delay charges.

Why did I get a notice after making the EMI payment?

Notices are shared through courier and may take a longer time to reach you. Meanwhile, you might have made the payment. If you have made the relevant payment, kindly ignore the notice

Who do I talk to regarding the legal notices?

Drop us an email at support@propelld.com. We will guide you through the notice.

Can I skip any EMI payment?

No, It is not possible to skip any EMI payments. It will lead to delay charges and eventually affect your CIBIL Score.

Why did you present my NACH on a non-EMI date?

This is called a Blind NACH. As per the RBI guidelines, we can do this if you don't pay within the defined timeline.

What if the loan applicant is deceased?

We are really sorry for the loss. Unfortunately, the loan repayment must be made without fail. We will give you an extended time or you can ask the institute to repay.

I lost my job, can I please not pay the EMI?

We are sorry to hear that, but you cannot skip the payment. We may give you an extension based on verification of your job loss but you cannot be exempted from the payment.

 I did not get placed as per the promise by the institute. Should I repay my EMI?

No. Please understand that we are a different entity from your institute. We are just a loan partner to the institute. Since any promises regarding the course and placements were made by the institute, please take your concerns with them. In any circumstance, your loan with Propelld stands active.

Will I get a receipt after I make my EMI payment?

No. You won't receive any manual receipts. But you can find all your repayment details in your Propelld dashboard. Chek your dashboard for any details regarding your loan.

 I had kept a sufficient balance in the bank account, yet I got bounce charges and it has affected my CIBIL score. What should I do now?

Issues like this may rarely arise. In case of such an issue, send your CIBIL report to Customer Care and the changes will be reflected in a minimum of 3 months.

 I have paid all EMIs on time and yet my CIBIL is getting affected. What should I do?

If your payments are on time, you have nothing to worry about. You just have to send the screenshot of all your payments and if your case is genuine, your clean CIBIL will be updated by the end of that month.

 How do I cancel my loan?

Since the loan process involves the institute, we cannot initiate the loan cancellation from our end. Your cancellation request should be first raised to the institute and when the institute sends us a confirmation mail regarding the same, we will cancel it from our end.

What if the institute says no to cancellation?

We understand your concern. But, please note that we are different from the institute. We have partnered with them to offer you the best financing solutions for your education. If you have any concerns regarding the institute, you will have to personally get them solved with the institute.

 I received the confirmation from institute still why my loan cancellation is not initiated.

Just like how you received a confirmation, the institute has to send the loan cancellation confirmation to Propelld. Once we receive the confirmation email, we will initiate your cancellation.

How do I cancel my loan before disbursal?

Once your loan is approved, we need a confirmation mail from the institute regarding your loan cancellation. Only then we can cancel it before the fund gets transfered into your institute's account.

How much is my foreclosure charge?

Forclosure charges will be mentioned with relevant details in your agreement letter. Please read it carefully.

How long will it take to foreclose my loan?

It will take 24-48 hours after the payment confirmation.

When will I get the NOC letter? (foreclosed status / all EMIs paid cases)

NOC will be directly issued by the NBFC in 30-45 working days from the date of your last paid EMI or the date of your foreclosure.

Why does it take so long to share the NOC?

After the completion of your loan, there are certain internal processes to settle and tally the total transactions. After this, sharing NOC will depend on how much time NBFC takes to register the settlements. Hence the expected delay with NOC. 

Can I pay the foreclosure settlement directly to NBFC?

No. Since we have your loan account which is directly integrated with the NBFC, if you close with the NBFC, there'll be an accounting error. Therefore it's always advisable to settle it with us.

Can you remove foreclosure charges?

No, foreclosure charges cannot be removed.

Will I get a discount if I foreclose my account?

No, only the future interest rates will be waived off.

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