All FAQs we are often asked. If you can’t find your question here, email us at
support@propelld.com
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.
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.
You can get in touch with CX support. SOA is provided by the NBFC, due to this it will take 2-3 working days.
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.
If you have no dues left, you need not have to worry about this.
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.
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.
No, it won't. The study loan we provide is a personal loan for your education which is not tax exempted.
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.
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.
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
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.
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.
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.
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.
If you have paid all EMIs, the amount will be refunded within 7-10 working days.
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.
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.
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.
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.
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.
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.
Yes, it will take a minimum of 15 working days.
Yes, it will take a minimum of 7 working days after the institute's approval.
No, If your EMI gets bounced, we cannot cancel the bouncing charges as it is Propelld charges plus bank charges.
It is possible to extend the EMI payment date before disbursal only for selected partnered institutions. After disbursal, it's absolutely not possible.
Once the delay charges are applied in reaction to the late payment, it's impossible to waive the delay fees.
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.
If there are bank holidays on your EMI date, the auto-debt will happen the next working day.
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.
Please check your Dashboard for any details related to your Loan. All details will be provided in the agreement.
Please check your Dashboard for any details related to your Loan. All details will be provided in the agreement.
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.
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
Drop us an email at support@propelld.com. We will guide you through the notice.
No, It is not possible to skip any EMI payments. It will lead to delay charges and eventually affect your CIBIL Score.
This is called a Blind NACH. As per the RBI guidelines, we can do this if you don't pay within the defined timeline.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Forclosure charges will be mentioned with relevant details in your agreement letter. Please read it carefully.
It will take 24-48 hours after the payment confirmation.
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.
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.
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.
No, foreclosure charges cannot be removed.
No, only the future interest rates will be waived off.
Student-friendly private study loans for learners pursuing education from partner institutions with customized loan products through a fully digital loan process.
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