How to approve the mandate request?
To approve your mandate and activate your loan, follow these steps:
- Initiate Loan Application on the app.
- Complete the UPI verification prompt.
- Review and verify the Loan Sanction Letter.
- Enter the OTP received on your registered mobile.
- Approve the AutoPay request via your preferred UPI app by entering your UPI PIN (₹1 will be debited for activation).
🔒 Important Notes:
- Repaying your loan early will automatically revoke AutoPay.
- After 3 failed attempts, your account may be blocked.
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What is UPI mandate?
UPI Mandate allows you to pre-authorize a transaction and pay on a later date. This will prevent your loan from going into default.
What happens with the UPI mandate?
With this feature you can pre-authorise (Mandate) a transaction, for debit from your bank account later.
How do I enable the UPI mandate?
Go to your UPI App where your UPI ID has been created Check for the Alert popup or the notification Verify the Mandate by confirming your UPI pin number.
What is the charge for a failed mandate?
In case that EMI/mandate is not debited/fulfilled, a penalty of RS. 295/- is enforced. Also, sometimes the system does not enforce penalty month wise, rather it accumulates the penalty for a few months and then debit altogether. If you fail to ...
Is UPI mandate safe?
UPI mandates is a safe process and authorized by your bank and governed by RBI.