What is cooling off period?
A cooling-off period is a time period during which a borrower can exit the loan by repaying the principal amount and the proportionate annual percentage interest rate without any penalty
Related Articles
When can the cooling off period be availed on StuCred?
Cooling off period on StuCred can only be availed within 3 days from the date of loan borrowed. Please note that the day of loan borrowed is counted as day 1 of the 3 day cooling period. Rest of the details and payment information will be sent to you ...
Can I extend my loan?
If you wish to extend your loan period, simply request for an extension on the loan page. The tenure may be extended four per loan.
What if I want StuCred to erase all my data?
As a RBI regulated entity we are under regulatory obligations to keep your data for a minimum of 5 years. These retention requirements supersede any right to erasure requests under applicable data protection laws (such as GDPR). We cannot therefore ...
What happens if I don’t pay on time (default)?
If you are unable to repay the loan by the due date, you can use the extension feature available in the app—provided you apply before the due date. Failure to repay on time will result in a default service charge and a daily late fee. You are allowed ...