About loans
What is the loan tenure?
Loan tenures can be upto 90 days, including extensions. There are no charges for pre-payment.
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 twice per loan.
How do I get larger credit limits on StuCred?
In time, through frequent use of the StuCred app, higher credit limits can be unlocked. The algorithm takes into consideration factors such as loan frequency, on time payments etc. StuCred aims to help students build their credit score through ...
How can I check my credit limit?
Go to the StuCred app, under profile section - click on credit limit to see where you are, and how much you have progressed.
Do you charge any fees?
We charge a fixed service charge (including all taxes) for the usage of the app which helps us run our platforms and offer services like 24/7 support. The amount is clearly mentioned at the time of taking the loan and deducted from the disbursed loan ...
How does StuCred decide my credit limit?
StuCred decides your credit limit based on it's credit risk profiling of your college.
Why is my Credit Limit not getting enhanced?
Before the limit is enhanced, we look into a various factors like timely repayment, how many times have you missed the initial deadline and other credibility ratings. Rest assured our systems will let us know when the limit can be increased for you.
How is the money/loan disbursed?
Approved Loan of an applicant will be disbursed securely directly into VPA (a.k.a UPI ID) entered by them on the StuCred app.
How many loans can I take?
With StuCred, you can borrow in multiples of Rs 500, with a minimum loan amount of Rs 1000. You can take as many loans as you like, within your credit limit.
What is the interest on the loan?
StuCred offers loans at 0% interest rate.
Do you have any hold/pending status on loans?
If a loan transaction is in pending status, the loan status too could be pending, temporarily. This will soon shift to failed/success, once an update is received from our banking partner.
Do you require a guarantor for the loan?
Nice question! We want to keep the process simple and believe in our clients and hence we do not require any guarantor for the loan to be sanctioned to you.