Repayment Process

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    4.1 How can I repay the loan?

  • You can anytime repay the loan thru our mobile app. Else on due date, we use ECS/NACH (National Automated Clearing House) to take repayment automatically. On the repayment date, we will debit your bank account registered with us. Just make sure that you have enough money in your bank account on that day.

    4.2 From which bank account will my money be deducted/Can I change the bank account from which my money will be deducted?

  • Your repayment amount (including all interest and charges) would be deducted only from your salary bank account registered with us. In case you change your salary bank account, pls share new salary bank account statement with at least one salary credit at care@earlysalary.com and we would change the same. You would need to sign new NACH mandate form and once it is registered, we would deduct money from new Salary bank account.

    4.3 Can I Pre-Pay my loan/Will I be charged for repayment?

  • Rejoice! There is no pre-payment fee at the moment. You can pre-pay your loan any time before the repayment date through net banking. Tap the Repay button on the mobile app. You will be charged only for the amount outstanding so by prepaying, you can save money!

    4.4 Can I Pre-Pay using a credit card?

  • Sorry pal! As per RBI guidelines, you can’t pay your dues using a Credit Card.

    4.5 Can I post pone my repayment date?

  • No you can’t! You have to repay on due date only.

    4.6 What if there isn’t enough money in my salary bank account on my repayment date?

  • We suggest that you maintain enough money in bank account as we would send debit instruction to your bank on due date. In case NACH is bounced, we levy NACH/ECS charges for every bounce instance and you may also be levied with interest on delayed payment.

    4.7 Is repayment through EMIs possible?

  • No, once a due date is chosen, we do not allow repayment in EMI.

    4.8 What happens if I do not repay on time? Does EarlySalary report to the Credit bureaus?

  • Yes, our lending partners are RBI registered NBFC/Bank, they are obligated to report our Loan, its history, the late payment and non-payment of dues to credit bureaus such as CIBIL and Equifax. This will impact your chances of getting banking products. By paying on time, your score improves and so does your chances of getting a credit card or any loan!!!

    4.8 What happens if I have a complaint and I wish to escalate it?

  • Oh ho!

    We are sorry to see you in this situation. Our team would like to help you ASAP to put a smile back to your face.

    You can also ping us to chat with us on the App.

    Write to our Complaints Management Cell, at Help@EarlySalary.com and we will get resolve your query in not more than 3 business days. If you are still not satisfied with the action, you can write to our Grievance Redressal Officer at Complaints@EarlySalary.com.

    Please do quote your Customer ID in all your interactions with us.

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