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FAQ: Loans

What is Loans on Truecaller?

Truecaller offers term loans. A term loan is a loan that is repaid in regular payments over a set period of time. 

Who is eligible for Truecaller Loans?

At this point in time, we only provide salaried individuals with loans. In addition, here are the criteria we consider:

Our own proprietary credit scoring process.

Your Credit Bureau score. We don’t provide loans if your Credit Bureau score is less than 650.

Your monthly in-hand salary should not be less than Rs.13,500. If you’re self-employed, your monthly income should be a minimum of Rs.25,000

How do I know if I am eligible for a Truecaller Loan?

If you are eligible for the offer, it will be seen on the landing page under the banking tab of the Truecaller app.

 What is the amount I’m eligible for?

The amount offered is between Rs.10000 to Rs.5 lakh. The actual amount you’re eligible for will be displayed in the app.

Are there any charges/fees for using Truecaller Loans?

We only charge a one-time processing fee that’s dynamically calculated. For instance, if you’ve borrowed Rs.50,000 as a loan, the applicable processing fee will be deducted from the loan amount while the remaining funds will be transferred to your account.

What Are The Steps I’ll Need To Follow To Get A Loan From Truecaller?

You can get an instant loan on Truecaller without any paperwork by following these steps:

  1. Complete and submit your loan application on the app.
  2. Once you’ve submitted your loan application, we’ll go through your documents and assess your creditworthiness along with other important details on your application.
  3. Post the verification process, we’ll send you a NACH form, which you’re required to print, sign on, scan, and send back to us. This NACH form is to enable the auto-debit facility for your bank account so you can pay your EMIs on time automatically.
  4. On receiving your NACH form, we’ll send you a loan agreement on the app. You’ll need to review and submit the agreement. Post this, your loan amount will be credited into your bank account in a few hours.

What are the unique features of Truecaller Loans?

Instant Loan withdrawal when you need it - anytime, anywhere

No prepayment fees.

Flexible EMIs as per your convenience

Where to apply for a Truecaller Loan?

If you have a Truecaller Loan offer, you will see it on the landing page under the banking tab of the Truecaller app for pay registered users & under the payments tab for non-pay users. Click on the Truecaller Loan card, and complete the sign-up process in the app. Once we receive the documents, we will enable Truecaller Loans for you and the money can be withdrawn anytime you want.

Can I Get Multiple Loans At A Time From Truecaller?

No, we don’t provide multiple loans at the same time. However, you can finish your existing repayments and start a fresh loan whenever you need to.

How do I pay my monthly EMI?

The loan EMI will be automatically deducted from your bank account. This is done only after you’ve authorized us to deduct the proposed EMI amount that’s specified during the loan request process in the app.

What is NACH?

National Automated Clearing House (NACH) is a mandate from you, telling your bank to make regular monthly payments on your behalf. Once set up, it is an easy and automatic method to pay the EMI.

Will you send EMI reminders?

We will send you EMI reminders 2 days before the EMI due date & on the EMI due date as well.

Where can I see my payment due date?

The EMI due date will be updated on the Truecaller Loans card on the landing page under the banking tab of the Truecaller app.

 What happens if I don’t pay my EMI on time?

We do not charge any late payment fees. However, paying the EMI is very important in order to maintain a healthy credit score.

Can I change my repayment date?

Currently, the EMIs are collected only on the 5th of every month.

How can I make payments in case of failure of my NACH registration?

In case of failure of NACH registration, we will re-attempt setting up your NACH mandate. If the EMI due date arrives before the NACH mandate is set up, you can make the payments through the Truecaller app

What happens if I miss the payment on the due date?

There will be no late payment penalty charged by our partner NBFC, failure to service EMI might impact you in the following manner:

Credit rating (reporting to Credit Bureau)

NBFC may initiate recovery proceedings to recover the dues apart from the late payment charges

Why Is The Amount Of NACH Higher Than My EMI?

The amount in the NACH form is equal to your loan amount but your EMI remains the same as what you’ve chosen on the app. This is done for your convenience by reducing multiple NACH authorizations when taking an additional loan.

For instance, each time you borrow more money through a top-up loan or credit line, we’ll have to get a new NACH mandate to accommodate the change in the EMI amount.

To avoid such a cumbersome process, we have simplified things by taking a single NACH mandate authorization, which is equal to your initial loan amount.

What can I use the Truecaller Loan for?

You can use the Truecaller Loan for absolutely anything you want. Whether you want to buy a new phone, take a vacation, or cover yourself in times of emergency

Is a good CIBIL score required for my application to be accepted?

If you see the Truecaller Loans card in your app, you already have an offer. A good CIBIL score is not mandatory for you to receive an offer.

What should I do in case my application was rejected?

Your application will be rejected only if there are discrepancies in the documents you have signed on. We will get in touch with you to complete the sign-up process again.

How do I cancel my registration for Truecaller Loans?

Please email us at to cancel registration for Truecaller Loans. 

What is the minimum and maximum tenure for repayment of withdrawal?

The minimum tenure for repayment of withdrawal is 3 months and the maximum tenure is 18 months.

How is the Interest calculated?

The applicant would be charged interest on a daily basis for the cash withdrawn from Truecaller at the rate mentioned in the app. Interest will accrue on a daily basis and will need to be paid on the dates shown on the app.

Can I avail a partial disbursement?

No, Loans on Truecaller is a term loan. The amount you choose at the time of registration will be disbursed after the documents and repayment details get approved.

What are the costs associated with the withdrawal of the money from the Truecaller Loan account?

There is no cost associated! No document pick-up fees,pre-closure fees, or any other fees.

 What are the documents I need to submit to avail cash disbursement from Truecaller Loans?

Here’s the list of documents you will need to apply for a loan on our app:

  • Identity Proof – Aadhaar/PAN Card
  • Current Address Proof – If Aadhaar Card doesn’t feature your current address
  • Bank Statement (Salary A/C) – Last 3 months’ statement with salary credits

Please make sure that the documents listed above are valid at the time of submission of your loan application.

What Are The Applicable Rates Of Interest For A Loan?

The rate of interest starts from 16% p.a. and will be based on the assessment of your spending patterns by our algorithm.

Is There Any Collateral/Security For This Loan?

This loan is collateral-free.

Can You Really Process The Loan And Disburse The Amount In 24 Business Hours?

We try our best to process your loan within 24 business hours. This time period starts when you’ve reviewed and submitted your loan agreement. It ends once you receive the loan amount in your account.

To keep you informed, the time taken for your loan application, NACH mandate, and eligibility check is not part of this 24-hour period. These steps usually involve plenty of discussions between you and our customer support team. This makes it difficult for us to provide you with a conclusive timeline.

Please note that our business hours are from Monday to Friday: 10:00 AM – 6:00 PM.

Am I Allowed To Change The Loan Amount Once I’ve Applied For It?

No, you can’t change your loan amount on the app after you’ve submitted your application. If you’ve made any errors during the application process, please email us at 

Do keep in mind that you can’t change the loan amount or the terms after you’ve reviewed and submitted the Loan Agreement.

Is There A Reason Why You Need My Bank Details?

We’ll need your bank details to transfer the loan amount to your account and to deduct the Easy Monthly Installments (EMIs) for the loan.

I’ve Completed The First Three Steps Of The Loan Application Process On Your App. However, I’m Not Able To Proceed To The Next Step – The “Repayment details” Stage. What Do I Have To Do To Move Further?

Once your loan application is submitted on our app, our internal team will verify your Credit Bureau score. Thereafter, we will verify all the documents you’ve uploaded. Keep in mind that we will send the NACH form to your registered email address only once we’ve approved your documents.


Rohit is the author of this solution article.

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