We are here to help you. Frequently Asked Questions (FAQs)
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FAQs / All you need to know about StuCred
Why not? Once in our system, you can access instant credit – anytime, anywhere. You get a chance to unlock even larger credit limits by successfully borrowing and repaying your loan amount. Additionally, you have the opportunity to build a credit score and improve your credit worthiness through the loan borrowing process with us – an invaluable addition to the toolkit of a recent graduate.
Download the StuCred app (Available only on Play Store for android phones) and create your own StuCred profile to take loans, manage your account, view exclusive offers and much more!
- Bank linked Phone number
- College details (College name, ID & Email ID)
- Government ID
- Video OTP for liveliness check
When everyone is not 100% satisfied due to unforseen problems such as loss of mobile, request to change the amount after amount is disbursed and request to hold the amount after disbursement – negative reviews may arise. At StuCred, we take negative reviews very seriously. We believe that there is always room for improvement and strive to better our user experience.
Thank you for your interest! Please send an email at care@stucred.com with an image of your college ID and course details and our customer care team will get back to you swiftly. We’d be happy to have you all on board.
You will have to set up a new StuCred profile if you change colleges. Just email us at care@stucred.com and we will be happy to help!
Just click Here and search for your College/University name
We are constantly working on updating our database.
Please send the following information to care@stucred.com
- Your Name,
- Contact number,
- Name of your college,
- Picture of ID card
- Your course
- Your college email domain
Credit Information Companies (CICs) calculate individual credit scores. CIBIL, Equifax, Experian and CIRF are the 4 CICs in India.
Elements that could influence your score may include quantity and type of loans taken in the past, length of credit history available, any outstanding debts, defaulted payments and a history of your repayments.
Your credit score is an important eligibility criterion for acquiring a bank loan or a credit solution. The credit score acts as a first impression on the institution – a high credit score increases your chances of availing their services whilst a low credit score can make it more difficult to get approval on your loan.
Information on credit score on all borrowers is provided by Credit Information Companies (CICs) to financial institutions, through a report called Credit Information Report (CIR) when requested. Your credit history and credit worthiness is assessed by any financial Institution through this report when you apply for a loan or credit card.
Periodic reports of clients’ credit histories are reported to Credit Bureaus. These reports include names of lenders, types of credit facilities availed, account information, ownership details, credit facility availed dates, payment history, loan amounts, account balances and monthly payment records (upto 3 years) – all as per regulation.
StuCred is a RBI registered NBFC; we are obligated to report all loans availed, payment history (including late payment and non-payment) and certain demographic details.
- Goto www.cibil.com
- Click on ‘GET A FREE CIBIL SCORE’
- Fill the form with government identification details
- Login with your email ID and password you have set
- Login to CIBIl dashboard through given link https://myscore.cibil.com/
- Login using username and password. OTP to complete login will be sent to an Aadhaar linked mobile number.
- CIBIL REPORT tab is available on left and side of page
- Login through given link https://myscore.cibil.com/
- GOTO Menu tab and click ‘CIBIL REPORT ‘option
- After clicking CIBIL REPORT go to bottom of the page and click ‘RAISE DISPUTE’
- Choose ‘ACCESS DISPUTE FORM’
- Select type of dispute and proceed with steps as per your requirement
- Select ‘FIND SOLUTION’
- Click on ‘RAISE DISPUTE’ button.
- Proceed as per instructions on website
- ExperianDispute Link: https://consumer.experian.in/ECSINDIA-DCE/?isDCEFlow=true#!/otpPage
- Equifax Dispute Link: https://www.equifax.com/personal/credit-report-services/credit-dispute/
- CRIF Dispute Link: https://www.crifhighmark.com/raise-a-dispute
StuCred offers loans at 0% interest rate.
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.
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 responsible borrowing – hence, the process of accessing high credit limits takes time.
With StuCred, you can borrow in multiples of Rs 500, with a minimum loan amount of Rs 1000 to Rs 15000. You can take as many loans as you like, within your credit limit.
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 amount.
Hello, 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.
That’s it!
Yes, registration is a one time process. Quick and easy!
The only things you need for registration are your phone number, college details and One Government Identity card
Yes. StuCred uses a numeric pass code every time you access the app on your phone – for your own security.
Yes, you can login using two step verification, i.e. the 6 digit numeric passcode and an OTP received on the registered mobile number. However, for your security we do not allow the bank account to be linked without the registered number being in the device. Hence, you cannot borrow or repay loans.
The app is only accessible from your registered device. One cannot sign in to your account as we use a secure two step verification process while logging in to the app.
Once you’re logged into the app, you can go to your profile settings and change the passcode! Your registered mobile number will be notified of your change passcode request.
Thank you for your interest! Please send an email at care@stucred.com with an image of your college ID and College Email Domain, our customer care team will get back to you swiftly. We’d be happy to have you all on board.
Don’t worry! Re-enter your details and try again. If the problem persists, shoot us an email at care@stucred.com and we will be happy to help!
Don’t worry! Select ‘Re-send OTP’ and retry. OTPs can take up to 5 minutes to be delivered when the network is congested.
Don’t worry! Select ‘Re-send OTP’ and retry.
No, not a problem! Just reconnect and continue.
Verification can be completed in 5 minutes; keep your Govt ID and college ID on
hand and enter them ASAP!
We require you to register with us since we expect you to fall back on us everytime you need our help. With this registration, we can recognize you easily and believe us when we say this – there are lot of good things in store for you.
Go to profile, Select delete account. Once your delete request is approved you can re-register with your bank linked mobile number.
- On the StuCred app, click on the Bell icon on the top right corner of your screen to check all notifications
- StuCred will also send messages and make calls to your registered phone number on the days leading up to your loan repayment date to remind you
As soon as payment is received, you will be notified via a payment confirmation page and receive a notification SMS on the registered mobile number. You can also see payment details under My Loan Summary on the Transaction page.
Sometimes there is a time lag between bank transfers – usual banking issues. Please check again after a while. If the problem persists, please contact your bank for the same.
Don’t worry! Try again – and if the problem persists, email us at care@stucred.com for further assistance. We’d be happy to help!
Yes, you can close the loan at anytime before your due date.
If the loan is not repaid within the loan tenure, there is one opportunity to pay the service charge again and enjoy the loan for a further 30 days, provided you have applied for the extension prior to the original due date.
Beware however, if the loan is not paid by the extended 30th day by 11:50 PM, your details will be with CIBIL and penalty charges if applicable will be added. This is a mandatory procedure by law. StuCred is a RBI registered NBFC; we are obligated to report our loan, its history, late payment and non payment of dues to Credit Bureaus such as CIBIL. By paying on time, one’s score improves. It also will follow with legal action against you if the loan is not paid within a certain period.
Loan repayments need to be made in full. We charge a minimum fee extending a loan, in case you need it.
- Refresh the app’s ‘Borrow’ page by pulling the page down to refresh.
- Checking internet connectivity.
- Force stopping the StuCred app and re-opening it.
- Sometimes, due to technical issues at the bank, money transfer gets delayed. In these cases, Banks take upto 3 working days to confirm transaction status.
- If the transaction is successful, the amount will be credited to your linked bank A/c within 2 working days (If it hasn’t been credited instantly).
- If the loan credit transaction to your linked bank A/c has failed, the related loan created in your stucred profile would be deleted within 3 working days.
- In either of the above cases, StuCred will notify you via SMS within 3 working days.
- Sometimes, due to technical issues at the bank, money transfer gets delayed. In these cases, Banks take upto 3 working days to confirm transaction status.
- If the transaction is successful, the amount will be credited to your linked bank A/c within 2 working days (If it hasn’t been credited instantly).
- If the loan credit transaction to your linked bank A/c has failed, the related loan created in your stucred profile would be deleted within 3 working days.
- In either of the above cases, StuCred will notify you via SMS within 3 working days.
- Refresh the app borrow page by pulling page down to refresh.
- Checking internet connectivity.
- Check the “Date Taken” field on the loan card to ensure its a new loan and not previously taken loan.
- Closing StuCred app and re-opening app.
- Sometimes, due to technical issues at the bank, money transfer gets delayed. In these cases, Banks take upto 3 working days to confirm transaction status.
- If the transaction is successful, the amount will be credited to StuCred within 2 working days and your loan will be subsequently extended.
- Sometimes, due to technical issues at the bank, money transfer gets delayed. In these cases, Banks take upto 3 working days to confirm transaction status.
- If the transaction is successful, the amount will be credited to StuCred within 2 working days and your loan will be subsequently closed.
Sometimes, due to technical issues at the bank, money transfers fail. In these cases, Banks take upto 7-10 working days to refund the amount back to your bank a/c.
In case your loan closure transaction has failed, but money has been debited from your bank account and you haven’t received the refund yet, StuCred will notify you about the status of your refund via SMS within 3 working days.
Registration can be completed in as little time as 2 minutes. Just enter your details and complete the OTPs. THATS IT!
Please enter your details manually by clicking on “Do you have an Aadhaar issued after April 2018?”
No, unfortunately. A working phone camera is mandatory to use our service.
No, you can’t edit your profile information on the platform after you have completed the verification process. You can contact us at care@stucred.com if you want to make any changes and we will be happy to assist you where we can!
Yes you may, however, we recommend to finish the process in one shot!
No, not a problem! Just reconnect and continue.
If your application is rejected, we explain why and you will get a chance to redo it. Just login to the StuCred app and try again!
StuCred is a great way to keep an available credit limit to use whenever and wherever you need it! Once your verification is approved and credit limit set, you can choose when you want to take out the loan and will only be charged for the amount you use!
Hello, we are sorry for the inconvenience caused if any. Before a loan is sanctioned, the system checks your eligibility and ensures all documents are in order. We send you feedback so you can complete the verification process swiftly and access your credit limit
You can redeem your rewards anytime once your wallet balance exceeds Rs.35.
No, you can’t share your cash reward, you will be able to redeem it only using the VPA linked to your StuCred account
No, your cash rewards will never expire.
Unfortunately, you cannot trigger loans when you are out of India. Nonetheless, you can still login to the app and manage your account.
Please send us an E-Mail to care@stucred.com with your previously used phone number/E-Mail ID. And we will get back to you swiftly.
You can get more information about the app on our website www.stucred.com. However, you need to download the app (available only on Google Play for android phones) to obtain loans, manage your account, view exclusive offers and much more!
Contact us at care@stucred.com or Call us on 044-46271122 with any queries you may have! We are always happy to help.
As a regular StuCred user, you will get your loan enhanced for prompt payments, your Credit file will be submitted to various rating agencies which will drastically improve your chance of getting bigger loans from various banks once you finish your graduation and land a job.