Repayment & Default

RetailPe ensures that all repayment terms are clearly communicated and agreed upon before loan disbursal. These terms are governed by the partner NBFCs/Banks, and we help you understand and adhere to them effectively.

Repayment Terms

• Mode of Repayment: EMI payments are typically auto-debited via NACH, e-mandate, or post-dated cheques
• Repayment Tenure: Varies based on the loan offer, usually ranging from 3 to 36 months
• Due Dates: Clearly specified in the Key Fact Statement (KFS) and loan agreement
• Assists with digital KYC and e-signing of agreements
• Prepayment/Foreclosure: Some lenders may allow early repayment with or without charges—details are shared during onboarding

In Case of Default

If you miss your EMI or fail to repay on time:

• Penalty/Charges may be levied as per the lender's terms
• Your credit score may be impacted, affecting future loan eligibility
• The lender may initiate recovery proceedings as per law
• Continued default may lead to being reported to credit bureaus (CIBIL, CRIF, etc.)

RetailPe does not engage in any recovery action directly. All recovery processes are handled by the regulated lender as per RBI norms.