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FAQs / All you need to know about StuCred 

A student who is an active user becomes eligible even after graduating and still can continue to be a part of the Stucred community.
To be a part of Alumni you can upload your Degree certificate, Consolidated marksheet, Provisional certificate, Transfer certificate or any other document which states you had completed your college.
 
Your StuCred score is an average of the score you have received for your transactions behaviour, and is measured out of 5 stars. Scores are assigned by the algorithm based on a variety of factors. The score is usually done on the basis of your performance during each transaction which in turn sums up to the final score. It is not easy to get 5 stars, so don’t get disheartened and think of this as a learning tool about credit and score building. Knowing a little more about the things that impact your score can help you be a 5 start user.

To be a part of Alumni you can upload your Degree certificate, Consolidated marksheet, Provisional certificate, Transfer certificate or any other document which states you had completed your college.
 
We understand that at times you may be delayed due to various reasons to pay the loan on time and this may impact your score. Sooner you pay, lesser will be the impact on your StuCred score.
 
Your score is hugely impacted based on your repayment behaviour.
 
Managing your credit before the due date is the best form of responsible borrowing. On time repayments and extensions before your due date will always have a positive impact and get you closer to the 5 star score.
Score is basically a genuine understanding between You and StuCred. Generally when you score us on Social Media Platforms/App Store to convey your gratitude, we try to convey from our very own StuCred app. It gives us an opportunity to show you different perks and benefits based on your score. To unlock the 5 star benefits, you would have to make sure that you actively used the StuCred App.
 

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!

StuCred needs your GPS location for security purposes so that we can make sure you are in India while applying for a loan as we operate only in India.
 
If you change your device, just download the app on the new device and sign in with your registered mobile number. Make sure the registered mobile number (SIM CARD) is in the new device.
 
As a RBI regulated entity we are under regulatory obligations to keep your data for a minimum of 10 years. These retention requirements supersede any right to erasure requests under applicable data protection laws (such as GDPR). We cannot therefore erase your data in relation to your StuCred Account until after this time period, we can assure you though that your data will be held safely and securely whilst under our supervision.
 
Great question!
At StuCred, our mission is to empower college students by helping them tackle their financial constraints, not add to them! Therefore, we have altered our fee structure in line with our mission.
 
Financial services generally follow a fee structure of:-
Total fees = interest rate + service charge.
However,
StuCred total fees = interest rate + service charge.
 
We levy only this minimal charge of 6% for maintenance of the application and to provide you with 24/7 customer support. That’s a win-win situation, right?
Our maximum annual percentage rate is (APR) – 72%
The only things you need to create a StuCred account are:
 
  • Bank linked Phone number
  • College details (College name, ID & Email ID)
  • Government ID
  • Video OTP for liveliness check
StuCred is available anywhere in India, 24×7!
That translates to cash being available whenever and wherever you need it.
Currently, StuCred is available to college students ( 18 years + ) actively enrolled in specified colleges in India.
Click here to check if your college has StuCred!
StuCred is a secure digital platform offering short term loans to empower and educate the student community in India!
We offer credit within the range of Rs 1,000 to Rs 15,000 instantly to the users bank account – ensuring one always has ‘cash on hand’.
Additionally, we provide students with the opportunity to build a credit score and report these scores to Credit Information Companies ( CICs ), such as CIBIL, periodically – as per RBI directive.
 
StuCred allows its users to enhance their creditworthiness through their loan borrowing process with us – an invaluable addition to the toolkit of a recent graduate.
We started building our community on 19th October 2018!
What are the stages involved in availing a loan with StuCred?
The steps to on board onto the StuCred platform are:-
1. Registration – Enter your details, and the OTPs sent to you. That’s it!
2. Verification – Scan Govt ID (Front and Back), college ID card, and submit a video OTP.
Once on boarding is complete, connect your bank account! You can select your desired loan amount from your credit limit. Your money can be transferred into the bank account in as little time as 30 seconds!

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.

FAQs / College Enquiry

Thank you for your interest! Please send an email at care@stucred.com with an image of your college ID and our customer care team will get back to you swiftly. We’d be happy to have you all on board.
 
To be a part of Alumni you can upload your Degree certificate, Consolidated marksheet, Provisional certificate, Transfer certificate or any other document which states you had completed your college.

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

    1. Your Name,
    2. Contact number,
    3. Name of your college,
    4. Picture of ID card
    5. Your course
    6. Your college email domain
i.e yourName@yourCollege.edu
(Eg. Rahul@xyzuniversity.edu)

FAQs / Credit Score

In the simplest terms, a credit score is your financial report card. It shows your credit history – quantity of loans, frequency of loans, repayment patterns, etc. Banks, employers, and institutions can check your credit score to understand your creditworthiness.

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.

  • 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 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
  • 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
Disputes are resolved by CIBIL or any credit bureau ONLY. StuCred will not be able to share the current status of the dispute raised by you. Follow up with your DISPUTE NUMBER on CIBIL dashboard
Create dashboard on your preferred credit bureau dashboard
Select complete report and raise dispute as per instructions given on credit bureau website.

FAQs / Loan

1. Launch the app and click on add bank account.
2. After SIM verification on select bank screen you get VPA on top of the screen which is an editable field and it will have your mobile number with @yesBank as a suffix, please edit it to your name@yesbank (as it needs to be unique)

StuCred offers loans at 0% interest rate.

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.

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.

Under profile management, click on credit limit to see where you are, and how to progress.
 

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.

StuCred decides your credit limit by building a transaction history allied with analyzing alternate forms of data.
Approved Loan of an applicant will be disbursed directly into the bank account details you have shared with us during registration.

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.

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.
Loan tenures can be upto 90 days, including extensions. There are no charges for pre-payment.

FAQs / Privacy

 

FAQs / Registration

To register, confirm your phone number and college details by submitting both OTPs sent to 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

Creating a StuCred passcode ensures the safety and privacy of your app. You enter this passcode every time you access the app on your phone.

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.

We are constantly updating our Database.
 
Please send the following information to care@stucred.com
1. Your Name,
2. Contact number,
3. Name of your college,
4. Campus
5. Your course

FAQs / Repayment

Repayment may be completed at any time within the tenure, and can be done through the loan page on the app. Easy! Alternatively,
Also, Simply press the ‘Repay’ button on the Loan Page to close your loan. Easy!
You will receive timely reminders to help you stay on track
  • 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.

FAQs / Transactions

If the loan credit transaction is successful and the money has been received in your linked bank a/c, but, a loan has not yet been Credited in your StuCred Account, the following steps could help:
  • 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.
If none of these solutions work, please let us know and we will diagnose the issue with our tech support.
Your StuCred loan amount is not yet credited to your bank, because your bank is yet to confirm the deposit status to StuCred.
 
When will the amount be credited to my linked bank A/c?
  • 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.
Your StuCred loan transfer is not yet credited to your bank, because your bank is yet to confirm the deposit status to StuCred.
 
When will the amount be credited to my linked bank A/c?
  • 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.
If the transaction has failed and the money has not been received in your linked bank a/c, but, a new loan has been created in your StuCred profile, the following steps could help:
  1. Refresh the app borrow page by pulling page down to refresh.
  2. Checking internet connectivity.
  3. Check the “Date Taken” field on the loan card to ensure its a new loan and not previously taken loan.
  4. Closing StuCred app and re-opening app.
If none of these solutions work, please let us know and we will diagnose the issue with our tech support.
Your StuCred loan extension charge is not yet credited to our bank, because our bank is yet to confirm the deposit status.
 
When will my loan extension payment be confirmed by StuCred and my loan be 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 extended.
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 transfers fail. In these cases, Banks take upto 3 working days to refund the amount back to payer bank a/c.
In case your loan extension transaction has failed, but money has been debited from your bank account and you haven’t received the refund yet, StuCred will refund the amount in 7-10 working days.
Your StuCred loan closure charge is not yet credited to our bank, because our bank is yet to confirm the deposit status.
 
When will my loan closure payment be confirmed by StuCred and my loan be closed?
  • 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.
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 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.

FAQs / Verification

Registration can be completed in as little time as 2 minutes. Just enter your details and complete the OTPs. THATS IT!

To verify, scan Govt ID (Front & Back) and college ID card (Front & Back), and submit a video OTP. That’s it!
 
Yes, once you’re in – you’re in!

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!

Yes! anytime, anywhere!
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!

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

Yes, it is mandatory for registration to provide Aadhaar details.

FAQs / Cash Rewards

Users who have made successful on-time repayments or extensions will be rewarded with a cash reward.
Navigate to the rewards page from the main menu to see your cash reward.

If wallet balance is above Rs 100 enter your UPI Id to redeem cash directly into your account

You can redeem your rewards directly into your bank linked to your StuCred account through VPA from the rewards wallet.

No, you can’t share your cash reward, you will be able to redeem it only using the VPA linked to your StuCred account

Every Reward Coupon expires in 45 days. Be sure to redeem your cash within that time frame.

FAQs / Miscellaneous Queries

Yes, you can! StuCred is currently being offered to students (18 years +) who hold valid Identity proof by Indian Government and are actively enrolled in specified college located in India.

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!

You can create a ticket on the StuCred app, email us at care@stucred.com, or Call us on +91 8062406300 with any queries you may have!

We are always happy to help.

Yes, our policies and procedures are designed to protect both your confidentiality and the security of your information. We store and process your personal information using third-party servers located in secure data centres, that are protected by firewalls and have restricted access in compliance with applicable regulations. All personal information and data is stored on a secure cloud setup and all communication happens via bank-grade secure SSL communication channels.
Note: Unlike our competitors, StuCred does NOT share user data with third parties.
Please notify us about your troubles on care@stucred.com so we can understand your reasons and try to resolve the issue. If you still wish to leave our community, your account will be closed once you have cleared all amounts due. Use these Steps: go to ‘Menu -> Profile -> Delete account’
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.

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.

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nodalgrievanceofficer@stucred.com

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