HELP WITH YOUR FIDDO LOAN APPLICATION

How do I get started?

Click on the icon “Apply Loan” and register with an easy stepwise process as guided.
Fiddo team processes your application for identity verification post the submission.

What are the eligibility criteria to become a borrower / loan applicant on Fiddo loans?

Every applicant must be a resident of India and at least 21 years of age.
HE/ She should a valid bank account, income and identity proof.

Why do I require documents?

Documents asked for at Fiddo loans are required for identity verification, credit-check and risk assessment.

What information do I need to provide to apply for a fiddoloan ?

Every applicant is required to provide basic personal information such as address , income and linking of your social accounts with Fiddo.
In some cases the applicant is requested to verify the income shown and these documents are accepted only through an upload to our website.

How much can I borrow, how long will I have to pay it back and how much will the loan cost?

This depends on person to person i.eapplication to application in consideration with your eligibility and Social Score.
An applicant gets to see eligible loan amount, tenure of repayment and the interest amount before the final approval of the application.

How do I choose my loan amount and tenure?

You can pre set your loan amount as per your requirement at the time of applying for the loan.

What are the interest rates I am expected to pay?

Interest rates are defined for each borrower by an automated credit appraisal system.
This system uses the personal and financial information provided by the applicant along with the social score.

On what parameters does Fiddo loans verify my profile and check my credit-worthiness?

Fiddo Loans verifies your profile basis the information and documents provided by you.
Fiddo Loans also considers your “Social Score” in evaluating your credit-worthiness.

What is “Social Score”?

“Social Score” is your social standing in the real and virtual world.
Social Score is calculated by your active participation and presence on various social media portals.

Does my Social Score in any which ways is linked with my CIBIL Score?

Your Social Score is not affiliated by your CIBIL performance.
Social Score depends on your accessibility on social media.

Does Fiddo loans undertake physical verification?

Yes! Physical verification at residential as well as official address is undertaken after prior appointment.

How do I cancel my loan application?

Write an email to support@fiddoloans.in requesting cancellation of your registeration. as borrower.
Loan cancellation will only be felicitated prior to the disbursal of funds.

How do I change my bank details or set up a new direct debit?

Write an email to support@fiddoloans.in stating both your current and new bank details.
Swapping charges of INR 500 applicable and payable to Fiddo for every swap initiated.

Why was my application declined?

Fiddo Loans holds exclusive rights to decline any application on following grounds:

The applicant is unable to provide complete documentation or the same cannot be satisfactorily verified and authenticated.
The documents submitted at Fiddo lack substantial evidences.
Physical verification report turns out to be negative. It is established the applicant does not reside or work at the address provided.
Borrower fails to pay the processing fees.
In case of any misleading information provided deliberately with an intention to cause any damage to Fiddo Loans or its employees.

LOAN DISBURSAL

How long is the disbursal process?

The loan approval process ideally takes 24 hours subject to provision of documents by the applicant.
The Loan disbursal takes another 12-24 hours depending on th approval of the loan.
The entire process is completed in a time span of 48-72 hours.

How will I receive the disbursed amount?

The approved loan amount will only be disbursed and credited into the bank account as mentioned in the loan application or facility agreement.

Do you have hidden charges?

There are no hidden charges of any kind.
Every borrower is provided with a complete list of fee and interest at the time of disbursal.
Fiddo Loans charges only one time processing fee which equals to 2% plus applicable taxes of the sanctioned loan amount.
Kindly note that the processing fee may be higher for Special Purpose Loans.

LOAN REPAYMENT

How are repayments calculated?

Repayments are equated monthly installments calculated using the reducing balance method.
The borrower’s monthly instalment remains the same throughout the tenure of his/her loan.
The first instalment though may vary depending on the date of disbursal.

How do I pay the installments?

Borrowers can conveniently pay through NACH to our account (NBFC).
Your account automatically gets debited on the due date of your loan installment.

Can I choose my monthly repayment date?

The repayment schedule can be mutually finalised between Fiddo Loans and the borrower deciding any date between 1st-10th of every month.

Once the loan is repaid and the outstanding has been cleared, will the Bank send me some confirmation ?

Fiddo Loans (NBFC) issues every customer a “No Due Certificate” on successful closure of the loan.

Do I have an option to pre-close a loan?

A Borrower can pre-pay the overdraft facility post 6 months of disbursement.
Borrower needs to send us an intimation in writing and pay in accordance with the prepayment amount confirmation given by the Bank / NBFC.

What happens in case of delayed or non-payment of EMI?

In case the EMI is not paid on the scheduled time, a penal interest of Rs. 750/- per delay upto one month will be charged.
Further 1% of the delayed amount will be charged on daily basis.

What happens in case of default payment?

If the payment is defaulted, Fiddo has the right to issue to legal notice to the particular defaulting borrower and a non-refundable charge of INR 500 is levied per legal notice.

MANAGING YOUR FIDDO ACCOUNT

I forgot my password. What do I do?

Just follow the simple instructions here to reset your password.

How do I update my email address?

Kindly sign in using the email address you operate to access your Fiddo Account.
Go to “Contact Us” Form and send us your new email address. The new email address shall be updated on our records.

How do I update my phone number?

Please sign in to your Fiddo account and go to “Contact Us” to send us your new phone number.
After a verification call to the new number your account will be updated accordingly.

Why is my phone number not being accepted?

Our system does not permit usage of multiple accounts with the same phone number for security purposes.
You can though update an alternate number and complete the verification process.

I did not receive my email verification code. What do I do?

Please check your spam and junk folder incase you don’t see the first Lendup mail “Welcome To Fiddo Loans” in your inbox.
If you still don’t seem to find it, Kindly get in touch with our support system at support@fiddoloans.in .