Question 1

How can I use StuCred®?

Accepted Answer

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!

Question 2

Why does StuCred need my GPS location?

Accepted Answer

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.

Question 3

What if I change my device?

Accepted Answer

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.

Question 4

What if I want StuCred to erase all my data?

Accepted Answer

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.

Question 5

How does StuCreds fee structure work?

Accepted Answer

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 = only 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%

Question 6

What do I need to create a StuCred account?

Accepted Answer

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

Question 7

When can I use StuCred?

Accepted Answer

StuCred is available anywhere in India, 24x7!

That translates to cash being available whenever and wherever you need it.

Question 8

Who can use StuCred®?

Accepted Answer

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!

Question 9

What is StuCred?

Accepted Answer

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 500 to Rs 30,000 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.

Question 10

When was StuCred launched?

Accepted Answer

We started building our community on 19th October 2018!

Question 11

What are the stages involved in availing a loan with StuCred®?

Accepted Answer

What are the stages involved in availing a loan with StuCred®?
The steps to on board onto the StuCred® platform are:-

Registration - Enter your details, and the OTPs sent to you. That’s it!
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!

Question 12

Why are there some negative reviews when you claim to have the best service in industry?

Accepted Answer

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.

Question 13

The loan credit transaction is successful but a loan hasn’t been created in my StuCred profile yet.

Accepted Answer

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 created in your StuCred profile, the following steps could help:

Refresh the app's 'Borrow' page by pulling the page down to refresh.
Checking internet connectivity.
Closing 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.