Knowledgebase

Your loan's due date is the 5th of every month. If there is any shortfall in the amount paid during the month, NACH will be auto-triggered via our syst...

You will receive an email for the monthly shortfall on the 4th of every month.

For monthly reconciliation, the shortfall is defined as the difference between the expected payable for the month and the total amount paid. Example : ...

There are 2 options You can raise a ticket on hello@velocity to request a refund. We will process the refund in 3 working days. You can also request to a...

During credit evaluation, our underwriting team determines the number of accounts needed to repay the loan.

NACH bounces do not reflect in your CIBIL report, but they do reflect on your bank account. NACH bounces are seen as a negative indicator and can impact you...

Banks apply a penal charge for every NACH bounce. Bounce charges may differ from bank to bank.

On shortfall in collection, our system triggers the NACH. You can raise a request to hold NACH by contacting your Key Account Manager or via a mail to hello...

You can see the values of settled NACH on the velocity portal under the statement tab.