To save you time when reapplying for a loan in the future, the NACH form is set for the maximum repayment or EMI amount of InstaMoney loans, which is Rs. 25,000, and for a tenure of 10 years.
This means you won’t need to submit a new NACH form for your next loan on our platform. We will use the existing NACH form you submitted, regardless of the loan amount you choose for your new InstaMoney loan.
Note: The Electronic Clearing Service (ECS) will only debit the EMI amount you owe on your current loan, not the maximum limit mentioned in the NACH form.