How NACH auto-debit works

Your EMI is collected from your bank on the due date - no queue, no cash.

NACH is a standing instruction (mandate) you give your bank to pay your EMI to SM Square automatically on each due date.

You sign the mandate once, while taking the loan - by net banking, debit card, Aadhaar or UPI.
On every due date the EMI is debited from that account. You get an SMS from your bank.
Keep the EMI amount in the account a day before the due date.
If the debit fails for low balance, the bounce charge is Rs 500 per instrument and delayed payment charges apply - see the Schedule of charges.
Want to change the bank account? Call 83330 00111 - we will send you a new mandate link.

If an EMI bounced, pay it at once with Quick Pay to limit charges.