Uni Paycheck Discontinued

[sjmajumder]

Received message from UNI that Paycheck has been discontinued as per RBI directive. It is being discontinued from September 2024.

They are exploring new products.

 

[telescope]

Yes, I got intimation today. It's Northern Arc.

I gave consent and there was a CIBIL hit (it was mentioned). Uni also forwarded the CIBIL report to my mail id. Services will resume from next month.

I too got onboarded with northern arc.

Few days ago (before this onboarding with northern arc), I got an address verification letter from uni. You also got similar letter?

 

[sjmajumder]

I too got onboarded with northern arc.

Few days ago (before this onboarding with northern arc), I got an address verification letter from uni. You also got similar letter?

Y E S

 

[dhiraz]

To Ab Northern Arc Ke Hi Paiso Se Usi Ka IPO Buy Karunga 😎

 

[sjmajumder]

They find new patner and start the uni paycheck today.

I got paycheck today. Extra 11 days.

 

[Survivor35]

i dint apply for anything,dont why i got a trigger from north arc.

 

[moneyMaker]

I am getting whatsapp messages to apply for uni paycheck,

which credit provider/parter you think I will be alloted?

And what category of loan will be on my CIBIL?

 

[telescope]

I am getting whatsapp messages to apply for uni paycheck,

which credit provider/parter you think I will be alloted?

And what category of loan will be on my CIBIL?

Northern arc capital

No idea of category

 

[PaneerButterMasala]

I am getting whatsapp messages to apply for uni paycheck,

which credit provider/parter you think I will be alloted?

And what category of loan will be on my CIBIL?

Should be consumer loan.

 

[moneyMaker]

consumer loan.

How is Personal Loan different from consumer loan?

 

[moneyMaker]

Northern arc capital

"""
The Loan is in the form of a Line of Credit. It shall be referred to as “Credit Line” throughout this MITC. It shall be accessible through the “Service Platform”, namely the website, mobile application or such other platform as made available to the Borrower from time to time.

The Borrower may use this Credit Line for personal purposes.

"""

Grievance redressal officer of Lender

Mr. Madhan Mohan K

Address: IndiQube Golf View Homes, 6th Floor, Tower B, 3rd Cross Road, S R Layout, Murgesh Pallya, Bengaluru-560017

Toll free number: 1800 258 7010

Email ID: gro@northernarc.com

Nodal officer of Lender

Ms. Deepa Nair

Address: IndiQube Golf View Homes, 6th Floor, Tower B, 3rd Cross Road, S R Layout, Murgesh Pallya, Bengaluru-560017

Toll free number: 1800 258 7010
Email ID: nodal.officer@northernarc.com

https://www.uni.cards/nbfc-terms/?tab=northern_arc

 

[moneyMaker]

I think it should be a credit card in the CIBIL with 100% utilization.

 

[telescope]

I think it should be a credit card in the CIBIL with 100% utilization.

N O .

 

[sjmajumder]

I am getting whatsapp messages to apply for uni paycheck,

which credit provider/parter you think I will be alloted?

Mostly Northern Arc

And what category of loan will be on my CIBIL?

Personal Loan

 

[pinki]

I am getting whatsapp messages to apply for uni paycheck,

which credit provider/parter you think I will be alloted?

And what category of loan will be on my CIBIL?

Northern arc..

Personal loan .

 

[Pissant]

Doesn’t stuff like this harm your cibil negatively?

 

[telescope]

Doesn’t stuff like this harm your cibil negatively?

as long as you pay on time it's not a problem.

 

[moneyMaker]

How is Personal Loan different from consumer loan?

https://www.indusind.com/iblogs/personal-loan/consumer-loan-vs-personal-loan/

Personal Loan

its a monthly personal loan?

like I take loan on day 1 and pay it on day 30? so the app probably automates the loan taking,

the maximum limit is always mentioned on the CIBIL or what I credit the amount in the bank that I can change is mentioned on the CIBIL?

whats the duration of the loan mentioned on CIBIL?

 

[moneyMaker]

as long as you pay on time it's not a problem.

and as long as the PL is small compared to total line of credit.

 

[moneyMaker]

whats the duration of the loan mentioned on CIBIL?

can someone check their CIBIL and let me know, the duration of the loan recorded,

and whether its the "allowed limit" (50k/1Lakh etc)

or whats credited to the bank (which we can change in the uni app)

 

[Basil Baby0729]

Does uni pay reflect as a single account or multiple. Since every month paycheck is credited. Like if i opt to credit 12 paychecks in a year will my cibil report have 12 personal loan accounts??