Question 1

Why & when do I have to pay deposit?

Accepted Answer

When you finalize a particular Zolo accommodation, a booking request is generated from your end. And, once, that is confirmed, you are required to pay the deposit money. This money is charged solely for security assurance purposes so that the residents do not damage/spoil the property.

Question 2

What are the benefits of Zolo IMPS transfers over other payment modes?

Accepted Answer

Parents & relatives can directly transfer money

Standard IMPS rates (no extra charges)

Secure & real time transfer of money

Question 3

For Zolo IMPS transfers, can I use my friend's bank account (VBA) to make Zolo payment?

Accepted Answer

No. All transfers to virtual bank account can only be made through Netbanking

Question 4

In case of Zolo IMPS transfers, what happens if I transfer less amount than total payable amount for this month?

Accepted Answer

The amount will get added to your wallet once bank transfer is successful. Since the transferred amount is less than payable amount, it would not be used for payment against any open invoices

Question 5

How and when do I pay my monthly rent?

Accepted Answer

The resident is supposed to pay the rent before the 7th of every month in order to avoid late penalty charges. Payments can be done via UPI, Zolo IMPS transfers or razorpay. UPI & Zolo IMPS transfers carry no extra charge while for razorpay an extra 1.5% is charged.

Question 6

In case of Zolo IMPS transfers, what happens if I transfer money to someone else's bank account?

Accepted Answer

The money transfer should never be done to a bank account belonging to another user. In case this happens, Zolo support team would help to get your money back. But there could be situations when the money transferred to another bank account could not be retrieved. So, make sure you are transferring money only to your account and not to anyone else

Question 7

Is there any deposit that I have to pay, if yes how much?

Accepted Answer

Unlike the local PGs, we at Zolo, take a deposit of one month only which is equivalent to a month’s rent. This rent may vary according to the property in which you are staying. The main reason behind charging the deposit is solely for security reasons.

Question 8

For Zolo IMPS transfers, what are the account details against which payment has to be done?

Accepted Answer

Please add following payee as a beneficiary. This can be done via your NetBanking login and also through apps like Google Pay and Phone Pe

Beneficiary Name - ZOLOSTAYS PROPERTY SOLUTIONS PRIVATE LIMITED

Account Number - 9ZSP followed by ten digit mobile number REGISTERED with Zolo (Example - 9ZSPxxxxxxxxxx)

IFSC Code - DBSS0IN0811

Question 9

Would there be any extra charges while doing Zolo IMPS payments?

Accepted Answer

Zolo would not incur any extra charge on top of IMPS transfer rates charged by banks

Question 10

For Zolo IMPS transfers, would my unique virtual bank account(VBA) change in case I update the registered phone number with Zolo? What happens to the old account number

Accepted Answer

After updating the phone number, the user should only make payments against the new account (VBA). In case payment is done against the old account (VBA), the transferred amount would not be used for settling any Zolo charges. In such cases, the customer needs to reach out to the support team and request for refund

Question 11

How do payments in Zolo work with UPI?

Accepted Answer

You can use UPI as the payment gateway while paying for Booking amount, Deposit, Rent, Adding money to ‘Advance Cash’ or paying for any subscription services.

Choose UPI as the payment gateway and select “Add a new VPA”.
You can get your VPA from the UPI app under the profile section.
You have to enter the VPA and select “Verify and Pay”.
You will receive a payment request in the UPI App, accept to Pay.
You will have a maximum of 5 minutes to accept the payment request in the UPI App.
Once the payment is received, you will be redirected to a success page.
Please note that we will securely save your VPA to enable faster payments.

Question 12

What is VPA and How to find my VPA?

Accepted Answer

VPA (Virtual payment address) is a unique identifier that’s mapped to an individual account. VPA can be created on the UPI apps like BHIM, GPay, Paytm, Phonepe, etc. It can be found in the ‘Profile’ section in the application along with a unique QR code that can be scanned to make or receive a payment.

Question 13

How much should I pay as a convenience fee while using UPI?

Accepted Answer

In Zolo, by using UPI as a payment gateway you will be charged 0% as a convenience fee.

Question 14

What is Zolo IMPS transfers & how does it work?

Accepted Answer

Zolo IMPS transfer is a new (and free) mode of making payments to Zolo. These payments are made to virtual bank accounts uniquely created for each Zolo tenant. You can add this account as a payee through NetBanking login of your Bank's app or through apps like Google Pay and Phone Pe & make online payments via IMPS. This is similar to how you transfer money to someone. Zolo will auto detect once the payment is successful & settle any outstanding dues within 24 hours.

Question 15

For Zolo IMPS transfers, why does Zolo suggest IMPS transactions only?

Accepted Answer

IMPS transactions usually happen instantly and are supported 24*7. Some banks can have their own timings to initiate e.g. SBI allows from 8 am to 8 pm, but usually IMPS transfer have more flexible timings compared to NEFT or RTGS

Question 16

In case of Zolo IMPS transfers, what happens if I transfer more than payable amount?

Accepted Answer

Be rest assured, your money is safe. The extra amount can be used for making future payments to Zolo

Question 17

How and when will be my deposit refunded?

Accepted Answer

Your deposit can be refunded when you leave the room permanently after serving the notice period of 30 days. Please note that the refund will be processed to the account details mentioned in the KYC details within 30 days of your exit.

Note: The tentative time mentioned is in case the exit procedure is properly followed.

Question 18

Under what circumstances, my deposit would not be refunded?

Accepted Answer

A resident’s deposit money is generally refunded if they serve the notice period of thirty days. However, under the following circumstances, they are required to pay the deposit:-

If s/he vacates the room without paying his/her rent and,
If some sort of harm is meted to the Zolo property.

Question 19

What payment options do I have?

Accepted Answer

There are three payment options for a user: UPI, Zolo IMPS transfers & Razorpay. UPI & Zolo IMPS transfers can be currently used only by residents and they carry NO extra charge. Razorpay can be used for all processes from pre-booking to check out and come with 1.5% extra charge

Question 20

When and how is my refund processed when I check out from a Zolo property?

Accepted Answer

After checking out the property and successfully serving the notice period, your deposit money will get refunded through the same mode of payment within 10 working days.

Question 21

What is UPI and How do I use it?

Accepted Answer

UPI is one of the safest payment gateways that works by instantly transferring funds between two bank accounts. You can download the UPI app on your phone like BHIM, GPay, Paytm, Phonepe, etc., and set up your unique ID that is linked to your desired bank account.

Question 22

What are the things to take care of while making Zolo IMPS payments?

Accepted Answer

All account numbers are UNIQUE and assigned separately for each user. Don't use anyone else's account number to transfer funds

In case users updates his phone number with Zolo, payment should only be done against new account number & not the old one

Money transfer to these accounts can only be done through Netbanking(IMPS). These accounts cannot be used for transfer money through bank branch

Pricing & Payments