ProtectPay Benefits


Easy and secure Digital Escrow Account

No hassles of following up with Landlord

Quick Refund once tenure is over

Instant SMS/Mail notifications on Refund/Transfers


Dashboard to manage multiple properties

Claim facility available for damages

Instant SMS/Mail notifications on Funds Deposit

Monthly interest payout


Castler for Real Estate

Rental Security Deposit

  • Register on ProtectPay platform
  • Create instant Virtual Escrow Account for Rental Security Deposit
  • Agree on Terms and Conditions
  • Tenant transfers the Security Deposit
  • Landlord rents the property to tenant as per agreed terms
  • After completion of rent tenure, ProtectPay releases the Security Amount to Tenant and the claim to Landlord (if any)
  • Funds are released after confirmation from both parties


Frequently asked questions

  • What is Escrow?

    An escrow is a financial arrangement where a third party holds and regulates payment of the funds required for two parties involved in a given transaction. It helps make transactions more secure by keeping the payment in an escrow account. The amount is only released when all the terms of an agreement are met as overseen by the escrow company.

    Escrows are very useful in the case of a transaction where a large amount of money is involved, and a certain number of obligations need to be fulfilled before a payment is released. As in the case of a house rental, where Tenant gives security deposit to Landlord who holds the funds till the end of tenure. In this case ProtectPay secures the funds on behalf of both the parties and transfers it at the end of the tenure after confirmation from both the parties

  • What are Digital Escrow Account Services?

    Escrow account services involve an arrangement where a third party (ProtectPay) plays the part of a trust-enabler in a transaction between two parties. While traditional escrow service is quite difficult and must be obtained through banks and lawyers, ProtectPay provides online escrow services at affordable rates.

    While the payment is ‘In Escrow’ the transaction can be safely carried out without the risk of losing money due to fraud. This eliminates all legal jargon, allows for secure transactions and confident Landlord and Tenants. ProtectPay holds the fund, releasing it only when all the terms of the contract are satisfactorily met.

  • How are funds safe in a Digital Escrow Account?

    Funds are deposited in ProtectPay’s Digital Escrow Account powered by ICICI bank

    Funds are released only after approval of both parties (Landlord & Tenant)

    Funds are in custody of Trusteeship company which is a legal entity that manages funds on behalf of a beneficiary for their benefit.

  • What is a Trusteeship Company?

    A trustee company is a legal entity that manages and invests funds on behalf of a beneficiary for their benefit. A trustee is an individual or company performing a fiduciary duty of managing a trust. When you are trusting someone with your assets you create a “Trust”. The overseer of those assets is the trustee. Trustees administer assets or property for the benefits of another.

  • How long does it take to create a Digital Escrow Account on ProtectPay?

    Digital Escrow Account is created instantly, as soon as Tenant and Landlord registers/login on ProtectPay, fill in details and agree on Rent Agreement terms.

  • When are funds released by ProtectPay?

    ProtectPay will release the funds after the end of tenure or when both parties have authorized the refund of security deposit. Funds are released to the Tenant, the same or next business day after successful completion of rental tenure and upon verification by ProtectPay

  • As a landlord, how does ProtectPay benefit me?

    Escrow accounts keep the security deposit money safe for both the Landlord and Tenant involved in a Rental Agreement. This amount is kept in a secure bank account and the Landlord will have the right to get monthly interest benefits on this.

  • What happens if the Tenant damages rental property?

    In case of any damage to property, Landlord has the right to raise a claim amount that will be deducted directly from the security deposit kept in digital escrow account. In case of dispute, there will be separate options for quick settlements.

  • How do Landlord and Tenant check the status of Virtual Escrow Account balance?

    Both Landlord and Tenant will have access to a secure personal ProtectPay account from which they can view all details and balance available in the Escrow account. In case of queries, email based support will also be available

  • As a Tenant, how does ProtectPay benefit me?

    With the creation of an Escrow account, the security deposit is never directly transferred to Landlord but will be kept in a safe Digital Escrow Account.  

    Once the rent tenure is over, the Tenant can easily raise a refund request and close the account


Castler is India’s 1st Trust Based Escrow Transaction Banking Ecosystem which helps mitigate the trust deficit between unknown buyers and sellers by securing the money in an RBI Licensed Bank and paid out only when the terms of the agreement are fulfilled and at the consent of the transacting parties.

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