Definitions & Interpretation

Agreement: Refers to this document, including all annexures, addendums, and amendments made from time to time.

Applicable Law: Refers to laws applicable within India as per the General Clauses Act, 1897.

Application Form: Means the form submitted by the borrower containing all required details and documents, either electronically or physically.

Bounce Charges: A penalty payable if a payment instrument or electronic transfer is dishonoured or rejected.

Business Day: A day when banks and financial institutions operate in Delhi, Mumbai, Pune, Haryana, or Uttar Pradesh.

Due Date: Refers to the scheduled payment date for loan instalments, interest, or any other charges as mentioned in the loan agreement.

Loan Terms

• The borrower agrees to borrow and the lender agrees to lend the loan amount as per approved application terms.
• Loan disbursement may occur in full or in instalments as mentioned in the loan schedule.
• The lender reserves the right to revise the interest rate or loan terms based on regulatory changes or internal policy.
• The borrower must ensure timely repayment via approved payment methods such as ECS, NACH, or online transfers.
• Delays or defaults may lead to additional interest, bounce charges, and other applicable penalties.

Interest, Fees & Charges

Interest will be charged on a daily reducing balance and compounded monthly. Default interest or penalties may apply for delayed payments.

All applicable charges, including processing fees, prepayment penalties, and service charges, will be displayed in the Schedule of Charges on our website.

The borrower shall indemnify the lender against any legal, administrative, or collection-related expenses arising due to default.

Default & Penalties

• Failure to make payments on or before the due date constitutes an event of default.
• Default may lead to legal recovery, asset seizure, or reporting to credit bureaus.
• Death, insolvency, or legal proceedings against the borrower shall be treated as an event of default.
• Any outstanding dues will attract penal interest until full payment is made.

General Conditions

The lender reserves the right to update, modify, or revise the terms of this agreement at any time. Changes will be communicated via website or email notification.

All communication, invoices, and notices will be sent to the address or email provided by the borrower and shall be deemed delivered within 48 hours.

The lender may offset any amount due against deposits or funds available with the borrower.

Disclosure & Data Usage

By availing our loan services, you consent to the disclosure of your financial and personal data to regulatory authorities, RBI-approved credit bureaus, and associated partners.

The lender reserves the right to share borrower details for credit evaluation, fraud prevention, and promotional purposes.

Electronic Communication

Borrowers agree to receive communications, documents, and notices via email, SMS, or other electronic channels. Such communications shall be legally binding and final.

Indemnity

The borrower agrees to indemnify and hold harmless the lender against all losses, claims, or damages resulting from any default, legal action, or breach of the loan terms.

Dispute Resolution

All disputes arising under this agreement shall be resolved through arbitration in accordance with the Arbitration and Conciliation Act, 1996. The venue shall be New Delhi, India.

Governing Law

This agreement and all matters arising hereunder shall be governed by the laws of India. The courts at New Delhi shall have exclusive jurisdiction.