Terms & Conditions
TERMS AND CONDITIONS
You and KreditBharat Corporation, hereinafter referred to as "KreditBharat," hereby agree to be bound by the terms outlined in this Agreement by using our services, whether by clicking the "I Agree" or "I Accept" button, or by downloading, installing, or using the services offered. Please do not click "I Accept" or "I Agree," to download, install, or use our services if you do not accept the conditions that are displayed to you.
Here are the most recent definitions for the KreditBharat-specific provisions of the Agreement:
The "application" or "App" refers to the mobile application developed by KreditBharat to offer its loan services to customers.
The term "Lender" designates a bank or non-bank financial institution (NBFI) with whom KreditBharat has a loan-sanctioning agreement. The Lender approves, manages, and provides loans to consumers via the Platform.
The phrase "Company" or "we" refers to KreditBharat, a business that is duly incorporated and has its registered office at [Registered Office Address], as per the Companies Act of 2013.
"Customer," "You," or "End-User": Any individual who accesses, makes use of, views, or saves the Platform and the Services it offers.
"Loan": The financial assistance that Platform users may request. The Lender grants and disburses this loan to the Customer.
Loan Repayment and Fee Information:
In accordance with the terms of this Agreement, you acknowledge that a Lender will provide a loan to you. By accepting a loan offer, you agree to repay the loan in full, including any fees, according to the repayment schedule in your loan agreement. You authorize the lender to automatically withdraw repayment amounts from your registered bank account on the due dates. Repayments must be made in full and on time according to your agreement. You acknowledge that you will be liable for any costs associated with collection if you fail to repay on time.
KreditBharat and/or the Lender, at their sole discretion, may adjust the repayment schedule. If you'd like to prepay your loan, you may do so with no additional fees. Interest is charged on a daily basis, so prepayment will reduce the overall interest paid.
| Loan Amount | APR | Tenure | Processing Fee | GST on Processing Fee | Amount Disbursed | EMI | Total Repayment Amount | Total Interest |
|---|---|---|---|---|---|---|---|---|
| Rs.10000 | 240% to 365% | 1-3 Months | Rs.800-1000 | 18% | Rs. 9000 to 9200 | Rs. 4000 | Rs.12000 | Rs.2000 |
| Rs.50000 | 240% to 365% | 1-3 Months | Rs.4000-5000 | 18% | Rs. 45000 to 46000 | Rs. 20000 | Rs.60000 | Rs.10000 |
By accepting these terms and conditions, you confirm that you understand and agree to the loan repayment terms and the fee structure outlined above. You also acknowledge that you have the financial capacity to repay the loan according to the agreed schedule.