loan-tnc

Terms & Conditions:

These terms and conditions are applicable for Customers who have demonstrated their interest to ONE97 Communications Limited for availing Loan Products through the One97 website, email, sms or application or through any other means (collectively referred to as “Application”). These terms and conditions are divided in two parts- Part A and Part B and Your acceptance of these terms and conditions would imply acceptance of both Part A and Part B. Further, You hereby confirm that You have read and understood the below terms either by Yourself or have had them translated in Your vernacular language by somebody who is fluent in English.

PART A
  • INTRODUCTION: ONE97 Communications Limited, a company incorporated under the laws of India, having its registered office at First Floor, Devika Towers, Nehru Place, New Delhi-110019 and its principal place of business at B-121, Sector-5, Noida-201 301 (hereinafter referred to as “One97/ we/ our”) has entered into arrangement with several Financial Entities and other non-Financial Entities (collectively referred to as “Business Partners”) to bring loan offers or such other similar products for its customers (hereinafter referred to as “Customer/ You/ Your”). Weunderstand and acknowledgethe requirements and expectations that the Customers may have regarding maintenance of privacy, confidentiality and security of their information that resides with One97. Accordingly it is of utmost importance to us to keep all information relating to our Customers safe, secure and prevent any misuse.
  • PERSONAL INFORMATION: Personal Information (which may be a Sensitive personal data or Information (“SI”) means any information /documents/details that relates to a natural person, which either directly or indirectly, in combination with other information available or likely to be available with the One97, can identify such person (“Personal Information”). Personal Information also includes but not limited to details pertaining to Your name, parentage, marital status, nationality, state or city of residence/ postal adddress, email address, date of birth, gender, contact number/mobile number, bank account details ,details of Your transactions done on One97 or its affiliates Websites, photograph, signature image, and other Know Your Customer (KYC) documents like address proof, identity proof, income proof, PAN or such other officially valid documents/details accepted for the purpose of processing a financial transaction which are shared/ uploaded by You, as and when You avail the products and services vide any online/ offline application forms and questionnaires through usage of One97 Website or mobile application and/or which One97 may become privy to during the course of its business transactions with You.
  • CONSENT:
    • One97 shall obtain Your consent in writing (and includes electronic consent) before collecting, storing or sharing Personal Information for providing Services. Your Application is also Your consent for collecting. storing or sharing Personal Information for providing Services. One97 shall not be responsible for the authenticity of the Personal Information supplied by You. Personal Information which is provided or collected from You are solely for the purposes connected with the Terms of Use which has been agreed by You to provide various products or services or facilities by One97 or any of its Business Partners.
    • While providing the details/documents /Personal Information over the Website, You expressly consent to One97 and its affiliates and Business Partners to contact You, to make follow up calls in relation to the services provided through the Website, for imparting product knowledge, offering promotional offers running on Website & various other offers offered by its Business Partners on the Websites.
    • The usage of the Website / making Application may also require You to provide consent for keying in/ uploading Your Personal Information and Sensitive Information, as may be necessary to process Your application through the Website.
    • You hereby authorize and expressly give Your consent to share Your Personal Information with One97’s affiliates, the Business Partners and other third parties including but not limited to Credit Information Companies or other Entities which provide similar information, to do an aggregate check of Your credit profile and for One97 to send You targeted communications and offers. You hereby also consent One97 to procure credit information and indicative scores from the credit information companies on Your behalf.
    • You expressly waive the Do Not Call (DNC) / Do Not Disturb (DND) registrations on Your phone/mobile numbers for contacting You for this purpose. Such modes of contacting You may include sending SMSs, email alerts, personal visits and / or telephonic calls.
  • One97 will not sell or rent Your Personal Information to anyone, for any reason, at any time. However, we will be sharing Your Personal Information and Sensitive Information with our affiliates and Business Partners including credit information companies, where we feel that You will be assisted better for the purpose of underwriting and approval of Your loan any other financial product transaction/related transaction or for doing an aggregate check of Your credit profile on Your behalf and sending You targeted communications and offers.
  • In order to provide Your bank statement or pay slip electronically along with Your loan application, You also must provide Your third-party account credentials ("Account Credentials") to allow One97 to retrieve Your account data at those other financial institutions ("Account Information") for Your use. Your Account Credentials are only used once to retrieve Your bank statements/pay slips, Form 26 AS and are not stored in our system. However, One97 shall not be liable to You against any liability or claims which may arise out of such transactions being carried on Your own accord.
  • We may also use third party service providers to provide the Service to You, such as sending e-mail messages on our behalf or hosting and operating a particular feature or functionality of the Service. Our contracts with these third parties outline the appropriate use and handling of Your information and prohibit them from using any of Your Personal Information for purposes unrelated to the product or service they're providing. We require such third parties to maintain the confidentiality of the information provide to them.
  • DISCLOSURE / SHARING:
    • One97 does not disclose Personal Information including SI of a Customer except as directed by law or as per mandate received from the Customer / applicant. Upon Your written request One97 will provide You with information on whether we hold any of Your Personal Information. No specific information about customer accounts or other personally identifiable data is shared with non-affiliated third parties unless any of the following conditions is met:
      • To help complete a transaction initiated by You
      • To perform support services through a third party service provider, provided it conforms to the Privacy Policy of the One97 and Your prior consent to do so is obtained
      • You have specifically authorized for such disclosure.
      • The disclosure is necessary for compliance of a legal obligation or as required by law, such as to comply with a subpoena, or similar legal process
      • The information is shared with Government agencies mandated under law
      • The information is shared with any third party by an order under the law
    • There are number of products/services such as loans, credit cards, mutual funds, offered by third Parties on the Website, such as lenders, banks, credit card issuers. If You choose to apply for these separate products or services, disclose information to these providers, then their use of Your information is governed by their privacy policies. One97 is not responsible for their privacy policies.
  • EMAIL & SMS COMMUNICATIONS FROM US AND OUR PARTNERS: Except where specifically agreed by You or it is necessary for operational or regulatory reasons, One97 or any Third Party Service entity will not send You any unsolicited information/communication. You can nevertheless unsubscribe from receipt of such emails by communicating accordingly to One97.
PART B
  • I/We declare that I am/we are citizens of/resident in India, are of sound mind, legal age and capacity to enter into a binding contract and are not otherwise barred from availing services offered/ facilitated through One97 under applicable laws.
  • I/We confirm that there are no insolvency proceedings against me/us nor have I/we ever been adjudicated insolvent.
  • I/ We understand that One97 hereby offers me/us access to information primarily about certain financial and/ or credit products/services including, but not restricted to, personal loans, business loans and other similar products (“Services”). These financial and or credit products/services (Facility) are third party services provided by third parties (Business Partners), which may require retrieving and using my/our information for offering me/ us the Services.
  • I/ We understand that the Services are provided on a commercially reasonable best effort basis and on as-is and as-available basis, as made available by Business Partner(s). I/ We agree that my/our participation for availing the above mentioned Services is purely at my free will and consent. One97 does not guarantee the grant or continued access to such Services.
  • I/ We acknowledge that One97 does not make any representation or warranty towards the services being offered by the Business Partner.
  • I/we declare, warrant and represent that all the particulars, information and details given / filled in the application form and documents, including but not limited to Merchant Identification Number, mobile number, address for communication, etc. given by me/us to One97 or the Business Partner are true, correct, current and accurate and I/We have not withheld / suppressed any material information. I/ We hereby undertake to inform/update of any change in such information promptly and keep it up-to-date and accurate at all times, as it has a direct bearing on the provision of Services.
  • I/We further acknowledge and appreciate that my application/ request for a Facility can be routed to multiple Business Partner at the discretion of One97 and that the names of the Business Partner, if provided, is only illustrative.
  • As a precondition to availing Services through One97, I/ We undertake to furnish any and all Personal Information or other information as required by One97, including but not limited to i) KYC information as required by RBI and/or the Business Partner from time to time; ii) Information and data relating to me/us and our directors, group companies and related persons/ entities; iii) Information or data relating to any credit/ financial facility availed of/to be availed, by me/us; and iv) Default, if any, committed by me/us, in fulfilment of any responsibility, to all or any third parties.
  • I/We acknowledge and appreciate that the Business Partner and One97 will have right to seek information related to the business transactions from my/our partners for the purpose of the sanction of any Facility and ongoing monitoring in relation thereto. Further, I/We grant to One97, the right to share the transaction or financial information relating to my/our business on its or its related entity’s platform, with the Business Partner.
  • I/We further acknowledge and declare that the funds availed by me/us pursuant to the Facility shall be used for the purpose for which such a Facility has been granted and will not be used for any speculative, prohibited, forbidden, illegal, unlawful or anti-social purposes whatsoever.
  • I/We Understand and acknowledge that: For the purpose of assessing our credit worthiness, One97, its related entities/affiliates or the Business Partners are authorized to get information about me from CIBIL and/or any other credit information company, credit rating agency, credit bureau , and disclose/ furnish data of the applicant(s), directors, group companies, and any other related individuals, on behalf of whom request for Facility is raised;
  • I/We are aware that sanction & approval of the Facility will be at the sole discretion of the Business Partner and is subject to my/our execution of necessary documents, providing any security (ies) and other formalities to the satisfaction of such Business Partner and/or One97. I/ We hereby undertake to do all such acts as are necessary for availing any Facility granted to me.
  • I/We agree that One97 or the Business Partner, at its sole discretion, may reject my/our application without providing any reasons, and that I/We reserve no right to appeal against this decision. I/We further understand and agree that the application fee and processing fee are non-refundable and upon my/our application being rejected for any reason whatsoever, or the same being withdrawn by me, I/we shall not be entitled to a refund of the same either in part or full.
  • I/We undertake to furnish, at all times, any and all additional information/ documents that may be required by One97 or Business Partner from time to time, in true and complete form. I/ We acknowledge that the information given in the loan application and subsequently upon request, shall form the basis of any loan One97 or any other Business Partner through One97 may decide to grant me/us. Further, I/We understand that One97 has no role in determining the sanction/ approval of the Facility.
  • I/ We agree that One97 reserves the right to retain the photograph & the documents submitted with the applications & may not return the same to the applicant.
  • I/We shall at all times abide by the terms of the agreement(s) basis which the facility is granted to me/us.
  • I/ We acknowledge that One97 shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any Services. My/ Our interaction with any the Business Partner is at my/ our own risk, and One97 will have no liability whatsoever with respect to the any and all acts, omissions, errors, representations, warranties, breaches or negligence of any such third parties or for any damages or injuries caused to me/ us as a result of my/ our interaction with the third parties.
  • I/ We consent and hereby authorize One97 and its related entities perpetually to collect, use, share, store and otherwise deal with information submitted by me or data regarding availing, repayment and disbursement of the loan or any other services availed by me/us including sharing this information with various Business Partners for providing me/ us with better Services. I/ We agree to receive communications through emails, telephone and/or SMS, from One97, its related entities/affiliates or its third party vendors/Business Partners regarding the Service updates, information/promotional emails, any offers and/or product announcements.
  • In the above context, I/We agree and consent to receive all communications at the mobile number provided, even if this mobile number is registered under DND/NCPR list under TRAI regulations. And for that purpose, I/We further authorize One97 and its related entities to share/disclose the information to any third party service provider, Business Partners or any affiliates, group companies, their authorized agents.
  • I/ We understand and agree that One97 and/or its related entities may develop analyses/normalization/reports/compilations etc. from my/ our information, repayment pattern and/or interactions on Paytm platform, in a format as they may deem fit. This shall be the proprietary information of One97 and/ or its related entities respectively.
  • I/ We understand that One97, its related entities or Lenders, or any third party so authorised by them may conduct physical audits, inspections, visits at my premises or carry out background check/ inquiries from third parties on receipt of my application or after grant of the facility. I/ We further understand and agree that I may get follow up calls, emails, and reminders for repayment of the facility from One97, its related entities, Business Partners or any recovery agents.
  • I/ We acknowledge that One97 hereby disclaims all warranties, express or implied, written or oral, in relation to the provision of its services.
  • I/ We understand that One97 can, at its sole discretion, modify/ terminate/ suspend or cancel the Services provided herein.
  • I/ We shall act in good faith at all times in relation to all dealings with One97, its related entities and the Business Partner.
  • I/ We shall indemnify One97 and its related affiliates/entities to make good any loss, damage, interest, or any other financial charge that One97 may incur and/or suffer, whether directly or indirectly, as a result of me/ us committing violations of these Terms and Conditions.
  • I/We shall indemnify and hold One97 harmless for any / all actions, proceedings, claims, liabilities (including statutory liability), penalties, demands and costs, awards, damages and losses arising out of wrongful or illegal use of the Services.
  • I/We confirm that we have carefully read and fully understood all the terms and conditions. I/We accept the terms & conditions unconditionally and agree that these terms and conditions may be amended or modified by One97 at any time and I/we will be bound by the amended terms & conditions that are in force.
  • I/ We understand that these terms and conditions shall be governed by and construed in accordance with the laws of India, the courts at Delhi shall have exclusive jurisdiction in relation to any disputes arising out of or in connection herewith.

    The above terms shall, at all times, be read in conjunction with the Privacy Policy and other terms of the platform ‘www.paytm.com’.