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Cash by CRED - terms & conditions

1. Acceptance of Terms

These Terms and Conditions ("Terms") govern your access to and use of Cash by CRED, a digital platform operated by Dreamplug Technologies Private Limited ("CRED", "we", "us", or "our"), a company incorporated under the Companies Act, 2013, with its registered office at Bengaluru, Karnataka, India.

By downloading, installing, accessing, or using the Cash by CRED application ("App") or any part of the Service, or by ticking the checkbox indicating your acceptance of these Terms, you ("User", "you", or "your") agree to be bound by these Terms, our Privacy Policy, and any other policies or guidelines incorporated herein by reference. If you do not agree to these Terms, you must immediately cease all access to and use of the Platform.

These Terms constitute a legally binding agreement between you and CRED. Your continued use of the Platform following any modification to these Terms shall constitute your acceptance of the revised Terms.

2. Definitions

In these Terms, unless the context otherwise requires:

  • "App" means the Cash by CRED mobile application made available on Android and/or iOS platforms.
  • "Bureau" means CRIF High Mark Credit Information Services Private Limited, a Credit Information Company licensed by the Reserve Bank of India under the Credit Information Companies (Regulation) Act, 2005 ("CICRA").
  • "Credit Score" means the numerical score generated by the Bureau based on a User's credit history and shared with the User and Partner Lenders upon the User's explicit consent.
  • "EMI" or "Equated Monthly Instalment" means the fixed monthly amount payable by a borrower to a Partner Lender comprising repayment of principal and interest over the loan tenure.
  • "KYC" means Know Your Customer documentation and verification requirements as mandated by applicable law and the Partner Lender.
  • "Loan" means a credit facility offered by a Partner Lender to an eligible User through the Platform.
  • "Loan Calculator" means the indicative EMI and interest estimation tool available on the App, which allows Users to estimate loan repayment schedules.
  • "Partner Lender" means any bank, non-banking financial company (NBFC), or other regulated financial institution that is registered with the Reserve Bank of India ("RBI") and that has entered into an agreement with CRED to offer Loan products to Users through the Platform.
  • "Platform" means the Cash by CRED App, website, and associated technology infrastructure operated by CRED for the purpose of providing the Services and facilitating Loan applications between Users and Partner Lenders.
  • "Services" means the services provided by CRED through the Platform, including but not limited to the Loan Calculator, Credit Score check, loan application facilitation, and related features.

3. About Cash by CRED and Nature of Services

3.1  Cash by CRED is a technology-driven digital platform that provides various Services to the Users , including but not limited to the Loan Calculator, Credit Score check, Loan application facilitation, and related features. For Loan application, the App acts as a Digital Lending app & connects eligible Users with Partner Lenders for the purpose of facilitating access to Loan products. CRED acts solely as a digital facilitator and does not itself engage in lending, credit underwriting, or loan disbursement activities.

3.2  CRED is not a bank, NBFC, or any other form of financial institution regulated under the Reserve Bank of India Act, 1934, the Banking Regulation Act, 1949, or the Non-Banking Financial Companies (NBFC) regulations. CRED does not lend money to Users.

3.3  All Loans offered through the Platform are provided solely by Partner Lenders. The credit decision, loan approval, interest rate, processing fee, sanction amount, tenure, and all other terms and conditions of any Loan shall be determined exclusively by the relevant Partner Lender at its sole discretion, subject to applicable RBI regulations and the Partner Lender's own credit policies.

3.4  CRED is not responsible or liable for any decisions made by Partner Lenders regarding loan sanctioning, disbursement, rejection, or any other aspect of the lending relationship between the User and the Partner Lender.

3.5  CRED is not involved in the collection, recovery, or enforcement of loan repayments. All repayments, collections, and recovery activities are the exclusive responsibility of the relevant Partner Lender and shall be subject to the loan agreement entered into between the User and the Partner Lender.

4. Eligibility

To access and use the Platform, you must satisfy all of the following conditions:

  1. You are a citizen of India and a resident of India;
  2. You are at least 18 (eighteen) years of age;
  3. You have the legal capacity to enter into binding contracts under the Indian Contract Act, 1872;
  4. You possess a valid Indian mobile number that is linked to your Aadhaar number and/or registered with a bank for KYC purposes;
  5. You are not a minor, undischarged insolvent, or person otherwise incapacitated from entering into contracts under applicable law;
  6. You have not been previously banned or suspended from the Platform by CRED.

CRED reserves the right to verify your eligibility at any point in time and to suspend or terminate your access to the Platform if you do not meet the eligibility criteria. The eligibility criteria for any specific Loan product may be more restrictive and shall be determined by the relevant Partner Lender.

5. Account Registration and Verification

5.1  To access the Services, you must register on the Platform by providing your valid Indian mobile number. CRED will send a one-time password ("OTP") to the mobile number provided by you via SMS for verification purposes. By submitting your mobile number and the OTP, you confirm that the mobile number provided is yours and that you have the right to use it.

5.2  You agree to provide accurate, complete, and current information during registration and to keep your account information updated at all times. You are solely responsible for maintaining the confidentiality of your account credentials and for all activities that occur under your account.

5.3  You must notify CRED immediately at the grievance email address specified in these Terms if you suspect any unauthorised access to or use of your account. CRED shall not be liable for any loss or damage arising from unauthorised use of your account.

5.4  CRED reserves the right to refuse registration, suspend, or terminate any User account at any time, with or without prior notice, if CRED believes that the User has violated these Terms or applicable law, or if required to do so by a competent authority.

5.5  You consent to receive communications from CRED, including transactional messages, promotional communications, service updates, and regulatory notifications, via SMS, email, push notifications, or other means to the mobile number or email address registered with your account. You may opt out of promotional communications by following the opt-out instructions provided in such communications, however transactional and regulatory messages cannot be opted out of.

6. Loan Calculator

6.1  The Platform provides a Loan Calculator tool that allows Users to input loan parameters such as loan amount, rate of interest (per annum), and loan tenure in order to obtain an indicative estimate of the EMI, total interest payable, and total repayment amount on a reducing balance basis.

6.2  The Loan Calculator is provided for general informational and illustrative purposes only. The results generated by the Loan Calculator are indicative estimates based solely on the inputs provided by the User and do not constitute a loan offer, commitment to lend, guarantee of any specific interest rate, or approval of any Loan application.

6.3  The actual loan amount, interest rate, processing fee, tenure, EMI, and all other terms and conditions of any Loan shall be determined by the relevant Partner Lender at its sole discretion and may differ materially from the estimates generated by the Loan Calculator.

6.4  The Loan Calculator displays processing fees as applicable, which may vary by Partner Lender and loan product. CRED does not guarantee the accuracy or completeness of the processing fee information displayed.

6.5  Users may save loan calculations on the Platform for future reference by assigning a title to the saved calculation. Saved calculations are stored locally on the User's device and/or on CRED's servers as part of the Service. CRED does not warrant that saved calculations will be available indefinitely and may delete saved calculations at any time.

6.6  CRED shall not be liable for any financial decision made by a User based on the outputs of the Loan Calculator. Users are encouraged to seek independent financial advice before applying for any Loan product.

7. Credit Score Check

7.1  The Platform enables Users to access their credit score by fetching data from CRIF High Mark Credit Information Services Private Limited ("CRIF" or the "Bureau"), a licensed Credit Information Company under the Credit Information Companies (Regulation) Act, 2005 ("CICRA").

7.2  By requesting your Credit Score through the Platform, you explicitly and unconditionally authorise CRED and/or the relevant Partner Lender to submit an enquiry to CRIF and other credit information companies, as applicable, to fetch your credit report and/or credit score. This consent constitutes valid consent under the CICRA and the applicable regulations issued by the RBI and CRIF.

7.3  You acknowledge and agree that:

  1. Your credit score and credit report are generated by CRIF based on information reported by credit institutions to CRIF. CRED has no control over and bears no responsibility for the accuracy, completeness, or currency of your credit report or credit score.
  2. CRED provides the Credit Score solely as a facilitator and does not independently verify, analyse, or certify the accuracy of the credit information provided by CRIF.
  3. A credit enquiry submitted to a credit bureau may be recorded as a "hard enquiry" or "soft enquiry" on your credit report, depending on the nature of the enquiry. Frequent credit enquiries may affect your credit score. CRED is not responsible for any impact on your credit score resulting from enquiries made through the Platform.
  4. The Credit Score displayed on the Platform is for informational purposes only and does not constitute a representation or warranty by CRED regarding your creditworthiness or eligibility for any Loan product.

7.4  If you believe that any information in your credit report is inaccurate or incomplete, you must raise a dispute directly with CRIF or the relevant credit institution in accordance with the dispute resolution process prescribed by CRIF and the CICRA. CRED is not responsible for resolving disputes related to credit report information.

7.5  CRED may store and use your credit score information in accordance with its Privacy Policy for the purpose of providing the Services, including presenting you with relevant Loan product offers from Partner Lenders.

8. Loan Application and Journey

8.1  The Platform facilitates the submission, processing, and tracking of Loan applications by connecting Users with Partner Lenders through application programming interfaces ("APIs") and digital integrations. CRED acts as a digital channel for loan origination on behalf of Partner Lenders.

8.2  The loan application journey on the Platform may include some or all of the following steps, subject to the requirements of the relevant Partner Lender:

  1. Mobile number verification via OTP;
  2. Collection of personal and demographic information (name, date of birth, PAN, address, etc.);
  3. Collection of employment and income information;
  4. KYC verification (including Aadhaar-based eKYC or video KYC as required by the Partner Lender);
  5. Credit bureau check and credit score retrieval;
  6. Submission of the loan application to Partner Lenders;
  7. Review and underwriting decision by the Partner Lender;
  8. Presentation of Loan offer(s) to the User;
  9. Acceptance of loan terms and execution of Key Fact Statement (KFS) and Loan agreement by the Users with the Partner Lender and mandate setup and other requirements as may be required by the Partner Lender;
  10. Disbursement of the Loan amount to the User's verified bank account by the Partner Lender.

8.3  By initiating a loan application through the Platform, you authorise CRED to share your personal information, financial information, credit information, KYC documents, and other data provided by you or fetched on your behalf (including credit bureau data) with the relevant Partner Lender(s) for the purpose of evaluating your Loan application.

8.4  Upon acceptance of a Loan offer from a Partner Lender, you will be required to enter into a separate Loan agreement with the Partner Lender, which will govern all aspects of the Loan, including the loan amount, interest rate, tenure, EMI, prepayment charges, foreclosure terms, and all other terms and conditions. CRED is not a party to the Loan agreement between you and the Partner Lender.

8.5  The presentation of Loan offers or the completion of the Loan application process on the Platform does not guarantee the approval or disbursement of any Loan. All credit underwriting decisions are made exclusively by Partner Lenders.

8.6  All loan amounts shall be disbursed directly to your verified bank account by the Partner Lender. CRED is not involved in the disbursement of Loans.

8.7  All loan repayments, including EMI payments, prepayments, and foreclosures, are payable directly to the Partner Lender in accordance with the Loan agreement. CRED is not involved in the collection, recovery, or enforcement of any loan repayments. You must contact the relevant Partner Lender directly for any queries or issues related to repayment, outstanding dues, or collections.

9. User Obligations and Prohibited Activities

9.1  You agree that you will use the Platform only for lawful purposes and in accordance with these Terms. You represent and warrant that:

  1. All information provided by you on the Platform is true, accurate, complete, and current;
  2. You will not use the Platform for any fraudulent, misleading, or unlawful purpose;
  3. You will not submit false KYC documents, misrepresent your income or financial status, or otherwise provide misleading information to CRED or Partner Lenders;
  4. You will not use another person's identity, mobile number, bank account, or financial information without their explicit consent;
  5. You have the authority to share all information and documents provided by you with CRED and Partner Lenders;
  6. You will comply with all applicable laws, regulations, and guidelines, including those issued by the RBI, SEBI, IRDAI, and other regulatory bodies.

9.2  Prohibited Activities: You agree not to:

  1. Attempt to gain unauthorised access to any portion of the Platform or its underlying systems, networks, or servers;
  2. Reverse-engineer, decompile, disassemble, or attempt to derive the source code of the App or any portion thereof;
  3. Introduce any viruses, malware, trojans, worms, or other harmful code into the Platform;
  4. Use any automated tools, bots, scrapers, or data mining techniques to access the Platform without CRED's prior written consent;
  5. Circumvent, disable, or otherwise interfere with any security features, authentication mechanisms, or access controls on the Platform;
  6. Use the Platform to transmit any unsolicited or unauthorised promotional communications;
  7. Use the Platform in a manner that could damage, disable, or impair CRED's systems or servers or interfere with other Users' use of the Platform;
  8. Resell, sublicense, or otherwise commercially exploit the Platform or Services without CRED's prior written consent.

10. Intellectual Property

10.1  All content, features, and functionality of the Platform, including but not limited to the software, text, graphics, logos, icons, images, user interface design, and the "Cash by CRED" and "CRED" names and marks, are the exclusive property of CRED or its licensors and are protected by applicable intellectual property laws, including the Copyright Act, 1957 and the Trade Marks Act, 1999.

10.2  CRED grants you a limited, non-exclusive, non-transferable, revocable licence to access and use the Platform solely for your personal, non-commercial use and strictly in accordance with these Terms. This licence does not include any right to sublicense, resell, reproduce, modify, publicly display, or distribute any content from the Platform.

10.3  You must not remove, alter, or obscure any copyright, trademark, or other proprietary rights notices displayed on or incorporated into the Platform.

11. Third-Party Services and Links

11.1  The Platform may contain links to third-party websites, applications, or services, including those of Partner Lenders. These third-party services are not under CRED's control, and CRED makes no representations or warranties with respect to them. Your use of any third-party service is subject to that third party's own terms and conditions and privacy policy.

11.2  CRED is not responsible for any loss or damage arising from your use of third-party services or your reliance on any information provided by third parties, including Partner Lenders. Any disputes arising from your interaction with a Partner Lender must be resolved directly with that Partner Lender.

12. Disclaimer of Warranties

12.1  The Platform and Services are provided on an "as is" and "as available" basis without any warranties of any kind, express or implied, including but not limited to warranties of merchantability, fitness for a particular purpose, accuracy, reliability, non-infringement, or uninterrupted access.

12.2  CRED does not warrant that:

  1. The Platform will be available without interruption, error-free, or free of viruses or other harmful components;
  2. The information displayed on the Platform, including Loan Calculator outputs and Credit Scores, will be accurate, complete, or current;
  3. Any Loan application submitted through the Platform will be approved by any Partner Lender;
  4. The Services will meet your specific requirements or expectations.

12.3  CRED is not responsible for any financial loss, credit impact, or other harm arising from your reliance on the Loan Calculator estimates, Credit Score information, or loan offers presented on the Platform.

13. Limitation of Liability

13.1  To the maximum extent permitted by applicable law, CRED, its directors, officers, employees, agents, partners, and licensors shall not be liable for any indirect, incidental, special, consequential, exemplary, or punitive damages, including loss of profits, loss of data, loss of goodwill, business interruption, or any other intangible loss.

13.2  In no event shall CRED's total aggregate liability to you arising out of or related to these Terms or the Services for all damages, losses and causes of action (whether arising under contract or otherwise), exceed INR 5,000 (Indian Rupees Five Thousand).

14. Indemnification

You agree to indemnify, defend, and hold harmless CRED, its subsidiaries, affiliates, directors, officers, employees, agents, and licensors from and against any and all claims, damages, losses, liabilities, costs, and expenses (including reasonable legal fees) arising from or relating to: (a) your use of or access to the Platform or Services; (b) your violation of these Terms; (c) your violation of any applicable law or the rights of any third party; (d) any false, inaccurate, or misleading information provided by you on the Platform; or (e) any dispute between you and a Partner Lender.

15. Grievance Redressal

15.1  If you have any complaint, dispute, or grievance regarding the Services, you may contact CRED's Grievance Officer at the following details:

Grievance Officer: Atul Patro

Email: grievance@cred.club

Address: Dreamplug Technologies Private Limited, Bengaluru, Karnataka, India

Telephone No: 080-62209150

15.2  We shall acknowledge your grievance within 48 (forty-eight) hours and endeavour to resolve it within 30 (thirty) business days of receipt. If you are not satisfied with the resolution, you may escalate the matter to the relevant regulatory authority.

15.3  For grievances related to the Loan terms, repayment, collections, or any other aspect of the Loan agreement, you must contact the relevant Partner Lender directly. CRED is not responsible for resolving disputes between Users and Partner Lenders.

15.4  For grievances related to your credit report or credit score, you must contact CRIF High Mark directly at their published grievance contact details.

16. Governing Law and Dispute Resolution

16.1  These Terms and any dispute, controversy, or claim arising out of or in connection with these Terms, the Platform, or the Services shall be governed by and construed in accordance with the laws of India, without regard to its conflict of law provisions.

16.2  In the event of any dispute between you and CRED arising out of or related to these Terms or the Services, the parties shall first attempt to resolve the dispute amicably through good faith negotiations. If such dispute has not been settled within sixty (60) days after the dispute has been first raised, such dispute can be referred to and shall be exclusively and finally resolved by arbitration under the Arbitration and Conciliation Act, 1996 (“Act”). Provided however when CRED raises any dispute, CRED may directly initiate arbitration in accordance with this clause. The dispute shall be resolved by sole arbitrator to be mutually appointed by the parties. The place the arbitration shall be Bengaluru, India. The language of the arbitration shall be English. The existence and content of the arbitration proceedings, including documents and briefs submitted by the parties, and correspondence, orders and awards issued by the sole arbitrator, shall remain strictly confidential and shall not be disclosed to any third party without the express written consent from the other party unless: (i) the disclosure to the third party is reasonably required in the context of conducting arbitration proceedings; and (ii) the third party agrees unconditionally in writing to be bound by the confidentiality obligation stipulated herein.

17. Modifications to Terms

17.1  CRED reserves the right to modify, amend, or update these Terms at any time at its sole discretion. Any such modifications shall be effective immediately upon posting the revised Terms on the Platform, or upon such later date as may be specified in the revised Terms.

17.2  Your continued use of the Platform following the effective date of any modification constitutes your acceptance of the revised Terms. If you do not agree to the revised Terms, you must cease using the Platform immediately.

18. Miscellaneous

18.1  Entire Agreement: These Terms, together with the Privacy Policy and any other policies or notices published by CRED on the Platform, constitute the entire agreement between you and CRED with respect to the subject matter hereof and supersede all prior agreements, understandings, or representations.

18.2  Severability: If any provision of these Terms is held to be invalid, illegal, or unenforceable by a court of competent jurisdiction, such provision shall be modified to the minimum extent necessary to make it enforceable, and the remaining provisions shall continue in full force and effect.

18.3  Waiver: CRED's failure to enforce any right or provision of these Terms shall not constitute a waiver of such right or provision. A waiver of any right or provision shall be effective only if made in writing and signed by a duly authorised representative of CRED.

18.4  Assignment: You may not assign or transfer these Terms or any of your rights or obligations hereunder without CRED's prior written consent. CRED may assign or transfer these Terms, in whole or in part, without restriction or consent.

18.5  Force Majeure: CRED shall not be liable for any failure or delay in the performance of the Services to the extent caused by circumstances beyond CRED's reasonable control, including acts of God, natural disasters, war, terrorism, civil unrest, government actions, pandemics, or failure of third-party infrastructure.

18.6  Relationship of Parties: Nothing in these Terms shall create or be deemed to create a partnership, joint venture, agency, franchise, or employment relationship between you and CRED.

19. Contact Us

If you have any questions, concerns, or feedback regarding these Terms or the Platform, please contact us at:

Dreamplug Technologies Private Limited

Email: support@cred.club

Website: www.cred.club

Our Lending Partners

We facilitates distribution of loans for the following banks and NBFCs (Lenders):

i) Poonawalla Fincorp Limited (see website here, see privacy policy here)

Grievance redressal details of our lending partners;

The User is also entitled to contact the relevant Lender and/or follow the relevant Lender’s grievance redressal policy. The Lenders and their respective grievance redressal mechanisms are as listed below:

Poonawalla Fincorp Limited

Customer Care
email-id: customercare@poonawallafincorp.com
Mob No: 020-67808090

Grievance Redressal Officer: Arnab Das
email-id: grievance@poonawallafincorp.com
Mob No: 020-67808090

Grievance Policy: https://poonawallafincorp.com/documents/d/poonawalla-fincorp/grievance-redressal-policy

If your grievance remains unresolved, or if there is no response or if you are not satisfied with the response of Grievance Redressal Officer within 30 days of making the complaint, you may contact the Banking Ombudsman at https://cms.rbi.org.in/.

Sachet policy: https://sachet.rbi.org.in/    
RBI’s Complaint Management system: https://cms.rbi.org.in/cms/indexpage.html#eng