MOST IMPORTANT TERMS AND CONDITIONS

1. The Bank is inter alia engaged in the business of providing financial assistance to individuals and business entities through itself and through several Partners;a
2. PARTNER’s are entities which are inter alia engaged in the business of facilitating distribution of financial products and services. Further PARTNERs also at times assist the Bank with the recollection process as per the mutually agreed terms of Business Partnership Agreement between the Partner and Bank;
3. The Borrower is an individual who avails the technology services provided by Partner through the website and mobile application, and has now enlisted to avail the financial services and loan products provided by the Bank ("Facility"); and
4. MERCHANT is defined as a business entity that sells goods or services directly to the customers
5. The Borrower shall be responsible for ensuring the complete and timely repayment of the loan amount to the Bank.

1. Subject to the terms & conditions prescribed hereunder, the Bank may extend to the Borrower a loan amount ("Loan Amount") for a period as specified in the Schedule ("Term") through PARTNER which is acting as a facilitator between the Bank and the Borrower.
2. The Bank shall be entitled to vary at its discretion or at the request of the Borrower, the offer of the Facilities (i.e., increase/decrease or renew) sanctioned to the Borrower.
3. Notwithstanding anything contained above, the Facility shall be available on the sole discretion of the Bank. Bank can cancel or reduce the Facility at any point of time without assigning any reason thereof.

1. The Facility shall be made available to the Borrower only during the tenure of the Business Agreement between Bank and PARTNER and the same is available through the PARTNER App.
2. All utilisation of the Facilities will be converted to EMI with a fixed term with applicable rate of interest as communicated by the Bank & the Schedule, as per the request of the Borrower as well as in absolute discretion of the Bank.

1. The Borrower shall pay to the Bank interest as determined by the Bank and mentioned in the Schedule at the time of taking loan on all outstanding amounts under the Facilities.
2. The Borrower irrevocably acknowledges that any occurrence of breach of terms and conditions mentioned herein shall be deemed to require reassessment of initial credit parameters of the Borrower and as a consequence thereof, the Borrower shall, without demur/protest be liable to pay to the Bank, Penal charges (in lieu of the applicable rate of interest) as may be applicable, from the date of happening/nonhappening of the relevant conditions till such conditions are complied with to the satisfaction of the Bank.
3. Borrower agrees that Bank shall be entitled to charge Penal charges as mentioned in Schedule of charges/KFS. It is further specified that Penal charges as set out in the schedule are without prejudice to the Bank’s right to recall the entire loan or to initiate any recovery action. "Penal charges" means the charges which the Bank shall impose for delay in payments by the borrower. Said charges shall be over and above the applicable charges and interest rates as specified in the Schedule of Charges/Key Fact Statement and the same may be amended from time to time by the Bank.
4. The interest rate is subject to variation in consonance with RBI directions, statutory and regulatory requirements, any increase / variation in, conditions of money market, availability of loanable funds, internal policy of the Bank, ,.in case of deterioration of credit ratings, events of defaults reported in bureau, GST filling related issue, deterioration in the financials or any other similar events.
5. The Borrower shall bear all applicable taxes including GST in connection with the Agreement herein. In the event of the Borrower failing to pay the monies referred to above, the Bank shall be at liberty (but shall not be obliged) to pay the same. The Borrower shall reimburse all sums paid by the Bank in accordance with the provisions contained herein.
6. All payments by the Borrower under the Agreement mentioned herein shall be made free and clear of and without any deduction of tax or levy, except as required under the Law. Any taxes or levy so deducted by the Borrower shall be paid within the statutory time frame AND thereafter within 7 (seven) days of depositing such payment or as provided under Law, whichever is earlier, deliver to the Bank satisfactory evidence that the tax or levy so deducted at source has been duly remitted to the appropriate authority.
7. The Borrower who are liable to deduct the TDS, must pay TDS as per applicable rate for the interest and fees being paid to the Bank. Borrower must deposit the TDS amount so due into the government account within the due date prescribed. Once returns are filed, borrower must submit request letter along with TDS certificates in Form 16A generated from the income tax website to the Bank. Original TDS certificate should be submitted for claiming the refund.
8. The Borrower confirms that the Goods and Service Tax Identification Number (GSTIN) (if applicable) provided in the application form/ declaration is true and correct. The Borrower agrees and undertakes that the applicable tax rate will be determined using the information provided by the Borrower and the input tax credit (ITC) will be available to the Borrower (if applicable) based on the GSTIN and the related information/details provided by the Borrower in the application form/ declaration. The Borrower further agrees and undertakes that the Borrower shall not hold the Bank Limited liable for any loss of ITC arising due to incomplete, erroneous or wrong details pertaining to GST provided by the Borrower in the application form/ declaration. The Borrower also further agrees and undertakes that if the Borrower fails to furnish GSTIN, then the Borrower shall be treated as unregistered for Goods and Service Tax (GST) purpose and no credit of GST will be provided to the to the Borrower.

1. All interest, all commissions, discount and all other charges shall accrue from day to day and when debited to the relevant account shall be calculated on the daily debit balance of such account and which shall be computed on the basis of 360 days a year and the actual number of days elapsed.
2. The interest and commission on the Facilities will be charged to accounts, unless specified otherwise, on a monthly basis (and in case of closure of individual Facility account on the day of such closure) and payable by the Borrower.
3. The Borrower/s shall pay Charges, non-refundable upfront transaction/processing fees, and other charges as and when applicable.
4. The Borrower(s) shall pay to the Bank, the charges, fees, commissions, etc., specified on the Schedule hereto/Application or as specified by the Bank from time to time, within such time or upon occurrence of such events as specified and if not specified then forthwith upon demanded by the Bank. All other present and future costs and expenses, taxes as applicable from time to time), any related levy, stamp duty, in all jurisdictions, in relation to this/other documents/any transaction pursuant thereto, irrespective of who the beneficiary is, shall be borne and payable solely by the Borrower, including for creation, enforcement, preservation of security, recovery, initiation/defending/pursuing any legal proceedings/action by the Bank. In case of any such sums if paid or incurred by the Bank, the Borrower shall be liable to reimburse the same to the Bank in full forthwith.
5. Borrower hereby agrees and confirms that in case wherein the Borrower avails any third-party services through the Bank then the fees/ charges applicable for the said third party services shall be deducted from the Loan amount and the Bank shall not be held liable for the services provided by such third party. It shall be the sole discretion of the Borrower to opt for such third-party products and services and for any changes/cancellation on booking of such products will need to be done through relevant third party as per their product T&C. Bank shall not be liable for any claims and damages arising out of or in relation to third party product and services availed by the Borrower.

1. Dues shall mean the principal/interest/any charges levied on the loan account which are payable within the period stipulated as per the terms of sanction of the credit facility.
2. Overdue shall mean the principal/interest/any charges levied on the loan account which are payable but have not been paid within the period stipulated as per the terms of sanction of the credit facility. In other words, any amount due to the bank under any credit facility is 'overdue' if it is not paid on the due date fixed by the bank.
3. Non-Performing Asset (NPA) - is a loan or an advance where:
   1. interest and /or instalment of principal remains overdue for a period of more than 90 days in respect of a term loan.
   2. the account remains 'out of order' as indicated below in respect of an Overdraft/Cash credit (OD/CC).
4. "First In First Out" (FIFO) - The relevance of 'First in First Out' (FIFO) is in appropriation of payments into the borrower account; The Principle of FIFO i.e., ' First In First Out accounting method is relevant to arrive at the No of days of overdue for determining the SMA/NPA status. The FIFO principle assumes that the oldest outstanding dues in the loan account needs to be cleared first. The FIFO method thus requires that what is due first must be paid by the borrower first. For example: - If in any loan account as on 01.02.2021 there are no overdues and an amount of Rs. X is due for payment towards principal instalment/interest/charges any payment being credited on or after 01.02.2021 in the loan account will be used to pay off the dues outstanding on 01.02.2021. Assuming that nothing is paid/or there is partial payment (Rs Y) of dues during the month of February, the overdue as on 01.03.2021 will be Rs. X-Y. Additionally, an amount of Rs Z becomes due as on 01.03.2021. Now any payment partial payment into the account on or after 01.03.2021 will be first utilized to pay off the partial due of 01.02,2021(Rs X- Rs Y). If there is more recovery that the Rs. X- Rs. Y then after recovering dues of 01.02.201, the remaining amount will be treated as recovery towards due of 01.03.2021.
5. Age of Oldest Dues - The age of oldest dues is reckoned in days from the date on which the oldest payment is due and continues to remain unpaid. In the aforesaid illustration, if the Dues relating to 1st February 2021 remain unpaid till 01.03. 2021, the age of the oldest dues is reckoned as 29 days on 02.03.2021.
6. Classification as Special Mention Account (SMA) and Non-Performing Asset (NPA) Lending institutions will recognize the incipient stress in loan accounts, immediately on Default, by classifying them as Special Mention Accounts (SMA) The basis of classification of SMA /NPA Category shall be as follows:

   Loans other than revolving facilities		Loans in the nature of revolving facilities like cash credit/overdraft
   SMA Subcategories	Basis for classification - Principal or interest payment or any other amount wholly or partly overdue	SMA Subcategories	Basis for classification - Outstanding balance remains continuously in excess of the sanctioned limit or drawing power, whichever is lower, for a period of:
   SMA-0		Up to 30 days
   SMA-1	More than 30 days and up to 60 days	SMA-1	More than 30 days and up to 60 days
   SMA-2	More than 60 days and up to 90 days	SMA-2	More than 60 days and up to 90 days

   
   Out of Order - An account shall be treated as ' out of order ' if
   1. the outstanding balance in the CC/OD account remains continuously in excess of the sanctioned limit /drawing power for 90 days or
   2. the outstanding balance in the CC/OD account is less than the sanctioned limit/drawing power but there are no credits continuously for 90 days or the outstanding balance in the CC/OD account is less that the sanctioned limit/drawing power but credits are not enough to cover the interest debited during the previous 90 days.
   Illustrative movement of an account to SMA category to NPA category based on delay in payment of dues and subsequent upgradation to Standard category at day end process:



Due date of payment	Payment Date	Payment covers	Age of oldest dues in days	SMA / NPA Categorisation	SMA since Date /SMA class date	Categorization	NPA Date
01 .01.2022	01 .01.2022	Entire dues up to 01.01.2022		NIL
01 .02.2022	01 .02.2022	Partly paid dues of 01 .02.2022	1	SMA-O	01.02.2022
01 .02.2022	02 .02.2022	Partly paid dues of 01 .02.2022	2	SMA-O	01.02.2022		NA
01 .03.2022		Dues of 01.02.2022 not fully paid 01.03.2022 is also due at EOD 01 .03.2022	29	SMA-O	01.02.2022
		Dues of 01.02.2022 fully paid, Due for 01.03.2022 not paid at EOD 01.03.2022	1	SMA-O	01.03.2022
		No payment of full dues of 01.02.2022 and 01.03.2022 at EOD 03.03.2022	31	SMA-1	01.02.2022 03.03.2022
		Dues of 01.02.2022 fully paid, Due for 01.03.2022 not fully paid at EOD 1.03.2022	1	SMA O	01.03.2022
01 .04.2022		No payment of dues of 01 .02.2022 ,01 .03.2022 and amount due on 01.4.2022 at EOD 01 .04.2022	60	SMA 1	01.02.2022 03.03.2022
		No payment of dues of 01.02.2022 till 01.04.22 at EOD 02.04.2022	61	SMA 2	01 .02.2022 / 02.04.2022
01 .05.2022		No payment of dues of 01 .02.2022 till 01.05.22 at EOD 01 .05.2022	90	SMA 2	01 .02.2022 / 02.04.2022
		No payment of dues of 01.02.2022 till 01.05.2022 at EOD 02.05.2022	91	NPA		NPA	02.05.2022
01 .06.2022	01 .06.2022	Fully Paid dues of 01.02.2022 at EOD 01 .06.2022	93	NPA	NA		02.05.2022
01.07.2022	01.07.2022	Paid entire dues of 01 .03.2022 & 01.04.2022 at EOD 01.07.2022	62	NPA	NA	NPA	02.05.2022
01.08.2022	01.08.2022	Paid entire dues of 01 .05.2022 & 01.06.2022 at EOD 01 .08.2022	32			NPA	02.05.2022
01.09.2022	01.09.2022	Paid entire dues of 01 .07.2022 & 01.08.2022 at EOD 01 .09.2022	1				02.05.2022
01.10.2022	01.10.2022	Paid entire dues of 01.09.2022 & 01 .10.2022	0	Standard Account with No Overdues			STD from 01.10.2022


Note- Examples are illustrative and not exhaustive in nature covering common scenarios and that the IRACP norms and clarifications provided by RBI on the subject will prevail.


7. Amortization Schedule/Repayment Schedule;- The Amortization Schedule shall be provided separately after the disbursement of loan and shall consist of details pertaining to exact due dates for repayment of loan, breakup between principal and interest, in case of loan facilities with moratorium on payment of principal and or interest, the exact date of commencement of repayment etc., shall also be specified in the said amortization schedule

1. The Borrower shall make the payment either through PARTNER App and/or alternate channels enabled by Bank ("Repayment Mode") in the form of Net Banking/Debit Card/UPI and/or Standing Instruction/ECS/NACH ('Mandate') from Borrower owned KYC compliant account to the Bank.
2. The Borrower shall repay the Loan Amount availed under this Agreement and interest thereon in EMIs as specified or as may be specified by the Bank from time to time (time being the essence of the contract). The interest shall be at such rate which has been indicated by the Bank to the Borrower, at the time of availing/utilizing the Facility and as also as communicated to the Borrower thereafter. The interest calculation will start from the date of the confirmation of the request for availing the facility by the Borrower. The amount of the EMIs together with other details of the Loan Amount (including rate of interest) shall be also communicated to the Borrower at his/her registered email/mobile number.
3. The amount of EMI due for a particular month shall subsequently be reflected in the statement of that particular month. Bank is authorised by the Borrower to debit his/her Bank account as has been intimated to the Borrower.
4. The borrower agrees that in an event of partial cancellation of the loan, the amount for which the cancellation is applied shall be treated as part payment in the loan and a revised repayment schedule shall be drawn basis the remaining outstanding principal amount of the loan with the effect on the tenure of the loan.
5. The Borrower shall be required to re-pay the entire amount of the credit facility , through EMI for a particular month on the payment due date, as mentioned in the KFS determined by the Bank and indicated by the Bank and the same shall not be permitted to be carried forward/included in the next month. In the event the payment is not made by the due date as specified, it shall be construed as a default by the Borrower and the Borrower shall become liable to pay the amount together with the interest as may be leviable on his Facility and late payment charges, as specified by the Bank.
6. Notwithstanding anything in this Agreement, the Parties agree that the Borrower shall, at all times, have the right to make repayment to the Bank in whole or part of the Loan Amount. Charges if any, will be applicable as per the schedule of charges. The Borrower has perused, understood and agreed to the Bank's method of calculating repayment amount EMI's as also the appropriation thereof into principal and interest.
7. The Bank may at any time, without assigning any reasons and without notice to the Borrower demand repayment thereof, and thereupon the principal amount outstanding together with all interest, charges expenses etc. thereon shall become immediately due and payable by the Borrower to the Bank.
8. The payment of all the monies by the Borrower including EMI's shall be made on or before the respective due dates, at such place as the Bank may require, without any set-off or counterclaim or withholding or deduction(save as required by law in which case the amount payable by the Borrower to the Bank shall be increase to the amount which after making such deduction or withholding equals the original due amount as if no withholding or deduction were required), by way of one or more modes and instruments including post-dated cheques “PDCs”), Standing Instructions(SI)/Electronic Clearing System(ECS) instructions/other mode/instrument, as acceptable to the Bank from time to time.
9. If the due date in respect of any amounts payable under the Facilities falls on a day which is not a business day at the place where the payment is to be made, the immediately preceding or succeeding business day shall be the Due Date for such payment.
10. The Borrower shall reimburse all sums paid and/or expenses incurred by the Bank (including by or on behalf of their representatives/consultants/appraiser) in relation to the Facilities immediately. All such sums shall carry interest from the date of payment till such reimbursement at the applicable rate of Interest or such other rate as may be stipulated by the Bank and the Borrower hereby authorizes the Bank to debit any of its account for the aforesaid charged together with interest.
11. The Borrower agrees, declares and confirms that, notwithstanding any of the provisions of the Indian Contract Act, 1872 or any other Law, or any terms and conditions to the contrary contained herein, the Bank may, at its absolute discretion, appropriate any payments made by the Borrower under this Terms and Conditions or otherwise, towards the dues payable by the Borrower to the Bank under this Terms and Conditions and/or other agreements entered into between the Borrower and the Bank and in any manner whatsoever.
12. Credit for all payments will be given only on realization or on the relative due date, whichever is later.
13. The Bank may at its own discretion and upon Borrower's request, also finance the Borrower for the insurance premium of insurance policy taken by Borrowers as per Borrower's own wish from any insurance company of Borrower's choice, which sum(s) shall be added to the principal amount under the Loan and all the terms and conditions shall be additionally applicable thereto. All expenses, charges, fees, taxes etc., as applicable on any such insurance shall be incurred and paid by the Borrower, however, in case paid by the Bank on Borrowers behalf, the Borrower shall reimburse the same to the Bank within 24 hours of the Bank's demand. The Borrower shall instruct the insurance company to add the Bank as loss payee in any such insurance policy.
14. The Borrower unconditionally consent and authorizes the Bank to raise debits for such amounts as may be calculated by the Bank from time to time and undertake to maintain sufficient balances to cover the Loan Repayment Dues (and charges, if any) on the stipulated due dates. Borrower is aware that failure to repay loan amount through these instruction shall be treated as a default in repayment of dues and all charges /penalties /levies as covered by the agreement will hold good towards the non-payment of obligations The Borrower further undertakes that in the event of the above account getting closed / transferred for any reason, the Borrower shall intimate to the Bank the new account opened with the bank to debit the Loan Repayment amounts as per the agreement. Borrower also undertakes the responsibility to provide the fresh set of Mandate and PDC's for such new account, as per terms of the agreement in lieu of existing instructions.
15. Advance amount/EMI received (if any) from the Borrower may be accounted towards your EMI dues, if any, for the upcoming months. Such advance Amount/EMI will not be treated as a part payment or a foreclosure payment made against your loan(s). Irrespective of the loan variant availed or the amount paid by Borrower, no interest will be payable by the Bank on such payment received from Borrower and no interest benefit by treating such payment as a part payment will be given by the Bank in your loan(s).

1. The Borrower hereby represents, warrants, assures and confirms as applicable to it, that:
   1. By clicking on the tab/ button/ checkbox of "Confirm" or any other button/ checkbox of similar nature: (i) Borrower confirm that Borrower is eligible under Applicable Law to avail the Facility, (ii) Borrower consent to avail and use the Facility as per the terms and conditions of these Facility Terms and Conditions; and (iii) Borrower consent to receive communications, notices regarding transactional & promotional communication from Bank , service providers, authorized third parties etc. (whether through SMS, WhatsApp, emails, phone calls, automated phone calls or by any other means). Electronic communications shall be deemed to have been received by Borrower when we send the electronic communication to the email address / mobile number / details provided by Borrower or any other third party. Borrowers agree that Borrower will not hold Bank, nor will any such communication amount to spam, unsolicited communication or a violation of Borrower registration on the national do not call registry. The Borrower(s) have agreed to this Facility Terms and condition by click wrap method or by physically consenting as the case may be and the same is construed as express consent under the existing laws of India. The Facility terms and conditions set out herein shall be applicable to the Facility/Loan provided/ to be provided by the Bank to the Borrower(s).
   2. Authorize the Bank to make any enquiries regarding my application and make any queries/verification with any other finance company/bank/credit bureau agencies/ account aggregator/statutory bodies etc. as may be required or as they may deem fit and shall not hold the Bank (or any of its group companies or its/their agents/representatives) liable for use/sharing of this information. Except to the extent disclosed to the Bank, no director or a relative/near relation (as specified by RBI) of a director of a banking company (including the Bank) or a relative/near relation (as specified by RBI) of a senior officer of the Bank (as specified by RBI) is the applicant(s), or a partner of our concern, or of our subsidiary, or our holding company, or a guarantor on my/our behalf, or holds substantial interest in our concern or my/our subsidiary or holding company.
   3. Hereby consent to receiving information from Central KYC Registry CERSAI through SMS/Email on my registered number/email address. I hereby provide the consent to bank to pull my KYC details from CERSAI & PAN details from NSDL as and when required by the Bank for the compliance. I hereby agree to abide by and be bound by all applicable rules/regulations/instruction/guidelines including but not limited to those issued by the Reserve Bank of India, including the Foreign Exchange Management Act, 1999 and Foreign Account Tax Compliance Act, 2010 (to the extent applicable to India) and the Common Reporting Standards (CRS), in force from time to time. I confirm having declared my status as per the rules applicable under section 285BA of the Income Tax Act, 1961 (the Act) as notified by Central Board of Direct Taxes (CBDT) in this regard.
   4. The Borrower hereby override my/our NDNC registration and give consent to the Bank or its Authorized Agents and third party service providers to use information/data provided by the Borrower to contact him through any channel of communication including but not limited to email, telephone, SMS, etc. and further authorize the disclosure of the information contained herein to its affiliates or their Authorized Agents or Third Party Service Providers in order to provide information and updates to the Borrower on various financial and investment products and offering.
   5. Has given complete and correct information and details in the application form about himself/herself.
   6. The Borrower hereby undertakes to keep the Bank informed of any change in the Borrower's e-mail ID, Telephone number, Mobile number and Address. The Borrower authorizes the Bank to update the contact information change that the Bank may be informed of and hereby authorizes the Bank to contact the Borrower at the updated contact details, by post, phone, e-mail, SMS/text messaging.
   7. The Borrower hereby undertakes to keep the Bank informed of any change in the Borrower's e-mail ID, Telephone number, Mobile number and Address. The Borrower authorizes the Bank to update the contact information change that the Bank may be informed of and hereby authorizes the Bank to contact the Borrower at the updated contact details, by post, phone, e-mail, SMS/text messaging.
   8. The Borrower hereby represent, warrant and confirm that the purpose of this Facility is personal consumption and also agree and undertake to utilize the Facility only for the above-mentioned purpose and that the Facility shall not be used for any of the following purposes:
      • Illegal & antisocial activity;
      • Purchase of gold in any form including primary gold, gold bullion, gold jewellery, gold coins, units of Gold Exchange Traded Funds (ETF) and units of gold Mutual Funds except for working capital requirement and nor to the silver bullion dealers which are likely to be utilized for speculative purposes.
      • Speculative investment in real estate;
      • Investment in securities, debentures or the stock markets;
      • Money lending activities;
      • Speculative activity not mentioned above; or
      • Any other activities for which the Facility is not extended.
   9. the Borrower understands and confirms that if Aadhar OTP based EKYC/non-face to face KYC method has been used to create an account up to Rs 60000 with validity of 12 months (or as per the prevailing RBI compliance around the same) here then the borrower has not & will not use Aadhar OTP based EKYC/non-face to face KYC method to open any other account with any third party Regulated Entity (RE) as defined by RBI until and unless the KYC is upgraded.
   10. the Borrower has the power and authority to execute, deliver and perform this terms & conditions and the same does not conflict with any Law, constitutional document, any other documents to which the Borrower is a party.
   11. The Borrower confirms that his/her Nationality is Indian.
   12. all accounts and financial statements furnished by the Borrower to the Bank have been prepared in accordance with accounting standards and practices in force in India and present true and fair financial position of the Borrower.
   13. no event or circumstance is outstanding which constitutes a default under any other agreement or instrument which is binding on the Borrower or its Affiliates or to which its assets are subject, which might have a material adverse effect.
   14. All statutory dues and taxes have been paid (save and except as disclosed in writing to the Bank).
   15. the information furnished by the Borrower to PARTNER or the Bank in connection with or for obtaining the Loan Amount/Facilities is true, complete and correct and not misleading in any material respect.
   16. neither the Borrower, nor any person acting on its behalf, has been engaged in (i) corrupt practices, fraudulent practices, collusive practices or coercive practices in connection with the Borrowers business and operations, (ii) money laundering or acted in breach of any Laws relating to money laundering; or (iii) the financing of terrorism.
   17. the Borrower has not committed any breach under any agreement entered into with any person for availing any finance facility and neither the Borrower are facing any litigation initiated by another financier including banks.
   18. the Borrower agrees that the customer grievances around account updation, refunds and loan closures will be responded by a designated authority of the bank within defined timelines as per bank's policies.
   19. the Borrower agrees that the loan will be reported in Bureau as a Personal Loan & note that it generally takes upto 45-60 days for payment/closure/regularisation etc. of the facility, to reflect in the bureau.
   20. the Borrower hereby agree to abide and be bound by all applicable rules/regulations/instruction/guidelines including but not limited to those issued by the Reserve Bank of India including the FEMA Regulations 2000 governing EEFC Accounts, the Foreign Exchange Management Act, 1999 and Foreign Account Tax Compliance Act, 2010 (to the extent applicable to India) and the Common Reporting Standards (CRS), in force time to time. The Borrower confirms having declared our status as per the rules applicable under section 285BA of the Income Tax Act, 1961 (the Act) as notified by Central Board of Direct Taxes (CBDT) in this regard. The Borrower confirms that except to the extent disclosed to the Bank, no director or a relative (as specified by RBI) of a director of a banking company (as specified by RBI) or a relative of a senior officer of the Bank (as specified by RBI) is - the applicant(s), or a partner, managing agent, manager, employee, director of our concern, or of our subsidiary or our holding company, or a guarantor on my/our behalf, or holds substantial interest in our concern or my/our subsidiary or holding company. If the Borrower provides deemed address proof, then within 3 months from date of disbursal, the Borrower will share the updated Officially Valid Document with the current address.
   21. except to the extent disclosed to the Bank: (i) all the Borrower's contracts or agreements with, or any commitments to, any affiliates or group companies (if applicable) are on arms' length basis; (ii) he/she is not a director or specified near relation of a director of a banking company; (iii) he/she is not a specified near relation to any senior officer of the Bank.
   22. that neither the Borrower nor any other person benefiting in any capacity in connection with or from this Agreement and/or any instruments and/or payments thereunder is a Specially Designated National (SDN) and/or otherwise sanctioned, under the sanctions promulgated/issued by India and/or any other country from time to time (collectively, the "Sanctions"). This representation will continue to remain valid till the repayment of all amounts under this Agreement and conclusion of the underlying transaction pursuant to the Agreement.
   23. Except to the extent disclosed to the Bank : (i) all the Borrower’s contracts or agreements with, or any commitments to, any affiliates or group companies (if applicable) are on arms’ length basis; (ii) (a) where the Borrower is an individual, he/ she is not a director or specified near relation of a director of a banking company; (b) where the Borrower is a partnership firm/HUF/limited liability partnership firm, none of the partners or members of the HUF is a director or specified near relation of a director of a banking company; and (c) where the Borrower is a joint stock company, none of its directors, is a director or specified near relation of a director of a banking company; (iii)(a) where the Borrower is an individual, that he/ she is not a specified near relation to any senior officer of the Bank, (b) where the Borrower is a partnership firm/HUF/ limited liability partnership firm, none of the partners or members of the HUF, is a specified near relation of any senior officer of the Bank, and (c) where the Borrower is a joint stock company, none of its directors, is a specified near relation of any senior officer of the Bank (d) where the Borrower is a Trust or Society, none of the trustees of the Trust or the members of the Society, is a specified near relation of any senior officer of the Bank.
   24. There is no impediment or restriction, whether under law, judgment, order, award, contract or otherwise, for any of the Borrowers entering into and/or performing any of the transactions contemplated by this/other documents/in respect of the Loan and all approvals and consents, wherever necessary have been duly obtained and are and will continue to be in full force; (c) The execution hereof constitutes legal, valid and binding obligations of the Borrower. (d) That there is no Event of Default existing; (e) All declarations made by Borrower are true and complete and no material information has been suppressed /withheld. (e) The Borrower(s) agree that if there are two or more Borrower(s), the Borrower(s) liabilities under this Loan terms and conditions shall be joint and several.
   25. The Borrower hereby undertakes that the Borrower shall not close the account on which the PDC/SI/ECS is issued and also shall not change the authorized signatory/ies to the said account (where the Borrower is a company/ partnership firm) without the prior consent of the Bank. Further, the Borrower hereby undertakes and confirms that PDC/SI/ECS/NACH mandate issued under these Terms and Conditions shall continue and remain in force till such time all other Dues under these Terms and Conditions and in respect of all other loan/ facility obtained/to be obtained by the Borrower from the Bank, and/or its affiliates are fully discharged and the Bank/ group companies are fully discharged and the Bank and/or its affiliates issue a certificate of discharge. The PDC/SI/ECS/NACH mandate issued under these Terms and Conditions and the liability of the Borrower shall not be affected impaired or discharged. The Borrower covenants that the PDC/SI/ECS/NACH provided by the Borrower shall remain valid for the balance due to the Bank, or any other financial benefits obtained by the Borrower from any of the affiliates of the Bank.
   26. I hereby provide the consent to bank to pull my KYC details from CERSAI & PAN details from NSDL as and when required by the Bank for the compliance.
   27. Borrower agrees that if he/ she avails any loan from the Bank then the PDC/SI/ ECS/NACH mandates issued under the said loan shall continue and remain in force till such time all other dues under the Loan Agreement and in respect of all other loan/facility obtained/to be obtained by the Borrower from the Bank/group companies are fully discharged and the Bank and/or its affiliates issue a certificate of discharge. The PDC/SI/ECS/NACH mandate issued under any Loan Agreement and the liability of the Borrower shall not be affected impaired or discharged. The Borrower covenants that the PDC/SI/ECS/NACH provided by the Borrower shall remain valid for the balance due to the Bank, or any other financial benefits obtained by the Borrower from any of the affiliates of the Bank.
   28. I/We undertake and declare that if there are any changes in the particulars and information given by me/us while availing the Loan facility, I/We shall within 30 days from the date of any such change in the particulars and information shall disclose the details of such changes to the Bank without withholding the same.
   29. There is no litigation, pending or threatened against the Borrower or their notices issued on the Borrower under the applicable laws including but not limited to under Section 281 of the Income Tax Act, 1961.
   30. The PDC/SI/NACH will at all times remain valid and subsisting and will be honored throughout the term of any of the credit facilities sanctioned by the Bank to the Borrower.
   31. Recovery Agent - Borrower hereby authorizes the Bank to appoint Recovery Agents and thereby consents and agrees that the Bank shall be entitled to disclose to such recovery agents/third parties all necessary and relevant information pertaining to the Borrower(s)and the loan and the borrowers hereby consent to such disclosure by the Bank. Notwithstanding anything contained in this Agreement, the Borrower(s) expressly accepts and authorizes the Bank (and/ or any such recovery agents/third party as the Bank may select) to contact Borrower (including any person related to the Borrower(s) and disclose all necessary and relevant information pertaining to the Borrower(s).
   32. Borrower understands and acknowledges that there are inherent risks involved in sending and receiving instructions/communications/documents via electronic mode viz., emails/ SMS/WhatsApp messaging services etc., and Borrower hereby agree and confirm that all risks shall be fully borne by him and he assumes full responsibility for the same. The Borrower will not hold the Bank liable for any losses or damages including legal fees arising owing to any miscommunication or technological error beyond the control of the Bank.
   33. The Bank shall not be liable or responsible for any breach of secrecy owing to communication/documents being sent digitally. The Borrower shall verify the authenticity of the emails, instant messaging app etc., and shall not hold the Bank responsible for any statements received from frauds / imposters. The Borrower shall not hold the Bank liable if any problem arises with his/their computer/mobile network. The Borrower understand and agree that the email statements, SMS, documents, communications will only be sent to the first holder of either registered email id/registered Cell No/registered WhatsApp number. The Borrower shall inform the Bank in writing if there is any change in his/their communication address. The Bank shall not be responsible incase if the Borrower's do not receive the statements due to incorrect communication address provided by the Borrower or due to technical reasons. The Borrower undertakes to take all necessary steps to ensure confidentiality and secrecy of the login name and password of the internet / email account.
   34. The Borrower shall be responsible to ensure the authenticity, validity, or source of any instructions/documents and shall be liable if any instructions/documents turned out to be unauthorized, erroneous, or fraudulent nor will any such communication amount to spam, unsolicited communication or a violation of borrower(s) registration on the national do not call registry.
2. All representations and warranties of the Borrower contained herein shall survive the execution, delivery and/or termination of this Agreement and until the Facilities has been repaid in full.
3. The Borrower will be deemed to have renewed each of these representations and warranties every time it avails the Facilities under this Agreement.

1. The Bank shall not be obliged to disburse the Loan Amount unless and until, the Borrower shall have complied with the disbursement conditions and/or such other conditions as may be stipulated by the Bank from time to time. Further, the Borrower undertakes that the Loan Amount availed from the Bank through the PARTNER App will not be used for any unlawful, illegal and anti-social activity or any other activity for which this facility is not extended.

1. Positive Covenants
   1. Notify Bank of the occurrence of any event or the existence of any circumstances which constitutes or results in any declarations, representations, warranty, covenants or condition under this Agreement and/or the other agreement being or becoming untrue or incorrect in any respect.
   2. Inform Bank of any litigation, arbitration or other proceedings, which have a Material Adverse Effect, within a period of two Business Days upon the same being instituted or threatened by any person whatsoever.
   3. Inform Bank about any proposed action by the Borrower or action taken by any other person under any insolvency/bankruptcy laws against the Borrower.
   4. If required by Bank at any time, deliver to the Bank: (a) copies of all documents issued by the Borrower to all its creditors (or any general class of them) at the same time as they are issued; (b) such information and records (financial or otherwise) about the Borrower’s business, as may be required by the Bank from time to time in relation to the Facilities within the period specified by the Bank (c) a certificate from the statutory auditor of the Borrower or independent chartered accountant that the proceeds of the Facility(ies) has been utilized for the Purpose as and when demanded by the Bank; (d) stock and book debt statement at such intervals as may be required by the Bank, from time to time
   5. If required by Bank at any time, deliver to PARTNER and the Bank in form and detail satisfactory to the Bank and in such number of copies as the Bank may request:
      1. unaudited semi-annual profit and loss statements and balance sheets, within sixty days, or such other period as reasonably required by the Bank, of the close of each semi-annual period;
      2. independently audited annual accounts within six months, or such other period as reasonably required by the Bank, of the close of each financial year; and
      3. such other statement or statements or information pertaining to the operations of the Borrower as the Bank may reasonably require, within such period as required by the Bank.
   6. Perform, on request of the Bank and at the expense of the Borrower, such acts as may be necessary to carry out the intent of this Agreement including but not limited to executing and delivering such further agreements, undertaking, declarations, assurances and writings.
   7. Promptly inform the Bank of any distress or other process of court being taken against any of the Borrowers premises and/or property and/or assets.
   8. Notify the Bank of any material loss or damage which the Borrower may suffer due to any event, circumstance or act of God. Further, the Borrower agrees to intimate the Bank from time to time, details of insurance claims lodged/ filed and received by the Borrower.
   9. File all relevant tax returns and pay all its taxes/duties promptly when due.
   10. Comply with such other conditions as may be stipulated by the Bank from time to time on account of requirement of any Law.
   11. If required by Bank at any time, submit to the Bank the information etc. as envisaged under RBI circular No. DBOD.No.BP.BC.94 /08.12.001/2008-09 dated 8th December 2008, as amended/replaced from time to time.
   12. Ensure all its assets that are material to the conduct of its business are in good operating condition, subject to ordinary wear and tear.
   13. Ensure that the transactions entered into pursuant to the Agreement do not violate any Sanctions, directly or through persons or entities subject to any Sanctions, which may pertain inter alia, to the purpose and/or end use of the Facility, goods manufactured in or originated from/through certain countries, shipment from/to/using certain countries, ports, vessels, liners and/or due to involvement of certain persons and entities. its assets that are material to the conduct of its business are in good operating condition, subject to ordinary wear and tear.
2. Negative Covenants
   The Borrower covenants and undertakes that, so long as the Facilities or any part thereof are outstanding, and until full and final payment of all moneys owing hereunder, the Borrower shall not, without the prior written consent of the Bank:
   1. Contract, create, incur, assume or suffer to exist any indebtedness, except as otherwise permitted under this Agreement or prepay any indebtedness;
   2. Make any investments whether by way of deposits, loans, or investments in share capital or otherwise, in any concern. This provision shall not apply to loans and advances granted in the ordinary course of business; and
   3. The Borrower shall not file any application for seeking immunity under any Law without obtaining prior written consent of the Bank;
   4. permit of effect any direct or indirect change in the legal of beneficial ownership or control;
   5. Change /cease/retire from/terminate/resign from the present employment/profession /business disclosed in the Applications; or change, terminate or open any bank account.

1. The occurrence of any one or more of the following events shall constitute an "Event of Default" under this Agreement:
   1. The Borrower fails to pay/repay any monies in respect of the Facilities on the due dates, whether at stated maturity, by acceleration or otherwise;
   2. Breach of any statement, representation, warranty or confirmation or covenant made herein or Borrowers proposal / application or in this Agreement or otherwise on the part of the Borrower/third party;
   3. Any other event/material change which prejudicially alters the Banks interest or may have Material Adverse Effect including but not limited to nationalization/expropriation and/or compulsory acquisition of the Borrower and/or its assets by the authority of government;
   4. The Borrower is in breach/default of any agreement with any person who has provided loans, deposits, advances, guarantees or other financial facilities to the Borrower;
   5. Any steps taken by the Borrower under the insolvency or bankruptcy Law.
   6. Filing of petitions as against the Borrower under any bankruptcy or insolvency law or if the Borrower has taken or suffered to be taken any action for its reorganization or if a receiver has been appointed over all or any part of the assets of the Borrower.
   7. If any attachment or distress or restraint has been levied on the Borrower's assets or any order/certificate has been passed for recovery of dues and such order or judgment is not vacated, discharged or stayed for a period of 30 days, and such judgments or orders involve in the aggregate a liability which could have a Material Adverse Effect;
   8. Any legal, quasi-legal, administrative, arbitration, mediation, conciliation or other proceedings, claims, actions or governmental investigations of any nature pending against the Borrower in management of the Borrower or any of its assets which individually or in the aggregate would, if adversely determined, have a Material Adverse Effect.
   9. The Borrower is unable or has admitted in writing its inability to pay any of its indebtedness as they mature or when due;
   10. Any consent, authorization, approval or the like, or license of or registration with or declaration to government or statutory or regulatory authority made by the Borrower for entering into this Agreement and/or other Agreement is revoked or terminated and is not in full force and effect;
   11. The death, lunacy or other disability of the Borrower;
   12. any misrepresentations or misstatement by the Borrower; or (c) occurrence of any circumstance or event which adversely affects Borrower's ability/capacity to pay/repay the Outstanding Balances or any part thereof or perform any of the obligations;
   13. if any attachment, distress, execution or other process against the Borrowers/its assets or any of the security is threatened, enforced or levied upon by any person;
   14. fall, reduction or decrease, in the opinion of the Bank, in values of any security lower than the values required by the Bank;
   15. the event of death, insolvency, failure in business, commission of an act of bankruptcy of the Borrower, or change or termination of employment/profession/business for any reason whatsoever.
   16. if the loan amount is used for investment made in shares, debentures, advances and inter-corporate loans/deposits to other companies (including subsidiary companies).
   17. The Borrower shall ensure that neither the Borrower nor any director/partner/member of the Borrower has been declared a willful defaulter; in case any director/partner/member has been declared as a willful defaulter, the Borrower shall take expeditious steps for removal of such person.
2. Upon occurrence of an Event of Default, the Bank shall be entitled, by a notice, to:
   1. declare the Facilities, together with accrued interest and other monies, to be immediately due and payable and upon such declaration, the same shall become immediately payable by the Borrower;
   2. declare that all undisbursed portion of the Facilities shall stand cancelled, whereupon the same shall be cancelled; and
   3. exercise any or all rights and recourses available under this Agreement and/or under applicable Law/
   4. impose Penal charges at the rate mentioned in the Schedule hereto/Application or as may be prescribed by the Bank., over and above the then applicable rate of interest till full payment is made/default is cured. This liability shall not act as justification for any default.
3. Notwithstanding anything to the contrary in this document or any other document or any other document/arrangement : (i) in respect of all and any of Borrower's present and future liabilities to the Bank, its affiliates, group entities, associate entities, parent, subsidiaries, any of their branched (collectively “Relevant Entities”), whether under this document or under any other obligation/loan facilities/borrowing/document, whether such liabilities are/be crystallized, actual or contingent, primary of collateral or several or jointly with others, whether in same currency or different currencies, whether as principle debtor and/or as guarantor and/or otherwise howsoever (collectively “Liabilities”), each of the Bank and the Relevant Entities shall in addition to any general lien or similar right to which any of them as bankers may be entitled by law, practice, custom or otherwise, have a specific and special lien on all the Borrower's present and future stocks, shares, securities, property, book debts, all moneys in all accounts whether current, savings overdraft, fixed or other deposits, held with or in custody, legal or constructive, with the Bank and/or any Relevant Entities, now or in future, whether in same or different capacity of the Borrower, and whether severally or jointly with others, whether for any banking relationship, safe custody, collections, or otherwise whether in same currency or different currencies; and (ii) separately, each of the Bank and the Relevant Entities shall have the specific and express right to, without notice to and without consent of the Borrower, set – off, transfer, sell realize, adjust appropriate all such amounts in all accounts (whether prematurely or upon maturity as per the Bank's discretion), securities, amounts and property as aforesaid for the purpose or realizing or against any of dues in respect of any of the Liabilities whether ear- marked for any particular Liability or not, combine or consolidate all or any of accounts of the Borrower and set- off any monies, whether of same type or nature or not and whether held in same capacity or not including upon happening of any of the events of default mentioned in any of the documents pertaining to the respective Liabilities or upon any default in payment of any part of any the Liabilities. (iii) the Bank and the Relevant Entities shall be deemed to have and hold and continue to have first charge on any assets including on any assets including any deposit on which security has been/will be created in respect of the Loan, as security also for any of the other Liabilities and all the rights and powers vested in the Bank in terms of any security or charge created for the Loan shall be available to the Bank and/or the Relevant Entities also in respect of such other Liabilities, irrespective of the fact whether the Loan is at any time outstanding, repaid or satisfies or not and even after the Loan has been repaid or prepaid. Bank shall be at the liberty to deny issuance of No Dues Certificate in event of cross default.

1. The Borrower is aware that, Red Flagged Account is one where suspicion of fraudulent activity is thrown up by the presence of one or more Early Warning Signals (EWS) indicators (as defined in relevant RBI circulars from time to time), alerting / triggering deeper investigation from potential fraud angle and initiating preventive measures by the banks.
2. The Borrower understands and agrees that, in case the loan account is classified as red-flagged account, the Bank shall conduct an audit as per its Policy, for further investigation in the account.
3. The Borrower shall co-operate with the said audit and shall provide required information, documents, etc. to the Bank or any person appointed by Bank for conducting the audit for further investigation in the account as per its Policy.
4. In case, the Borrower does not co-operate for conducting such audit, the Bank shall conclude the account as fraud, without giving further notice.

1. The Borrower agrees that in addition to any other rights enjoyed by the Bank, in the event of the Borrower committing any default, the Bank shall be entitled to disclose to the RBI or any other statutory or regulatory authority or to any other third person, the name/identity of the Borrower and/or its directors/partners/ trustees and the default committed.
2. The Borrower is aware that, in case any of his director/partner/member/trustee/ person being in charge of the management has been declared a wilful defaulter; then the Bank shall not renew/ enhance/ provide fresh credit facilities or restructure existing facilities.
3. The Borrower further agrees that the Bank may, as it deems appropriate and necessary disclose and furnish to TransUnion CIBIL Limited (formerly known as Credit Information Bureau (India) Ltd ("CIBIL") and any other agency authorized in this behalf by RBI all or any of the following:
   1. information and data relating to the Borrower;
   2. the information or data relating to the Facilities availed of/to be availed, by the Borrower; and
   3. the information and details of the default, if any, committed by the Borrower, in discharge of the indebtedness.
4. The Borrower agrees and undertakes that:
   1. CIBIL, CRIF, Experian, Equifax and any other agency so authorized may use, process the said information and data disclosed by PARTNER and/or the Bank in the manner as deemed fit by them; and
   2. CIBIL and any other agency so authorized may furnish for consideration, the processed information and data or products thereof obtained by them, to banks/ financial institutions and other credit grantors or registered users, as may be specified by the RBI in this behalf.
5. Bank may at the risk and cost of the Borrower engage one or more person(s) to verify any facts or information furnished by, concerning or pertaining to the Borrower and/or in relation to this Agreement and/or to collect the indebtedness and may furnish to such person(s) documents, information, facts and figures as the Bank thinks fit and may delegate to such person(s) the right and authority to perform and execute all acts, deeds, matters and things connected therewith or incidental thereto as the Bank may think fit. The Bank shall be entitled to carry inspections at such intervals, as it may deem fit.
6. The Borrower hereby agrees and confirms that the Bank will have the right to disclose and share any personal information pertaining to the Borrower including, but not limited to, credit facility/ies, constitution, net worth, shareholding of the Borrower with (i) any other bank(s)/financial institution(s) in the form and manner prescribed by the RBI; (ii) any agent, contractor, third party service provider or professional adviser (wherever situated) of the Bank, for its business purpose, web analytics, data processing, advertising, e-mail distribution, payment processing, order fulfilment, and other services. ; (iii) any person to (or through) whom the Bank assigns or transfers or novates (or may potentially assign or transfer or novate) all or any of its rights or obligations under this Agreement or any other Agreement; (iv) any person to whom the Bank is required to make disclosure under the requirements of any law, regulation, guidelines (whether SEBI, RBI etc.) or practice.

1. The Borrower hereby agrees, aware and accepts that for the better and more effectual doing and performing of actions related to the Facility, the Bank has appointed PARTNER as its "Facility Agent" to do, execute and perform all or such acts or things as the Bank may assign, authorise or delegate it from time to time.
2. The Borrower accepts that the Bank shall without prejudice to its right to perform the activities itself or through its officers or employees or other authorised agents, be entitled, and have full power and authority, to appoint one or more third parties and delegate to such third party all or any of its functions, rights and powers under this Agreement relating to the administration of the Loan including the right to collect and receive on behalf of the Bank all the dues under this Agreement and give valid and effectual receipts and discharge to the Borrower and to perform and execute all lawful acts, deeds, matters and things connected herewith or incidental hereto. For the purpose aforesaid or any other purpose which the Bank at the sole discretion may deem fit, the Bank shall be entitled to disclose to such third parties all necessary and relevant information pertaining to the Borrower.

1. In no event shall IDFC FIRST Bank Limited be liable to the Borrower for any special, incidental, indirect, punitive or consequential damages whatsoever (including, without limitation, damages of loss of goods or services, or any other pecuniary loss) arising out of the use of, or inability to use or access the Partner Platform/ avail the facility/ defective product, including breach of contract or warranty, negligence or other tortious action, or any other claim arising out, the Borrower’s use of or access to the Product / Plan /Insurance Policy/Facility.
2. Further, IDFC Bank Limited shall have no liability to the Borrowers in respect of any loss or damage arising directly or indirectly out of:
   • any defect in any Product/Policy supplied;
   • delay in delivery or non-receipt of Product/Policy purchased;
   • acts done by IDFC FIRST Bank Limited on the instruction of any person impersonating himself/herself as a Borrower;
   • the exercise by IDFC FIRST Bank Limited of its right to terminate the Facility; or
   • any injury to the credit character and reputation of the Borrower alleged to have been caused by the termination of the Facility and/or the refusal of Partner to deliver the Product/Policy.
3. IDFC FIRST Bank Limited holds out no warranty or makes no representation about quality, delivery or otherwise of the Product/Policy.
4. IDFC is not liable in any Dispute or claim arising in relation to the product purchased by Borrower from the Partner. Notwithstanding anything to the contrary contained herein or under any other transaction documents, the provisions of this clause (Exclusion of Liability) shall survive the termination of the Agreement.

1. Notwithstanding anything contained in the loan transaction documents, IDFC FIRST Bank hereby confirms that IDFC shall not levy any penal interest. Bank shall levy only Penal charges as mentioned in Schedule of charges/KFS.
2. All notices, requests, demands, waivers or other communications under or in connection with this Agreement shall be given in writing. Any such notice or other communication will be deemed to have been duly given and being received if: (a) if by personal delivery on the day after such delivery, (b) if by registered mail, on the third Business Day after the mailing thereof, (c) if by next-day or overnight mail/courier or delivery, on the day delivered, (d) if sent by email/facsimile, when sent (on receipt of a confirmation to the correct facsimile number). Provided, however, that no notice or communication to the Bank shall be effective unless actually received by the Bank. Notices or communication may be made to: (i) the Borrowers address or facsimile number or e-mail id, and (ii) the Banks address or facsimile number specified below , or to such other address or facsimile number as may be designated by the Borrower and the Bank in writing to each other.
3. All notices, requests, demands, waivers, or other communications (including customer Copy of Loan Agreement, Key Fact Statement, Welcome Letter etc., under or in connection with this Agreement shall be given in writing by mail, e-mail, or fax as mentioned under the Schedule. Any such notice or other communication will be deemed to have been duly given it: (a) delivered personally; (b) sent by registered mail with postage prepaid; (c) sent by next-day or overnight mail/courier or delivery; or (d) sent by email/facsimile. Borrower confirms that all risks shall be fully borne by him, and he assumes full responsibility for the same. Borrower agrees to immediately intimate the Bank of any change in the postal address, email ID and acknowledges that the Bank shall not be liable for any loss or damage that may be caused to the Borrower owing to change in address.
4. The entries made in the accounts / account books / records of the Bank maintained in accordance with its usual practice and in compliance with the statutory requirements and/or a statement signed by a designated officer of the Bank, shall be final and binding on the Borrower. Such entries and/or statement shall be prima-facie and conclusive evidence of the existence and amount of obligations of the Borrower as therein recorded in respect of the Facilities.
5. Subject to the provisions of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, the Courts/Tribunals in the city where the branch of the Bank is situated shall have exclusive jurisdiction in relation to this Agreement and all matters arising in connection herewith. Provided that nothing contained in this Section, shall limit the right of the Bank to take proceedings in any other Court or Tribunal of competent jurisdiction, nor shall the taking of proceedings in one or more jurisdictions preclude the taking of proceedings in any other jurisdiction, whether concurrently or not and the Borrower irrevocably submits to and accepts for themselves and in respect of their property, generally and unconditionally, the jurisdiction of such court or tribunal, and the Borrower irrevocably waives any objection it may have now or in the future to the laying of the venue of any proceedings and any claim that any such proceedings have been brought in an inconvenient forum irrevocably waives any objection it may have now or in the future to the laying of the venue of any proceedings and any claim that any such proceedings have been brought in an inconvenient forum
6. The Borrower shall not assign or transfer or novate all or any of its rights, benefits or obligations under this Agreement and the other Agreement without the approval of the Bank. The Bank may, at any time, sell, assign or transfer or novate or allow risk participation all or any of its rights, benefits and obligations under this Agreement and the other Agreement to any person(s) of the Banks choice in whole or in part and in such manner and on such terms as the Bank may decide without any reference to the Borrower. In case the Bank assigns a part of the disbursed Facility to any person without the consent of the Borrower, such disbursed portion which has been assigned would constitute a separate and distinct loan and the Borrower shall not raise any objection or defense under Law, including any objection in terms of Order 2 Rule 2 of Code of Civil Procedure, 1908 or otherwise. The Borrower shall, unless otherwise notified by the Bank, continue to make all payments under this Agreement to the Bank and all such payments when made to the Bank shall constitute a full discharge to the Borrower from all its liabilities in respect of such payments.
7. Any provision of this Agreement, which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of prohibition or unenforceability but that shall not invalidate the remaining provisions of this Agreement or affect such provision in any other jurisdiction.
8. The Borrower hereby agrees and confirms that in case any other person providing any financial assistance to the Borrower imposes any conditions not included herein, or in case any of the terms offered by the Borrower to such person is more favorable to such person than the terms stipulated by, or offered to, the Bank, the Borrower shall promptly inform the Bank of such terms or conditions and such of those terms and conditions as may be considered necessary by the Bank, in its discretion, shall apply to the Facilities as if the Borrower had specifically agreed to such terms and conditions, which terms and conditions shall be deemed to have been expressly incorporated herein.
9. The Bank shall at any time, without any consent of or notice to the Borrower (s) be entitled to securitize, sell assign, discount or transfer all or any part of the Bank's rights and obligations under the Loan, this document or any other document, to any person (s) and in such manner and on such terms as the Bank may decide. Borrower shall not be entitled to directly or indirectly assign or in any manner transfer, whether in whole or part, any rights, the benefit or obligation under the Loan, this / other document.
10. The Bank shall have the right to not return the Application, the photographs, information and documents submitted by the Borrower. the Bank shall, without notice to or without any consent of the Borrower, be absolutely entitled and have full right, power and authority to make disclosure of any information relating to Borrower including personal information, details in relation to documents, Loan, defaults, security, obligations of Borrower, to the Credit Information Bureau of India (CIBIL) and/or any other governmental / regulatory / statutory or private agency/entity, credit bureau, RBI, the Bank's other branches/subsidiaries/affiliates/rating agencies, service providers, other banks/financial institutions, and third parties, any assigns/potential assignees or transferees, who may need the information and may process the information, publish in such manner and through such may be deemed necessary by the publisher/the Bank/RBI, including publishing the name as part of willful defaulter's list from time to time, as also use for KYC information verification, credit risk analysis, or for other related purposes. In this connection, the Borrower waives the privilege of privacy and privity of contract. the Bank shall have the right, without notice to or without any consent of the Borrower, to approach, make enquires, obtain information, from any person including other banks/finance entities/credit bureaus, Borrower's employer/family members, any other person related to the Borrower, to obtain any information for assessing track record, credit risk, or for establishing contact with the Borrower or for the purpose of recovery of dues from the Borrower.
11. The Borrower is aware that this document is an electronic record in terms of Information Technology Act, 2000 and rules there under as applicable to electronic records in various statutes as amended by the Information Technology Act, 2000. This electronic record is generated by a computer system and does not require any physical signatures.
12. The Borrower is aware that by clicking on the tab/ button/ checkbox of "I Accept" or any other button/ checkbox of similar nature: (i) Borrower confirm that borrower(s) are eligible under applicable law to avail the Facility, (ii) Borrower consent to avail and use the Facility as per the terms and conditions of this Agreement; and (iii) Borrower consent to receive communications, notices and information from the Bank and our business partners, service providers, authorized third parties etc.(whether through SMS, emails, phone calls, automated phone calls or by any other means).
13. Electronic communications shall be deemed to have been received by the Borrower when we send the electronic communication to the email address / mobile number / details provided by Borrower or any other third party. Borrower undertakes that he/she will not hold Bank or Banks business partners/ service providers/ authorized third parties responsible for any such communications received from the Bank/ its business partners/ service providers/ authorized third parties, nor will any such communication amount to spam, unsolicited communication or a violation of Borrower(s) registration on the national do not call registry.
14. The Borrower understand, acknowledge and agrees that the Facilities are uncommitted facilities, are recallable by IDFC Bank on demand and may be cancelled and repudiated in part or in entirely by IDFC Bank at any time without notice and without giving any reason. Sanction or part disbursal of the facility should not be construed as giving rise to binding obligation on the part of IDFC FIRST Bank to provide the facility mentioned aforesaid. The Facility mentioned aforesaid will be available solely at IDFC FIRST Bank's discretion and IDFC FIRST Bank will not be liable for any action taken by the borrower on the basis of this sanctioned facility.
15. Borrower understands and acknowledges that there are inherent risks involved in sending and receiving instructions/communications/documents via electronic mode viz., emails/ SMS/WhatsApp messaging services etc., and hereby agree and confirm that all risks shall be fully borne by him, and he assumes full responsibility for the same. He will not hold the lender liable for any losses or damages including legal fees arising owing to any miscommunication or technological error beyond the control of the lender.
16. Business Correspondent (BC) – In case the said loan is sourced through business correspondent, Bank shall be responsible to address the grievances of the Borrowers in relation to acts of commissions and omissions of the said business facilitator/ correspondent.
17. IDFC FIRST Bank shall not be liable or responsible for any breach of secrecy owing to communication/documents being sent digitally. Borrower shall verify the authenticity of the emails, instant messaging app etc., and shall not hold the Bank responsible for any statements received from frauds / imposters. Borrower shall not hold the Bank liable if any problem arises with his/their computer/mobile network. Borrower understand and agree that the email statements, SMS, documents, communications will only be sent to the first holder of either registered email id/registered Cell No/registered WhatsApp number. Borrower shall inform the Bank in writing if there is any change in his/their communication address. The Bank shall not be responsible incase if the Borrower's do not receive the statements due to incorrect communication address provided by Borrower or due to technical reasons. Borrower undertakes to take all necessary steps to ensure confidentiality and secrecy of the login name and password of the internet / email account.
18. The Bank shall have a right to sell or transfer (by way of assignment, securitisation or otherwise) whole or part of the Loan and outstanding amounts under the Loan or any other rights under this Agreement or any other document pursuant hereto to any person in any manner or under such terms and conditions as the Bank may decide in its sole discretion. The Borrower shall not transfer or assign the rights under this Agreement without previous written consent of the Bank. The Borrower hereby accords its consent to the Bank for transfer of the Bank’s rights and obligations under this Agreement and other financing documents to any Person at the Bank’s sole discretion.
19. Borrower shall be responsible to ensure the authenticity, validity, or source of any instructions/documents and shall be liable if any instructions/documents turned out to be unauthorized, erroneous, or fraudulent nor will any such communication amount to spam, unsolicited communication or a violation of borrower(s) registration on the national do not call registry.
20. Force Majeure -The Borrower shall be liable to perform or fulfil its obligations at all point of time and shall not delay/postpone performance, its obligations in whole or in part, even on the ground of any force majeure event such as acts of God, floods, cyclones, pandemics earthquakes, fires, wars, riots, strikes, orders of governmental or other statutory authorities.
21. Grievance Redressal, Governing Law and Dispute Resolution
    1. In event of any grievances, the Borrower may approach the nodal officer of the Bank, contact details of the nodal officer have been provided in the Key Fact Statement (KFS).
    2. The Parties agree that this Agreement shall be governed by the laws of India.
    3. The Borrower hereby expressly agrees that all disputes arising out of and/or relating to this Agreement including any transaction document which is –
       1. below the pecuniary jurisdiction limit of the Debt Recovery Tribunals established under Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (51 of 1993), then such dispute shall be resolved through arbitration in accordance with the provisions of the Arbitration and Conciliation Act, 1996 as may be amended, or its re-enactment, through the online dispute resolution("ODR") platform. The party invoking arbitration (“Claimant”) shall address a notice to the other party (“Respondent”) suggesting the name of one of the following ODR platforms (Designated Institution) as stated below or any other ODR platform:
          • Presolv360 ODR Institution; or
          • Sama ODR Institution: or
       2. The arbitration proceeding shall be conducted in the English language. The seat of the arbitration for the purpose of determining jurisdiction shall be decided basis the zone from which case is sourced. The award passed by the arbitrator shall be final and binding on the Parties.
       3. The parties if agree to carry out the arbitration proceedings virtually through an ODR platform of such institution and, for such purpose, the email addresses and / or mobile numbers of the Borrower available, provided or otherwise referenced in the transaction documents shall be considered. Each party shall be responsible for intimating such institution in the event of any change in its email address and / or mobile number throughout the arbitration proceedings. In the event the arbitration proceedings cannot be administered virtually, then the proceedings shall be conducted physically, and the venue of the proceedings shall be as may be notified by the Bank.
       4. above the pecuniary jurisdiction limit under Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (51 of 1993) should be filed before appropriate Debt Recovery Tribunals.
       5. Without prejudice to the Banks rights and remedies under contract and in law, nothing contained herein shall limit the rights of the Lender to initiate any legal proceedings in any other court or tribunal of competent jurisdiction or other appropriate forum within India, nor shall the taking of legal proceedings in one or more jurisdiction preclude the Lender from taking proceedings in any other jurisdiction within India, whether concurrently or not.
22. The para banking services provided by the Bank to the Borrowers for financial products shall be strictly on a non-risk participation basis.
23. Borrower shall be liable to pay the Interest on outstanding loan balance for the duration it remains outstanding. Further, such Interest calculation shall commence from the actual date of disbursement of the said loan. In the event of disbursement through cheque, Interest shall be calculated from the date of handover of the cheque.
24. Notwithstanding anything to the contrary contained in this Agreement, Borrower is aware that insurance is non-mandatory and offered only to customer who voluntarily chooses to opt for the same and in case if the loan is cancelled, the insurance policy will also get cancelled automatically and the certificate of insurance (if received/issued) will remain cancelled/ revoked. Details of commission or fees of similar nature received by the Bank from insurance company for marketing insurance products is provided in the KFS.

1. I request IDFC FIRST Bank Limited ("the Bank") to provide us a loan for the Membership/Insurance charges of approved insurance service providers (hereinafter referred as "Service Providers"), and hereby authorize the Bank to deduct the said charges from the Loan amount and pay the amount to the Service Providers.
2. I further understand that the aforementioned services are been offered to me by the aforesaid Service Providers and the Bank shall not be responsible in any way with regard to the services provided or any other terms and conditions of the insurance policies/products/facilities availed by me from the said service providers.
3. I hereby undertake that the Bank or any of its directors/employee/agents/affiliates shall neither be held responsible for any damages or claims on account of aforementioned services or on account of simulated range of credit score not being the same or similar to the actual credit score nor shall hold the Bank or any of its directors/employee/agents/affiliates for any damages suffered by me on account of any financial decisions taken by me or anyone on my behalf on the basis of the interpretation, if any of the estimated credit score.
4. I, hereby declare that I have read all the Features, Benefits, Exclusions and Claim Process of the aforementioned products/ and have voluntarily opted for the same. I am aware that in Case of non-disclosure of material facts or fraud, there would be no refund of premium paid.
5. I agree to abide by the Terms & Conditions of the products/policies and provide my consent to share my personal details, as required for opting for aforementioned products / policies.
6. I hereby give consent to the Service Provider to pay the claim amount/service fees up to the outstanding loan amount to the financer.
7. I hereby declare that the above statements and particulars are true, accurate and complete and I declare and agree that this declaration and the answers given above shall be held to be promissory and shall be the basis of the contract between me/us and the Service Providers.
8. Insurance is non-mandatory and offered only to customers who voluntarily choose to opt for the same.
9. In case if the loan is cancelled, the insurance policy will also get cancelled automatically and the certificate of insurance (if received/ issued) will remain cancelled/revoked.
10. I acknowledge that in no event shall IDFC FIRST Bank Limited be liable to me for any special, incidental, indirect, punitive or consequential damages whatsoever (including, without limitation, damages of loss of goods or services, or any other pecuniary loss) arising out of availing any third party product, use of said third party product, or inability to use said product or inability to avail the policy/product/defective product, including breach of contract or warranty, negligence or other tortious action, or any other claim arising out, the Borrower’s use of or access to the Policy /Product.
11. Further, IDFC FIRST Bank Limited shall have no liability to the Borrowers in respect of any loss or damage arising directly or indirectly out of:
    • Any defect in any Product/Policy supplied.
    • Delay in delivery or non-receipt of Product/Policy purchased.
12. In no event shall IDFC FIRST Bank Limited be liable to the Customer/ Borrower for any special, incidental, indirect, punitive or consequential damages whatsoever (including, without limitation, damages of loss of goods or services, or any other pecuniary loss) arising out of the use of, or inability to use or access the Platform/ avail the facility/defective product, including breach of contract or warranty, negligence or other tortious action, or any other claim arising out of the Borrower’s use of or access to the Policy /Plan /Facility.
13. Further, under the Terms and Conditions, IDFC Bank Limited shall have no liability to the Borrowers in respect of any loss or damage arising directly or indirectly out of:
    • acts done by IDFC FIRST Bank Limited on the instruction of any person impersonating himself/herself as a Borrower;
    • the exercise by IDFC FIRST Bank Limited of its right to terminate the Facility; or
    • any injury to the credit character and reputation of the Borrower alleged to have been caused by the termination of the Facility.
14. The Borrower acknowledges that the Application Form and the Terms and Conditions give rise to a debtor-creditor relationship between the Borrower and IDFC FIRST Bank Limited, and there is no service that is being provided by IDFC FIRST Bank Limited to the Borrower. Further the parties understands that the provisions of the Consumer Protection Act, 1986 shall not apply to the Application Form read with the Terms and Conditions.

1. I declare that all the particulars and information given in the Application Form are true, correct, complete and up to date in all respects and have not withheld any information whatsoever.
2. I hereby authorize the Bank, without any notice to me to conduct credit checks, references, make enquiries, in its sole discretion and also authorize the Bank and its agents to share and obtain information, records from any agencies, statutory bodies, credit bureau, bank, financial institutions, or any third party in respect of the application, as it may consider necessary the Bank shall not be liable for use/ sharing of the information.
3. I authorize the Bank and/ or its representatives, agents to communicate/ call/ SMS to me with respect to this Application or any other promotional activities. I would like to know as well as avail the benefits of various Bank loan offer schemes or loan promotional activities or any other promotional schemes and hereby authorize the Bank, its employees, agents, representatives, and associates to do so. I confirm that laws in relation to the unsolicited communication referred in "national Do Not Call Registry" as laid down by Telecom Regulatory of India will not be applicable for such communications/ calls/ SMSs received from the Bank, its representatives, agents. The Bank reserves the right to retain the photograph and documents submitted with the Application and shall not returned back.
4. I authorize the Bank to finance me for the premium of any third-party product available with the Bank, taken by me as per my own wish from the said third-party of my choice under the Loan and all the terms and conditions shall be additionally applicable thereto. All expenses, charges, fees, taxes etc., as applicable on any such third-party product shall be incurred and paid by me, however, in case I have availed such product, then Bank will not be responsible for any cancellations of any third-party product and or after sales service.
5. I hereby authorize the Bank to pay the fee and other amounts as may be payable directly to the institution concerned.
6. I undertake to submit the receipt for all the disbursements made from the loan account.
7. I will procure and furnish the securities in favour of Bank as and when stipulated and in the form and manner to the satisfaction of the bank.
8. I authorize the Bank to submit application/other relevant documents submitted by me to CERSAI. I hereby provide my consent to receive & download information from Central KYC Registry or from UIDAI through SMS/mail on the above registered number/email address.
9. I authorize IDFC FIRST Bank to exchange, share or part with all the information provided herein with financial institutions/agencies/statutory bodies/ other such persons, as may be required by IDFC FIRST Bank. I shall not hold IDFC FIRST Bank or its agents/representatives liable for using/sharing such information.
10. I explicitly consent and authorize IDFC FIRST Bank Limited, it's associate companies, agents, agencies, partners, educational institutions, credit reporting agencies and any other entity to verify any information such as enrolment verification, residence verification, employment verification, telephone verification, credit Bureau check, document verification, reference checks etc., and also exchange, share, part with all information related to transaction history as may be required by law, customary practice, credit reporting, statistical analysis and credit scoring for verification or risk management and shall not hold IDFC FIRST Bank Limited liable for use or disclosure of this information.
11. I confirm that I am not a Politically Exposed Person (PEP). PEPs are individuals who have been entrusted with prominent public functions, including heads of Governments, senior politicians, senior government etc.
12. I hereby consent to receive information about my loans and offers on WhatsApp on my registered number.
13. I recognize my responsibility to ensure timely repayments of the EMI's at all point in time of the tenor of the loan.
14. I would honor the mandate/Standing Instruction/autopay at all times.
15. In the event of issuing fresh repayment instrument, I will continue to honor contractual obligations till loan closure.
16. I recognize that the Bank has all rights to proceed with all legal measures if the mandate/autopay is dishonored for whatsoever reasons, including en-cashing / presenting the SI for the full balance value of the loan.
17. I, the Borrower, acknowledge that I have read and fully understood Key Fact Statement and hereby agree, accept and undertake to abide by the same.

• Taxes levied as applicable by the Government from time to time.
• The Bank may, at its sole discretion and on such terms as to part payment fees, etc., as it may prescribe from time to time, permit foreclosure of the loan at the request of the Borrower subject to the applicable laws and if permitted by the Bank, the Borrower shall pay to the Bank such part payment charges mentioned in the Annexure, as amended from time to time.
• All charges are exclusive of GST except mentioned otherwise.

APR: Annual Percentage Rate - Effective annualized interest rate (in percentage) (computed on net disbursed amount using IRR approach and reducing method). APR may slightly differ if loan application acceptance and disbursal date are different. Final APR shared herewith the Loan Agreement.

Cooling–off period: The Borrower can exit the loan within the cooling-off/look- up period by paying the principal and the proportionate charges without any penalty. The loan can be cancelled within 3 days in the cooling off period.