Last updated: Payandserve Digital Lending Platform maintains these Terms in line with applicable laws of India and the Reserve Bank of India (“RBI”) Digital Lending Guidelines, 2022 (as amended).
1. Acceptance of Terms
By accessing or using this website, mobile application or any service of Payandserve Digital Lending Platform (“we”, “us”, “our”), you (“user”, “borrower”) agree to these Terms of Service. If you do not agree, please do not use the services.
2. Eligibility
Services are available only to Indian citizens aged 21 to 60, with a valid Aadhaar & PAN, an active Indian bank account, and a verifiable source of income.
3. Loan Products
Payandserve Digital Lending Platform is a digital lending service provider. Loans are offered in partnership with RBI-regulated lending entities (“Lenders”). The final lender, loan amount, interest rate, tenure, fees and charges are disclosed transparently in a Key Fact Statement (KFS) before any loan is disbursed.
4. Application & KYC
You authorise us, our Lender partners and authorised service providers to perform identity verification (Aadhaar-based eKYC where applicable), bank statement analysis, credit bureau checks and other due-diligence as required under RBI/PMLA norms.
5. Fees & Charges
All applicable fees (processing fee, GST, late payment penalty, foreclosure charges) are stated in your loan sanction letter and the KFS. We do not levy any hidden charges.
6. Data Protection
Your personal and financial data is collected, stored and processed in compliance with the Digital Personal Data Protection Act, 2023 and the RBI Digital Lending Guidelines. See our Privacy Policy.
7. Cooling-off Period
In line with RBI Digital Lending Guidelines, you have a cooling-off / look-up period to exit a digital loan by paying the principal and proportionate APR — without any prepayment penalty — as specified in the loan agreement.
8. Communications
By submitting your contact details, you consent to receive calls, SMS, WhatsApp messages and emails from Payandserve Digital Lending Platform and its Lender partners regarding your application and service updates, regardless of your DND registration status, in line with TRAI guidelines.
9. Grievance Redressal
Any complaint or grievance may be lodged as per our Grievance Redressal policy. Unresolved complaints may be escalated to the RBI Ombudsman.
10. Limitation of Liability
Payandserve Digital Lending Platform provides the platform on an “as is” basis. To the maximum extent permitted by law, we are not liable for indirect or consequential losses.
11. Governing Law
These Terms are governed by the laws of India. Courts at [insert city] shall have exclusive jurisdiction.
This is a starter template — please have it reviewed by your compliance/legal counsel before going live.