Terms and Conditions


We at RDQ Technologies Private Limited (henceforth referred to as "our", "us", "we", "Company", "RDQ Finserv") have developed the RDQ FINSERV mobile application ("App") and we are happy to have you with us. Please read these terms of use ("Terms") carefully before you use the App since they constitute the agreement between (a) you; (b) us; c) Contship Commodities Pvt Ltd, ( (our "Lending Partner"). The Lending Partner, the Insurance Partner and RDQ Finserv shall collectively be referred to as ("Affiliates").

By continuing to browse and use this website https://rdqfinserv.com/ and the Mobile App, you are agreeing to comply with and be bound by the following terms & conditions of use, which together with our ‘Privacy Policy,’ govern RDQ Finserv’s and our Lending Partner’s relationship with you. You are aware of and accept that all information, materials, content, products (including, but not limited to text, content, photographs, graphics, video and audio content) on the website and the App is protected by copyright in favour of RDQ Finserv under the applicable copyright laws and the general intellectual property law.

For your ease, we have provided the summaries of some crucial Terms. However, in case of any conflict between the summaries and these Terms, the Terms shall prevail.

These Terms incorporate the following documents (including all their variants and updates) by reference:

  • The RDQ Finserv Privacy Policy; and
  • The agreement(s) executed by you (and co-applicants, members, nominees, if any) for availing the Services (as defined in the Sections below) from us and our Affiliates.

By accessing or using the Services of our Affiliates, you agree (on behalf of yourself and your co-applicants, members, nominees, if any) to be bound by these Terms and to the collection and use of your information as outlined in the RDQ Finserv Privacy Policy.

All our Services are subject to applicable laws, government notifications, the rules, regulations and guidelines issued by the Reserve Bank of India ("RBI"), any other regulatory bodies defining the rules/regulations governing the offer of any Services on the App.

We may revise these Terms as well as update the App and Services from time to time, so please keep visiting this page regularly. If you do not agree with any part of these Terms, please stop using the App immediately. If you have any queries or concerns regarding these Terms, please contact our Grievance Officers (please refer to Clause 4 of Section A below for details of our Grievance Officers).

SECTION A: LENDING PARTNER SERVICES

If you avail of Services from the Lending Partner, Section 1 of this Terms will be applicable to you.

1. SCOPE OF SERVICES

Summary: RDQ Finserv helps you access personal loans easily. You must be legally permitted to enter into a contract and provide us with the information and permissions we need in the manner we ask for.

  • Eligibility: You may use our Services only if you are legally permitted to do so under applicable laws. If we discover that any person using our Services is not capable of entering into a legally binding contract, we may immediately terminate their RDQ Finserv Account (as defined below). Do note that if you avail of a loan through the App, the terms of the loan will be governed by the applicable User Loan Agreement.
  • Our Deliverables: RDQ Finserv allows you to acquire
    • A personal loan from our Lending Partner in a seamless and paperless manner; and/or
    • A Loan against Securities from our Lending Partner in a seamless manner; and/or
    • A loan for consumer durables(white goods and furniture) in a seamless and paperless manner.

RDQ FINSERV may provide a combination of the following facilities to our users:

Services:

  • Enabling you to avail of personal loans.
  • Personal credit management.
  • Enabling you to avail of Loan against Securities; and
  • Enabling you to avail of Loan for consumer durables(white goods and furniture)

We may add or subtract from the Services we are providing from time to time.

  • Signing up to use our Services: To use the App, you must create a profile (“RDQ Finserv Account”) with us through the App. To create an RDQ Finserv Account, you must provide us with your phone number, which we will authenticate with a one-time password. You must also permit us to gain access to your Financial SMSes, contacts, location data, installed applications, storage and such other device data as we may require to provide our Services to you. You have to provide us with the following details (with supporting documents to the satisfaction of our Lending Partner):
    • Your name as provided in your PAN Card
    • Mobile phone number
    • Email ID
    • Date of birth
    • Marital status
    • Residential details
    • Employment type and place of work
    • Monthly income
    • PAN
    • Details of all documents pertaining to the security provided (if you are availing a Loan against securities); and
    • Other such documents, as may be requested by our Lending Partner from time to time.

You should add the information and documents requested in the manner prompted on the App. If you revoke any of our permissions in the App, then you will not be able to use the App. You will also be required to appoint us as your, and your co-applicant’s authorized agent to access your, and your co-applicant's credit information from various credit information companies (such as EQUIFAX, CIBIL etc.).

We and our Lending Partner reserve the right to store information on your device in the form of cookies or similar files for purposes of modifying the App to reflect your preference. The App is deemed to be in use when it is loaded in a temporary or permanent memory of your device.

The RDQ Finserv Privacy Policy details the nature and type of information we collect and the process (either for ourselves or on instructions and on behalf of our Lending Partner) to enable the setting up of an RDQ Finserv Account, completing the Know-your-Customer (“KYC”) processes or to provide such information to our Lending Partner as it may need to process your loan. If the information provided by you does not, in our sole discretion, amount to reliable information or appears to be fraudulent, then we will not allow you to open an RDQ Finserv Account and you shall not be eligible to apply for a loan using the App. If we discover any deficiency in the information provided by you at a later date, then we may terminate your RDQ Finserv Account. Please note that we may add further verification procedures in the future, whereby you may be required to provide us with more information.

2. LOAN PROCESS - HOW IT WORKS

Summary: Through your RDQ Finserv Account, we help you to discover the maximum amount you are eligible to borrow from our Lending Partner and the terms on which our partner might lend to you. Our Lending Partner will, alone, decide whether to offer you the loan or not. If you have availed of a personal loan or any other lending product, the terms of your loan will be provided in the User Loan Agreement executed between you and our Lending Partner.

  • Your loan is going to be sanctioned by our Lending Partner and be governed by the applicable User Loan Agreement. The details of such loan, however, shall be shown on the App.
  • Once your RDQ Finserv Account has been set up, then basis the information you provide us with and the information we collect from your device and through other lawful means (as detailed in the RDQ Finserv Privacy Policy), we will inform you of the maximum amount you are eligible to borrow from our Lending Partner. Basis this, you may decide the loan amount you wish to apply for and the monthly instalments you are willing to pay. Once you input these parameters, our Summary: Through your RDQ Finserv Account, we will help you to discover the maximum amount you are eligible to borrow from our Lending Partner and the terms on which our partner might lend to you. Our Lending Partner will, alone, decide whether to offer you the loan or not. If you have availed of a personal loan or any other lending product, the terms of your loan will be provided in the User Loan Agreement executed between you and our Lending Partner. The Lending Partner alone decides on whether to loan you any amounts or not and will suggest the terms of the loan and the applicable interest rates you are likely to be charged by our Lending Partner.
  • Once these parameters have been provided and you decide to move forward with availing of a loan from our Lending Partner, you will be required to undertake a KYC process with us. The KYC process must satisfy our Lending Partner. Additionally, if you are availing of a Loan against Securities from our Lending Partner, you will be required to provide all documents related to the security provided, in the form and manner that is acceptable by our Lending Partner. Our Lending Partner may further ask for any documents and information it would require for its internal processes, to sanction your loan.
  • If you are availing of a personal loan or a consumer durables loan, once you accept the proposed loan terms and clear the KYC process to the satisfaction of our Lending Partner, we will direct you to a User Loan Agreement to be executed between you and our Lending Partner.
  • If you are availing of a Loan against Securities, you consent to the verification of
    • You and your co-applicant's data by us and our Lending Partner; and
    • Any other data that is relevant to the processing of the loan application.
    Thereafter, once you accept the proposed loan terms, clear the KYC process and provide all documents pertaining to the securities provided when availing of a Loan against Securities, to the satisfaction of our Lending Partner, a User Loan Agreement will be executed between you (including your co-applicants, if any) and our Lending Partner, through offline methods, as intimated by the Lending Partner.
  • You will be required to issue appropriate auto-debit instructions to your bank account for repayment of the loan amount, prior to disbursal. These cannot be changed or cancelled during the term of the loan. The App will display the details of the EMI, including the due date and amount payable, as well as whether your payment was received or not, from time to time. Our Lending Partner shall directly transfer the loan amounts to the bank account of your choice. Prior to making this transfer, however, our Lending Partner will need to verify your bank account.
  • Please note that you are not permitted to remove the App from your mobile device until the loan has been repaid. In case you are compelled to remove the App from your mobile device, please write to us at support@rdqfinserv.com immediately. Any violation of this Clause 2(vii) shall be tantamount to fraud and we may initiate legal proceedings against you.

3. DISCLAIMERS AND LIMITATIONS

Summary: We are a loan facilitator and not a loan provider. We provide our Services ‘as is’, and we make no promises or guarantees about these Services. We will not be liable for damages or losses arising from your use or inability to use the Service or otherwise arising under this arrangement.

RDQ Finserv only helps you to gain access to loans, i.e., we are only a facilitator. You are contracting a service directly with our Lending Partner. We accept no responsibility for the provision of loans or their consequences. Our responsibility is limited to connecting you to our Lending Partner, displaying your loan eligibility and the terms of your loan.

We accept no responsibility for the terms that we communicate to you in good faith. We are not liable for any losses that may occur as a result of the acts or omissions of our Lending Partner. We do not accept responsibility for any amounts transferred to your bank account or any remittance to your account that has failed. However, we shall undertake all reasonable steps to ensure such actions do not take place.

Unless otherwise expressly stated, we or the Insurance Partner make no representation that materials on the App are appropriate or available for use in any location. Those who choose to access the App are responsible for complying with local laws. The services/products which are part of the App do not constitute an offer to sell or a solicitation of an offer to buy any policies/products to any person in any jurisdiction where it is unlawful to make such an offer or solicitation. Except as specifically set forth herein the information contained on the App is not an offer to sell any security, insurance product or other product or service. No security, insurance product or other product or service is offered or will be sold in any jurisdiction in which such offer or solicitation, purchase or sale would be unlawful under the securities, insurance or other laws of such jurisdiction. Some products and services may not be available in all jurisdictions.

The App and Services are provided on an “as is” basis without any representation or warranties, express or implied except otherwise specified in writing. We do not warrant the quality of the Services or the App, including its uninterrupted, timely, secure or error-free provision, continued compatibility with any device, or correction of any errors.

In no event shall we or any of our Affiliates, successors, and assigns, and each of their respective investors, directors, officers, employees or agents be liable for any special, incidental, punitive, direct, indirect or consequential damages or losses suffered (including, but not limited to, damages caused by any virus, personal injury, loss of profits, data or other intangibles, business interruption, loss of privacy, or any other pecuniary loss) arising out of or in any way connected with the use/delivery/performance of the App, with the delay or inability to use the App or any. Summary: As a consequence of a breach of the Terms by another user or arising out of the use of or the reliance on any of the Services or the App. We are a loan facilitator and not a loan provider.

We provide our Services ‘as is’, and we make no promises or guarantees about these Services. We will not be liable for damages or losses arising from your use or inability to use the Service or otherwise arising under this arrangement, links or items on the App, the provision of or failure to provide Services, or for any information, software, products, services and related graphics obtained through the App, or otherwise arising out of breach of the Terms by another user or reliance on any of the Services or the App, whether based on contract, tort, strict liability or otherwise, or for the cost of procurement of substitute goods and repair & correction services or messages received or transactions entered into through or from the App or resulting from unauthorized access to or alteration of your transmissions or data, even if you have been advised of the possibility of such damages.

Availing of loans carries risk and you should speak with your trusted advisors and/or financial consultant before availing of any debt of any kind, whether from RDQ Finserv or otherwise.

In the event, any exclusion contained herein is held to be invalid for any reason and we or any of our Affiliates, officers, directors or employees become liable for loss or damage, then, any such liability shall be limited to the loan amount availed by you.

4. GRIEVANCE OFFICER

Summary: You may reach out to the Grievance Officer at: support@rdqfinserv.com to enquire about your concerns.

To address any questions or grievances that you may have regarding the use of App or Services, please contact our Grievance Officer in the following manner:

Name: Swarnendu Jana

Email: support@rdqfinserv.com

Address: Adventz Infinity, BN Block, Sector V, Bidhannagar, Kolkata, West Bengal 700091

SECTION B: GENERAL

If you avail of Services from the Lending Partner, Section 1 of this Terms will be applicable to you.

1. PRIVACY OF DATA

Summary: You can read about how we handle and use your data in our privacy policy available here.

The RDQ Finserv Privacy Policy provides the manner in which we and our Affiliates store, process, collect, use and share the data that is collected from you. Please read it so you know your rights in this regard.

2. YOUR OBLIGATIONS

Summary: You must always (a) provide us with correct information; (b)keep your mobile device secure, and (c) be responsible for all costs in case we suffer any damages or claims owing to your use of the App. Lastly, remember to keep the App updated.

  • Duty to provide true information: The information you provide is used by us and our Affiliates to determine your eligibility for our Services. It is critical that all information you provide to us be true, complete, not misleading and is regularly updated by you. If all or any part of this information is incorrect, incomplete or misleading, it would be a breach of these Terms and a violation of the law. We may approach the police and other appropriate authorities to initiate action against you. You must further ensure that you do not do anything that can make the information provided by you incorrect, incomplete or misleading at a later date. If you discover any information provided is incorrect, incomplete or misleading, then please write to the respective Grievance Officer immediately.
  • Duty to be responsible: Considering the nature of the App and Services provided, please ensure that you keep your mobile device safe. You are solely responsible for all activities that occur under your credentials on the App and any amounts debited or credited to your bank account. You should keep your password safe and not disclose your RDQ Finserv Account details to any third party or share the account with any third party. If you think someone has gained access to your RDQ Finserv Account, please contact our Grievance Officer immediately and undertake such other activities as may be required. If you are directed to our third-party services, you may be subject to terms and conditions governing the use of that third party's service and that third party's personal information collection practices. Please review such terms and conditions and privacy policy before using the third party's services.
  • Obligation to indemnify: To the extent permitted under applicable law, you agree, to indemnify us (i.e., the Company), our Affiliates, directors, agents, and employees from and against all complaints, demands, claims, damages, losses, costs, liabilities and expenses, including attorney fees, due to, arising out of or relating in any way to
    • Your access to or use of the App and/or Services;
    • Your breach of these Terms;
    • Your breach of any applicable laws or third-party rights;
  • Ensure compatibility and keep updated: You must ensure that you keep updating the App as and when we release new versions of it. Failure to do so may make you incapable of using certain Services or the App altogether. You should also ensure that you are able to use the App with your preferred bank account.

3. RESTRICTIONS ON YOU

Summary: You shall not hack or in any way jeopardize the App. You should not use the App for any forward lending purposes or to grant loans to any third parties. You should not use the App/Services for any illegal purposes. These are explicitly barred.

  • No scaling or jeopardizing our platform: You agree to not interfere with or use non-public areas of our App and our technical delivery system. You will not introduce any trojans, viruses, any other malicious software, any bots or scrape our App for any user information. Additionally, you will not probe, scan, or test the vulnerability of any system, security or authentication measures implemented by us. If you tamper or attempt to tamper with our technical design and architecture, we may terminate your RDQ Finserv Account. We may further report such actions to the appropriate law enforcement authorities and initiate legal actions.
  • No commercial usage: You shall use the Services only for your lawful and personal use. You will not use our Services for any purposes not permitted under applicable law and these Terms.
  • No illegal usage: You shall not use the App or the Services for committing fraud, embezzlement, money laundering or for any other unlawful and/or illegal purposes. Further, although we may, from time to time, monitor or review any facilities, if established or otherwise offered on the App for discussions, chats, postings, transmissions, bulletin boards, and the like on the App, you are prohibited from posting or transmitting any unlawful, threatening, libellous, defamatory, obscene, scandalous, inflammatory, pornographic, profane material or any material that could constitute or encourage conduct that would be considered a criminal offence, give rise to civil liability, or otherwise violate any law. We are under no obligation to do so and assume no responsibility or liability arising from the content of any summary. You shall not hack or in any way jeopardize the App.

    You should not use the App for any forward lending purposes or to grant loans to any third parties. You should not use the App/Services for any illegal purposes. These are explicitly barred. Such locations nor for any error, defamation, libel, slander, omission, falsehood, obscenity, pornography, profanity, danger, or inaccuracy contained in any information contained within such locations on the App. We will fully cooperate with any law enforcement authorities or court order requesting or directing us to disclose the identity of anyone posting any such information or materials

  • Maintenance of bank accounts:You shall not do any action that may jeopardize the RDQ Finserv Account or in any way frustrate the repayment of the loan amounts as may be disbursed to you.

4. INTELLECTUAL PROPERTY

Summary: We own the content on the App. You cannot duplicate or commercially exploit the App or its content.

  • All of the content on the App, including, all images, illustrations, graphics, video clips, text, reports generated, trademarks, as well as the underlying code of the App (“App Content”), constitutes our intellectual property.
  • We give you a limited, non-transferable, non-sublicensable and revocable license to access the App, avail of the features of the App for your personal, lawful requirements only. You are not entitled to duplicate, distribute, create derivative works of, display, or commercially exploit the App Content, features or facilities, directly or indirectly, without our prior written permission.

5. REGULATORY CHANGES

Summary: Financial technology is an evolving sector. This may lead to changes in law and regulations which may lead us to modify the App or shut it down.

Regulation around technology companies such as ours is ever-changing. You understand that the Company may have to modify the Services as well as the App on account of the regulatory landscape we are subject to. In such case, if you become incapable of using all or any part of the App or the Services, the same shall not be our fault.

Regulation around technology companies such as ours is ever-changing. You understand that the Company may have to modify the Services as well as the App on account of the regulatory landscape we are subject to. In such case, if you become incapable of using all or any part of the App or the Services, the same shall not be our fault.

6. THIRD-PARTY LIABILITY

Summary: To provide you with a working ecosystem, we collaborate with various third parties. These third parties have their own protocols, terms of use and privacy practices. We cannot be responsible for their activities.

In providing the Services to you, we will need to use third-party services. This is done to facilitate checking your credit score, facilitating payment to and from you and other practical and functional purposes to enhance the Services we provide to you. While we have appropriate agreements in place with these third parties, we do not accept any liabilities that may arise from our use of or reliance on such third-party services. Further, it may so happen that you are unable to link your bank account with the App – whether to credit or debit the loan amounts - in which case, we will not be liable for any damages or losses suffered by you.

7. THIRD-PARTY CONTENT AND ADVERTISEMENTS

Summary: Ads/third party services displayed on the App are not endorsed. Please use them at your own risk. Please read the terms of use of such third parties before using their services.

We may, from time to time, display offers and advertisements from third parties on our App for your benefit. However, this does not mean we endorse these third parties. If you accept any of the services of such third parties, such arrangement shall be solely between you and the third party, you should avail of such services only after you have read their terms of use and privacy policies.

8. TERMINATION

Summary: We may terminate your RDQ Finserv Account by informing you by email. However, you will continue to make the payments/ premiums owed to our Affiliates as agreed under the respective documents/ policies.

If we decide to terminate your RDQ Finserv Account for any reason, we will inform you of such a decision on the App or by email. However, this will not extinguish your obligations under the applicable documents/policies. We will not be liable for any losses or damages that you may suffer from such termination of your RDQ Finserv Account.

9. OPT-OUT REQUEST

Summary: Email us at support@rdqfinserv.com to opt-out of receiving any updates from us.

Users who have availed of our Services may not, prior to such Services being completed/closed, either uninstall the App or deactivate their RDQ Finserv Account. Such users may further note, that in the event you either delete the App and/or deactivate your account, at any point prior to the closure of the respective Services, such an act will not extinguish your responsibilities under the applicable documents/policies.

In case any other user (i.e., any user who either hasn’t availed any Services using RDQ Finserv), does not want to continue using our App and the Services and/or wants to deactivate their RDQ Finserv Account, and/or unsubscribe from the mailing lists, they may do so by contacting us at support@rdqfinserv.com

10. FORCE MAJEURE

Summary: We cannot be held responsible for any deficiency or loss of Services owing to any reasons outside of our control.

Without limiting the foregoing, under no circumstances shall we be held liable for any damage, loss, loss of services of App, due to deficiency in the provision of the Services resulting directly or indirectly from acts of nature, forces, or causes beyond its reasonable control, including, without limitation, internet failures, computer equipment failures, telecommunication equipment failures, or any other government regulations, floods, storms, electrical failure, civil disturbances, riots etc.

11. GENERAL PROVISIONS

  • Notification: We shall notify you of any relevant information pertaining to your use of the Services by push notification on the App, SMS, call, WhatsApp, instant messaging services or email or through any other means that we may deem appropriate. You authorize us to reach out to you, irrespective of whether you register with the National Do Not Call registry. You may reach out to us via email at support@rdqfinserv.com
  • Disputes: These Terms and any action related thereto will be governed by the laws of India. Any disputes arising out of or related to the Terms, the App, or the Services shall be subject to the jurisdiction of the courts located in Kolkata, West Bengal.
  • Assignment: You shall not assign or transfer any right or obligation that you have accrued under these Terms, and any attempt made by you to assign or transfer such rights and obligations, shall be deemed null and void. We may assign or transfer any rights or obligations that get accrued in our favour, at our sole discretion, without any restriction.
  • Waiver: Unless otherwise stated expressly, any delay or failure in our exercising any rights/remedies arising out of these Terms and/or other policies available on the App, shall not constitute a waiver of rights or remedies and no single/partial exercise of any rights or remedies, hereunder, shall prevent any further exercise of the rights/remedies by us.
  • Survival: You acknowledge that your representations, undertakings, and warranties and the clauses relating to indemnities, limitation of liability, repayment of the loan, governing law & arbitration and these general provisions shall survive the efflux of time and the termination of these Terms.
  • Severability: If any provision of these Terms is held illegal or unenforceable, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby. Any such provision held invalid, illegal or unenforceable shall be substituted by a provision of similar import reflecting the original intent of the parties to the extent permissible under applicable laws.
  • Amendment: We reserve the right to change, modify, add to, or remove discounts, portions of these Terms at any time, subject to the policies of the Company and applicable regulations.

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