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:
- 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
- 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.
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 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.
- 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 firstname.lastname@example.org 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: email@example.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
Address: Adventz Infinity, BN Block, Sector V, Bidhannagar, Kolkata, West Bengal 700091