Please read these terms carefully. By using this website, you agree to be bound by all the terms and conditions of this agreement.

General Terms and Conditions

Terms of Use

1.1 Thank you for visiting www.Paisaintime.com. By accessing or using the website www.Paisaintime.com, whether automated or otherwise, you, as a registered or guest user under the eligibility criteria set out herein (“User”), agree to be bound by these Terms and Conditions (“Terms of Use”) and any additional terms and conditions referenced below or that may apply to specific areas of the website from time to time. We encourage our Users to read these Terms of Use carefully while using the website.

1.2 The website is owned and operated by Sawalsha Leasing and Finance Private Limited, a company incorporated under the provisions of the Companies Act, 2013, bearing corporate identity number (CIN) U74899DL1994PTC057431. All references to the website in these Terms of Use shall be deemed to refer to the aforementioned entity, including the online portal.

1.3 The contents set out herein form an electronic record in terms of the Information Technology Act, 2000, and rules thereunder, as applicable and amended from time to time. As such, this document does not require any physical or digital signatures and forms a valid and binding agreement between the website and the User. Further, please be advised that these Terms of Use are made available to the User pursuant to and in accordance with the provisions of Rule 3(1) of the Information Technology (Intermediaries Guidelines) Rules, 2011, which require publishing the rules, regulations, privacy policy, and terms of use for access or usage of the website.

1.4 We reserve the right to change these Terms of Use at any time. The changes will be effective from the date and time of posting. By continuing to use the website after such changes are posted, you accept the modified Terms of Use.

Customer Eligibility

2.1 Use of the website is available only to persons who can legally contract under the Indian Contract Act, 1872. Persons who are “incompetent to contract” within the meaning of the Indian Contract Act, 1872, including minors and undischarged insolvents, shall not be eligible to use the website. If the person accessing the website is a minor, i.e., under the age of 18 years, such person shall not register as a User of the website or transact on or use the website.

2.2 The website reserves the right to terminate any membership and/or refuse to provide access to the website if it is brought to the website’s notice or discovered that the person accessing/using the website is under the age of 18 years.

2.3 By accepting the Terms of Use, the User irrevocably declares and undertakes that he/she is of legal age, i.e., 18 years or older, and capable of entering into a binding contract. Such acceptance shall be deemed to form a contract between the website and the User, to the extent permissible under applicable laws.

2.4 The User must have a rupee-denominated savings/current account with a bank in India.

2.5 The User must have a PAN (Permanent Account Number) allotted by the Income Tax Department of India.

2.6 By accepting the Terms of Use, you acknowledge that you have read and understood the risks involved in lending and/or borrowing through the website.

2.7 To be eligible as a Borrower, the User must meet the following criteria:

2.7.1 The User must be a salaried individual.

2.7.2 If the User is a salaried individual, then the User: (a) must be based in India; (b) should not have been unemployed at any point in time during the last six months; (c) should not have any civil or criminal litigation instituted against him/her; (d) must be receiving his/her monthly salary in a bank account; and (e) must be seeking a loan amount between Rs. 25,000 and Rs. 5,00,000 with a loan term of not more than 24 months.

Sign Up and Registration

3.1 Any person may access the website either by registering or using it as a guest. However, a guest user may not have access to all sections of the website, as certain sections may be reserved exclusively for registered users. These restrictions may change from time to time at the sole discretion of the website.

3.2 All eligible Users who wish to register with the website must create an account by providing the required details as prescribed on the website.

3.3 By applying for registration, the User agrees and authorizes us to conduct necessary checks and verifications. As part of the registration process:

3.3.1 We shall perform identity, KYC, and fraud checks.

3.3.2 We shall obtain a credit rating for Users from the Credit Information Bureau.

3.3.3 We may conduct residence and/or employment verification at the User’s workplace.

3.4 If any User provides false, outdated, incomplete, or misleading information, or if the website has reasonable grounds to believe such information is inaccurate, the website reserves the right to suspend or terminate the User’s account and refuse any current or future use of the website (or any portion thereof).

3.5 Users may be required to provide certain personal information and expressly permit the website to access, collect, and retain such information. The provision, collection, storage, retention, use, and disclosure of Users’ personal information shall be subject to the website’s privacy policy, available at:https://www.Paisaintime.com/privacy-policy/

3.6 Registration Fee for Borrowers: There is no fee charged for registration.

Use of Website

4.1 To borrow through the website, you must log in to your Paisaintime account.

4.2 All registered Users are solely responsible for activities related to their account. The website and its operators shall not be liable for any unauthorized access, misuse, hacking, or refusal of access due to such reasons.

4.3 Website Users confirm that they have been provided with a copy of the Loan Agreement to be executed between the Borrower and the Lender. By accepting the Terms of Use, Users acknowledge that they have read, understood, and agree to abide by the Loan Agreement without any dispute.

4.4 If a User becomes aware of any instance of unauthorized access or misuse of their Paisaintime account, they must notify the website immediately.

4.5 We reserve the right to refuse to act on any instruction from a User if we believe: (a) The instruction is unclear. (b) The instruction was not given by the User. (c) Acting on the instruction may cause us to breach a legal or regulatory duty. (d) The website is being used for illegal activities.

4.12 The website strictly prohibits the following uses of its content: (i) Downloading, copying, or using the content for competitive purposes or third-party benefit. (ii) Unauthorized linking, framing, or caching of website content. (iii) Modification, distribution, transmission, performance, broadcasting, publishing, licensing, reverse engineering, or selling of any content obtained from the website. (iv) Uploading or transmitting software viruses or any malicious code. (v) Using tools or software to intercept or extract information from the website, including but not limited to data scraping or mining techniques. (vi) Actions that impose an unreasonable or disproportionately large load on the website’s infrastructure or disrupt its proper functioning.

4.13 The website reserves the right to refuse or cancel any User registration, remove Users, prohibit website access, or terminate access at any time without notice.

Terms, Conditions, and Process for Lending

5.1 If the Lender wishes to lend, they will have the option to select one or multiple Borrower Profiles from those available on the website.

5.2 The Lender agrees to provide their first loan within 30 (Thirty) days from the date of registration on the website.

5.3 Upon selecting a Borrower, the Registered Lender will transfer the desired loan amount (“Lending Amount”) to the Escrow Account via their bank using RTGS/NEFT.

5.4 Once the Lending Amount is successfully transferred and confirmed in the Escrow Account, the funds will be reflected in the User’s Paisaintime Account. This process may take up to 4-6 hours. Transfers made after the RTGS/NEFT cut-off time or on holidays will be processed on the next working day.

5.5 Upon confirming the Borrower’s profile (“Selected Borrower”), the equivalent Lending Amount will be credited to the User’s Paisaintime Account.

5.6 The Lender and Borrower will sign the Loan Agreement.

5.7 Charges and Fees: The website is entitled to charge fees, including a facilitation fee, which is only applicable if the Lender receives EMIs. Paisaintime may revise these fees periodically, notifying the Lender via email, SMS, or push notification.

Terms and Conditions for Borrowing

6.1 A Borrower can request a loan by submitting a loan application through the website.

6.2 During registration, the Borrower must provide their bank account details for repayment purposes.

6.3 By posting a Loan Request, the Borrower agrees to:

a) Provide additional information as requested. If any provided information is found to be inaccurate or incomplete, the Loan Request may be voided, and appropriate action may be taken.

b) Authorize Paisaintime to check their credit rating from recognized Credit Information Bureaus in India for repayment assessment.

c) Acknowledge that credit bureaus may link financial records with financial associates (e.g., joint account holders), which may be considered in credit evaluations.

d) Consent to allowing Sawalsha Leasing and Finance Private Limited and its service providers to obtain their Credit Information Report and Credit Score from CIBIL or Equifax for risk assessment and credit underwriting purposes. This consent must be confirmed before submitting the loan application.

e) Accept any loan amount offered by Lenders.

6.4 Based on the Borrower’s profile, Paisaintime may require the Borrower to arrange for a co-signor before loan disbursement. If the Borrower fails to provide a co-signor, Paisaintime reserves the right to reject the loan request.

6.5 Formation of Loan Agreements:

a) The Borrower agrees to accept loan offers that meet their borrowing criteria.

b) The Borrower agrees to sign loan agreements electronically or physically. For multiple agreements, the website will provide a summary of the loans in the Paisaintime Account.

6.6 Disbursement of Loan Proceeds: Upon execution of all required documents and fulfillment of all disbursement conditions to the satisfaction of the Company, the loan amount will be credited to the Borrower’s account. Loan disbursements follow a rounding-down approach for simplicity.

Example: If the final disbursed amount, after all deductions, is Rs. 9411.18, the Borrower will receive Rs. 9,411, and Rs. 0.18 will be adjusted to the platform.

6.6 Charges and Fees

The website shall be entitled to charge the following fees and charges.

a) Loan processing charge for every loan availed by the borrower.

b) GAP Interest charges if eligible.

c) Tracing charges (finding you if we are unable to find you at the resident address provided by you or the work location provided by you at the time of Loan Request, and we must trace your new address) – Rs. 300.

d) No-Response fee (if you fall into arrears and we cannot contact you for 15 consecutive days) – Rs. 300.

e) Recollection Fee (If our recovery person visits your office or residence to collect your EMI payment or visits your office or residence premises as you are not paying your EMI on time) – Rs. 300.

f) Change of Repayment Date (If you want to change the repayment date).

g) Change of Nominated Account (If you want to change the Nominated Account from which your EMIs are being repaid) – Rs. 300.

h) Litigation costs and expenses, including legal fees and expenses, to cover litigation recover outstanding arrears, in which case the Borrower will be advised of such costs and expenses if such action proves necessary.

i) Late Payment Fee: If a Borrower has delayed a repayment, Paisaintime reserves the right to charge you an administration fee for the work it does in attempting to collect your Repayments (“Late Payment Fee”).

In case the Loan amount is less than or equal to Rs. 100,000.

If the Borrower has delayed his repayment by 2 weeks (14 days from EMI date), he will be charged Rs. 1,500.

If the Borrower has delayed his repayment by 3 weeks (21 days from EMI date), he will be charged Rs. 2,250.

If the Borrower has delayed his repayment by 4 weeks, he will be charged Rs. 3,000.

For delays of an EMI beyond a month, the Borrower will be charged an additional 2% penal interest rate on the overdue amount.

In case the Loan amount is more than Rs. 1,00,000 but less than or equal to Rs. 3,00,000.

If the Borrower has delayed his repayment by 3 weeks (21 days from EMI date), he will be charged Rs. 3,000.

If the Borrower has delayed his repayment by 4 weeks, he will be charged Rs. 4,000.

For delays of an EMI beyond a month, the Borrower will be charged an additional 2% penal interest rate on the overdue amount.

In case the Loan amount is more than Rs. 3,00,000.

If the Borrower has delayed his repayment by 2 weeks (14 days from EMI date), he will be charged Rs. 3,000.

If the Borrower has delayed his repayment by 3 weeks (21 days from EMI date), he will be charged Rs. 4,500.

If the Borrower has delayed his repayment by 4 weeks, he will be charged Rs. 6,000.

For delays of an EMI beyond a month, the Borrower will be charged an additional 2% penal interest rate on the overdue amount.

The above charges will be divided among lenders and Paisaintime. The ratio of the split of charges is updated in Lender FAQ. These charges will be applicable on all the loans currently running on the platform. Paisaintime may revise the ratio of the split from time to time. Any such changes will be updated to the lender via email and/or SMS and/or push notifications.

j) All costs in relation to stamp duty and other related costs for preparation of the documents.

k) Loan Cancellation charges to the borrower when canceled by him/her – Rs. 1,000.

l) Loan Cancellation charges to the lender when canceled by him/her – Rs. 1,000.

Settlement of Payment

7.1 Any monies received from the Borrower, including delay charges, late fees, penal charges, or any other applicable charges, shall be kept in the Escrow Accounts.

7.2 These will be recorded as a credit to the Lender’s Paisaintime Account, which you can see by logging into your Paisaintime Account.

7.3 All collected repayments will be transferred to the Lender’s Paisaintime account within 3 days of receiving the EMI from the Borrower.

(a) The Lender will be notified when their Paisaintime account balance reflects received EMIs.

(b) The Lender can choose to withdraw funds from their Paisaintime account to their registered bank account by giving an instruction to Paisaintime. The Lender will not earn any interest on the funds lying in their Paisaintime account.

(c) For instance, if a Borrower pays EMI on the 2nd of the month, the amount will be transferred to the Lender’s Paisaintime account by the 5th of the month, and the Lender will not earn any interest on such an amount lying in their Paisaintime account.

(d) As a Borrower, you make your repayments due under loan agreements by direct debit to your bank account, which results in an initial credit and debit to your Loan Account on Paisaintime, and then a credit in each relevant Lender’s lending account. The repayment amount shall be rounded up to the nearest whole number and shall be payable by the Borrower. For example, if the repayment amount comes to Rs. 3,633.4, the Borrower will be required to pay Rs. 3,634.

(e) While crediting the Lenders’ accounts with EMI or applicable delay penal charges, the amount will be rounded off to two decimal places. For example, if EMI results in Rs. 180.1442, the Lenders’ accounts will be credited with Rs. 180.14.

(f) Once the loan EMI and applicable delay penal charges are distributed to the Lenders of the respective loans, the residual amount (if any), resulting from rounding down amounts to two decimal places, will be transferred to the platform as an adjustment amount.

For example, if EMI results in Rs. 180.1442, the Lenders’ accounts will be credited with Rs. 180.14, and Rs. 0.0042 will be transferred to the platform as the adjustment amount.

Settlement of Payment

7.1 Any monies received from the Borrower, including delay charges, late fees, penal charges, or any other applicable charges, shall be kept in the Escrow Accounts.

7.2 These will be recorded as a credit to the Lender’s Paisaintime Account, which you can see by logging into your Paisaintime Account.

7.3 All collected repayments will be transferred to the Lender’s Paisaintime account within 3 days of receiving the EMI from the Borrower.

(a) The Lender will be notified when their Paisaintime account balance reflects received EMIs.

(b) The Lender can choose to withdraw funds from their Paisaintime account to their registered bank account by giving an instruction to Paisaintime. The Lender will not earn any interest on the funds lying in their Paisaintime account.

(c) For instance, if a Borrower pays EMI on the 2nd of the month, the amount will be transferred to the Lender’s Paisaintime account by the 5th of the month, and the Lender will not earn any interest on such an amount lying in their Paisaintime account.

(d) As a Borrower, you make your repayments due under loan agreements by direct debit to your bank account, which results in an initial credit and debit to your Loan Account on Paisaintime, and then a credit in each relevant Lender’s lending account. The repayment amount shall be rounded up to the nearest whole number and shall be payable by the Borrower. For example, if the repayment amount comes to Rs. 3,633.4, the Borrower will be required to pay Rs. 3,634.

(e) While crediting the Lenders’ accounts with EMI or applicable delay penal charges, the amount will be rounded off to two decimal places. For example, if EMI results in Rs. 180.1442, the Lenders’ accounts will be credited with Rs. 180.14.

(f) Once the loan EMI and applicable delay penal charges are distributed to the Lenders of the respective loans, the residual amount (if any), resulting from rounding down amounts to two decimal places, will be transferred to the platform as an adjustment amount.

For example, if EMI results in Rs. 180.1442, the Lenders’ accounts will be credited with Rs. 180.14, and Rs. 0.0042 will be transferred to the platform as the adjustment amount.

Closing Your Paisaintime Account

9.1 Once all your Loan Agreements are repaid, you may terminate your Paisaintime registration by sending us an email at [email protected], and you will no longer be able to access the Lending Platform. However, we will continue to maintain records to the extent required by law.

9.2 We may terminate the registration of the User if the User has provided false information, has breached the Terms of Use, has died, become bankrupt, failed to pay the loan, been categorized in the Default category on the website, made a voluntary arrangement with anyone the User owes money to, or has established contact with anyone who owes money to the User without the website's knowledge.

9.3 We may either terminate or suspend your registration immediately and without notice if we are aware or reasonably suspect that you are engaged in, or may be the victim of, any fraudulent activity, if we find that you are damaging the website's reputation, if we find any activity against the website's interest, or if you are using information available on the platform for any other commercial purpose.

9.4 When we terminate your registration, you will not have access to your Paisaintime Account. However, this will not affect your obligation to repay the amount you have borrowed under a Loan Agreement or receive the EMI amount you have lent under a Loan Agreement.

Privacy and Data Protection

10.1 Service Communications

We understand your concerns about receiving unnecessary calls, emails, or SMS. However, there are some messages (“Service Messages”) that we will need to send you. These may be sent via email, post, call, or text message and include notifications at various stages of your loan or investment.

10.2 Occasional Updates

When you register on Paisaintime, you are offered the option to receive occasional updates. These messages notify you about new features added to the Lending Platform, ask for your opinion regarding various situations and services, and inform you about services you might not be using yet. If you decide you no longer want to receive these messages, you can change your contact preferences in the “My Contact Preferences” area once logged into your Paisaintime Account or email your preference to us at [email protected].

Use of Content

While using the website, the User specifically undertakes not to host, display, upload, modify, publish, transmit, update, or share any information or content that:

(i) belongs to another person and to which the User does not have any right;

(ii) is grossly harmful, harassing, blasphemous, defamatory, obscene, pornographic, paedophilic, libelous, invasive of another’s privacy, hateful, racially or ethnically objectionable, disparaging, related to or encouraging money laundering or gambling, or otherwise unlawful in any manner;

(iii) harms minors in any way;

(iv) impersonates any person or entity, or falsely states or otherwise misrepresents the User’s affiliation with a person or entity;

(v) threatens the unity, integrity, defense, security, or sovereignty of India, friendly relations with foreign states, or public order, or incites the commission of any cognizable offense, prevents the investigation of any offense, or insults any other nation;

(vi) infringes any patent, trademark, copyright, or other intellectual property rights (IPR);

(vii) contains software viruses or any other computer code, files, or programs designed to interrupt, destroy, or limit the functionality of any computer resource;

(viii) deceives or misleads the recipient about the origin of such messages or communicates any information that is grossly offensive or menacing in nature;

(ix) engages in any activity that interferes with or disrupts access to the website or the products (or the servers and networks connected to the website);

(x) attempts to gain unauthorized access to any portion or feature of the website, any systems or networks connected to the website, any website server, or any products offered on or through the website by hacking, password mining, or any other illegitimate means;

(xi) probes, scans, or tests the vulnerability of the website or any network connected to it, nor breaches the security or authentication measures on the website;

(xii) disrupts or interferes with the security of, or otherwise causes harm to, the website, system resources, accounts, passwords, servers, or networks connected to or accessible through the website or any affiliated or linked sites;

(xiii) uses the website or its content for any unlawful purpose, or to solicit the performance of any illegal activity that infringes on the rights of the website or third parties;

(xiv) falsifies or deletes any author attributions, legal notices, proprietary designations, or labels indicating the origin or source of software or other material;

(xv) violates any code of conduct or other guidelines applicable to any particular service;

(xvi) violates any applicable laws or regulations currently in force within or outside India.

Intellectual Property Rights

12.1 For the purposes of these Terms of Use, Intellectual Property Rights ("IPR") include all forms of intellectual property, whether registered or unregistered. This encompasses copyrights, patents (including the right to file patents), trademarks, trade names, trade dress, house marks, collective marks, and associated marks, along with the right to register them. Additionally, IPR covers industrial and layout designs, geographical indicators, moral rights, broadcasting rights, display rights, distribution rights, sales rights, adaptation rights, translation rights, reproduction rights, performance rights, communication rights, circulation rights, protected rights, joint rights, reciprocal rights, and rights related to infringement claims. Furthermore, IPR extends to all content associated with the website, including but not limited to text, graphics, user interfaces, visual interfaces, sounds, music (if applicable), artwork, and computer code.

12.2 All IPR on the website belongs exclusively to either the website or third-party sellers and suppliers. Under no circumstances shall any User infringe upon these rights while using the website.

12.3 Any IPR arising from domain names, internet rights, or any other rights under applicable law shall belong to www.lendenclub.com as the rightful owner of the domain name.

12.4 The parties agree and confirm that no IPR mentioned above is transferred to the User. Any IPR resulting from these Terms shall remain under the absolute ownership, possession, and control of the website or its owners/permitted assigns, as applicable.

12.5 Except as expressly stated herein, the User acknowledges and agrees not to copy, republish, post, display, translate, transmit, reproduce, distribute, or otherwise infringe upon any IPR through any medium without obtaining prior authorization from the website or the respective third-party IPR owner.

Indemnity

13.1 The User hereby agrees to indemnify, defend, and hold harmless the entity owning and operating the website, its subsidiaries, affiliates, vendors, agents, and their respective directors, officers, employees, contractors, and agents (collectively referred to as "Indemnified Parties") from and against any and all losses, liabilities, claims, suits, proceedings, penalties, interests, damages, demands, costs, and expenses (including legal and other statutory fees and disbursements), arising out of or in connection with:

(i) The User’s breach of these Terms of Use.

(ii) Any third-party claims arising due to the User’s use of the website.

(iii) Any claims that the User-provided content, proprietary information, or materials infringe upon third-party intellectual property rights.

(iv) Violation of any third-party rights by the User, including any IPR.

Each of the above constitutes an “Indemnity Event.”

13.2 Upon the occurrence of an Indemnity Event, the website may notify the User of any claims the User must indemnify against. The User is then obligated to consult with the website regarding the appropriate course of action for defending such claims.

13.3 The User shall not settle any claim, admit liability, or acknowledge wrongdoing on behalf of the website without obtaining prior written consent from the website, which reserves the right to withhold, deny, or condition such consent at its sole discretion.

13.4 Notwithstanding anything to the contrary, under no circumstances shall the website, its subsidiaries, affiliates, or their respective officers, directors, employees, partners, or suppliers be liable to the User for any special, incidental, indirect, consequential, exemplary, or punitive damages. This includes but is not limited to loss of use, data, or profits, whether or not foreseeable or whether or not the website has been advised of the possibility of such damages. Such claims may arise from breach of contract or warranty, negligence, or other tortious actions, or any other claims connected to the User’s use of or access to the website and its services.

Report Abuse and Take Down Policy

14.1 In the event the website or any User becomes aware of any objectionable content on the website, including but not limited to violation of privacy, misuse of personal information, or violation of any IPR, in violation of these Terms of Use, then the website, by itself or upon receipt of a communication from any of its Users, without any prior notice, may take down such objectionable content from the website.

14.2 For any reporting in respect of the aforesaid, the User should contact the website at [email protected].

14.3 If a feedback comment or any communication made between Users and the Website or email communication between Users in relation to transactions conducted on the website contains profanity, please submit a request for action/removal. Disciplinary action may result in the indefinite suspension of a User’s account, temporary suspension, or a formal warning.

14.4 The Website shall consider the circumstances of an alleged policy violation and the User’s trading records before taking action. Violations of this policy may result in a range of actions, including: (a) limits placed on account privileges; (b) loss of special status; (c) account suspension.

Feedback and Information

15.1 The Website reserves the right, at its sole discretion, to use such information for upgrading/enhancing the website, and such use shall be entirely unrestricted.

15.2 The Website may, at its discretion, also make any modifications or changes to the website and its content based on such feedback or information.

15.3 In the event that the website makes any changes or modifications to the website based on any such feedback, the User shall not have any rights or title (including any IPR) in such changes or modifications to the Website or Products listed therein.

15.4 By submitting any feedback or any information, the User hereby warrants that (i) the feedback does not contain confidential or proprietary information belonging to the User or any other person; and (ii) shall not be entitled to any compensation or reimbursement of any kind from the website for the feedback under any circumstances.

Applicable Law

These Terms of Use shall be governed by and interpreted and construed in accordance with the laws of India. The courts in Mumbai shall have exclusive jurisdiction in respect of any matters arising here.

Dispute Resolution

17.1 In the event any dispute arises out of or in connection with the Terms of Use herein, including the validity hereof, the parties hereto shall endeavor to settle such dispute amicably in the first instance. The attempt to bring about an amicable settlement shall be treated as having failed as soon as one of the parties hereto, after reasonable attempts, which shall continue for not less than 15 (Fifteen) calendar days, gives a notice to this effect to the other party in writing.

17.2 In case of such failure, the dispute shall be referred to a sole arbitrator, who shall be appointed by the website. The arbitration proceedings shall be governed by the Indian Arbitration and Conciliation Act, 1996, and shall be held in Mumbai. The language of the arbitration shall be English.

Jurisdictional Issues

Unless otherwise specified, the products/items listed on the website are solely for the purpose of delivery in India. The website shall under no circumstance be held liable for use or availability of Products for use in locations/countries other than India.

Jurisdictional Issues

19.1 If you want to make a complaint about the Loan Agreement or Paisaintime, you can email [email protected], with brief details of your complaint and your account reference. Paisaintime will acknowledge your complaint within one working day. Paisaintime will then investigate and send you an initial response within five working days.

19.2 If you are not satisfied with the response from the Customer Services Manager, you can email [email protected], enclosing responses already given to you. Your email will then be referred to the Chief Operating Officer, who will respond within five working days.

General Provisions

20.1 Notice: All notices to be issued pursuant to these Terms of Use shall be served to the User by email or by general notification on the website. Any notice to be sent to the website pursuant to these Terms of Use shall be sent to the website’s grievance officer by email at [email protected].

20.2 Assignment: These Terms of Use shall not be assigned or otherwise transferred by the User. However, the website’s obligations under these Terms of Use are freely assignable or otherwise transferable by the website to any third parties without the requirement of seeking the User’s prior consent.

20.3 Severability: If any provision of these Terms of Use is void, or is so declared, such provision shall be severed. The Terms of Use shall otherwise remain in full force and effect.

20.4 Waiver: Any failure or delay by a party to enforce or exercise any provision of these Terms of Use, or any related right, shall not constitute a waiver by such party of that provision or right. The exercise of one or more of a party’s rights hereunder shall not be a waiver of or preclude the exercise of any rights or remedies available to such party under these Terms of Use or in law or at equity. Any waiver by a party shall only be made in writing and executed by a duly authorized officer of such party.

20.5 Relationship and Exclusivity: Nothing in these Terms of Use shall constitute or be deemed to constitute a partnership, joint venture, agency, or the like between the parties hereto or confer on any party any authority to bind the other party or to contract in the name of the other party or to incur any liability or obligation on behalf of the other party.

20.6 Force Majeure: If performance of any service under these Terms of Use by the website is prevented, restricted, delayed, or interfered with by reason of labor disputes, strikes, acts of God, floods, lightning, severe weather, shortages of materials, rationing, inducement of any virus, Trojan, or other disruptive mechanisms, any event of hacking or illegal usage of the website, utility or communication failures, earthquakes, war, revolution, acts of terrorism, civil commotion, acts of public enemies, blockade, embargo, or any law, order, proclamation, regulation, ordinance, demand, or requirement having legal effect of any government or any judicial authority or representative of any such government, or any other act whatsoever, whether similar or dissimilar to those referred to in this clause, which are beyond the reasonable control of the website and could not have been prevented by reasonable precautions, then the website shall in toto be excused and discharged from such performance to the extent of and during the period of such force majeure event, and such non-performance shall, in no manner whatsoever, amount to a breach by the website of its obligations herein.

Insurance for Loan or Borrower

21.1 This feature is currently not available. However, the Lender and Borrower authorize the website to work with any insurance company registered with IRDA and ready to provide beneficiary products. If such a facility comes into existence on the website in the future, the website need not take any permission from the user.

21.2 For any such product, the Borrower or Lender, or both, choose to pay the premium amount to Paisaintime, and then Paisaintime will pay the same to the insurance company on your behalf.

21.3 Paisaintime will be the nominee for this insurance policy and is authorized to manage the claim settlement process on your behalf. Once the claim settlement is done, Paisaintime will distribute the settlement amount to Lender(s) and then transfer the available amount to the Borrower’s bank account, if there is any.

21.4 In case your repayments are irregular or delayed on a consistent basis, Paisaintime reserves the right to cancel the insurance policy. The insurance policy will be co-terminus with your loan tenure.

21.5 In case of any incident (permanent disability/accidental death of the Borrower), the beneficiary/nominee will need to intimate Paisaintime, who will then initiate the claims on the beneficiary/nominee’s behalf.

Defined Terms

22.1 In these T&C, the following words have the following meanings: