1. General Terms

1.1. You must adhere to all terms and conditions listed here and in other parts of the site. These terms may change from time to time, and we encourage our clients to read them thoroughly.

1.2. The information provided is an electronic record under the Information Technology Act, 2000, and constitutes a binding agreement between the user and the site. You should review all Terms and Conditions available in accordance with Rule 3 (1) of the Information Technology Rules, 2011.

1.3. We may update the terms of use from time to time. Changes will be effective from the date they are posted on the site. Your continued use of the site constitutes acceptance of these changes.

2. Eligibility

2.1. The site may only be used by individuals who can legally enter into contracts under the Indian Contract Act, 1872. Minors, undischarged insolvents, etc., are not eligible to use the site.

2.2. We reserve the right to terminate any membership or deny access to the site if it comes to our knowledge that the user is under 18 years of age.

2.3. By accepting these Terms, you affirm that you are of legal age (18 years or older) and capable of entering into a binding agreement.

2.4. Users must hold a rupee-designated current/savings account with a registered LoanForCare entity in India.

2.5. Users must possess a Permanent Account Number (PAN) issued by the Income Tax Department of India.

2.6. By accepting these Terms, you acknowledge that you understand the risks involved in borrowing and lending through the site.

2.7. To be eligible for a personal loan, users must:

• Be a salaried individual.
• If salaried, the user must be:
  • Located in India;
  • Employed and not unemployed within the last six months from the date of applying;
  • Free from any criminal or civil cases against them;
  • Receiving a regular monthly salary into their bank account.

3. Registration

3.1. Users can access the site either as a guest or by registering. Some sections are available only to registered users.

3.2. Eligible customers wishing to register must create an account by providing required information.

3.3. By registering, users consent to verification procedures including:

• Identity, KYC, and fraud checks;
• Obtaining a credit score;
• Employment and home verification.

3.4. Providing inaccurate or incomplete information may lead to suspension or termination of the user account.

3.5. Users must provide personal information and authorize the site to collect and retain this information as per our privacy policies.

3.6. Registration is free, and no processing charges apply for obtaining a personal loan through the site.

4. Use

4.1. To apply for a short-term personal loan, users must log in to their LoanForCare account.

4.2. Users are solely responsible for activities related to their account. We are not liable for criminal activities, unauthorized access, or hacking.

4.3. Users must confirm receipt of one copy of the loan agreement and acknowledge they have read and understood its terms.

4.4. Users must promptly inform us if they suspect their account information has been compromised.

4.5. We reserve the right to refuse instructions from users if they are unclear, not from a registered user, could breach laws, or suggest misuse.

4.6. Unauthorized access to the site may result in temporary or permanent suspension of the user’s account.

4.7. Users must not save or print content from the site for unauthorized commercial use.

4.8. We may refuse or cancel user registration and ban individuals for specific reasons temporarily or permanently.

5. Procedure

5.1. Lenders can choose borrower profiles from the site.

5.2. Lenders must provide the first loan within 30 days of registration.

5.3. Registered lenders can transfer the loan amount requested by the borrower without deviation.

5.4. A formal agreement will be made between the borrower and LoanForCare.

5.5. The loan amount will be debited from the borrower’s account.

6. Terms for Borrowing

6.1. Borrowers can apply for a loan by posting their requirements and completing the application process.

6.2. During registration, borrowers must provide complete bank account information for repayment.

6.3. Upon loan approval, borrowers must:

• Provide additional required information for loan processing;
• Authorize us to check their credit score from the Credit Information Bureau of India;
• Accept the loan amount approved by the lender.

7. Settlements

7.1. Repayments may include late fees or penalties.

7.2. Payments will be recorded in the lender's LoanForCare account, and information can be accessed by logging in.

7.3. Collected repayments will be transferred to the lender’s LoanForCare account, and EMIs will be reflected within 3 days.

8. Organization of Loan

8.1. EMIs will commence from the loan disbursement date, with interest starting after 5 days from the investment or loan payment day, whichever is earlier.

8.2. Borrowers may prepay the loan without any prepayment charges.

8.3. If a borrower misses a payment, they should email the organization to:

• Describe the delay charges;
• Inform LoanForCare about the delay;
• Ensure their account is not categorized as a defaulter;
• Notify CIBIL of the payment default.

8.4. Default borrowers are those who:

• Miss three consecutive payments;
• Are reported deceased;
• Cannot make further repayments for any reason.

9. Closing Your LoanForCare Account

9.1. After completing all loan repayments, you may request to close your account by email.

9.2. We reserve the right to terminate accounts with incorrect information or misuse of terms, or if the borrower has passed away.

9.3. We may also terminate accounts involved in fraudulent activities or harming the site’s reputation.

10. Information Protection and Privacy

10.1. We will send service communications to your registered mobile number and email ID as needed. These are automated and cannot be opted out of.

10.2. You can choose to receive periodic updates from LoanForCare as per your preference.

11. Content Usage

11. Users must not:

• Display, host, modify, upload, transmit, or distribute any content owned by others;
• Post content that is offensive, defamatory, obscene, or invasive of others’ privacy;
• Harm minors in any way;
• Threaten the integrity, unity, sovereignty, and security of India.

12. Intellectual Property Rights

12. All rights to the site’s content are held under Intellectual Property Rights (IPR). No content should be replicated in any manner.