Loan terms and conditions

${lender}

Corporate Identification Number (CIN):${cin}

Non-Banking Financial Company (NBFC) License No. ${licenseNo}

These General Terms and Conditions are formulated in compliance with the applicable laws and regulations of the Republic of India.

Definitions

For the purposes of this Agreement, the terms and expressions set forth below shall carry the following meanings:

Borrower — refers to a Loan Applicant whose application for a loan has been approved and accepted by the Lender.

Borrower's Obligations — encompasses the repayment of the outstanding principal of the Loan, accrued interest thereon, and any other fees, costs, charges, expenses (including processing fees), and all other amounts whatsoever that arise from or are incidental to the Loan, which the Borrower is required to pay to the Lender on or before the Maturity Date, in accordance with the Terms and Conditions herein, the Promissory Note, and any other associated documents.

Calendar Day — any day of the year, including weekends and public holidays observed in India, during which the Lender conducts its normal business operations.

Loan Agreement — the contractual arrangement entered into between the Lender and the Borrower that governs the Loan, along with any supplementary agreements that the Parties may execute from time to time. The Loan Agreement comprises the General Terms and Conditions set out herein, the Promissory Note, the Loan Decision, and all appendices and supplementary documents thereto.

Disclosure Statement — the statement provided by the Lender to the Borrower prior to the Borrower's acceptance of the Loan, which discloses the total financed amount, the finance charge, all costs associated with the Loan, and all other items required under the Truth in Lending Act.

Distance Service — any communication method utilizing telematic networks, facilitated by the Lender, enabling the Borrower to submit a Loan Application and receive a Loan Decision. The Distance Service shall be understood to mean the Website: ${domain} or any other comparable means or facility that the Lender makes available to the Loan Applicant for the purposes described in this Section.

General Terms and Conditions — the terms and conditions that govern the Loan as contained in this document, the Loan Agreement consisting of the Promissory Note, the Disclosure Statement of Loan/Credit Transaction, the General Terms and Conditions of the Loan, together with all other agreements or documents executed by the Lender and/or the Borrower that govern the Borrower's loan relationship with the Lender.

· Lender - ${lender}, whose principal address is ${address}

Loan — the financial arrangement between the Lender and the Borrower, governed by these General Conditions, the Promissory Note, and all other documents forming an integral part of the Loan Agreement, pursuant to which the Lender extends a personal loan to the Borrower via the Distance Service or at the Lender's branch.

Loan Applicant — a natural person who submits a Loan Application, who must be of Filipino nationality, above eighteen (18) years of age at the time the Loan Application is filed, possessing full legal capacity to contract and enter into the Loan, and having a permanent residential address in India.

Loan Application — the declaration of intent made by the Loan Applicant through the Distance Service or at the Lender's branch, requesting a Loan in accordance with these General Conditions, the Promissory Note, and all other documents forming an integral part of the Loan Agreement. The Loan Application becomes effective on the date it is submitted to the Lender for evaluation and shall be subject to the Lender's internal policies and procedures. Upon approval, the Application funds shall be credited to the Borrower's Personal Account on the Lender's website within one (1) to three (3) calendar days from the Lender's receipt of the Borrower's acceptance of the Loan Decision.

Loan Decision — the final and irrevocable determination made by the Lender to either grant or deny the Loan Application in accordance with these General Conditions, the Promissory Note, and all other documents forming an integral part of the Loan Agreement. It shall specify the Loan Amount and the Maturity Date, and shall be issued by the Lender to the Borrower no later than one (1) day from the date the Loan Application is received. The Loan Decision may be communicated to the Borrower via SMS and/or direct phone call, depending on the method designated by the Borrower in the Loan Application or at the Lender's discretion if the specified method is unavailable.

Loan Term — the duration specified under Article 4 of these General Conditions.

Maturity Date — the final day of the Loan Term (as specified under Section 4) on which the Loan Amount, accrued interest, and all other fees and charges become due and payable.

Party — refers to the Loan Applicant, the Lender, or the Borrower, individually. The term "Parties" collectively refers to the Lender and the Loan Applicant or the Borrower.

Personal Account — the user account established by the Borrower on the Lender's website.

Prolongation Service — the option made available to the Borrower to extend the Loan Term upon payment of the applicable fee.

Promissory Note — the corresponding Promissory Note containing the Borrower's unconditional promise to repay the Loan, setting forth the terms of the Loan pursuant to the Loan Decision, along with other terms and conditions of the Loan, which shall form an integral part of the Loan Agreement. It shall be made available to the Loan Applicant upon approval of the Loan Application. The Promissory Note shall be confirmed by the Loan Applicant via SMS and/or direct phone call (for applications submitted and processed via the Website) or by handwritten signature (for applications submitted and processed at the Lender's branch). The Promissory Note, together with the Disclosure Statement provided in accordance with the Truth in Lending Act, will be sent to the Borrower's email address and made accessible through the Borrower's Personal Account on the Lender's website.

· Website - the Lender's website located at (${domain}).

Loan Purpose.

The Loan extended by the Lender is intended solely for lawful and legitimate purposes. The Borrower shall use the loan proceeds exclusively for personal purposes.

Loan Amount.

The Lender agrees to extend a loan to the Borrower, and the Borrower agrees to accept the same from the Lender, in the full amount of the Loan, as specified in the Loan Decision and reflected in the Promissory Note and the Borrower's Personal Account.

Loan Term.

The Loan Term refers to the period during which the Borrower is required to repay the principal amount of the Loan in full, along with the corresponding interest and all other charges and fees as indicated in the Disclosure Statement. The Loan Term may range from ninety-one (91) calendar days to three hundred and sixty-five (365) calendar days, depending on the term approved under the Loan Decision, as specified in the Promissory Note.

Prolongation

If the Borrower elects to use the Prolongation Service, the Loan shall be extended for an equivalent period, subject to the General Terms and Conditions set forth herein, the Promissory Note, and all other documents forming an integral part of the Loan Agreement. This service may be utilized during, prior to, or after the Maturity Date, provided that all accrued interest and default interest (if applicable) have been paid in full.

Access to the Prolongation Service shall be granted provided that all outstanding interest and late payment penalties and fees (if any) have been settled. The amount required for the Prolongation Service for the current day shall be displayed in the Borrower's Personal Account on the Lender's website.

Interest

The Borrower shall be liable to the Lender for interest on the Loan until the full outstanding amount has been repaid. Such interest shall be calculated and paid in accordance with these General Terms and Conditions.

Interest on the Loan accrues on a daily basis until the Maturity Date. The applicable interest rate is determined on an individual basis and is specified in the Promissory Note and the Disclosure Statement.

Late Payment Penalties and Fees

In the event of any default in payment after the Maturity Date of any amount made available under the Loan, the Lender shall be entitled to require the Borrower to pay, in addition to the outstanding amount, a default penalty of Rs.1,000 (for new clients) and Rs.800 (for repeat clients), charged as a one-time fee, together with interest at the rate of 5% of the outstanding amount per day from the first (1st) day of delay up to the thirtieth (30th) day of delay, 4% of the outstanding amount from the thirty-first (31st) day of delay until the ninetieth (90th) day of delay, and 2% of the outstanding amount from the ninety-first (91st) day of delay until the date of full repayment of the Loan.

Any amounts received by the Lender from the Borrower after the Maturity Date shall be applied in the following order:

— Any and all charges permitted by law;

— Enforcement expenses;

— Late payment penalties and fees;

— All Loan-related amounts in the following sequence: fees, interest amount, principal amount.

Conditions Precedent to the Release of Loan Proceeds

The Loan proceeds shall be disbursed only after the following conditions have been satisfied to the Lender's satisfaction:

— The Loan Application has been completed, signed via SMS, and submitted to the Lender;

— The Borrower's bank account details have been provided;

— The Borrower's photo along with identity document has been uploaded to the Borrower's Personal Account;

— The Loan Decision has been communicated to, and confirmed and accepted by, the Borrower via SMS confirmation and/or verbal confirmation through a direct call;

— The Promissory Note has been confirmed and accepted by the Borrower;

— Once the Loan Application submitted by the Borrower is approved by the Lender, the Borrower shall not be entitled to cancel the Loan or refuse to accept the Loan proceeds, except in cases where such refusal entails the application of charges for cancellation, refusal, or prepayment as may be stipulated by the Lender. The Borrower acknowledges that the Lender retains the right to approve or reject the cancellation of the Loan at the Lender's sole discretion.

— The Lender shall not bear responsibility for the release of any Loan proceeds to an incorrect or other bank account resulting from data entry errors made by the Borrower.

— The Lender shall not be liable for any delays or issues arising from the release of Loan proceeds to third parties pursuant to written directions and instructions from the Borrower.

Full/Partial and Early Loan Repayment

— The Borrower is obligated to pay the full Loan amount plus accrued interest on or before the Maturity Date.
— The Borrower may prepay the whole or any portion of the Loan amount, provided that at least half of the Loan Term has elapsed, and in no event earlier than seven (07) calendar days from the date the proceeds are disbursed to the Borrower.
— Should the Borrower elect to repay the Loan in full prior to the timeframe specified in Clause 9.2, the Borrower must pay the full Loan amount plus accrued interest up to the Maturity Date, calculated at the rate specified in the Promissory Note.
— The amount required for full repayment of the Loan for the current day shall be accessible to the Borrower through the Personal Account on the Lender's website.
— Information regarding all available methods and channels for Loan repayment shall be published and made accessible to the Borrower through the Personal Account on the Lender's website.

Representations and Undertakings

The Borrower hereby makes the following representations and warranties to the Lender on a continuing basis:
— The obligations expressed or to be assumed by the Borrower under this Loan Agreement, the Promissory Note, and any associated documents constitute legal, valid, binding, and enforceable obligations;
— The execution and performance by the Borrower of, and the transactions contemplated under, this Loan Agreement, the Promissory Note, and any associated documents do not and shall not conflict with (i) any applicable law or regulation binding upon the Borrower; or (ii) any agreement or instrument binding upon the Borrower;
— The Borrower is not a Politically-Exposed Person (PEP) as defined under the Anti-Money Laundering Act of 2001, as amended;
— No event of default is continuing or may reasonably be expected to result from the disbursement of the Loan;
— The Borrower has disclosed to the Lender all information (whether financial or otherwise) relating to the Borrower and all other relevant parties that is material to the Lender in view of the provisions of this Loan Agreement, the Promissory Note, and other associated documents, and such information is true, complete, and accurate in all material respects as of the date it was provided and is not misleading in any respect;
— The Borrower has disclosed to the Lender all information relating to the Borrower that is material to the Lender in view of the provisions of the Promissory Note and other associated documents, and such information is true, complete, and accurate in all material respects as of the date it was provided and is not misleading in any respect. The Borrower hereby authorizes the Lender to request and obtain data from third party(ies) to verify any information the Borrower has provided to the Lender in connection with this Loan Application;
— The Borrower has read, understood, and agreed to comply with the terms and conditions of the Loan Agreement, the Promissory Note, and other associated documents. The Borrower accepts and agrees to be bound by the Loan Agreement, the Promissory Note, and other documents, including any amendments thereto as an integral part thereof, which the Borrower acknowledges are available for reading or downloading on the Lender's website: ${domain} and/or may be notified by the Lender to the Borrower through various communication channels as the Lender deems appropriate;
— The Borrower acknowledges and understands his/her obligations regarding the full, complete, and timely payment of his/her loan obligations as stipulated in the Loan Agreement and the Promissory Note;
— The Borrower acknowledges that the Lender has the absolute discretion to accept or reject the Loan Application for valid cause, and that the Loan Application and its supporting documents shall become part of the Lender's records and shall not be returned to the Borrower;
— The Borrower acknowledges that the Loan Application should be regarded as an offer only. Official approval shall be determined based on the Lender's appraisal and approval in accordance with the Lender's policies from time to time. The Borrower voluntarily agrees to the Lender's decisions and shall not file any complaints or seek redress against the Lender on these matters;
— The Borrower unconditionally acknowledges that, upon disbursement of the approved loan amount by the Lender as stipulated, the Borrower is truly and lawfully indebted to the Lender for the said amount;
The Borrower covenants with the Lender that, during the Loan Term:
— The Borrower shall apply the loan proceeds solely for personal use, such as education, hospitalization, emergencies, travel, household needs, and other personal consumption of a similar nature;
— The Borrower shall comply in all respects with all applicable laws in connection with the performance of the Borrower's obligations under this Loan Agreement, the Promissory Note, and other associated documents;
— The Borrower shall obtain and maintain in full force and effect any authorization, consent, or approval required to enable the Borrower to perform the obligations under this Loan Agreement, the Promissory Note, and other associated documents, and to ensure the legality, validity, enforceability, or admissibility in evidence of this Loan Agreement, the Promissory Note, and other associated documents;
— The Borrower shall promptly notify the Lender in writing of any potential or actual Event of Default (if specified in the Loan Agreement and/or the Promissory Note) and any event or circumstance that constitutes a default under any other agreement binding upon the Borrower (and, in each case, the steps, if any, being taken to remedy it) immediately upon becoming aware of its occurrence;
— The Borrower shall provide prior written notice to the Lender of any change in the Borrower's name, date of birth, or residential address within three (3) calendar days of such changes;
— The Borrower shall notify the Lender of any change in the Borrower's employment, business, or profession. In the event the Borrower is self-employed, the Borrower undertakes to keep the Lender informed about his/her personal financial conditions on a periodic basis as requested by the Lender.

Default

Events of Default

The following shall constitute Events of Default:
— Failure by the Borrower to comply with or perform any of the terms and conditions of the Loan Agreement, the Promissory Note, or any other agreement between the Borrower and the Lender;
— The Borrower fails to pay when due and payable any principal amounts, interest, costs, or other amounts which the Borrower is obligated to pay the Lender under the Loan Agreement and the Promissory Note;
— Any representation or warranty made by the Borrower herein or otherwise in connection with the Loan proves to have been incorrect or misleading as of the time it was made or deemed to have been made, regardless of whether the Lender was in fact prejudiced by such untruthfulness and/or non-fulfillment;
— The Borrower voluntarily suspends or ceases his/her personal financial activities, becomes insolvent, is unable to pay his/her debts when they become due, or commits or permits any act of bankruptcy or insolvency;
— Any final judgment or decree for a substantial sum of money, damages, fine, or penalty is entered against the Borrower by a court of competent jurisdiction and is not paid, discharged, or fully bonded within ten (10) days after the date when payment of such judgment or decree is due under applicable laws;
— The Borrower dies or is convicted of a criminal offense with final judgment carrying a penalty of civil interdiction affecting the Borrower, or in any of the cases covered by Article 1198 of the Civil Code of India;
— There occurs a material change in the financial circumstances or condition of the Borrower from the time of Loan approval, which, in the Lender's reasonable opinion, would adversely affect the Borrower's ability to perform the obligations under the Loan Agreement and the Promissory Note.

Consequences of Default

Upon the occurrence of an Event of Default:
— The Lender shall have the right, at its sole discretion, to deem the full amount of the Loan as immediately due and demandable, and require the Borrower to make full and immediate payment thereof;
— If the default results from the Borrower's failure to timely pay the Loan, the Late Payment Penalties and Fees prescribed under Article 7 shall apply;
— The Lender shall be entitled to all remedies provided in the Promissory Note and under applicable law for the purpose of enforcing its claims against the Borrower.
To the extent permitted under Philippine law, the Borrower agrees to waive any notice or formality intended to enable the Lender to exercise its rights arising from the occurrence of an Event of Default. The failure or delay in exercising any right, option, power, or privilege hereunder shall not constitute a waiver of the Lender's right to exercise the same, unless such waiver is given in writing by the Lender, and then only to the extent specifically set forth in such writing.

Indemnity

The Borrower shall indemnify the Lender against any cost, loss, or liability incurred by the Lender as a result of:
— The occurrence of any Event of Default;
— Any information provided or confirmed by the Borrower being or alleged to be misleading and/or deceptive in any respect;
— Any inquiry, investigation, subpoena (or similar order or litigation with respect to the Borrower) or with respect to the transactions contemplated or financed under this Loan Agreement and the Promissory Note.

Disclosure of Information

The Borrower hereby expressly authorizes the Lender to transfer and disclose to (i) government authorities; (ii) any party/person proposing or considering tendering any payment towards or purchasing the indebtedness under the Loan; (iii) its auditors, lawyers, or any other debt collection agents; (v) credit reporting agencies; (vi) insurance companies, agents, contractors, or third party service providers involved in the provision of products and services to or by the Lender and the holding company, head office, other branches, subsidiaries, and related companies of the Lender; or (vii) for the provision of or cross-selling of products and services, any information relating to the Borrower's affairs or account in respect of the Loan, this Loan Agreement, and the Promissory Note, at any time and to such extent as the Lender may, at its absolute discretion, deem expedient or necessary.
The Borrower hereby agrees that the aforementioned information may be used, encrypted, transmitted, and stored by the Lender and its holding company, head office, other branches, subsidiaries, and related companies, and/or may be exchanged to or with all such persons as the Lender considers necessary to the extent permitted by Philippine laws. The aforementioned actions shall be without liability to the Borrower. The Borrower expressly consents to such actions and declares that no further consent from the Borrower is necessary or required in relation thereto.

Notification Regarding R.A. No. 9510. Pursuant to Republic Act (R.A.) No. 9510 and its Implementing Rules and Regulations (IRR), which created the Credit Information Corporation (CIC), we are mandated to submit your basic credit data (as defined in R.A. No. 9510 and its IRR), as well as any regular updates or corrections thereto, to the CIC for consolidation and disclosure as may be authorized by the CIC and other duly accredited credit reporting agencies, for the purpose of establishing your creditworthiness.
In the event the Borrower fails to fully, correctly, or timely pay the loan obligation, in addition to the debt recovery measures specified herein or in accordance with Philippine laws, the Lender shall be entitled to provide information regarding such failure to third parties, including but not limited to collection agencies, for the purpose of collecting the loan obligation.
The Borrower agrees that the Lender, directly or through its Partners, may collect, retrieve, process, use, and store his/her personal data, including name, age, photographs, fingerprints, other biometric data (e.g., facial recognition and voice recognition), mobile number(s), mobile phone usage data, employment details, income, financial data, financial profile, credit standing, loan payment history, and other information required in the application form, for the purpose of reviewing and processing the Borrower's loan application. The Borrower consents to the collection of his/her personal data from the Borrower himself/herself, or from other personal information controllers, including but not limited to telecommunications companies (e.g., Globe, PLDT, Smart, Sun Cellular), for credit scoring purposes. The Borrower's personal data, such as mobile number, email address, and address, will be shared with a credit scoring service provider for credit investigation, credit scoring, data analytics, and data profiling, including regular updating of the Borrower's credit score. The personal data obtained may also be used for direct marketing of products and services of the Lender's Partners. Throughout the processing of the Borrower's personal data, his/her rights under the Data Privacy Act of 2012, including (1) the right to be informed, (2) the right to object, (3) the right to access, (4) the right to rectification, (5) the right to erasure or blocking, and (6) the right to damages, shall be upheld. Entities to whom the Lender shares the Borrower's personal data shall also respect the same rights.

Set-off

The Lender may, at its discretion and without prior consent from the Borrower, set off or deduct any amount from any account of the Borrower held at the Lender against any obligation due from the Borrower under this Loan Agreement, the Promissory Note, and other associated documents, regardless of the place of payment, booking branch, or currency of either obligation. Any set-off of a fixed deposit by the Lender shall be deemed a premature withdrawal by the Borrower. If the currency of the obligation differs from the currencies of the accounts, the Lender may convert the currencies of the account into the currency of the obligation by reference to the prevailing market rate of exchange in its usual course of business.

Review

The Loan is subject to review by the Lender at any time and is also subject to the Lender's overriding right of withdrawal and repayment on demand, which the Lender reserves the right to exercise at any time.
The Lender shall have the right to review and revise the Terms and Conditions set forth herein at any time at its sole discretion.

Notices

· Notice to the Borrower

A notice given to the Borrower in connection with this Loan Agreement and/or the Promissory Note may be delivered by hand, sent by prepaid ordinary post, sent by email (electronic mail), sent by facsimile to the facsimile number of the addressee, or sent by text message to the mobile number of the addressee as specified in the Loan Application form and/or the Promissory Note. A notice given to the Borrower shall be treated as having been given and received:
— If delivered by hand, on the day of delivery if it is a Calendar Day, otherwise on the next Business Day;
— If sent by prepaid mail, on the second Business Day after posting;
— If sent by email and no failure notice is received by the sender, one hour after the time of sending;
— If transmitted by facsimile and a correct and complete transmission report is received, at the time of transmission recorded on that transmission report;
— If sent by text message and no failure notice is received by the sender, at the time of sending.

Notice to the Lender

Notices, demands, or other communications shall be addressed to the Lender at its place of business and may be delivered personally, by leaving it at such address, by facsimile transmission or telex, by email, or by phone, and shall be deemed to have been delivered to the Lender on the day of actual receipt.

Entire Agreement

This Agreement constitutes the entire understanding between the Parties and supersedes all prior agreements, understandings, representations, warranties, and arrangements of any nature whatsoever, whether written or oral, among the Parties with respect to the subject matter of this Agreement.

Assignment and Transfer

Notwithstanding any other provisions of this Loan Agreement and/or the Promissory Note, the Lender may at any time: (i) assign or transfer its rights and obligations; or (ii) create security in or over any and all of its rights or obligations under this Loan Agreement and the Promissory Note, to any person upon provision of seven (7) Business Days' written notice to the Borrower. The Borrower is not permitted to assign or transfer any of the Borrower's rights or obligations under this Loan Agreement and the Promissory Note without the prior written consent of the Lender.

Waiver

The delay or failure of the Lender to exercise any of its rights, whether under this Loan Agreement, the Promissory Note, or otherwise, shall not be construed or deemed as a waiver of the Lender's rights in this regard.

Language and Governing Law

This Loan Agreement and the Promissory Note are governed by the laws of India. The competent courts of India shall have jurisdiction to settle any dispute arising out of or in connection with this Loan Agreement and the Promissory Note (including all disputes regarding the existence, validity, or termination thereof).

Term of the Loan Agreement

Unless terminated by the Lender, this Loan Agreement shall take effect from the date the funds are remitted to the Borrower in the manner specified in the Promissory Note, and shall remain in force and effect between the Parties for such time as the provisions specified herein are required to remain operative, unless otherwise agreed by the Parties.