terms and Conditions
Terms and Conditions
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This document is an electronic record in terms of the Information Technology Act, 2000 (as may be amended, modified, re-enacted, consolidated or replaced from time to time) and rules thereunder pertaining to electronic records as applicable and amended from time to time, and is published in accordance with the provisions of Rule 3 of the Information Technology (Intermediaries Guidelines and Digital Media Ethics Code) Rules, 2021, which mandates SWIPELOAN (as defined below) as an intermediary to publish the terms and conditions and other rules and regulations for access or usage of the Platform (as defined below).
This document is generated by a computer system and does not require any physical or electronic signature. We reserve the right, at Our sole discretion, to change, modify, add, or remove portions of these Terms and applicable Policies, at any time without any prior written notice to You.
You acknowledge and accept that these Terms and Policies may be amended from time to time and such amendments will become effective and binding on You from the date of publication, announcement, or communication of the amendment on the Platform. Your continued use of the Platform and its Services after such notice confirms Your consent to and acceptance of such amendments.
It is Your responsibility to review these Terms and any Platform Policies periodically for updates or changes. Therefore, You are encouraged to revisit the Platform to remain updated regarding any amendments.1. Introduction
Welcome to the SWIPELOAN platform. The use of the terms “SWIPELOAN”, “We”, “Us”, and “Our” in these Terms and Conditions of Use (“Terms”) shall refer to KGIL Fintech Solutions Private Limited, a company duly organized under the laws of India, which owns and is engaged in the business of operating the platform and offering digital lending solutions through its website located at www.swipeloan.in (“Website”) and mobile application(s) under the name “SWIPELOAN” (collectively, the “Platform”), where Users (as defined below) can register an Account (as defined below) to avail Services (as defined below).
Any titles or headings inserted in these Terms are for convenience only and shall not affect the interpretation of the provisions of the Terms.
Users acknowledge and understand that SWIPELOAN is the sole owner of the Platform, and these Terms govern Your access and use of all facilities and services that SWIPELOAN owns, controls and makes available, as may be applicable, through SWIPELOAN’s online Platform and any other applications, tools, products, and services that SWIPELOAN may provide from time to time on the Platform (collectively, “Services” as elaborated hereunder).
By visiting or accessing the Platform, registering and creating an Account on the Platform, using and availing the Services available on the Platform, providing any information on the Platform, and otherwise making use of the Platform, whether impliedly or expressly, You acknowledge and accept these Terms and enter into a binding contract with SWIPELOAN.
SWIPELOAN encourages and advises all Users to read and understand these Terms prior to making use of the Platform and the Services. Your use of and access to the Platform and Services is subject to these Terms.
Any usage of the Platform or Services in any manner whatsoever shall be governed by these Terms read with the Privacy Policy published on the Platform (“Privacy Policy”) or any other policy which may be published on the Platform (collectively, “Policies”).
Users shall be subject to and bound by the same, regardless of how the Users, or anyone on the User’s behalf, has accessed or used the Platform or Services.
If the User does not want to be bound by the Terms, they must not retain, access and/or use the Platform or Services in any manner whatsoever. Anything done or caused to be done, whether expressly or impliedly, in contravention of these Terms may render the User liable for legal action.
2. Definitions
For the purposes of these Terms, in addition to any words, expressions or terms expressly defined in the introduction and in the text of these Terms, any references to the following terms, words and expressions, wherever used in these Terms, unless repugnant to the meaning or context thereof, shall have the following meanings:
- 2.1 “Applicable Law(s)” shall mean the applicable laws, statutes, rules, regulations, ordinances, guidelines, by-laws, or subordinate legislation of India, as well as all amendments to the same which come into force from time to time.
- 2.2 “Platform”shall mean and include the Website, Application(s), and/or any other digital platforms of SWIPELOAN on or through which the Services are made available by SWIPELOAN.
- 2.3 “Business Partner(s)” shall mean any natural or legal person(s) with which SWIPELOAN has a business arrangement or collaboration under a definitive agreement in relation to the functioning of the Platform and its Services, such as for facilitating, providing and/or delivering certain functionalities on the Platform, or features or aspects of any Services provided to Users on the Platform.
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2.4 “Minor” shall mean a child or person below the age of majority in the legal jurisdiction in which he/she is based, who is not eligible to create or register an Account on the Platform and/or to avail any of the Services.
For avoidance of doubt, persons less than eighteen years of age in India shall comprise “Minors” for the purpose of the Policies.
- 2.5 “User(s)”, “You”, “Your”, “Yourself” shall mean an individual who is resident in India, who has signed up or registered on the Platform and/or is availing the Services provided by the Platform and/or has access to or uses the features and functionalities of the Platform.
- 2.6 “User Information” shall mean information relating to a User and the User’s Account, including personal information and/or other data and information elaborated in Our Privacy Policy.
- 2.7 “Services” refer to the services, including resources, tools, functionalities, and other facilities, which are made available to Users through the Platform by SWIPELOAN upon registration of an Account on the Platform by a User.
For reference, SWIPELOAN provides Services and functionalities on the Platform through competent and qualified Business Partners, which include qualified lending partners such as registered NBFCs/Non-Banking Financial Companies (NBFCs) (“Lending Partners”) as well as credit assessment partners, payment gateway partners, billing partners, customer support partners, IVR and information technology vendors, etc.
Such User may, in connection with the Platform and the Services, access, avail, share, transact, view, display, download or upload any information on the Platform and shall include the person(s) referred to under Clause 1 above.
Subject to Our Privacy Policy, User Information may be required to be provided by Users to SWIPELOAN at the time of registering an Account and/or subsequent to the time of registration.
Such User Information includes any User-related information for which a written request may be communicated to the User by SWIPELOAN at any time in relation to the User’s use of the Platform.
3. Acceptance of Terms and General Conditions
3.1 By using the Platform in any manner, such as through registering an Account, accessing the Website or Application(s), and/or using or accessing any of the Services, You declare that You have read, understood, and accepted the provisions of these Terms in full and hereby agree to comply with, and be bound by, the Terms.
3.2 To be eligible for registration on the Platform, Users must be of legal age to form a binding contract and should not be barred from receiving Services under the laws of the applicable jurisdictions in which the User resides. By registering on the Platform, You represent that You are a person of legal age to form a binding contract and are not a person barred from receiving Services.
3.3 We reserve the right, at Our sole discretion, to change, modify, add, or remove portions of these Terms and applicable Policies at any time without any prior written notice to You.
3.4 Feedback. Please contact SWIPELOAN by writing to us at info@swipeloan.in in case You have any questions or doubts pertaining to Our Services and/or the Platform, or if You wish to share Your suggestions, improvements, experience, comments and requests as regards the same (collectively, “Feedback”).SWIPELOAN welcomes any Feedback the Users might have on the Platform and Services provided. You acknowledge and accept that the Feedback You may provide regarding SWIPELOAN and/or the Services is entirely voluntary and SWIPELOAN will be free to use such Feedback as SWIPELOAN sees fit and without any obligation to You.
4. Eligibility and Use of Services
4.1 Account Registration
To enable Your access and use of the Services available on the Platform, You are obligated to register on the Platform using Your contact details, including Your mobile number and/or e-mail address or both (the “User ID” or “Credentials”), by following the registration process of the Platform and providing Us with the User Information in accordance with the Policies.
4.2 Loan Application
You may submit a loan application using the processes facilitated on the Platform. As part of the same, You will be required to fill out the virtual application form(s) maintained by Us on the Platform and submit relevant User Information, including Your financial and employment information, in accordance with the Privacy Policy.
4.3 Eligibility Check
SWIPELOAN shall preliminarily determine Your eligibility for availing the applied-for loan, subject to verification and authentication of Your application and User Information through assessment of Your credit profile as well as through appropriate KYC and other verification processes.
4.4 Loan Offer
If Your loan application meets the requisite eligibility criteria, a custom loan offer may be generated for You through Our Lending Partner(s), which SWIPELOAN may communicate to You for review and acceptance.
4.5 Loan Approval
Once the User duly assents to the applicable Loan Policies, SWIPELOAN will forward the User’s loan application to the concerned Lending Partner, which will process the same for final approval.
4.6 Loan Disbursement and Data Transfer
Once a loan is sanctioned in Your name by the concerned Lending Partner, You may be required to conclude an agreement documenting the terms of the specific loan transaction as may be applicable in Your case.
4.7 Loan Repayment
It is clarified that repayment of the loan disbursed by Our Lending Partner will take place as per the Lending Partner’s predefined EMI schedule, subject to their Loan Policies and the Loan Agreement concluded with the User.
4.8 User Information
Your User Information, including Your User ID, as made available to Us, is treated as Your primary identification on the Platform. It is reiterated that it is Your responsibility to ensure that the User Information provided on the Platform is valid and remains updated at all times.
4.9 Payment
SWIPELOAN does not charge any fee for registration of an Account on the Platform. However, You may be required to make payment for and in connection with certain Services and facilities We offer on the Platform through Our Business Partners.
4.10 GST on Subscription Plans
In addition to the subscription fees applicable for certain Services and facilities offered on the Platform, applicable Goods and Services Tax (GST) shall be charged as per the prevailing laws and regulations.
4.11 Refund Policy
Users are advised to review these Terms prior to making payment on the Platform. We do not allow withdrawals or cancellations of payments made to Us on the Platform and do not issue refunds except in the event of Our direct failure in rendering any Services purchased by You from Us.
4.12 Third-Party Software
The Platform may contain third-party APIs and other software that require and/or maintain additional terms and conditions separate from the Terms and Policies.
4.13 Third-Party Links
The Platform may include external links to third-party platforms, which are not under Our control and are governed by the terms and conditions of such third parties.
4.14 By using the Platform in any manner, You represent and warrant to SWIPELOAN that You are not a Minor and are of legal age under the Applicable Law and have the legal right, capacity, and power to accept the provisions of these Terms.
5. User Obligations and Responsibilities
5.1 Each User acknowledges and accepts that if the relevant User provides any information that is untrue, inaccurate, not current or incomplete as part of the User Information, We have the right, at Our sole discretion, to request You to promptly update or correct such User Information and/or immediately and indefinitely suspend Your Account.
5.2 You are solely responsible for the security of Your Account and ensuring that Your Credentials are not compromised, shared with anyone, or mishandled.
5.3 You agree that You shall not upload, share, or otherwise transmit any information or content on the Platform and/or through use of Our Services that belongs to another person and to which the User does not have any right under the Applicable Law.
5.4 We do not publish and We do not permit Our Users to publish any unlawful information or content which is prohibited under these Terms or Policies or any law for the time being in force.
6. General Disclaimers
6.1 SWIPELOAN reserves the right to add, amend, or discontinue, temporarily or permanently, any of its Services or any part thereof offered through the Platform or the design and functionality of the Platform.
6.2 You acknowledge and accept that despite SWIPELOAN’s efforts, the Platform may be unavailable from time to time for any reason, including, without limitation, routine maintenance.
6.3 You agree and acknowledge that the Platform and Services are licensed and/or provided hereunder on an “as is” and “as available” basis, without any warranties of any kind, either express or implied.
6.4 You remain solely responsible for the User Information and content that You upload on Our Platform using Your Account.
6.5 SWIPELOAN solely acts as a facilitator between Users and its Business Partners, including NBFCs and other Lending Partners, and is not a lending institution.
7. Suspension and Cancellation of User Account
7.1 SWIPELOAN reserves the right to immediately disable, terminate, or cancel Your Account, or suspend Your access to the Platform and/or Services at any time, with or without notice to You, in its sole and absolute discretion.
7.2 You may opt to deactivate, cancel, or terminate Your Account by submitting a deactivation request to SWIPELOAN in accordance with the Account deactivation process facilitated by SWIPELOAN on the Platform.
7.3 You acknowledge and accept that upon termination of Your Account for any reason, Your agreement with Us shall be terminated, and You shall no longer be entitled to access Your Account.
8. Marketing and Promotion
SWIPELOAN may send You promotional or marketing information from time to time, including information regarding new Services and additional features added to the Platform, special offers for Users, and other information which may be of interest to You.
If, however, You do not wish to receive such information, You may opt out of receiving promotional communications at any time by updating Your preferences in the “Notification Settings” of Your Account or by clicking the “unsubscribe” link in any promotional emails received from SWIPELOAN.
9. Intellectual Property
9.1 Unless expressly provided or disclaimed otherwise in these Terms or any applicable Policies, all material and content on the Platform, including texts, software, code, scripts, graphics, photographs, sounds, music, audio, videos, interactive content, online databases, copyright, patents, trademarks, trade names, product names, service marks, logos and other Intellectual Property are owned by or licensed to SWIPELOAN.
9.2 You shall not use any device, program, algorithm or methodology, or any manual or digital process, to access, acquire, copy or monitor any portion of the Platform or any content.
9.3 All rights and interests in Intellectual Property comprised in the Platform and Services are and will remain the exclusive property of SWIPELOAN and its licensors.
9.4 By submitting any content on the Platform, You agree and acknowledge that You grant Us a non-exclusive, worldwide, royalty-free license to use, display, modify, and distribute such content in connection with the Services, subject to the Terms.
10. Indemnification
10.1 To the extent permitted by the Applicable Law, SWIPELOAN shall not be liable to You for any manner of damages or losses to You, or in relation to any person(s) or property, including special, incidental, indirect, punitive, or consequential damages or losses.
10.2 You agree to indemnify, defend and hold harmless SWIPELOAN from and against any claims, proceedings, loss, damage, liability, cost, demand or expense arising out of Your access to or use of the Platform and Services.
10.3 You hereby agree and acknowledge that SWIPELOAN shall not be responsible for any actions taken by any third party using the Platform.
11. Dispute Resolution
The courts of competent jurisdiction at Pune, India (“Court(s)”) shall have exclusive jurisdiction to determine any and all matters, claims or disputes, whether contractual or non-contractual, arising out of or in connection with the Terms, Policies, the Platform, and Services provided by Us.
12. General
12.1 The Terms read along with applicable Policies, including the Privacy Policy, constitute the entire agreement between You and SWIPELOAN in respect of the subject matter herein.
12.2 Each of the provisions of the Terms is severable. If any provision of this Agreement or part of a provision is found by a governmental authority or court to be invalid, unenforceable, or illegal, that provision will be enforced to the maximum extent permissible under the Applicable Law.
12.3 You shall not, without the prior written consent of SWIPELOAN, assign the provisions of these Terms, in whole or in part.
12.4 No failure or delay by SWIPELOAN in exercising any right, power, or remedy under these Terms shall operate as a waiver thereof.
12.5 SWIPELOAN shall not be liable for damages for any delay or failure to perform its obligations hereunder, if such delay or failure is due to causes which are unforeseen or beyond its control.
12.6 Any provisions in the Terms or Policies which are expressly referred to as surviving or intended to survive by their nature will survive the termination of Your Account and relationship with SWIPELOAN for any reason.
12.7 You shall be responsible for payment of all fees, costs and charges associated with availing of Services from Us, and You agree to bear any and all applicable taxes, including but not limited to applicable duties, cess, etc.
13. Grievance Redressal
13.1 If any User or aggrieved person, including persons acting on their behalf, has any complaint or grievance in respect of any Services provided on the Platform or any breach of Our Terms, Privacy Policy or any other policy, the same can be addressed to Our designated Grievance Officer.
Grievance Officer:
- Name: Miss. Bhakti Aher
- E-mail Address: grievance@swipeloan.in
13.2 You can also address any communication in writing to us at our office located at the following address:
1205, Gera’s Imperium Hinjewadi, Phase-2, Pune-411057, Maharashtra, India.
13.3 Our Grievance Officer is the nodal contact to receive and acknowledge all complaints as well as receive and acknowledge any order, notice, or direction of a court, the government, or its agency.
You will receive an acknowledgement e-mail within 24 (twenty-four) hours upon receipt of Your Grievance by Our Grievance Officer.
Our Grievance Officer shall dispose of such complaint within a period of 15 (fifteen) days from the date of its receipt, provided that the Grievance Officer may request the complainant to furnish additional information for evidentiary and investigative purposes during this time.
13.4 Any Feedback and/or Grievance shall be deemed to be non-compensatory in nature. We reserve the right, in our sole discretion, to use such information in any manner as may be deemed appropriate by Us in accordance with Applicable Law.
