Terms & Conditions – Loan Services
By applying for or availing of any loan product from Rig Samhita India Private Limited (“we,” “our,” “us”), you agree to the following terms and conditions. Please read them carefully.
1. Eligibility
Applicant must be an Indian resident or NRI meeting lender criteria.
Minimum age: 21 years; Maximum age: as per lender policy at loan maturity.
Must have a valid income source and ability to repay.
Satisfactory credit score and repayment history.
2. Loan Approval & Disbursement
- Loan approval is subject to verification of documents and eligibility.
- Submission of documents does not guarantee loan approval.
- Loan amount, tenure, and interest rate will be based on applicant’s eligibility, income, property value, and lender policies.
- Disbursement will take place only after successful verification and agreement execution.
3. Interest Rates & Charges
Interest rates are fixed or floating as per the loan agreement.
Processing fees, administrative charges, and other applicable costs will be communicated prior to loan sanction.
Late payment penalties and cheque bounce charges may apply.
4. Repayment Terms
- Borrower must repay the loan in EMIs as per the repayment schedule.
- Delayed or missed payments may affect credit score and attract penalties.
- Prepayment or foreclosure is subject to terms and charges (if applicable).
5. Borrower’s Obligations
Provide true, complete, and updated information during the loan process.
Notify us immediately of any change in contact details, employment, or financial status.
Use loan proceeds only for the declared purpose.
6. Rights of the Lender
- Right to recall the loan in case of default, misrepresentation, or breach of terms.
- Right to report repayment history to credit bureaus.
- Right to modify terms, interest rates, or charges in accordance with applicable laws and agreement.
7. Confidentiality & Data Use
- All borrower information will be kept confidential and used only for loan processing, as per our Privacy Policy.
8. Governing Law & Jurisdiction
All disputes will be subject to the laws of India.
Jurisdiction will lie exclusively with the courts of [Insert City/State].
9. Acceptance
By signing the loan application form or using our services, you confirm that you have read, understood, and agreed to these Terms & Conditions.
If you want, I can also make a visually simplified, bullet-point version for your loan brochures and website so it’s easy for customers to understand without legal jargon. That way, you’ll have both a formal legal version and a user-friendly version.