Terms & Conditions

INTRODUCTION

 These Terms & Conditions (“Terms”) constitute a legally binding agreement between ProLend (“Company”, “we”, “our”, or “us”) and the user (“User”, “you”, or “your”) governing your access to and use of the ProLend website.

By accessing or using the website, you confirm that you have read, understood, and agreed to be bound by these Terms, our Privacy Policy, and any other policies published on the website from time to time.

If you do not agree with these Terms, you must immediately discontinue use of the website and Services.

LOAN SERVICE PROVIDER DISCLOSURE

ProLend acts solely as a Loan Service Provider (“LSP”) facilitating loan-related services on behalf of RBI-registered Non-Banking Financial Company (“NBFC”) partners and/or regulated financial institutions.

ProLend is not a bank or NBFC and does not independently provide loans, make lending decisions, or undertake regulated lending activities unless specifically stated otherwise.

All loan approvals, sanctions, disbursals, repayments, and recovery activities are carried out by the respective lending partner in accordance with applicable laws and Reserve Bank of India (“RBI”) guidelines.

ELIGIBILITY

You may use the Platform only if:

(a) You are at least 18 years of age;
(b) You are legally competent to enter into a binding contract under applicable Indian laws;
(c) You are an Indian resident;
(d) You provide accurate and complete information during registration and onboarding.

ProLend reserves the right to suspend or terminate access if any information provided is false, misleading, or incomplete.

USER REGISTRATION

To access certain Services, Users may be required to create an account and provide personal, financial, and KYC-related information.

You are solely responsible for:
(a) maintaining confidentiality of your login credentials;
(b) all activities conducted through your account;
(c) ensuring information provided remains accurate and updated.

CONSENT TO DATA COLLECTION

By using the Platform, you expressly consent to the collection, processing, storage, verification, and sharing of your personal data for purposes including:

(a) KYC verification;
(b) credit assessment;
(c) fraud prevention;
(d) loan servicing;
(e) repayment facilitation;
(f) customer support;
(g) legal and regulatory compliance.

Data shall be processed in accordance with applicable laws including the Digital Personal Data Protection Act, 2023 and RBI Digital Lending Guidelines.

ProLend shall collect only such information as is reasonably necessary for providing Services.

LOAN APPLICATION PROCESS

Users may apply for loan products offered by lending partners through the Platform.

Submission of an application does not guarantee loan approval.

Loan approval, tenure, interest rate, APR, fees, repayment schedule, penalties, and sanction conditions shall be determined solely by the respective lending partner.

Prior to loan disbursal, Users shall receive a Key Fact Statement (“KFS”) and loan agreement containing applicable charges and repayment obligations.

USER OBLIGATIONS

You agree:
(a) not to misuse the Platform;
(b) not to submit false information;
(c) not to engage in unlawful or fraudulent activities;
(d) to repay dues in accordance with the loan agreement.

FAIR RECOVERY PRACTICES

ProLend and its lending partners shall follow fair, lawful, dignified, and non-coercive recovery practices in accordance with applicable RBI guidelines and applicable law.

INTELLECTUAL PROPERTY

All content, trademarks, logos, software, designs, and materials available on the Platform are the property of ProLend or its licensors and are protected under applicable intellectual property laws.

DISCLAIMER

The Platform and Services are provided on an “as is” and “as available” basis without warranties of any kind, except as required under applicable law.

ProLend does not guarantee loan approval, uninterrupted access, or error-free operation of the Platform.

LIMITATION OF LIABILITY

To the maximum extent permitted under applicable law, ProLend shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising from use of the Platform or Services.

THIRD-PARTY SERVICES

The Platform may contain links or integrations with third-party websites or services. ProLend shall not be responsible for third-party content, policies, or practices.

TERMINATION

ProLend reserves the right to suspend or terminate access to the Platform in case of violation of these Terms, suspected fraud, regulatory requirements, or misuse of Services.

GRIEVANCE REDRESSAL      

Users may contact the Grievance Redressal Officer through the contact details published on the Platform for complaints or grievances relating to the Services.

GOVERNING LAW AND JURISDICTION

These Terms shall be governed by the laws of India.

Subject to applicable law, courts located in New Delhi shall have jurisdiction over disputes arising from these Terms.

MODIFICATION OF TERMS

ProLend reserves the right to modify these Terms at any time. Updated Terms shall become effective upon publication on the Platform.