This Terms of Service agreement (the "Agreement") is entered into between PRAVIK FINANCE AND INVESTMENT COMPANY PRIVATE LIMITED, a Non-Banking Financial Company (NBFC) and a direct lender, operating the VeriLend mobile application (the "App"), and you ("User" or "You"). By accessing or using the App, you agree to comply with and be bound by the terms of this Agreement.
The VeriLend App provides loan products and financial services directly from PRAVIK FINANCE AND INVESTMENT COMPANY PRIVATE LIMITED. You may use the App to apply for loans, receive loan disbursements, and manage loan repayments, subject to the terms and conditions outlined in this Agreement.
In order to access the services, you must register for an account with VeriLend. You agree to provide accurate and complete information during the registration process and update your information as necessary to ensure its accuracy.
You agree not to use the App for any illegal or unauthorized purposes. You shall not:
Violate any laws or regulations.
Impersonate any person or entity, or misrepresent your affiliation with any person or entity.
Interfere with or disrupt the App or servers or networks connected to the App.
By using the App’s loan services, you authorize PRAVIK FINANCE AND INVESTMENT COMPANY PRIVATE LIMITED to process payments for the loan disbursement and repayment. You agree to pay all amounts due under the loan terms, including interest, fees, and any applicable taxes. The App provides payment processing details and options, including bank account transfers for repayments.
Content Submitted to the Service
By submitting any personal information or documents (including but not limited to your ID, tax information, or bank details) to the App, you grant PRAVIK FINANCE AND INVESTMENT COMPANY PRIVATE LIMITED the right to use, process, and store this content for the purposes of loan application processing, verification, and regulatory compliance.
Before using the VeriLend App, you must meet certain eligibility requirements to ensure you qualify for our loan services. These include:
Age: You must be at least 18 years old at the time of registration.
Nationality: You must be a citizen of India and a resident with a valid Indian address.
Creditworthiness: You need to meet certain credit and financial criteria, which we evaluate as part of the loan approval process.
Documentation: You must provide valid identification (Aadhaar, PAN card) and financial documents required for KYC (Know Your Customer) verification.
PRAVIK FINANCE AND INVESTMENT COMPANY PRIVATE LIMITED is a Non-Banking Financial Company (NBFC) and a direct lender, offering a variety of financial products through the VeriLend App. As an NBFC, we are authorized and regulated by the relevant authorities, ensuring compliance with financial regulations in India. Our core services include offering personal loans, loan disbursements, and managing repayment schedules.
The VeriLend App is designed to provide a seamless loan application process. Here’s how it works:
Users must create an account by providing necessary personal, financial, and employment details.
Once registered, you can apply for a loan through the App. During the application, we assess your eligibility based on various criteria such as income, credit score, and the provided documents.
After your application is reviewed, we will approve or reject the loan based on the provided data. If approved, the loan amount will be disbursed to your bank account.
Repayments are made via your linked bank account, and you can track your loan balance and upcoming payments directly within the App.
Managing your loan repayment is crucial for maintaining a positive financial relationship. Here’s what you need to know about repayments and the consequences of late payments:
Loans are repaid in installments over a set term, which is outlined when you apply. Each installment amount will include principal and interest.
If a payment is missed or delayed, late payment fees may apply. The fee structure will be clearly defined in your loan agreement.
Failure to repay within the agreed-upon terms can negatively affect your creditworthiness and lead to further legal actions, including the collection of overdue payments through third-party agencies.
In some cases, we may allow you to extend your loan term. However, this may come with additional fees and changes to the repayment schedule.
The App and all its contents, including text, graphics, logos, images, and software, are owned by PRAVIK FINANCE AND INVESTMENT COMPANY PRIVATE LIMITED or its licensors and are protected by copyright, trademark, and other intellectual property laws. You are granted a limited, non-exclusive, non-transferable license to use the App in accordance with this Agreement.
You agree to keep any non-public, confidential information disclosed to you by PRAVIK FINANCE AND INVESTMENT COMPANY PRIVATE LIMITED in connection with your use of the App strictly confidential. This includes any proprietary information, financial data, or any other confidential materials shared during the loan application or approval process.
We collect, store, and process your personal and financial data in accordance with our Privacy Policy, which outlines how your information is handled. By using the App, you consent to the collection, use, and storage of your data as described in the Privacy Policy.
By using the App, you consent to receiving electronic communications from PRAVIK FINANCE AND INVESTMENT COMPANY PRIVATE LIMITED, including but not limited to notifications, alerts, and marketing communications. You agree that all agreements, notices, and other communications we provide to you electronically will satisfy any legal requirements for written communications.
This Agreement will remain in effect as long as you continue to use the App.
PRAVIK FINANCE AND INVESTMENT COMPANY PRIVATE LIMITED may terminate or suspend your access to the App if you breach any terms of this Agreement or if your account is deemed inactive for an extended period.
Representations and Warranties; Disclaimer
Representations and Warranties:
You represent and warrant that the information provided by you is accurate and complete and that you are authorized to use the financial information submitted through the App.
The App is provided on an “as-is” basis, and we make no warranties regarding the functionality, reliability, or availability of the App. We do not guarantee that the App will be error-free or that it will meet your specific requirements.
You agree to indemnify and hold harmless PRAVIK FINANCE AND INVESTMENT COMPANY PRIVATE LIMITED, its affiliates, officers, directors, and employees from any claims, damages, or expenses arising out of your use of the App or violation of this Agreement.
To the fullest extent permitted by law, PRAVIK FINANCE AND INVESTMENT COMPANY PRIVATE LIMITEDshall not be liable for any indirect, incidental, special, or consequential damages, including but not limited to loss of profits or data, arising out of or related to your use of the App, even if we were advised of the possibility of such damages.
If you have any questions or concerns regarding this Agreement, please contact us at:
Company Name: PRAVIK FINANCE AND INVESTMENT COMPANY PRIVATE LIMITED
App Name: VeriLend
Email: service@pravikfinance.com
Address: 2-B COSMOPOLIS 21 L DRUPAREL MARG MALABAR HILL, MUMBAI, Maharashtra, India - 400006