These Terms & Conditions constitute a legally binding agreement between ZustCash (a registered NBFC) and all users accessing its services.
1. LEGAL STATUS OF THE COMPANY
1.1 ZustCash is a Non-Banking Financial Company registered under applicable provisions of Indian financial regulations and operates subject to regulatory supervision by competent authorities including the Reserve Bank of India.
1.2 The Company provides regulated financial products including unsecured personal loans and business loans strictly in accordance with RBI guidelines governing digital lending practices.
1.3 All financial products are subject to internal credit risk assessment policies, prudential norms, and statutory compliance obligations applicable to NBFCs.
1.4 The Company reserves the exclusive right to modify its lending policies, underwriting standards, and risk models in accordance with regulatory changes.
2. ACCEPTANCE OF TERMS
2.1 By accessing the Platform, submitting personal information, or applying for any loan product, the User expressly acknowledges having read, understood, and agreed to these Terms.
2.2 Electronic acceptance through checkbox confirmation, OTP verification, or digital signature shall constitute legally binding consent under the Information Technology Act, 2000.
2.3 Continued usage of services following updates to these Terms shall constitute deemed acceptance of such modifications.
2.4 If the User does not agree with any clause contained herein, the User must immediately discontinue access to the Platform.
3. ELIGIBILITY CRITERIA
3.1 The User must be a citizen or lawful resident of India possessing valid identity documentation recognized under applicable KYC regulations.
3.2 The User must be at least eighteen years of age and legally competent to enter into enforceable financial agreements under Indian law.
3.3 The User must possess a valid Permanent Account Number (PAN) and comply with all applicable tax identification requirements.
3.4 The Company reserves the right to determine additional eligibility criteria including income thresholds, employment stability, and creditworthiness standards.
4. LOAN APPLICATION PROCESS
4.1 Submission of an application does not guarantee approval and shall remain subject to comprehensive verification including credit bureau evaluation.
4.2 The Company may request bank statements, financial records, income documents, or account aggregator data for underwriting purposes.
4.3 Any misrepresentation, omission, or falsification of data shall result in immediate rejection and potential legal consequences.
4.4 The Company may decline applications without providing detailed reasoning, subject to applicable regulatory transparency requirements.
5. INTEREST RATES & CHARGES
5.1 Interest rates applicable to loans shall be determined based on internal risk assessment models, credit score evaluation, and borrower profile.
5.2 All applicable fees including processing fees, penal interest, and foreclosure charges shall be transparently disclosed prior to execution of the loan agreement.
5.3 The Annual Percentage Rate (APR) shall be communicated in compliance with RBI digital lending transparency guidelines.
5.4 Late payments may result in additional charges, adverse credit bureau reporting, and recovery proceedings as permitted by law.
6. REPAYMENT OBLIGATIONS
6.1 Borrowers are obligated to repay principal and interest in accordance with the schedule agreed upon in the executed loan agreement.
6.2 E-mandate or NACH authorization may be required for automatic debit of repayment amounts from designated bank accounts.
6.3 Failure to honor repayment obligations may result in classification as a delinquent account under applicable RBI norms.
6.4 The Company reserves the right to initiate recovery proceedings in accordance with law and regulatory guidelines.
7. CREDIT INFORMATION REPORTING
7.1 The User authorizes the Company to obtain credit reports from authorized Credit Information Companies for underwriting assessment.
7.2 Repayment behavior may be reported periodically to credit bureaus as part of statutory compliance.
7.3 Adverse repayment behavior may negatively impact the User’s credit score and borrowing eligibility.
7.4 The Company may conduct periodic credit reviews during the loan tenure.
8. DATA ACCESS & CONSENT
8.1 The User consents to secure access of financial information including bank statements and income data for credit evaluation.
8.2 Access to account aggregator data shall occur strictly in compliance with RBI Account Aggregator framework.
8.3 Data accessed shall be used exclusively for underwriting and compliance purposes.
8.4 Withdrawal of consent may impact eligibility and continuity of services.
9. AML & KYC COMPLIANCE
9.1 The Company conducts KYC verification in accordance with RBI Master Direction on KYC.
9.2 Transactions may be monitored to comply with Prevention of Money Laundering Act requirements.
9.3 Suspicious transactions may be reported to relevant authorities as mandated by law.
9.4 Users must cooperate with additional verification if requested.
10. DISCLAIMER OF WARRANTIES
10.1 The Platform is provided on an “as-is” basis without warranty of uninterrupted availability.
10.2 The Company does not guarantee approval, speed of disbursement, or continuous system uptime.
10.3 Technical errors may occur and shall not create liability beyond regulatory limits.
10.4 Users acknowledge inherent risks associated with digital platforms.
11. LIMITATION OF LIABILITY
11.1 The Company shall not be liable for any indirect, incidental, consequential, punitive, or special damages arising from use of the Platform, including loss of profits, reputation, or data integrity.
11.2 Liability of the Company, if any, shall be limited strictly to the extent permitted under applicable RBI regulations and statutory provisions governing NBFC operations.
11.3 The Company shall not be responsible for technical disruptions caused by internet failures, power interruptions, cyberattacks, or third-party service interruptions.
11.4 Users acknowledge that digital financial services inherently carry operational risks and accept such risks as part of using electronic lending platforms.
12. INDEMNIFICATION
12.1 The User agrees to indemnify and hold harmless the Company against any losses, claims, damages, or legal costs arising from misrepresentation of information submitted.
12.2 Indemnification obligations shall apply where the User violates statutory requirements, regulatory norms, or contractual repayment commitments.
12.3 The User shall remain liable for legal expenses incurred due to fraudulent conduct, identity misrepresentation, or intentional misuse of loan proceeds.
12.4 Indemnity obligations shall survive termination of the lending relationship and remain enforceable under applicable Indian laws.
13. FRAUD PREVENTION & MONITORING
13.1 The Company may deploy automated fraud detection systems and manual review processes to identify suspicious or irregular loan applications.
13.2 Any fraudulent submission of financial documents, fabricated income proof, or identity misuse may result in blacklisting and legal prosecution.
13.3 The Company reserves the right to share fraud-related information with credit bureaus, law enforcement agencies, and regulatory bodies.
13.4 Fraud prevention monitoring may continue even after loan disbursement to ensure regulatory compliance and risk mitigation.
14. RECOVERY PRACTICES
14.1 Recovery of overdue loans shall be conducted in accordance with RBI Fair Practices Code applicable to NBFCs.
14.2 The Company shall ensure that no coercive, abusive, or unlawful recovery practices are employed during collection activities.
14.3 Recovery communications shall occur within reasonable hours and respect borrower dignity and privacy.
14.4 Escalation of defaulted accounts may include engagement of authorized recovery agents operating within regulatory guidelines.
15. CONFIDENTIALITY
15.1 The Company shall maintain confidentiality of borrower data except where disclosure is mandated by law or required for regulatory compliance.
15.2 Employees and service providers are contractually bound to maintain strict confidentiality standards.
15.3 Disclosure to credit bureaus and regulators shall not constitute breach of confidentiality obligations.
15.4 Confidentiality obligations shall survive termination of the loan agreement.
16. ELECTRONIC RECORDS & COMMUNICATION
16.1 Loan agreements, sanction letters, and repayment schedules may be issued electronically and shall have legal validity under IT Act, 2000.
16.2 Communication via email, SMS, or registered digital channels shall constitute valid service of notice.
16.3 The User agrees to maintain updated contact details to ensure uninterrupted communication.
16.4 Electronic logs and system records shall be admissible as evidence in legal proceedings.
17. FORCE MAJEURE
17.1 The Company shall not be liable for delays caused by natural disasters, pandemics, government restrictions, or regulatory changes beyond reasonable control.
17.2 Force majeure events may temporarily suspend service availability without creating liability.
17.3 The Company shall take reasonable efforts to restore services promptly following such events.
17.4 Regulatory compliance obligations shall continue notwithstanding force majeure circumstances.
18. INTELLECTUAL PROPERTY
18.1 All trademarks, logos, software code, and content on the Platform are proprietary property of the Company.
18.2 Unauthorized reproduction, modification, or redistribution of Platform content is strictly prohibited.
18.3 Users are granted limited, non-exclusive, non-transferable access rights for personal usage only.
18.4 Violation of intellectual property rights may result in legal enforcement actions.
19. ASSIGNMENT & TRANSFER
19.1 The Company may assign or transfer its rights and obligations under loan agreements to other financial institutions.
19.2 Users may not assign obligations without prior written consent of the Company.
19.3 Assignment shall not affect repayment obligations of the borrower.
19.4 Transfer of loan portfolios shall comply with RBI securitization and transfer guidelines.
20. GOVERNING LAW & JURISDICTION
20.1 These Terms shall be governed exclusively by laws of India.
20.2 Any disputes shall be resolved through arbitration under Arbitration and Conciliation Act, 1996.
20.3 The seat and venue of arbitration shall be within India as determined by the Company.
20.4 Courts of competent jurisdiction in India shall have supervisory authority over arbitration proceedings.
21–40. ADDITIONAL REGULATORY, SEVERABILITY & MISCELLANEOUS PROVISIONS
21 Cross-default provisions applicable across multiple loan facilities.
22 Regulatory audit cooperation and inspection rights.
23 Data localization compliance under RBI digital lending norms.
24 Policy amendment and version control disclosures.
25 Survival of indemnity, confidentiality, and limitation clauses.
26 Waiver provisions and non-enforcement rights.
27 Severability of invalid clauses without affecting remainder.
28 Regulatory reporting and statutory disclosures.
29 Grievance redressal mechanism in accordance with RBI guidelines.
30 Ombudsman escalation rights where applicable.
31 Account suspension for regulatory non-compliance.
32 Consent revocation consequences.
33 Portfolio transfer and securitization compliance.
34 Digital signature validity and authentication framework.
35 Risk disclosure statement acknowledgment.
36 Transparency and key fact statement issuance.
37 Internal audit and compliance monitoring.
38 Regulatory circular adherence.
39 Customer awareness and financial literacy disclosures.
40 Entire agreement and binding effect clause.