Paul Instacred Private limited (herein after called as the Company) provides personal loans to its customers to meet their short term and medium term requirements. Financing is done at the specific request of the applicant but solely at the Company’s discretion.
While granting loans every attempt is made to do proper assessment and scrutiny on case to case basis. However, the Company has all rights to cancel the sanction letter if it is found that the applicant has provided incorrect /false information and or submitted faulty/fake /improper documents to mislead the Company. The cancellation will be done as soon as it comes to light, at any time before or after the disbursement (full or partial) of the loan amount. The Company will recall the entire amount disbursed along with interest and penalties which the company may deem fit and the entire amount will be payable to the Company in one single installment immediately on demand. will not be liable to refund the Account opening fees and any interest on the amount. Processing Fee, Stamp duty and Documentation Charges are non-refundable charges and would not be waived/refunded in case of loan cancellation by any means. The Company will have every right to take any legal/criminal action against a person /entity who has tried to avail any loan facility through such misrepresentation /fraud.
If the borrower fails to complete the formalities/submission of documents stipulated by the terms of sanction within a period of 12 months or within the prescribed period as agreed, the Company will have every right to cancel the sanction letter.
If an excess amount is deposited in the loan account at the end of the repayment period and there is any credit balance in the loan account of the borrower it will be refunded back on being brought to the notice of the Company.
Company will not be responsible for any delay in loan installment in loan account if the payment is made through card and there is a delay due to technical/systemic problem. However, Company will not charge any interest for the delayed period on the installment amount as it will be deemed to have been deposited on the date of debit to customer’s account.
Company will not be responsible in the event of any failed transaction of crediting loan installment through debit card due to any reason whatsoever.
If any extra installment is deposited by the borrower in his loan account, it can be reverted back at the specific request of the borrower. The Company will not be responsible for any such additional credits. In the event of any duplicate credit transactions it will be reverted back within a period of seven working days from the date it was brought to the notice of the Company.
The Company reserves all rights to change/amend/add/cancel any/all of the above rules at any time at its sole discretion with 7 days prior notice.