IflIFL

Online Loan (OL) –Terms & Conditions


Basics:


  1. Access to Online Gold Loan facility will be provided on accepting the Terms & Conditions while installing the IFL Personal Loan mobile App. Once accepted the Customer/User is bound by these Terms & Conditions.


  2. Any discrepancy in the online account should be immediately brought to the notice of IFL Personal Loan (a unit of IFL Housing Finance Limited) either by E-mail to info@Indiafinsec.in or by calling our customer care numbers provided on www.Indiafinsec.in or through a complaint letter at the nearest branch.


  3. All payments will be credited to the Bank Account furnished by the customer at the time of registration or any other changed Bank Account at later stage.


  4. All online transactions will be confirmed through OTP sent to the registered mobile number.


  5. Each time a fresh Online Gold Loan is availed, the existing loan against the same gold ornament(s) will be closed and a new loan will be created.


Obligations of IFL Personal Loan (a unit of IFL Housing Finance Limited):


  1. Reasonable use of available technology will be made to ensure security and to prevent unauthorized access.


  2. Online/Mobile facilities can be accessed from anywhere any time provided internet/data connection is available with reasonable coverage/speed to access data.


  3. Password can be reset using “forgot password” option only by the registered user after OTP confirmation.


  4. OGL service requests received from customer will be eligible for fulfillment from the time of installation of IFL Personal Loan mobile App.


  5. Rules and regulations applicable to normal banking transactions including RTGS/NEFT/IMPS (Immediate Payment Service) regulations in India will be applicable for the transactions executed through online/mobile.

  6. IFL Personal Loan (a unit of IFL Housing Finance Limited) reserves the right to change/modify the services offered or the Terms of Service on IFL Personal Loan mobile App at its discretion at any time without any notice. A notification to that effect will be updated on IFL Personal Loan for the customer.


  7. Maintenance & up gradation of software/OS/hardware etc., used by the customer will be the whole & sole responsibility of the customer alone and IFL Personal Loan (a unit of IFL Housing Finance Limited) will have no obligation whatsoever to support them in any manner. However an update from time to time may be provided to customer regarding mobile OS, browsers, which are required for using IFL Personal Loan.


  8. IFL Personal Loan (a unit of IFL Housing Finance Limited), at its sole discretion, shall have the liberty to modify/amend/withdraw the services of IFL Personal Loan without any prior intimation to the customers.


Obligations of Customer:


  1. Maintaining the secrecy of the user credentials of the customer with regard to Username and Password, registered on IFL Personal Loan is the whole and sole responsibility of the customer. IFL Personal Loan (a unit of IFL Housing Finance Limited) presumes that any login on IFL Personal Loan app using valid Username and Password is a valid session initiated by none other than the customer and will be binding on the customer.


  2. Any change in customer’s registered mobile number should be informed and captured in the IFL Personal Loan (a unit of IFL Housing Finance Limited) records, as all online transactions on IFL

    loan will be processed through OTP confirmation sent customer, wherever required.

    to the registered mobile number of the

  3. Any change in customer’s bank account details should also be informed and captured in the IFL Gold Loan (a unit of IFL Housing Finance Limited) records, as all payments related to online transactions on IFL Personal Loan will be processed o the registered bank account of the customer. This will not be applicable if the customer chooses any other modes of payment which would be made available from time to time.


  4. The customer undertakes to confirm that he/she will not access IFL Personal Loan through any illegal means oruse it /allow others to use it for any illegal activities, forbidden by law.


  5. Any intimations/notices sent by IFL Personal Loan (a unit of IFL Housing Finance Limited) to the registered mobile number or Email ID shall be deemed to have been received by the customer even in the absence of any acknowledgement from the customer.


Liability & Indemnity:

  1. The customer alone shall be liable for any loss from unauthorized transactions in his account/s if he has breached the terms or contributed or caused the loss by negligent actions on his part such as:

    1. Keeping a written or electronic record of IFL Personal Loan Password,


    2. Disclosing or failing to take all reasonable steps to prevent disclosure of IFL Personal Loan Password to anyone including any minor, company staff and/or failing to advise the company of such disclosure within 24 hours.


  2. IFL Personal Loan (a unit of IFL Housing Finance Limited) will be completely absolved of all liabilities in case the customer fails to inform/complaint to IFL Personal Loan (a unit of IFL Housing Finance Limited) within 24 hours about any unauthorized access to or erroneous transactions on its app. After receiving the customer complaint IFL Personal Loan wil disable the IFL Personal Loan access credentials of that customer. In such cases if fund transfer has not been already initiated, then IFL Personal Loan will stop the transfer and inform the customer. In case the transfer has already been initiated before receiving the customer complaint then IFL Personal Loan will share all the transfer/transaction details with the customer to enable the customer to take up the matter with the concerned authorities.


  3. IFL Personal Loan (a unit of IFL Housing Finance Limited) shall, in no circumstances, be held liable by the Customer if IFL Personal Loan access is not available in the desired manner for reasons including but not limited to natural calamity, floods, fire and other natural disasters of any kind, legal restraints, faults in the telecommunication network or internet or network failure, power breakdown or battery breakdown, software or hardware failure and or error or any other reason beyond the reasonable control of IFL Personal Loan . IFL Personal Loan (a unit of IFL Housing Finance Limited) shall in no way be liable for any loss or damage that may occur due to hacking of the account by any persons other than the User, which fits in the definitions of a Cyber Related Crime’ as accepted internationally. IFL Personal Loan (a unit of IFL Housing Finance Limited) shall, under no circumstances, be liable for any damages whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character or nature whatsoever and whether sustained by the User or any other person.


  4. The Customer shall indemnify and hold IFL Personal Loan (a unit of IFL Housing Finance Limited)

harmless against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses whatsoever which IFL Personal Loan may at any time incur, sustain, suffer or be put to as a consequence of or by reason of arising out of providing IFL Personal Loan services or by reason of IFL Personal Loan in good faith taking or refusing to take or omitting to take action on any instruction given by the Customer.


Governing Law & Jurisdiction:

Any claim, dispute or controversy with respect to, in connection with or arising out of this Agreement shall be subject to and decided by arbitration exclusively within jurisdiction of Delhi The arbitration proceeding shall be conducted in accordance with the Indian Arbitration and Conciliation Act 1996.


ONLINE LOAN PAYMENTS


General & Payment Terms