Terms & Conditions

LEGAL AGREEMENT

Terms of Service & Lending Agreement

Welcome to Intrest Wala. By accessing our platform, submitting a loan application, or utilizing our short-term lending services, you agree to comply with and be bound by the following Terms and Conditions. Please read these terms carefully before proceeding with your application.

---

1. Borrower Eligibility Criteria

To qualify for a payday or short-term cash advance on our platform, applicants must satisfy all of the following requirements:

• Citizenship & Residency: The applicant must be a citizen of India residing within Indian territory.
• Age Requirements: The applicant must be between 25 and 55 years old at the time of application submission.
• Employment Status: Only actively salaried professionals working in public or recognized private sector organizations are eligible.
• Minimum Income: Applicants must have a minimum monthly take-home salary of at least ₹30,000 credited directly into a registered bank account.

2. Loan Limits, Interest & Tenure

Our financial assistance structure is designed for transparent short-term relief:

• Borrowing Limit: You can apply for a short-term cash advance up to 80% of your monthly take-home salary, subject to a maximum ceiling of ₹1,00,000.
• Repayment Tenure: The loan duration is flexible, ranging up to a maximum calculation period of 45 days, typically aligned with your next salary credit date.
• Transparent Interest Rate: We charge a flat, transparent daily interest rate of 1% per day on the approved principal amount.
• Zero Hidden Charges: There are no concealed verification fees, surprise processing charges, or unexplained deductions upon disbursal.

3. Verification & Disbursal Process

All loan approvals are subject to strict quality and compliance checks:

• Document Verification: Submission of valid KYC documents (PAN Card, Aadhaar, 3 months of bank salary slips) and video KYC recording is mandatory.
• Admin Approval: Our administrative team reserves the right to verify employment details and bank transactions before authorizing disbursal.
• Direct Bank Transfer: Approved loan amounts are transferred electronically via instant bank transfer (IMPS/NEFT) directly to the applicant's salary bank account within 30 minutes of final approval.

4. Repayment Obligations & Default

Timely repayment is critical to maintaining a healthy credit profile and continued service eligibility:

• On-Time Repayment: The borrower agrees to repay the total outstanding amount (Principal + Accrued Interest) on or before the agreed due date.
• Consequences of Delay: In the event of non-payment or default without prior written notification, standard penal charges and legal recovery proceedings may be initiated in accordance with Indian lending regulations.
• Information Accuracy: Submitting fraudulent documents, fabricated salary slips, or false employment records will result in immediate rejection, permanent platform ban, and reporting to legal authorities.