Legal
Terms & Conditions
Please read these terms and conditions carefully before using fin-adj services or availing a loan-related facility.
Repayment & Auto-Debit
Repay via UPI, NACH, ECS, or bank transfer through the fin-adj app/portal. AutoPay registration is required for scheduled deductions. Maintain sufficient account balance on due dates to avoid transaction failures.
Charges & Penalties
Payment bounce charge is ₹0 (+ applicable taxes). Late payment charge is 2% of the overdue amount or ₹0, whichever is higher (+ applicable taxes).
Prepayment & Foreclosure
Full or partial prepayment is permitted anytime with zero foreclosure charges. Exact closure amounts are displayed in-app.
Group Liability (fin-adj FORUM Only)
All Joint Liability Group members accept joint and several liability. Default by any member obligates the entire group to repay the outstanding amount. Weekly group meetings are mandatory.
Credit Bureau Reporting
All repayment data is reported to RBI-recognized Credit Information Companies (CIBIL, Experian, CRIF, Equifax). Timely repayments improve credit scores; defaults negatively impact them.
Borrower Declaration & Indemnity
Borrower confirms all submitted information is accurate, loan proceeds will be used lawfully, and agrees to indemnify fin-adj against all losses, claims, penalties, or legal costs arising from breach, false information, or fund misuse.
Right to Recall
fin-adj reserves the right to immediately recall the full outstanding loan upon default, fraud, insolvency, death, or material adverse change in the borrower’s financial condition.
Fair Recovery Practices
All recovery strictly follows the RBI Fair Practices Code. No coercion, harassment, or intimidation is permitted. Recovery begins with written notice; legal action is initiated only as a last resort.
Data Protection & Privacy
Personal and financial data is collected, encrypted, and used solely for loan processing per the DPDP Act, 2023. Data is never sold or shared with unauthorized parties. Borrowers may access, correct, or request data deletion as permitted by law.
Grievance Redressal
Complaints must be directed to mail@fin-adj.com or +91-XXXXXXXXXX. fin-adj commits to resolution within 48 hours of receipt.
Dispute Resolution & Arbitration
Unresolved disputes after 30 days of internal grievance handling shall be referred to binding arbitration under the Arbitration and Conciliation Act, 1996, conducted by a sole arbitrator in Visakhapatnam, AP. The award is final.
Jurisdiction & Governing Law
This agreement is governed by the laws of India. Courts in Visakhapatnam, Andhra Pradesh, shall have exclusive jurisdiction over all disputes.
Force Majeure
fin-adj is not liable for delays or failures caused by natural disasters, government actions, banking/tech outages, pandemics, or civil unrest, but will resume services promptly once conditions normalize.
Amendments & Notices
fin-adj may update terms, fees, or policies with prior notice. Notices via email, SMS, WhatsApp, or registered post are deemed delivered within 48 hours. Borrowers must keep contact details updated.
Regulatory Compliance
fin-adj operates in full compliance with RBI Master Directions (NBFC/MFI), RBI Digital Lending Guidelines 2022, PMLA 2002, DPDP Act 2023, IT Act 2000, Consumer Protection Act 2019, NI Act 1881, and Indian Contract Act 1872.
Acceptance
This is a system-generated document per RBI guidelines. By availing the loan, the borrower irrevocably acknowledges reading, understanding, and agreeing to all terms, conditions, and legal clauses herein.