Loan Amount
We offer our users the flexibility to avail of a minimum loan amount of ₹ 1 lakh /- and a maximum loan amount of ₹ 2 crore /-. But the loan amounts approval depends on the banking partners.
Loan Approval
We offer our users the flexibility to avail of a minimum loan amount of ₹ 1 lakh /- and a maximum loan amount of ₹ 2 crore /-. But the loan amounts approval depends on the banking partners.
Interest and charges
Interest rate is dependendent upon the kind of loan availed by the user. The interest rates can be subjective. However, standard interest rate offerred here at Finbull India will be 8.00% yearly. The interest shall be calculated for the actual number of days the loan remains outstanding. It is the standard amount the user will have to pay upon the repayment of the loan amount.
There is standard grace period of 3 days on the due date may be allowed to the client at the sole discretion of the Company. For the purpose of calculation of interest, a year will be counted as 365 days. Interest is calculated on 30 days compounding basis.
Purposes
The purpose of loan disbursement can be subjective. At Finbull India, the loan can be disbursed to anyone who is falling short of money to fulfill his needs and require some urgent funds. The purpose of requirements could be establishment/expansion of business activity, personal requirements, or domestic needs including medical expenses, education, vehicle, etc. Loans shall not be availed for any speculative, illegal, or unlawful purposes that violate the laws of the Country.
Tenure of the Loan
All loans are approved for a minimum tenure of 1 Years and a maximum tenure of 20 Years. Once the user avails the loan, the tenure of the loan can’t be extended under any circumstances. It is advisable that the user is cautious about what he's filling in tenure of the loan field, at the time of filling out his application form.
Eligibility for the Loan
At this platform, we allow any individual who is an Indian Citizen and fulfills all obligations for the loan and KYC norms as per RBI guidelines is eligible to apply for a loan. The pre-requisites that are required to avail loan from us are:
• UIDAI No(Aadhaar Card)
• Bank Account Number
Nomenclature
All the loans that are being disbursed are approved based on our customer's requirement. It is either the customer who contacts our company or our associates who contact the customer on the basis of the information the customer provides to Finbull India by registering on our website.
Disbursement of Loan
Once the user submits their application form along with all the requisites, as per Finbull India's requirement, we aim to disburse the loan on the next working day.
Penal interest
In an event where the user fails to pay his EMI through our online portal and the time limit exceeds the grace period, a penal fee (penalty fee) as decided by the company will be charged over the regular interest being paid by the user.
Loan Repayment
The repayment of the loan is accepted on a monthly basis in the form of EMI. The client has to pay the EMIs every month until the tenure of the loan is complete and the full debt has been cleared. It is the duty of the user to pay the EMI online to save himself from the trouble of late fee and degrading CIBIL Score.
Relaxation on the Interest
If the full and final repayment of the loan amount is made before the stipulated period, then the applicant may get relaxation on interest.
However, if the client fails to pay the EMI of the loan in any particular month, a late fee interest of 1.5% will be charged on a daily basis on the EMI amount.
The Company May Demand
There may be instances that the Company may demand the following in order to complete the loan procedure. The Company will choose whether to demand these from you or not based on the following three criteria:
• The type of the loan availed
• The Loan Amount
• Your residential city
Suspension of Services
The Company may also suspend services on the web or cancel loan requests for any customer at its sole discretion without assigning any reason, whatsoever.
Non-Refundable Charges
If the customer fails to complete the loan procedure due to any reasons or problem, then service charges and other charges involved along the procedure will be non-refundable.
If Any Party Fails to Complete the Process
If the user fails to complete the application procedure:
1. If the Company is unable to disburse the loan amount due to mismatch of the details in UIADI document or bank account number or any other related documents then the loan seeker/customer may not make any issues or from the legal aspects because he/she could not applied with genuine documents or details to the company.
2. The Company will not refund any amount in such cases. The Company is not responsible for or liable for, any action, claims, demands, losses, damages, costs, charges, and expenses that a customer may suffer, sustain or incur due to the offer.
Incurring Transaction Issues
Returned, Disputed or Un-Authorized / fraudulent transactions by the customers will not be considered.
Fraud Prevention
All kinds of fraudulent activities or attempts to defraud the company, must be brought to the knowledge of the Managemen. The management will take suitable action against such culprits.
Employees of Central/State Government
A loan may be given to any person working in State/ Central Government within India.
Recovery Agents
The Company has authorized a department that takes care of the recovery of the loan amount. There are many authentic recovery agents in this department who are responsible for recovering the money in case a user fails to pay the EMI. These clients have been solely appointed to work their way into recovering the amount. These agents can call you or reach out to you at the provided address. They have their own way of dealing with defaulters and the Company has no say in it, whatsoever.
Disputes
If the client holds any grudges against the company due to any reasons, the client must not, in any case, stage protests, damage the property of the Company, fight, abuse, etc. then the Company is entitled to take legal action against the client.
