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Platform Fees Terms and Conditions

SwipeLoan Platform Fees Terms and Conditions

These Terms and Conditions (hereinafter referred to as the “Agreement”) govern the Platform Fees charged by KGIL Fintech Solutions Pvt Ltd (hereinafter referred to as “We”, “Us”, “Our”, “Company” or “SwipeLoan”) for providing loan eligibility assessment services to users (hereinafter referred to as “You”, “Your”, “Customer”). By using our website “www.swipeloan.in”
and/or mobile application “SwipeLoan App” available only on Android platforms (collectively referred to as the “Online Platform”), you agree to these terms.

SwipeLoan and the Customer are hereinafter collectively referred to as the “Parties” and individually as a “Party”.

1. Eligibility:

• Customers registered with us must be above the age of 21 years to avail of our services.

2. Services Provided:

  • SwipeLoan provides an eligibility assessment service to customers by evaluating their credit score, KYC details, and banking parameters.

  • This assessment is conducted based on criteria set by our 40+ Bank & NBFC Partners and 50+ Fintech Partners.

  • After assessing all parameters, SwipeLoan displays a list of eligible banks, NBFCs, and fintech partners where the customer may apply for a loan.

  • Customers will be redirected to the selected partner’s website or mobile application through a link provided on the Online Platform.

  • The platform fee charged is INR 50 + GST (Total INR 59) for checking loan eligibility for various loan products, including but not limited to:

o Instant Loan
o Personal Loan
o Medical Loan
o Business Loan
o Home Loan
o Loan Against Property (LAP)
o Credit Cards

  • This service does NOT include the provision of a Credit Bureau Report.

  • The platform fee payment does NOT guarantee loan approval or disbursal. The final decision rests solely with the selected partner.

  • The INR 59 platform fee is valid for 30 days only, after which the customer must pay INR 59 again for another eligibility check. 

  • Customers have the option to purchase an Annual Plan for INR 300 + GST (Total INR 354), which allows them to check their eligibility once every 30 days (12 times per
    year).

    3. Payment Terms:

    • The customer must make a one-time payment of INR 59 (valid for 30 days) or opt for an annual plan of INR 354 (valid for 12 months, one eligibility check per month).

    • The prices after discount are as follows:
      Plan-1:

    o Original Price: INR 118 (Inclusive GST)
    o Offer: 50% Off (INR 59 Final Price)
    o Validity: Up to 30 Days, One-Time Eligibility Check

    Plan-2:
    o Original Price: INR 1416 (Inclusive GST)
    o Offer: 75% Off (INR 354 Final Price)
    o Validity: Up to 365 Days, One Eligibility Check Each Month (12 times per year)

    • The amount paid is non-refundable under any circumstances, irrespective of whether the customer secures a loan or not.

    • SwipeLoan does not guarantee the sanction or disbursal of a loan. It only facilitates eligibility assessment and redirection to partner platforms.

      4. Process for Availing Services:

    1. The customer visits the SwipeLoan mobile application (only available on Android) and logs in using a registered mobile number.

    2. OTP verification is conducted for authentication.

    3. The customer enters their PAN card number for KYC verification.

    4. Upon successful KYC verification, SwipeLoan assesses the customer’s creditworthiness based on:

    o Credit score
    o Banking parameters
    o KYC details

    1. A list of potential lending partners is displayed based on the assessment.

    2. The customer is required to pay the platform fee before accessing the selected partners’ loan application links.

    3. After payment, the customer can proceed to apply for a loan directly on the partner’s platform.

      5. Disclaimer and Limitations: 

      • SwipeLoan is NOT a lender and does not provide loans directly. It only facilitates the assessment of eligibility and redirection to partner platforms.

      • The final approval, sanction, or disbursal of loans is solely at the discretion of the selected financial institutions.

      • SwipeLoan is not responsible for any decisions made by banks, NBFCs, or fintech partners regarding loan approvals or rejections.

      • Payment of the platform fee does not entitle the customer to demand a loan sanction from any partner.

      • Customers shall not hold SwipeLoan responsible for any claims, losses, or damages arising from:

      o Loan rejection
      o Any discrepancies in credit assessment
      o Any actions taken by financial institutions

      • Customers shall have no legal recourse against SwipeLoan for unsuccessful loan applications or non-disbursal of funds.

      6. Dispute Resolution:

      • Any disputes arising between the parties shall be resolved through arbitration in Pune, India, under the Indian Arbitration and Conciliation Act, 1996.

      • The language of arbitration shall be English.

      • The courts in Pune, Maharashtra, shall have exclusive jurisdiction over any legal proceedings.

        7. Modification of Terms:

      • SwipeLoan reserves the right to modify, update, or discontinue the service at its sole discretion without prior notice.

      • Changes to the platform fees and service offerings may be made at any time.

      • Customers are advised to review the terms periodically to stay informed about updates.

        8. Final Agreement:

      • By proceeding with the payment, the customer agrees to these Terms and Conditions.

      • No claims, legal actions, or disputes shall be entertained against SwipeLoan regarding loan approvals, disbursals, or refunds of platform fees.

      • This Agreement is final and binding on all users availing of SwipeLoan services. By using SwipeLoan services and making the platform fee payment, you acknowledge and

        accept these Terms and Conditions in full. 

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