1. Acceptance of Terms

By accessing, browsing, or using LoanMyntra’s website, mobile platform, or services, you confirm that you have read, understood, and agreed to be bound by these Terms & Conditions. These terms constitute a legally binding agreement between you and LoanMyntra. If you do not agree with any part of these terms, you must discontinue use of our services immediately. Continued usage implies unconditional acceptance of all applicable terms, policies, and future updates.

2. Eligibility to Use Services

LoanMyntra services are available only to individuals who are legally capable of entering into binding contracts under Indian law. Users must be Indian residents aged between 21 and 60 years with valid identification and an active bank account. Loan eligibility is subject to lender-specific criteria including income, credit history, and verification checks. LoanMyntra reserves the right to reject applications that do not meet eligibility requirements without assigning reasons.

3. Nature of Services

LoanMyntra operates as a digital platform that facilitates access to short-term personal loans through authorized banks and NBFC partners. LoanMyntra itself is not a lender and does not guarantee loan approval. All loan offers, interest rates, and terms are determined by the respective lending partner. LoanMyntra acts solely as a facilitator providing technology and support services to users.

4. Loan Application Process

Users are required to provide accurate, complete, and up-to-date information while submitting loan applications. Any incorrect or misleading information may result in rejection or cancellation of the loan. LoanMyntra may verify user details through third-party service providers. Submission of an application does not guarantee approval and is subject to lender verification and risk assessment.

5. Interest Rates & Charges

Interest rates, processing fees, late payment charges, and other applicable fees are determined by lending partners and disclosed prior to loan acceptance. LoanMyntra does not control pricing decisions of lenders. Users are advised to review the loan agreement carefully before acceptance. Any charges levied post-disbursal will be as per the lender’s terms and applicable regulations.

6. Loan Disbursal

Loan disbursal timelines depend on lender processing, bank procedures, and completion of verification requirements. While LoanMyntra aims to facilitate quick disbursal, delays may occur due to technical or regulatory reasons. LoanMyntra shall not be held responsible for delays caused by banks, NBFCs, or third-party service providers.

7. Repayment Obligations

Borrowers are responsible for timely repayment of loan EMIs as per the agreed repayment schedule. Repayments may be auto-debited from the registered bank account or made through approved payment methods. Failure to repay on time may result in penalties, additional charges, and adverse impact on the borrower’s credit score.

8. Late Payments & Penalties

Delayed or missed payments may attract late payment fees as specified by the lender. Continued default may result in legal action, recovery proceedings, or reporting to credit bureaus. LoanMyntra shall not be liable for consequences arising from borrower defaults. Users are strongly advised to maintain sufficient funds to avoid penalties.

9. Prepayment & Foreclosure

Borrowers may choose to prepay or foreclose their loan subject to lender policies. Some lenders may charge prepayment or foreclosure fees. All applicable terms will be disclosed in the loan agreement. LoanMyntra does not determine or waive such charges and acts only as a platform facilitator.

10. Credit Bureau Reporting

Lending partners may report loan repayment behavior to credit bureaus such as CIBIL, Experian, or Equifax. Timely repayment may improve credit scores, while defaults may adversely affect creditworthiness. LoanMyntra does not control credit bureau reporting decisions and is not responsible for changes in credit scores.

11. User Responsibilities

Users agree to use LoanMyntra’s platform only for lawful purposes. Any misuse, fraudulent activity, or attempt to manipulate the platform may result in suspension or termination of access. Users are responsible for maintaining confidentiality of login credentials and shall notify LoanMyntra of any unauthorized access.

12. Data Privacy & Security

LoanMyntra collects and processes personal data in accordance with its Privacy Policy and applicable laws. While robust security measures are implemented, absolute security cannot be guaranteed. Users acknowledge risks associated with digital platforms and agree that LoanMyntra shall not be liable for cyber incidents beyond reasonable control.

13. Third-Party Services

LoanMyntra may integrate third-party services for verification, payments, analytics, or communication. LoanMyntra is not responsible for the availability, accuracy, or actions of third-party services. Users agree to comply with third-party terms while using integrated services through the platform.

14. Limitation of Liability

LoanMyntra shall not be liable for indirect, incidental, or consequential damages arising from use of the platform or loan services. Liability, if any, shall be limited to the extent permitted by law. Users agree that LoanMyntra acts only as a facilitator and not as a lender or guarantor.

15. Suspension & Termination

LoanMyntra reserves the right to suspend or terminate user access without prior notice in cases of breach of terms, suspected fraud, or misuse of services. Termination does not absolve users of existing repayment obligations or legal liabilities arising prior to termination.

16. Amendments to Terms

LoanMyntra may update or modify these Terms & Conditions at any time without prior notice. Updated terms will be effective upon publication on the website. Continued use of services after changes constitutes acceptance of revised terms. Users are encouraged to review terms periodically for updates.

17. Governing Law & Jurisdiction

These Terms & Conditions shall be governed by and interpreted in accordance with the laws of India. Any disputes arising shall be subject to the exclusive jurisdiction of courts located in India, as determined by applicable legal provisions.

18. Contact & Grievance Redressal

For any queries, complaints, or grievances related to these terms or LoanMyntra services, users may contact our support or grievance redressal team through the official communication channels provided on the website. We are committed to resolving concerns in a fair and timely manner.