Terms and Conditions

1. About Us

Swaroop is an NBFC–BL registered with the Reserve Bank of India, holding a valid Certificate of Registration (CoR). We provide secured and unsecured loans including:

• Vehicle Loan
• Personal Loan
• Home Loan
• Appliance Loan
• Mobile Loan

2. Eligibility

To apply for any loan with Swaroop, you must:

• Be at least 18 years of age.
• Be an Indian resident.
• Provide accurate and complete information during the loan application process.
• Meet our credit, income, and KYC requirements.

We reserve the right to reject any application at our sole discretion.

3. Loan Terms

• Sanction & Disbursement: Loan approval is subject to eligibility checks, document verification, and internal assessment. Disbursement may take place only after completing all due diligence.
• Interest Rate & Charges: The applicable interest rate, processing fee, prepayment/foreclosure charges, and other costs will be disclosed in the Sanction Letter provided to you.
• Repayment: Borrowers must repay EMIs on or before the due date. Delay or default will attract penal charges and may affect your credit score.
• Prepayment/Foreclosure: Allowed as per RBI guidelines and the terms mentioned in your loan agreement.

4. Use of Loan Proceeds

• Loan funds must only be used for the declared purpose (e.g., property, business, education, or personal needs).
• Misuse of funds may lead to cancellation of the facility, recovery action, and legal proceedings.

5. Documentation & Verification

• You must submit valid KYC documents (PAN, Aadhaar, address proof, etc.), income documents, and any other information we require.
• We may use Video KYC, CKYC, or third-party verification tools to validate your details.
• Providing false or misleading information is strictly prohibited and may lead to loan rejection or legal action.

6. Privacy & Data Usage

• By applying, you consent to Swaroop collecting, storing, and processing your personal and financial information for loan processing, servicing, and compliance purposes.
• Data may be shared with third parties (Experian, regulators, and service providers) as required by law or for loan servicing.
• We retain personal data for 60 days after loan closure or as per applicable law.

7. Experian Consent and Credit Check

• By proceeding on the eligibility flow, you provide explicit consent to fetch and process your credit information from Experian.
• This consent is used only for loan eligibility assessment, risk evaluation, and customer communication related to your application.
• You acknowledge that providing consent does not guarantee loan approval and final decision remains subject to Swaroop policies and regulatory requirements.

8. Borrower’s Responsibilities

You agree to:

• Provide truthful and up-to-date information.
• Ensure timely repayment of EMIs.
• Notify us immediately in case of change in address, phone number, employment, or financial status.
• Not use the loan for illegal or speculative purposes.

9. Default & Recovery

• In case of default, we may initiate recovery measures including reminders, notices, legal action, or repossession of collateral (where applicable).
• Your default may be reported to Experian and other permitted credit bureaus as per RBI guidelines.

10. Limitation of Liability

• We strive to provide seamless services but do not guarantee uninterrupted or error-free access to our website, applications, or loan processing systems.
• Swaroop is not liable for delays caused by third parties, technical failures, or force majeure events (natural disasters, strikes, etc.).

11. Termination

We reserve the right to terminate or suspend your access to loan services in case of:

• False information submission,
• Misuse of loan, or
• Violation of these Terms.

12. Governing Law & Dispute Resolution

• These Terms are governed by the laws of India.
• Any disputes will fall under the jurisdiction of courts in Kolkata, West Bengal.
• Disputes may also be referred to arbitration under the Arbitration and Conciliation Act, 1996.

13. Updates to Terms

We may revise these Terms from time to time. Updated versions will be posted on our website. Continued use of our services after changes implies acceptance.