SeclineLoan Terms and Conditions

Preamble

These Terms and Conditions ("these Terms") constitute a legally binding agreement between you and SeclineLoan ("the Company," "we," or "us"), governing your access to and use of the SeclineLoan mobile application and website (collectively, the "Platform"), as well as the credit line services obtained through the Platform (the "Credit Line").

Please Read Carefully: By accessing or using any part of the Platform, you indicate that you have read, understood, and irrevocably agree to be bound by these Terms. If you do not agree with any content of these Terms, please stop using the Platform immediately.

1. Definitions and Interpretation

1.1

"Credit Line" means the conditional credit facility granted by the Company to you for revolving drawdowns of funds within a specified term and up to a maximum limit.

1.2

"Available Limit" means the maximum credit limit minus the current outstanding principal. Repaid principal may restore the Available Limit, but the Company is not obligated to maintain the availability of the limit.

1.3

"Withdrawal" means an instruction sent by you through the Platform requesting the withdrawal of funds from the Available Limit to your designated bank account.

1.4

"Billing Cycle" means the cycle in which the Company sends you a repayment notice for each Withdrawal or the consolidated outstanding balance, as specifically displayed on the Platform or in electronic communications.

1.5

"Annual Percentage Rate (APR)" means the comprehensive annualized cost including interest and all mandatory fees, with the specific value subject to the Key Facts Statement you receive at the time of application.

2. Eligibility and Registration

2.1

You represent and warrant that: you are a natural person aged 20 or older with full contractual capacity under Indian law; you are an Indian tax resident; and you have a valid Indian bank account and mobile number.

2.2

All information you submit through the Platform (including identity, income, bank account, and contact information) must be true, accurate, complete, and promptly updated. The Company has the right, in its sole discretion, to refuse to grant or continue to maintain your Credit Line for any reason (including suspicion of inaccurate information or insufficient creditworthiness), and has no obligation to disclose the specific reasons.

2.3

You are responsible for maintaining the confidentiality of your account credentials. All actions initiated through your account (including Withdrawal instructions) are deemed to be your own actions, and you bear full responsibility for them.

3. Grant, Use, and Repayment of the Credit Line

3.1 Uncommitted Facility

The Credit Line granted by the Company is uncommitted. The Company reserves the right to review, reduce, suspend, or terminate all or part of the Credit Line at any time, including the undrawn Available Limit, without any liability. Termination or reduction of the limit does not affect your repayment obligations for amounts already drawn before termination.

3.2 Withdrawal Mechanism

You may initiate Withdrawal requests within the Available Limit. After each Withdrawal is reviewed and approved by the Company, the funds will be transferred to the bank account bound at the time of your registration. The Company has the right to set minimum and maximum amounts for a single Withdrawal, daily Withdrawal frequency limits, and Withdrawal cooling-off periods.

3.3 Interest Calculation

Interest is calculated on the actual outstanding principal amount used and the actual number of days occupied, from the date the Withdrawal funds arrive in your account until the date that principal is fully repaid. The specific daily interest rate is subject to what is published on the Platform. The Company will not charge any interest or commitment fee on the undrawn Available Limit.

3.4 Repayment Obligation

You must repay each installment due in full and on time in accordance with the repayment schedule generated by the Platform (which may use equal principal and interest, interest-first-principal-later, or other methods determined by the Company). Each Withdrawal may have a separate repayment due date, or may be consolidated into a unified Billing Cycle, as specifically displayed on the Platform.

3.5 Prepayment

You may prepay all or part of the outstanding principal and accrued interest up to the repayment date at any time. Prepayment does not incur any prepayment penalty or additional fees, but interest already incurred and statutory taxes will not be refunded. Prepayment will restore the corresponding Available Limit (subject to Section 3.1).

3.6 Late Payment Handling

If you fail to pay in full by the due date, the Company will charge a late fee (rather than default interest) as liquidated damages. The late fee is a fixed amount, disclosed when you obtain the Credit Line, and will not be added to the principal to generate compound interest. Late payment records may be reported to Indian credit information companies (CICs), affecting your credit score.

4. Fees and Charges

4.1

The use of the Credit Line may incur the following fees, with the specific amounts or percentages set out before you activate the Credit Line:

• Interest (calculated daily based on the actual amount used);
• Late fee (a fixed amount, charged only when late payment actually occurs);
• Applicable Goods and Services Tax (GST);
• Other fees permitted by law and disclosed in advance.

4.2

The Company will not charge any form of commitment fee, management fee, or idle fee on the undrawn Available Limit.

4.3

All fees are denominated in Indian Rupees. You authorize the Company and partner payment institutions to debit due amounts from your bound bank account.

5. Data Collection, Use, and Privacy

6.1 Scope of Data Collection

To assess your creditworthiness, manage the Credit Line, and perform statutory obligations, the Company may collect: identity information (PAN, Aadhaar, etc.), contact information, bank account details, transaction history, device information, location information (with your authorization), and other information you voluntarily provide.

6.2 Purpose Limitation

Your personal data will be used only for: (a) credit assessment and limit management; (b) KYC verification; (c) repayment processing and collection; (d) anti-fraud and risk management; and (e) compliance with applicable laws and regulatory requirements.

6.3 Data Sharing

The Company may share necessary information with credit information companies, payment processors, KYC service providers, and government agencies that are legally entitled to require it. Without your explicit consent, the Company will not sell your personal data to third parties for marketing purposes.

6.4 Your Rights

Under the Digital Personal Data Protection Act, 2023 (DPDP Act) and the rules as amended from time to time, you have the right to access, correct, update, and request deletion of your personal data (subject to statutory retention obligations). You may exercise the above rights through the contact details listed in Section 10. The Company will respond to your request within the statutory time limit (no more than 90 days).

6.5 Data Security

The Company adopts reasonable technical and organizational measures to protect your personal data from unauthorized access, disclosure, or misuse. However, you understand and accept that Internet transmission cannot be guaranteed to be absolutely secure.

6. Platform Use Restrictions and Prohibited Conduct

7.1

You must not:

• Use the Platform or Credit Line for any illegal, fraudulent, or money laundering purpose;
• Provide false, forged, or misleading information to the Company;
• Attempt to reverse engineer, crack, or interfere with the normal operation of the Platform;
• Use automated scripts, crawlers, or other non-manual means to access the Platform;
• Transfer, lend, or allow third parties to use your account or Credit Line;
• Circumvent the Company's limit controls, risk controls, or repayment mechanisms in any way.

7.2

If you violate any provision of this Section, the Company has the right to immediately suspend or terminate your Credit Line and Platform access, and reserves the right to pursue civil and criminal legal liability.

7. Limitation of Liability and Disclaimers

8.1 Services Provided "As Is"

The Platform and Credit Line services are provided on an "AS IS" and "AS AVAILABLE" basis. To the maximum extent permitted by law, the Company makes no warranties, express or implied, including but not limited to warranties of merchantability, fitness for a particular purpose, or non-infringement.

8.2 No Guarantee of Continuity of the Limit

You expressly understand and agree that the Company does not guarantee the continued availability of the Credit Line, the available amount, or that any particular Withdrawal request will be approved. Limit adjustment decisions made by the Company based on internal risk policies are final.

8.3 Liability Cap

To the maximum extent permitted by law, the Company and its directors, employees, and affiliates shall not be liable for any indirect, incidental, special, or consequential damages arising from these Terms or the Credit Line (including loss of profits, loss of data, or damage to goodwill), regardless of whether such damages were foreseeable. The Company's aggregate liability (if any) shall not exceed the total interest and fees actually paid by you to the Company for the Credit Line during the twelve (12) months preceding the event giving rise to the claim.

8.4 Third-Party Services

The Platform may integrate third-party payment, KYC, or communication services. The Company is not responsible for the acts or omissions of such third parties.

8. Termination

9.1

You may terminate the Credit Line at any time by written notice to the Company after fully settling all outstanding principal, interest, and fees.

9.2

The Company may immediately terminate your Credit Line and Platform access without prior notice in the following circumstances: (a) you breach these Terms; (b) the Company reasonably suspects fraud or illegal activity; (c) legal or regulatory requirements; or (d) a material adverse change in your credit condition.

9.3

Termination does not affect the Company's right to continue pursuing claims against you arising before termination (including outstanding principal, interest, and fees), nor does it affect the validity of provisions in these Terms that by their nature should survive (including but not limited to Sections 6, 8, and 10).

9. Dispute Resolution and Governing Law

10.1

These Terms are governed by and construed in accordance with the laws of India.

10.2

Any dispute arising from these Terms or the Credit Line shall first be resolved by the parties through friendly negotiation. If negotiation fails, the dispute shall be submitted to the exclusive jurisdiction of the courts of competent jurisdiction in Bangalore, Karnataka.

10.3 Grievance Mechanism

You may raise a grievance through the following methods:

• Email: [email protected]
• Grievance Officer: The Company has appointed a grievance handling officer, whose name and contact details are published on the "Contact Us" page of the Platform.

The Company will make every effort to resolve the grievance within 30 business days after receipt.

10. Changes to Terms

The Company reserves the right to modify these Terms at any time. Material changes will be notified in advance through Platform notices or email. If you continue to use the Credit Line or the Platform after the changes take effect, you are deemed to accept the revised Terms. If you do not agree to the changes, you should stop using the services and repay all outstanding amounts before the effective date.

11. Miscellaneous

12.1 Severability

If any provision of these Terms is held invalid or unenforceable, the validity of the remaining provisions shall not be affected.

12.2 Waiver

The Company's failure or delay in exercising any right under these Terms does not constitute a waiver of that right.

12.3 Entire Agreement

These Terms, together with the Privacy Policy and the Loan Agreement, constitute the entire agreement between you and the Company regarding the Credit Line, and supersede all prior oral or written representations or agreements relating thereto.