EasyRateLoans: Terms and Conditions

Last Updated: August 28, 2025

Welcome to EasyRateLoans! These Terms and Conditions ("Terms") govern your access to and use of the EasyRateLoans web-based platform and its associated services (collectively, the "Platform"). Please read these Terms carefully before using the Platform. By accessing or using the Platform, you agree to be bound by these Terms and our Privacy Policy. If you do not agree to these Terms, please do not use our Platform.

1. Introduction to EasyRateLoans

• Our Role: EasyRateLoans acts solely as a Lending Service Provider (LSP) and/or an Account Aggregator (AA) for our Lending Partners. We facilitate the loan discovery, assessment, and application process. EasyRateLoans is not a lender, and we do not directly disburse loans or make credit decisions. All lending decisions, loan disbursements, and repayments are solely the responsibility of the respective Lending Partners.
• Our Mission: To empower Borrowers with transparent choices and personalized guidance in the loan application process, especially focusing on underserved segments in Tier-2/3 cities and vernacular language speakers in India.

2. Eligibility for Use

• Be a resident of India.
• Be at least 18 years of age.
• Be legally capable of entering into a binding contract.
• Comply with all applicable laws and regulations.
• Provide accurate, complete, and truthful information during registration and throughout your use of the Platform.

3. How the EasyRateLoans Platform Works

• Information Collection: To provide you with relevant loan offers, we will collect certain personal and financial information as detailed in our Privacy Policy and with your explicit consent. This may include your name, mobile number (verified via OTP), PAN, employment type, monthly income, and with your consent, data fetched via the Account Aggregator (AA) framework (e.g., bank account transactions, GST returns for MSMEs).
• AI-Powered Matching: Our AI engine analyzes your profile and the criteria of our Lending Partners to present you with indicative and/or pre-qualified loan offers that are most likely to suit your needs and for which you have a higher probability of approval.
• Transparency of Offers: For every loan offer displayed, we commit to providing a "Total Cost of Loan" calculation and the Annual Percentage Rate (APR) to ensure complete transparency of all associated costs.
• Application Submission: If you choose an offer, we will facilitate the submission of your application to the relevant Lending Partner. The final approval, terms, and disbursement of the loan are at the sole discretion of the Lending Partner.
• Direct Fund Flow: All loan disbursements will flow directly from the Lending Partner's bank account to your verified bank account. Similarly, all repayments (including EMIs) will be debited directly from your account and credited to the Lending Partner's account. EasyRateLoans will not be involved in the fund flow of principal or interest amounts.

4. Data Privacy and Consent

• DPDP Act Compliance: We operate in strict adherence to the Digital Personal Data Protection (DPDP) Act, 2023.
• Explicit Consent: We will always obtain your explicit, granular, and informed consent before collecting, processing, or sharing your personal data. You will be provided with clear notice regarding what data is collected, why it's collected, its retention period, and how you can exercise your rights.
• Data Minimization: We only collect data that is absolutely essential for each specific stage of the loan process. We are explicitly barred from accessing sensitive user data on mobile devices, such as contact lists, photo galleries, or files.
• User Rights: You retain the right to access a summary of your personal data, request correction of inaccurate data, and withdraw your consent for data processing at any time, all through your user dashboard.
• Security: All data is encrypted both in transit (using TLS 1.3) and at rest (using AES-256). Sensitive Personally Identifiable Information (PII) is stored in an encrypted and tokenized format. We enforce strict Role-Based Access Control (RBAC) and conduct regular security audits and penetration testing.

5. Lending Partner Responsibilities

• Credit Decisions: Lending Partners are solely responsible for all credit assessments, underwriting, approval, and rejection decisions. EasyRateLoans does not influence these decisions.
• Key Fact Statement (KFS): Lending Partners are mandated to provide you with a standardized, digitally signed Key Fact Statement (KFS) via API before the loan contract is executed, detailing all crucial loan parameters.
• Grievance Redressal: While EasyRateLoans provides an integrated grievance redressal system, the primary responsibility for resolving loan-specific complaints lies with the Lending Partner. We will facilitate the escalation of unresolved complaints to the appropriate Lending Partner's grievance officer and, if necessary, to the RBI's Integrated Ombudsman Scheme.

6. Fees and Charges

• No Direct Fees to Borrowers (from EasyRateLoans): EasyRateLoans will not charge any fees directly to the Borrower for facilitating the loan application or matching services. Any fees payable to EasyRateLoans are settled directly between EasyRateLoans and its Lending Partners, as per RBI Digital Lending Directions.
• Lender-Specific Charges: Lending Partners may levy their own fees (e.g., processing fees, stamp duty, insurance charges, penal charges, prepayment/foreclosure charges) as part of the loan agreement. These charges will be clearly outlined in the Key Fact Statement (KFS) provided by the Lending Partner.

7. Grievance Redressal

• Integrated System: EasyRateLoans provides an integrated grievance redressal system accessible from your user dashboard.
• Nodal Grievance Redressal Officer: EasyRateLoans has appointed a Nodal Grievance Redressal Officer whose details will be prominently displayed on the Platform.
• Escalation Matrix: If your complaint is not resolved within the stipulated time, you can escalate it through the provided channels, including to the Lending Partner's grievance officer and, subsequently, to the RBI's Integrated Ombudsman Scheme.

8. Disclaimers and Limitation of Liability

• No Guarantee of Loan Approval: EasyRateLoans does not guarantee that you will receive a loan or credit card. All approvals are subject to the Lending Partner's internal policies and credit assessment.
• Information Accuracy: While we strive to provide accurate and up-to-date information, EasyRateLoans does not warrant the completeness, reliability, or accuracy of any information presented on the Platform. We advise you to independently verify all information with the respective Lending Partner before making any financial decisions.
• Third-Party Links: The Platform may contain links to third-party websites or services. EasyRateLoans is not responsible for the content, privacy policies, or practices of any third-party websites or services.
• Limitation of Liability: To the maximum extent permitted by law, EasyRateLoans shall not be liable for any direct, indirect, incidental, special, consequential, or punitive damages, or any loss of profits or revenues, whether incurred directly or indirectly, or any loss of data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the Platform; (ii) any conduct or content of any third party on the Platform; or (iii) unauthorized access, use, or alteration of your transmissions or content.

9. Changes to Terms and Conditions

EasyRateLoans reserves the right to modify or revise these Terms at any time. We will notify you of any changes by posting the updated Terms on our Platform and updating the "Last Updated" date. Your continued use of the Platform after such modifications constitutes your acceptance of the revised Terms.

10. Governing Law and Jurisdiction

These Terms shall be governed by and construed in accordance with the laws of India. Any disputes arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the courts located in Hyderabad, Telangana, India.

11. Contact Information

If you have any questions about these Terms, please contact us through the methods provided on our Platform.