This Loan Agreement (“Agreement”) sets out the terms under which loan products are made available through the Neesan Rupee mobile application (“App”). By submitting a loan request or accepting an approved offer, the borrower agrees to comply with the conditions described in this Agreement.
The lending services available in the App are provided by:
NEESAN INVESTMENT AND FINANCE LIMITED
Address: 54-55 Shyam Bhawan Bagh Diwar Fatehpuri, Delhi, India – 110006
CIN: U74899DL1995PLC066518
NBFC Registration Number: B-14.02043
Email: services@neesaninvestment.com
Phone: +91 9315691465
Loan Amount: ₹10,000 – ₹200,000
Loan Duration: 91 – 360 days
Maximum APR: 26%
Processing Fee: 2% of the loan amount
GST on Processing Fee: 18%
Processing fee and GST are deducted at the time of disbursement. Interest is calculated on the full approved loan principal.
For a loan of ₹10,000 with a tenure of 180 days:
Processing Fee: ₹10,000 × 2% = ₹200
GST on Fee: ₹200 × 18% = ₹36
Amount Received: ₹10,000 – ₹200 – ₹36 = ₹9,764
Interest: ₹10,000 × 26% ÷ 365 × 180 = ₹1,282
Total Repayment: ₹11,282
This example is only to explain the calculation method. Actual loan terms will be displayed in the App before confirmation.
The final loan amount, tenure, and repayment schedule are those shown in the App at the time the borrower accepts the offer. The loan becomes effective only after digital confirmation by the borrower and approval by the lender.
The borrower agrees that:
All information provided in the App is true and complete.
The loan will be repaid according to the schedule displayed in the App.
The lender is authorized to verify identity, credit history, and repayment capacity through lawful channels.
The borrower has read and understood all costs before accepting the loan.
Repayments must be made on or before the due dates shown in the App.
Any delay may attract additional charges or overdue interest as permitted by law.
Borrowers may choose to repay earlier than the scheduled date subject to the options provided in the App.
If repayment is not made as agreed:
The lender may apply overdue charges in accordance with applicable regulations.
The lender may report the default to authorized credit bureaus.
Lawful recovery steps may be initiated where necessary.
The approved loan amount (after deduction of applicable fees) will be transferred to the verified bank account of the borrower.
A clear repayment schedule will be made available within the App.
Borrower information will be handled in accordance with the Privacy Policy and applicable laws.
The borrower must be 20–60 years of age and legally capable of entering into this Agreement.
Loan funds should be used only for lawful purposes.
In situations that affect repayment ability, the borrower should inform the lender promptly.
Any modification to these terms will be communicated through the App. Continued use of the service after such communication will be considered acceptance of the updated terms.
By proceeding with the loan application in the App, the borrower confirms voluntary acceptance of this Agreement and acknowledges responsibility for all obligations arising from the loan.
NEESAN INVESTMENT AND FINANCE LIMITED
Email: services@neesaninvestment.com
Phone: +91 9315691465