By accessing or using the Paisa in Hand website or mobile application (the “Platform”), whether as a registered or guest user (“User”), you agree to be bound by these Terms and Conditions (“Terms of Use”) and any additional terms that may apply to specific areas of the Platform from time to time.

These Terms of Use constitute an electronic record under the Information Technology Act, 2000, and are published in accordance with Rule 3(1) of the Information Technology (Intermediaries Guidelines) Rules, 2011. We reserve the right to change these Terms of Use at any time; continued use of the Platform after such changes are posted constitutes acceptance of the modified terms.

The Platform is owned and operated by Acolyte Finserv Limited, a company registered with the Reserve Bank of India as a Non-Banking Financial Company (NBFC) under RBI Registration No. B-14.01740. Paisa in Hand is a brand owned and operated by Acolyte Finserv Limited, and all references to “the Platform”, “we”, “us”, or “the Company” in these Terms refer to this entity.

Use of the Platform is available only to persons who can legally contract under the Indian Contract Act, 1872. Persons who are incompetent to contract, including minors and un-discharged insolvents, are not eligible to register or transact on the Platform. We reserve the right to terminate any membership or refuse access if it comes to our notice that a User is under the age of 18.

To be eligible as a Borrower, a User must:

• Be a salaried or self-employed individual based in India.
• Hold a savings or current bank account denominated in Indian Rupees with a bank in India.
• Hold a valid PAN allotted by the Income Tax Department of India.
• Not have been unemployed at any point during the preceding 6 months (where applicable to the loan product).
• Not have any civil or criminal litigation pending that affects creditworthiness.
• Be seeking a loan amount and tenure within the limits specified for the relevant loan product.

By accepting these Terms, you acknowledge that you have read and understood the risks involved in borrowing through the Platform.

Any person may access the Platform either by registering or as a guest, though guest access may be restricted to certain sections. Registered Users must create an account by providing the details prescribed on the Platform. By applying for registration, you authorise us to carry out identity, KYC, and fraud checks, including residence and employment verification where required.

There is no fee charged for registration as a Borrower. If you provide information that is untrue, inaccurate, or incomplete, we reserve the right to suspend or terminate your account and refuse any current or future use of the Platform.

We grant every User a limited, non-exclusive, and revocable licence to access the Platform, provided such use does not violate these Terms. You are solely responsible for activities relating to your account and for maintaining the confidentiality of your login credentials. You must notify us without delay if you become aware of any unauthorised use or hacking of your account.

While using the Platform, you agree not to:

• Upload, publish, or share content that is unlawful, defamatory, obscene, or that infringes another person's rights.
• Impersonate any person or entity, or misrepresent your affiliation with one.
• Attempt to gain unauthorised access to the Platform, its servers, or any connected network by hacking, password mining, or similar means.
• Probe, scan, or test the vulnerability of the Platform or breach its security or authentication measures.
• Upload software viruses or any code designed to disrupt or limit the functionality of any computer resource.
• Use scraping, data-mining tools, robots, or similar techniques to extract data from the Platform.
• Use the Platform or its content for any commercial purpose other than your own loan application, or impose an unreasonable load on our infrastructure.

We may refuse to act on any instruction that is unclear, not given by the User, may cause us to breach a legal duty, or suggests the Platform is being used for an unlawful purpose. We may also suspend access to the Platform for maintenance or other reasons at our discretion, and will not be liable for losses arising from such inaccessibility where caused by circumstances beyond our reasonable control.

By submitting a loan application, you authorise us to check your credit rating with Credit Information Bureaus operating in India (including CIBIL, Experian, Equifax, TransUnion CIBIL, and Crif Highmark) to assess your creditworthiness. You acknowledge that Credit Information Bureaus link your records with those of any financial associate you have disclosed, such as a joint account-holder, and that this information may be considered while assessing your application.

If, after considering your profile, we require a co-applicant or guarantor as a condition for disbursement and you are unable to arrange one, we reserve the right to decline the loan request.

Once you have accepted a loan offer, executed the loan agreement (electronically or physically), and fulfilled all conditions for disbursement to our satisfaction, the approved amount will be credited to your registered bank account. The Platform follows a rounding-down approach for disbursement amounts – for example, if the disbursement amount after deduction of charges comes to ₹9,411.18, the amount credited will be ₹9,411, and the balance ₹0.18 will be retained by the Platform as an adjustment amount.

Depending on the loan product, the following fees and charges may apply. Applicable charges for your specific loan will always be disclosed in your sanction letter and loan agreement before you accept the offer.

Late Payment Charges

If an EMI is delayed, a late payment fee applies based on the loan amount and the length of the delay, in addition to a 2% penal interest on the overdue amount for delays beyond one month. The exact slab applicable to your loan will be specified in your loan agreement.

EMIs commence as per the date of loan disbursement. Repayment amounts are rounded up to the nearest whole rupee – for example, if a repayment amount comes to ₹3,633.40, you will be required to pay ₹3,634.

You may request a change to your repayment date by writing to us or through your Paisa in Hand account, subject to the following conditions:

• The repayment date can be changed only once in every 6 months.
• Any difference in days between the old and new repayment date will be adjusted in your next instalment amount.
• We may request justification for the change and reserve the right to decline the request at our discretion.
• Applicable charges, as listed under Fees & Charges, will apply.

You may prepay your loan in full at any time without any prepayment penalty, in line with RBI's guidelines on foreclosure charges for individual borrowers on floating-rate loans. To request prepayment, please write to us at support@paisainhand.in. Where fewer than 3 EMIs have been repaid as of the prepayment date, you will be required to pay interest for the first 3 EMIs along with the outstanding principal; where 3 or more EMIs have already been repaid, you will be liable only for the outstanding principal and interest accrued up to the prepayment date.

If you anticipate that you will be unable to make a repayment as per your schedule, please contact us promptly at support@paisainhand.in. On receiving your communication, we will explain the applicable delay charges and the options available to you.

Your loan account may be classified as “in default” if any of the following occurs:

• You fail to pay the EMI for three consecutive months.
• We receive confirmation of your death or a terminal event affecting your ability to repay.
• Other circumstances arise that, in our reasonable judgment, warrant such classification.

A default in repayment may be reported to Credit Information Bureaus and may have serious consequences for your ability to access credit in the future. In recovering dues, we will not resort to undue harassment, including contacting you at odd hours or using coercive recovery methods.

Once all your loan agreements are fully repaid, you may close your Paisa in Hand account by writing to support@paisainhand.in. We will continue to retain certain records as required by law even after closure.

We may suspend or terminate your registration, with or without notice, if you provide false information, breach these Terms, are classified under default, or if we reasonably suspect fraudulent activity, misuse of the Platform, or conduct that harms our reputation. Termination does not affect your obligation to repay any outstanding amount under an existing loan agreement.

All intellectual property on the Platform, including text, graphics, user interfaces, design, and underlying software, is owned by Acolyte Finserv Limited or its licensors. No part of this intellectual property is transferred to a User by virtue of using the Platform. You may not copy, reproduce, modify, distribute, or create derivative works from any content on the Platform without our prior written authorisation.

You agree to indemnify and hold harmless Paisa in Hand, Acolyte Finserv Limited, and their respective directors, officers, employees, and agents from any losses, claims, damages, or expenses arising out of your breach of these Terms, your misuse of the Platform, or your violation of any third party's rights.

To the fullest extent permitted by law, Paisa in Hand and its affiliates shall not be liable for any special, incidental, indirect, or consequential damages, including loss of data or profits, arising out of or in connection with your use of, or inability to use, the Platform.

If you wish to raise a complaint regarding your loan or the Platform, you can write to us with your account reference and a brief description of the issue. We aim to acknowledge complaints within 1 working day and respond within 5 working days. Full details of our escalation matrix are available on our Grievance Redressal page.

These Terms of Use are governed by the laws of India. Courts in New Delhi shall have exclusive jurisdiction over any matters arising in connection with these Terms. Where a dispute is not resolved amicably within 15 calendar days of written notice, it shall be referred to a sole arbitrator appointed by the Company, under the Arbitration and Conciliation Act, 1996, with the seat of arbitration in New Delhi and proceedings conducted in English.

We will not be held liable for any delay or failure to perform our obligations under these Terms where such delay or failure results from circumstances beyond our reasonable control, including acts of God, natural disasters, war, civil unrest, utility or communication failures, hacking or cyber-attacks, or any government order having the force of law.

• Notice– Notices to Users will be sent by email or by general notification on the Platform. Notices to us should be sent to support@paisainhand.in.
• Assignment– You may not assign or transfer your rights under these Terms. We may assign our obligations to a third party without requiring your prior consent.
• Severability– If any provision of these Terms is held invalid, the remaining provisions will continue in full force and effect.
• Waiver– A failure or delay in enforcing any provision of these Terms will not be treated as a waiver of that provision or any related right.