Terms and Conditions

1. Acceptance of Terms

By accessing and using EasyEMILoans' services, you accept and agree to be bound by the terms and provision of this agreement. If you do not agree to abide by the above, please do not use this service.

2. Service Description

EasyEMILoans provides comprehensive EMI loan services, including:

• Personal EMI loans for individual financial needs
• Education EMI loans for students and families
• Business EMI loans for entrepreneurs and companies
• EMI calculator tools and financial planning assistance
• After-sales support and customer service
• Loan application processing and approval services
• Financial advisory and consultation services

3. Eligibility Requirements

To qualify for our EMI loan services, you must meet the following criteria:

• Be at least 21 years of age for personal loans
• Be at least 18 years of age for education loans
• Be an Indian citizen or resident
• Have a valid bank account in your name
• Meet minimum income requirements (varies by loan type)
• Provide valid identity and address proof
• Have a good credit history or provide guarantor
• Meet our creditworthiness assessment criteria

4. EMI Loan Terms and Conditions

Our EMI loan terms include:

• Loan amounts: ₹25,000 to ₹50,00,000 (varies by loan type)
• Interest rates: 10% to 24% per annum (based on credit profile)
• Processing fees: 1% to 3% of loan amount (non-refundable)
• Loan tenure: 6 months to 84 months
• EMI payments due on the same date each month
• Late payment charges: ₹500 per month + interest
• Prepayment charges: 2% to 4% of outstanding principal
• Processing time: 2 to 7 business days

5. Application and Approval Process

Our loan application process includes:

• Online application form submission
• Document verification and KYC process
• Credit assessment and income verification
• Bank account verification
• Employment and business verification
• Approval decision within 2-7 business days
• Loan agreement signing and disbursal
• EMI schedule setup and payment instructions

6. Payment and EMI Management

EMI payment terms and conditions:

• EMI payments are due on the same date each month
• Auto-debit facility available for convenience
• Multiple payment options: NEFT, UPI, debit card, net banking
• Grace period: 5 days from due date
• Late payment fees apply after grace period
• Default consequences: legal action and credit bureau reporting
• Early repayment discounts available for some loan types
• EMI calculator tools provided for planning

7. Required Documents

You must provide the following documents:

• Identity proof: PAN card, Aadhaar card, or driving license
• Address proof: utility bills, bank statements, or rental agreement
• Income proof: salary slips, bank statements, or IT returns
• Employment proof: appointment letter or business registration
• Bank account statements (last 6 months)
• Passport size photographs
• Additional documents may be required based on loan type

8. Interest Rates and Fees

Our fee structure includes:

• Processing fee: 1% to 3% of loan amount (non-refundable)
• Interest rates: 10% to 24% per annum (based on credit profile)
• Late payment fee: ₹500 per month + applicable interest
• Bounce charges: ₹500 per failed transaction
• Prepayment charges: 2% to 4% of outstanding principal
• Legal charges: Actual costs in case of default
• No hidden charges or additional fees

9. Data Collection and Privacy

We collect and process personal information as described in our Privacy Policy to provide our EMI loan services. By using our services, you consent to our data practices and agree to our Privacy Policy, which is incorporated into these terms by reference.

10. User Responsibilities

You agree to:

• Provide accurate and complete information
• Keep your contact details updated
• Make timely EMI payments as per the schedule
• Notify us immediately of any changes in circumstances
• Use the loan amount for legitimate purposes only
• Comply with all applicable laws and regulations
• Not provide false information or misrepresent your identity
• Maintain confidentiality of your account credentials

11. Default and Recovery

Default consequences:

• Payment overdue for more than 30 days constitutes default
• Credit bureau reporting for default accounts
• Legal action may be initiated for recovery
• Collection agency involvement for overdue accounts
• Asset attachment and bank account freezing
• Legal costs to be borne by the borrower
• Impact on future credit eligibility
• Guarantor liability in case of default

12. EMI Calculator Tool

Our EMI calculator terms:

• Calculator results are estimates only
• Actual EMI may vary based on final approval terms
• Interest rates used are indicative and subject to change
• Processing fees and other charges not included in calculations
• Users should verify calculations with our team
• Calculator is provided for planning purposes only

13. Limitation of Liability

EasyEMILoans shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from your use of our services. Our total liability shall not exceed the amount of the loan disbursed to you.

14. Changes to Terms

We reserve the right to modify these terms at any time. Changes will be posted on our website and will become effective immediately. Your continued use of our services after changes constitutes acceptance of the modified terms.

15. Governing Law

These terms and conditions are governed by and construed in accordance with the laws of India. Any disputes arising from these terms or our services shall be subject to the exclusive jurisdiction of the courts in Bangalore, India.

16. Contact Information

For questions about these Terms and Conditions, please contact us: