Loanify Finance
(A unit of Lonify Takecare Services Association)

Effective Date: 1-April-2026

Welcome to Loanify Finance.

Loanify Finance is a financial service initiative operated by Lonify Takecare Services Association, a Section 8 Microfinance Company registered in Jaipur, Rajasthan.

These Terms & Conditions (“Terms”) govern your access and usage of our website www.loanify.in (“Website”) and the financial services provided by Loanify Finance.

By accessing our Website, submitting a loan application, accepting a loan sanction, signing a loan agreement, or availing any services provided by Loanify Finance, you acknowledge that you have read, understood, and agreed to these Terms & Conditions.

If you do not agree with these Terms, you are advised not to use our Website or services.

Loanify Finance reserves the right to modify these Terms from time to time. Any updated Terms shall become effective once published on our Website.

1. DEFINITIONS

For the purpose of these Terms:

“Company”, “Loanify”, “We”, “Us”, “Our” refers to Loanify Finance, a unit of Lonify Takecare Services Association.

“Customer”, “Borrower”, “User”, “You” refers to any individual accessing our Website, applying for a loan, or availing services from Loanify Finance.

“Services” refers to loan application processing, verification, loan sanction, disbursement, repayment management, and related financial services.

2. ELIGIBILITY

By applying for a loan through Loanify Finance, you confirm that:

• You are an Indian citizen.
• You are at least 18 years of age.
• You are legally competent to enter into a contract under the Indian Contract Act, 1872.
• You maintain an active bank account in India.
• You possess valid KYC documents.
• You have a valid PAN issued by the Income Tax Department of India.
• You have provided true and correct information.

Loanify Finance reserves the right to reject or discontinue services if eligibility requirements are not fulfilled.

3. LOAN APPLICATION PROCESS

Customers may apply for loans through our Website by submitting the required details and documents.

Submission of an application does not guarantee loan approval.

Each application undergoes:

• Identity verification
• KYC verification
• Employment verification
• Income assessment
• Bank statement analysis
• Credit bureau assessment
• Internal risk evaluation

Approval or rejection shall be at the sole discretion of Loanify Finance.

4. CUSTOMER INFORMATION AND DOCUMENTS

Customers may be required to provide:

• Full Name
• Contact Details
• Email Address
• Residential Address
• Employment Details
• Salary/Income Information
• PAN/KYC Documents
• Bank Statements
• Other information required for evaluation

The customer confirms that all submitted information and documents are genuine, correct, and updated.

Submission of incorrect, false, edited, or misleading documents may result in rejection, cancellation, recall of loan, or appropriate action under applicable law.

5. CREDIT BUREAU CHECK AND CUSTOMER CONSENT

By submitting a loan application, the customer authorizes Loanify Finance to access credit information from authorized Credit Information Companies.

This may include:

• CRIF High Mark
• Experian
• Other authorized credit bureaus

Credit reports may be used for:

• Creditworthiness assessment
• Repayment behaviour analysis
• Fraud prevention
• Risk evaluation
• Loan approval decisions

The customer understands that loan approval is subject to Loanify Finance’s internal credit policy.

6. RIGHT TO APPROVE OR REJECT LOAN APPLICATION

Loanify Finance reserves the absolute right to approve, reject, hold, or cancel any loan application at any stage.

Reasons for rejection may include, but are not limited to:

• Unsatisfactory credit profile
• Low creditworthiness
• Existing overdue loans
• Multiple active borrowings
• High financial obligations
• Poor repayment history
• Employment instability
• Insufficient income
• Negative bureau observations
• Incorrect information
• Fake or edited documents
• Suspicious transactions
• Internal risk assessment outcome

Loanify Finance is not obligated to approve any loan merely because an application has been submitted.

7. NO GUARANTEE OF RE-LOAN APPROVAL

Successful repayment of a previous loan does not guarantee approval of future loans.

Every re-loan request shall be treated as a fresh application.

Approval depends upon:

• Current credit report
• Income status
• Active loans
• Repayment behaviour
• Current liabilities
• Internal lending criteria

Loanify Finance may reject a re-loan application even if previous loans were successfully closed.

8. LOAN SANCTION AND APPROVAL

If an application is approved, Loanify Finance may issue a sanction communication containing:

• Approved loan amount
• Interest details
• Charges
• Repayment schedule
• Loan terms

Customer acceptance of sanction terms is mandatory before proceeding.

Any verbal communication or discussion shall not be considered final approval unless official sanction confirmation is issued by Loanify Finance.

9. SANCTION CANCELLATION BEFORE DISBURSEMENT

Loanify Finance reserves the right to withdraw or cancel approval before disbursement if:

• Verification fails
• Incorrect information is found
• Documents are incomplete
• Customer does not complete formalities
• Credit profile changes
• Fraud risk is identified
• Customer fails to complete eSign/NACH requirements

A sanction communication does not create an unconditional obligation to disburse funds.

10. LOAN AGREEMENT AND ESIGN

Before disbursement, customers must execute the Loan Agreement.

Loanify Finance may provide digital signing facilities through authorized eSign partners.

By signing electronically, the customer confirms:

• They have read the agreement.
• They understand repayment obligations.
• They voluntarily accept loan terms.

Digitally executed agreements shall be valid as permitted under applicable laws.

11. NACH / REPAYMENT AUTHORIZATION

Customers may be required to complete NACH or repayment authorization.

The customer agrees:

• To maintain sufficient balance.
• To honour repayment instructions.
• Not to intentionally block repayment.

Failure of automated repayment does not remove repayment liability.

12. LOAN DISBURSEMENT

Loan disbursement shall happen only after:

• Approval completion
• Verification completion
• Agreement execution
• Required authorizations

Loanify Finance reserves the right to stop disbursement if concerns arise before fund transfer.

13. REPAYMENT RESPONSIBILITY

The borrower agrees to repay:

• Principal amount
• Applicable interest
• Charges mentioned in loan documents
• Other contractual dues

within the agreed repayment timeline.

Financial difficulties, personal issues, employment changes, or other circumstances do not automatically remove repayment obligations.

14. DELAYED PAYMENT AND DEFAULT

The borrower agrees to repay all dues strictly as per the repayment schedule mentioned in the Loan Agreement.

Failure to make repayment on or before the due date shall be considered a default under the Loan Agreement.

In case of default, Loanify Finance may initiate appropriate actions including but not limited to:

• Sending payment reminders
• Contacting the borrower for repayment follow-up
• Applying applicable overdue charges as per Loan Agreement
• Initiating recovery procedures
• Issuing legal notices
• Taking appropriate remedies available under applicable law

The borrower acknowledges that repayment of borrowed funds is a contractual obligation and delay or inability to repay does not automatically waive the outstanding liability.

Loanify Finance encourages borrowers facing genuine repayment difficulties to proactively communicate with the Company for available resolution options.

15. LOAN TERMINATION AND RECALL RIGHTS

Loanify Finance reserves the right to terminate the loan facility and demand immediate repayment of outstanding dues in case of:

• Non-payment or delayed payment
• Breach of Loan Agreement terms
• Providing incorrect or misleading information
• Submission of fake, edited, or manipulated documents
• Concealing existing liabilities
• Misrepresentation of employment or income details
• Fraudulent activity
• Failure to cooperate during verification
• Violation of applicable laws

Upon termination or recall of the loan, the borrower shall remain liable to pay:

• Outstanding principal
• Applicable interest
• Charges mentioned in Loan Agreement
• Recovery expenses wherever applicable
• Legal costs wherever applicable

Termination of services shall not affect the repayment obligations already created under the Loan Agreement.

16. RECOVERY PROCESS

Loanify Finance believes in ethical, professional, and lawful recovery practices.

In case of non-payment/default, Loanify Finance may initiate recovery actions through:

• Internal recovery team
• Authorized recovery partners/agencies
• Legal representatives
• Other lawful methods available

Recovery actions may include:

• Communication through calls, SMS, WhatsApp, email, or letters
• Sending repayment reminders
• Settlement discussions
• Legal notices
• Initiation of appropriate legal proceedings

Loanify Finance and its authorized representatives shall follow applicable laws and regulatory guidelines while undertaking recovery activities.

The borrower agrees to cooperate and communicate with Loanify Finance for resolving outstanding dues.

17. CUSTOMER RESPONSIBILITIES

The customer agrees:

• To provide true and complete information
• To submit genuine documents
• To update any change in contact details, address, or employment information
• To maintain communication with Loanify Finance regarding active loans
• To repay dues as per agreed schedule
• To immediately report unauthorized activity relating to their loan account

The customer shall not:

• Provide false information
• Submit forged documents
• Hide existing financial liabilities
• Misuse Loanify Finance services
• Engage in fraudulent activity

18. FRAUD, MISREPRESENTATION AND DOCUMENT MANIPULATION

Loanify Finance maintains strict policies against fraudulent activities.

Any of the following actions may result in rejection, loan cancellation, recall of loan, or appropriate legal remedies:

• Fake identity submission
• Edited/manipulated bank statements
• Incorrect salary information
• False employment details
• Forged documents
• Concealing existing loans/defaults
• Misleading declarations

Loanify Finance reserves the right to report fraudulent activities to appropriate authorities wherever legally required or permitted.

19. COMMUNICATION CONSENT

By submitting a loan application or availing Loanify Finance services, you consent to receive communication through:

• Phone calls
• SMS
• WhatsApp messages
• Emails
• Other electronic communication channels

Such communication may relate to:

• Loan application status
• Verification
• Documentation
• Loan servicing
• Payment reminders
• Customer support
• Important updates

The customer agrees to keep contact details updated during the loan relationship.

20. THIRD-PARTY SERVICE PROVIDERS

Loanify Finance may use authorized third-party service providers for:

• Credit bureau verification
• KYC verification
• eSign services
• NACH/payment processing
• Technology support
• Customer verification
• Legal assistance
• Recovery support

Customer information may be shared with such service providers only for legitimate business requirements and service completion.

21. WEBSITE USAGE CONDITIONS

Customers agree to use the Loanify Finance website only for lawful purposes.

Users shall not:

• Attempt unauthorized access
• Interfere with website operations
• Upload harmful files or malicious content
• Copy or misuse website material
• Use the website for fraudulent purposes

Loanify Finance reserves the right to restrict website access in case of misuse.

22. INTELLECTUAL PROPERTY RIGHTS

All content available on the Loanify Finance website including:

• Brand name
• Logo
• Text
• Design
• Graphics
• Website layout
• Processes
• Digital content

belongs to Loanify Finance/Lonify Takecare Services Association.

Users are not permitted to copy, reproduce, distribute, modify, or commercially use any content without written permission.

Unauthorized usage may result in appropriate action.

23. THIRD-PARTY LINKS

Our Website may contain links or integrations with third-party service providers.

Loanify Finance does not control third-party websites and shall not be responsible for:

• Third-party content
• Service interruptions
• Technical failures
• Privacy practices of external websites

Users are advised to review third-party terms separately.

24. DISCLAIMER OF WARRANTIES

Loanify Finance provides services on an “as available” basis.

Loanify Finance does not guarantee:

• Approval of any loan application
• Availability of specific loan amount
• Continuous availability of website services
• Approval of repeat loans

Loan decisions are based solely on eligibility, verification, risk assessment, and internal policies.

25. LIMITATION OF LIABILITY

Loanify Finance shall not be responsible for losses arising due to:

• Incorrect information provided by customers
• Customer failure to complete documentation
• Third-party service delays
• Technical interruptions
• Network failures
• Events beyond reasonable control

Loanify Finance shall not be liable for indirect or consequential damages arising from website usage.

26. INDEMNIFICATION

The customer agrees to indemnify and hold harmless Loanify Finance, Lonify Takecare Services Association, its officers, representatives, employees, and partners against claims, losses, damages, liabilities, or expenses arising due to:

• Violation of these Terms
• Incorrect information provided by customer
• Fraudulent activity
• Breach of Loan Agreement
• Violation of applicable laws

27. FORCE MAJEURE

Loanify Finance shall not be liable for delay or failure in performance caused by circumstances beyond reasonable control including:

• Natural disasters
• Government restrictions
• Technical failures
• Internet/network interruptions
• Regulatory changes
• Events beyond control of the Company

28. MODIFICATION OF TERMS

Loanify Finance reserves the right to update, change, add, or remove portions of these Terms & Conditions at any time.

Updated Terms shall be published on our Website.

Continued usage of services after updates shall indicate acceptance of revised Terms.

29. GOVERNING LAW AND JURISDICTION

These Terms shall be governed by the laws of India.

Any disputes arising from usage of Loanify Finance services, loan transactions, or related agreements shall be subject to the jurisdiction mentioned in the applicable Loan Agreement and competent courts under Indian law.

30. CONTACT INFORMATION

For queries, support, or concerns:

Loanify Finance
(A unit of Lonify Takecare Services Association)

Email: info@loanify.in

Working Hours:
Monday – Saturday
10:00 AM – 7:00 PM

CUSTOMER ACKNOWLEDGEMENT

By accessing the Website, submitting a loan application, accepting a sanction, executing the Loan Agreement, or availing Loanify Finance services, you confirm that:

• You have read these Terms & Conditions.
• You understand your rights and obligations.
• You voluntarily agree to comply with these Terms.
• You understand that loan approval and future lending decisions remain subject to Loanify Finance policies.