Terms and Conditions

These Terms and Conditions ("Terms") are issued by Innopay Money ("Company", "Innopay Money", "we", "us", "our"), and govern access to and use of the website at www.innopaymoney.com and the "Innopay Money" mobile application (together, the "Platform") by any person accessing or using it ("User", "you", "your").

Innopay Money operates purely as a Lending Service Provider ("LSP"). We do not lend money, nor do we sanction, underwrite, price, or hold on its own books any loan facilitated through the Platform. These functions are carried out exclusively by the RBI-regulated bank(s) and/or non-banking financial companies engaged as Innopay Money's Lending Partner(s) (each, an "RE"), whose names are published on the Platform and updated from time to time. Innopay Money's role is limited to sourcing, technology, application-facilitation, and servicing-support functions performed on the instructions of, and under agreement with, its Lending Partner(s).

This document is an electronic record under the Information Technology Act, 2000, amendments thereof from time to time and the framed rules thereunder as applicable and the amended provisions pertaining to electronic records in various statutes as amended, and does not require any physical or digital signature. By clicking 'I Agree', 'Submit', or any similar acknowledgement on the Platform, you confirm that you have read, understood, and agree to be bound by these Terms. If you do not agree to these Terms, please discontinue use of the Platform.

We may amend these Terms at any time by posting the updated version on the Platform. The updated version of the Terms shall take effect immediately upon posting the updated version on the Platform. Continued use after such posting constitutes acceptance of the updated Terms. As long as you comply with these Terms, we grant you a personal, non-exclusive, non-transferable, limited privilege to enter and avail the services of the LSP.

"Account"

means the registered user profile created by a User on the Platform;

"Annual Percentage Rate (APR)"

means the annual cost of borrowing or income from investing, including fees, without compounding interest;

"Borrower"

means a User who has applied for, or been sanctioned, a Loan through the Platform;

"Credit Information Company / Bureau"

means an entity such as CIBIL, Experian, Equifax, or CRIF High Mark, licensed under the Credit Information Companies (Regulation) Act, 2005, through which creditworthiness data is obtained;

"Cooling-off Period"

means the period, of not less than one (1) day from disbursement (or such longer period as disclosed in the applicable KFS), during which a Borrower may exit a Loan by repaying only the principal amount and proportionate charges, without penalty, in accordance with the RBI (Digital Lending) Directions, 2025;

"Digital Lending App (DLA)"

means the mobile and/or web-based application through which digital lending services are offered, including the Innopay Money Platform, reported to RBI's Centralised Information Management System (CIMS) by the relevant Lending Partner;

"Key Fact Statement (KFS)"

means the standardised, digitally signed statement disclosing all material terms of a Loan including the Annual Percentage Rate (APR), fees, charges, and repayment schedule, provided to the Borrower before Loan execution;

"Lending Partner / RE"

means the RBI-regulated bank or non-banking financial company that sanctions, funds, and owns a Loan facilitated through the Platform;

"Loan"

means any credit facility applied for by a Borrower and sanctioned and disbursed by a Lending Partner through the Platform;

"Loan Agreement"

means the binding agreement executed between a Borrower and the relevant Lending Partner governing a specific Loan;

"LSP (Loan/Lending Service Provider)"

means an agent engaged by an RE to perform one or more lending-related functions — such as sourcing, KYC facilitation, underwriting support, servicing, or recovery support on the RE's behalf. Innopay Money's role under these Terms is that of an LSP only;

"Platform"

means the Innopay Money website and mobile application, collectively;

"Privacy Policy"

means the Company's separate policy governing collection, use, storage, and disclosure of personal data, incorporated into these Terms by reference;

"RBI"

means the Reserve Bank of India;

"Services"

means the loan-discovery, application-facilitation, servicing-support, and related technology services provided by the Company through the Platform, in its capacity as LSP; and

"User"

means any person who accesses or uses the Platform, whether as a guest or a registered Borrower.

2.1 The Company is not a bank or NBFC. It does not, in its own capacity, sanction Loans, hold Loans on its own books, or independently set interest rates or fees.

2.2 All credit decisions including approval, Loan amount, tenure, interest rate, fees, and rejection are made exclusively by the relevant Lending Partner, in accordance with its own credit and risk policies. The Company has no discretion over, and makes no representation or guarantee regarding, the approval or final commercial terms of any Loan.

2.3 Where the Platform presents offers from more than one Lending Partner, the Company will disclose the identity of each Lending Partner and present all eligible offers transparently, without manipulating ranking except by reference to a publicly disclosed, objective metric.

2.4 All Loan disbursements and repayments occur directly between the Borrower and the Lending Partner's bank account. No amount is, at any point, routed through a pooled or pass-through account controlled by the Company.

3.1 Use of the Platform is available only to persons competent to contract under the Indian Contract Act, 1872. Minors and persons otherwise incompetent to contract may not register or transact on the Platform.

3.2 To register and apply for a Loan, a User must: (a) be at least 18 years of age; (b) be an Indian citizen and resident of India; (c) hold a rupee-denominated bank account in India in their own name; (d) hold a valid PAN and Aadhaar (or other RBI/UIDAI-approved identity document); and (e) meet the minimum income/creditworthiness and other eligibility criteria prescribed by the applicable Lending Partner for the relevant product.

3.3 Meeting these criteria does not guarantee Loan approval; eligibility is independently and finally assessed by the relevant Lending Partner.

4.1 Users must register with accurate, current, and complete information, including a mobile number verified by OTP to avail the full spectrum of services offered by Innopay. Users are solely responsible for the confidentiality of their login credentials and all activity under their Account. You are also required to keep your account details, KYC details and contact information complete and updated at all times.

4.2 By registering, Users authorise the Company and its Lending Partner(s) to carry out identity verification, KYC checks (including Aadhaar-based e-KYC/DigiLocker, PAN validation, bank-account verification, and video-KYC where applicable), and to obtain a credit report from a Credit Information Company.

4.3 If a User provides information that is untrue, outdated, or incomplete, the Company may suspend or terminate the relevant Account and refuse further access to the Platform.

4.4 Users must notify the Company immediately at support@innopay.in or contact the grievance redressal officer, using the details mentioned in Clause 14, if they suspect unauthorised access to their Account.

5.1 A User may apply for a Loan by completing the in-app application and providing the requested documents and bank details.

5.2 The application is shared with the relevant Lending Partner(s) for underwriting. Before accepting any offer, the User will be shown a KFS disclosing the total amount payable, APR, all fees and charges, the repayment schedule, and the identity of the Lending Partner. The User should read the KFS carefully as it forms part of the binding Loan Agreement.

5.3 A digitally executed Loan Agreement, on the Lending Partner's letterhead, will be sent to the Borrower's registered email/SMS upon sanction and before disbursement.

5.4 Upon execution of all required documents, the sanctioned amount is disbursed by the Lending Partner directly to the Borrower's bank account. Disbursement timelines shown on the Platform are indicative only and depend on the Lending Partner's processes.

5.5 The flow of funds between the User and the Lending Partner(s) shall not be controlled, either directly or indirectly, by any third party, including the Company.

All fees are set by, and payable to, the relevant Lending Partner (or its designated collection arrangement), not the Company, and are always disclosed in the KFS before a Loan is accepted. No fee not disclosed in the KFS may be charged.

7.1 Borrowers must repay strictly per the KFS/Loan Agreement schedule, by the mode(s) specified (e.g., auto-debit/NACH, UPI Autopay, or manual payment).

7.2 Every Borrower is entitled to a Cooling-off Period of at least one (1) day from disbursement, during which the Loan may be exited by repaying principal and proportionate APR charges only, without penalty, as disclosed in the KFS.

7.3 Late repayment attracts the late/penal charges disclosed in the KFS and may be reported to Credit Information Companies, which may adversely affect the Borrower's credit score.

8.1 In the event of default, recovery is carried out only by the relevant Lending Partner or recovery agents authorised in writing by it, in accordance with RBI's Fair Practices Code and the Digital Lending Directions, 2025.

8.2 Before any recovery agent makes contact, the Borrower will be informed in advance of the agent's identity and contact details.

8.3 Recovery communication will take place only between 8:00 a.m. and 7:00 p.m., and must not involve intimidation, harassment, or misrepresentation of authority.

9.1 Personal and financial information is collected, used, and disclosed strictly in accordance with the Privacy Policy, incorporated herein by reference.

9.2 Data is shared only with the Lending Partner(s) a User applies to, KYC/verification utilities, Credit Information Companies, regulators, and service providers bound by confidentiality obligations and never sold to third parties.

9.3 Users may request access to, correction of, or deletion of their personal data (subject to statutory retention requirements) by writing to the Grievance Officer (Clause 14).

Users must not, while using the Platform:

• upload or transmit content that is unlawful, defamatory, obscene, or infringes any third party's rights, including intellectual property;
• impersonate any person or misrepresent their affiliation with any entity;
• attempt unauthorised access to the Platform, or probe, scan, or test its security;
• upload viruses or code designed to disrupt the Platform's functioning; or
• use the Platform or its content for any commercial purpose other than availing the Services.

11.1 All intellectual property in the Platform including the "Innopay Money" trademark, design, software, and content belongs exclusively to the Company or its licensors. Users are granted a limited, non-exclusive, revocable licence to use the Platform solely to avail the Services, and may not copy, reverse-engineer, or create derivative works from it.

11.2 You acknowledge that any feedback, comment, suggestion, you may provide regarding the Platform or its services are entirely voluntary, and the Company will be free to use such feedback, comments, or suggestions, as it sees fit and without any obligation to You.

12.1 The Company facilitates access to third-party Lending Partners and does not guarantee Loan approval, disbursement timelines, or continued availability of any Lending Partner or offer.

12.2 To the maximum extent permitted by law, the Company shall not be liable for indirect, incidental, or consequential damages, or for any act, omission, credit decision, or recovery practice of a Lending Partner, save where such liability arises from the Company's own gross negligence, wilful misconduct, or fraud.

12.3 Users agree to indemnify and hold harmless the Company, its Lending Partners, and their respective officers and employees from claims arising out of the User's breach of these Terms or provision of false information.

13.1 A User may close their Account once all outstanding Loan obligations are settled, by writing to support@innopay.in.

13.2 The Company may suspend or terminate access if it reasonably believes a User has violated these Terms, engaged in fraud, or if required by a Lending Partner or applicable law without affecting the User's obligation to repay any outstanding Loan.

14.1 Complaints may be sent to grievanceredressal@innopay.in with the User's account reference. The Company will acknowledge within 24–48 hours and aim to resolve within RBI-prescribed timelines which is generally 30 days.

14.2 Grievance Officer:

14.3 If unresolved, Users may approach the relevant Lending Partner's Grievance Officer, the RBI Integrated Ombudsman Scheme (cms.rbi.org.in), or the Sachet Portal (sachet.rbi.org.in).

For the full escalation ladder, see our Grievance Redressal Mechanism.

15.1 These Terms are governed by the laws of India. Courts at Bangalore shall have exclusive jurisdiction over disputes arising hereunder, subject to the grievance-redressal hierarchy in Clause 14.

15.2 Disputes not resolved amicably within 15 (fifteen) calendar days of written notice shall be referred to a sole arbitrator under the Arbitration and Conciliation Act, 1996, seated in Bengaluru, in the English language.

16.1 Entire Agreement: these Terms, the Privacy Policy, and each KFS constitute the entire agreement between the User and the Company.

16.2 Severability: if any provision is held invalid, the remainder continues in full force.

16.3 Assignment: Users may not assign their rights under these Terms; the Company may assign its obligations to a successor entity, subject to notice and applicable law.

16.4 Force Majeure: the Company is not liable for delay or failure in performance caused by events beyond its reasonable control.