Borrower Declaration on Registration

Borrower Declaration

I am aware of the risks involved in online registration, and vulnerabilities and damages that may arise out of such vulnerabilities. I, or anyone on behalf of me, shall not hold P2PL or its team or affiliates directly or indirectly responsible for any damages caused due to loss of information or loss of money by using the services provided by P2PL and its team.

I confirm that the details provided for the registration and use of the services are given by me and are correct. I agree that P2PL or its team can take up legal actions including and not limited to forfeiting my deposit and future earnings out of it.

I confirm that I am above 18 (eighteen) years of age and a resident of India. I also confirm that I am not a defaulter to any lending entity.

I confirm that I understand all the Reserve Bank of India (RBI) and relevant guidelines on the lending including:

  1. The RBI directions, under sub-parts 3 of its Prudential Norms, state that a borrower cannot avail more than Rs. 10,00,000/- (Rupees ten lakhs only) as loan across all P2P platforms. 
  2. Further, he/she cannot borrow more than Rs. 50,000 (Rupees fifty thousand only) from a single lender across all platforms.
  3. I agree to abide by all the terms and conditions specified by P2PL or by statutory authorities. If I am found violating the same, I agree to indemnify and keep harmless P2PL/Company/team in full. Further, I agree to bear penalty, if any imposed and all consequences in respect thereof. P2PL/Company shall be entitled to suspend my account immediately.
  4. I understand that Reserve Bank of India or any bodies including government does not accept any responsibility for the correctness of any of the statements or representations made or opinions expressed by P2PL/Company, and does not provide any assurance for repayment of the loans lent on it.
  5. I authorize P2PL to hold my personal and financial data provided for the purpose of evaluations/future communication/Statutory compliance requirements. I shall not hold P2PL/Company for any loss of information and the resulting damages.
  6. I have made the above statement without any force, coercion or undue-influence.
  7. I understand and agree to all the stated terms and conditions without any force, coercion or undue influence.
  8. I understand the word ‘I’, ‘me’, my name or any term identifying me also applies for anyone representing me and these terms are applicable.
  9. I understand that the terms and conditions may undergo changes time to time, and this agreement extends to cover the new terms and conditions also, and deemed to be accepted by me.

I have read, and understood the Fair Practices Code and Participant Terms and Conditions for use of the IFPL website/P2PL platform available at Fair Practices Code and Participants Terms and Conditions. I accept all the terms and conditions stated therein.