Terms & Conditions


In terms of the Information Technology Act, 2000, this document is an electronic record. Being generated by a computer system it does not require any physical or digital signatures. This document is published in accordance with the provisions of Rule 3 (1) of the Information Technology (Intermediaries guidelines) Rules, 2011 that require publishing the rules and regulations, privacy policy and Terms of Use for access or usage of www.phoneparloan.in This Website by the URL www.phoneparloan.in and all the Web – pages, hyperlinks, tools and Services provided there under is owned and operated by Millennial Card Technologies Private Limited (hereafter referred to as “Phoneparloan”), a company incorporated under The Companies Act 2013 with its registered office at T-19, Basement, Green Park Main, New Delhi, India - 110016. Phoneparloan’s (“Our”, “Us”, “We”, “Website”, “Site”, “Company”) Website and mobile application (https://play.google.com/store) come as a medium for loan facility to common public, college students or any other individual (“Services”). The expressions “You”, “Your”, “Yours” or “User”, whenever the context so requires, for the purposes of these Terms of Use, shall mean any natural or legal person or entity who may create by registration, membership account on this Website or Application or agree to avail Our Services through this Website or Application, or otherwise access Our Website or Application. These terms and conditions (“Terms of Use”) shall govern your access to and use of the Services however accessed, as well as any and all information of whatever kind and nature appearing on the Website or Application or otherwise available through the Services. Please read these Terms of Service carefully before using the Site and/or Application; your access to and use of the Services is conditioned on your acceptance of and compliance with these Terms of Use. By downloading and installing the Application, accessing the Site or using the Services in any way, you agree to and are hereby bound by these Terms of Use. If you do not agree to all of the terms and conditions contained herein, do not use the Services, or access them through the Site or Application. Unless explicitly stated otherwise, any new features which may be added to the Services, including the release of new services or capabilities, are subject to these Terms of Use. ​ We may, in our sole discretion, make changes to these Terms of Use, from time to time with or without notice to you. Each time changes are made to these Terms of Use, a revised version of these Terms of Use, will be posted in the Application and Website without notification. Your continued use of the Service following such changes constitutes your acceptance of any such changes. You can review and are encouraged to check, from time to time, the most current version of these Terms of Service. At all times, the latest version of these Terms of Service shall be binding and prevail over any other version. Furthermore, We reserve the right to amend, discontinue, limit, disable, terminate, or cancel any feature of the Services at any time.

Privacy Policy

We respect the privacy of others. Any information that you provide us through the Services is subject to Our Privacy Policy. Your use of the Services constitutes your consent to the collection and use of your certain information, as described in our Privacy Policy.

Information Sharing and Disclosure

PhoneParLoan will not sell or rent your information to anyone other than as set forth in this Privacy Policy but with your consent, your information will be shared with PhoneParLoan’s affiliated loan partners solely for loan related disbursals, rest assured that your information is secure with us. PhoneParLoan may also share, sell, and/or transfer your personally identifiable information to any successor-in-interest as a result of a sale of any part of PhoneParLoan's business or upon the merger, reorganization, or consolidation of it with another entity on the basis that it is not the surviving entity. For the purposes of this paragraph, "affiliate" means any person, company, or PhoneParLoan directly, or indirectly through one or more intermediaries that controls, is controlled by or is under common control with PhoneParLoan (The term "control," as used in the preceding sentence, shall mean with respect to any person, the possession, directly or indirectly, of the power, through the exercise of voting rights, contractual rights or otherwise, to direct or cause the direction of the management or policies of the controlled person. As mentioned in this Policy, the term “person” includes any business entity, business corporation, human being, limited liability company, trust, partnership or any other entity registered under company’s act of India.

Member Registration

Users as may be approved by Phoneparloan shall have the right to use the Service provided by Phoneparloan via its Website and/or Application. Users who are competent to contract under the Indian Contract Act, 1872, are eligible to register themselves as members on the Website or Application and can avail Our Services. Persons who are competent to contract would mean and include every person who, ​ (i) has completed 18 years of age (as per The Indian Majority Act, 1875) (ii) is of sound mind (iii) not disqualified from contracting by any law for the time being inforce in India. In addition to the aforementioned conditions, User shall also have a valid Permanent Account Number (“PAN”) and a valid Aadhar card, to be eligible to avail the Services of Phoneparloan on the Website or Application.You would be required to sign up on the Website or Application by providing certain personal details such as name, e-mail address and telephone number. You agree to provide true, accurate, current and complete information about yourself as prompted by the registration form. If You provide information that is untrue, inaccurate, not current or incomplete, or We have reasonable grounds to suspect that You have provided such information, then Phoneparloan may (in addition to any other rights or remedies available to us) refuse registration, suspend access to all current or future use of the Website or Application and the Services (or any portion thereof) permanently. ​ When You sign up on the Website, Your personal information will be registered automatically in Our database which will be maintained and used by the Website in accordance with the Privacy Policy. On sign up to use Phoneparloan’s Website and/or Application the user will be asked to submit some personal exclusive information which may include but not limited to the name, permanent account information (PAN), e-KYC or other KYC related documents required for financial transactions. The user is required to acknowledge that Phoneparloan reserves all the right to collect, preserve and retin such information for the purpose of registration and verification of the user. User to acknowledge that Phoneparloan may utilize such data for the purpose of periodical development, internal assessment and research. Express Consent User to acknowledge that on acceptance to provide details of personal information (mentioned herein above), the user gives express consent to the Millennial Card Technologies Private Limited (its subsidiaries and affiliates) to contact you, follow up call in relation to services offered through the Website and/or Application for sharing , offers, discounts and various offers by its Partners/Affiliates. The user hereby acknowledge that by acceptance to the terms of use, he is automatically enabled to get call/sms email or any such other means of communication used by Phoneparloan for any promotion or information purposes. The Company reserves the right and user to expressly authorize the Phoneparloan (and or its business affiliates) to share or disclose any personal information as submitted by the User for internal purposes or for compliance of any Law for the time being in force.

Usage conditions

Users agree to use the Services only for purposes that are permitted by a) the User Terms and b) any applicable laws as amended from time to time for the time being in force. By using the Website and/or Application You agree not to: a. authorize others to use your account; ​ b. assign or otherwise transfer Your account to any third person or legal entity ​ c. use the Service or Website or Application for unlawful purposes, including but not limited to sending or storing any unlawful material or for fraudulent purposes; ​ d. use the Service or Website or Application to cause nuisance, annoyance or inconvenience; e. use the Service or Website or Application with an incompatible or unauthorized device; ​ f. impair the proper operation of the network and/or interfere with or disrupt the integrity or performance of the Website or Service or Application; ​ g. reverse engineer or access the Service or Website or Application in order to design or build a competitive product or service, design or build a product using similar ideas, features, functions or graphics of the Website or Application or copy any ideas, features, functions or graphics of the Website or Application. ​ h. launch an automated program or script, including, but not limited to, web spiders, web crawlers, web robots, web ants, web indexers, bots, viruses or worms, or any program which may make multiple server requests per second, or unduly burdens or hinders the operation and/or performance of the Website or Service or Application; ​ i. try to harm the Service or Website or Application in any way whatsoever; ​ j. disclose information designated as confidential by Phoneparloan, without Phoneparloan’s prior written consent; ​ k. copy or distribute the Service or Website or Application or other Phoneparloan content without written permission from Phoneparloan. ​ You are solely responsible for any breach of your obligations under this agreement (including financial obligations) and for the consequences (including any loss or damage which Phoneparloan may suffer) of any such breach. ​

Terms of Credit

The User shall be entitled to a credit limit of Rs. 2000 (Rupees Two Thousand only), with subject to satisfaction of certain conditions, as provided herein in this Terms of Use. The User shall be entitled to credit limit of Rs. 2000 (Rupees Two Thousand only) and Rs.5000 (Rupees Five Thousand) only (“Credit Limit”) when the User signs up on the Website and/or Application, following the verification of the PAN and following the verification by the User of his or her know your customer (“KYC”) obligations. The User recognizes and accepts that for availing the services of Phonepar Loan, a nominal amount of Rs. 1 is charged for the combined purpose of verification and enabling transaction for the User. The User shall further be entitled to pay processing fee rate at Rs. 100 (Rupees One hundred Only) and other taxes on the sum of credit availed, following the verification by the User of his or her know your customer (“KYC”) obligations. Further provided that Phoneparloan may, in its sole discretion, increase the Credit Limit of the User or decrease the Credit Limit of the User or forfeit any such increase in the Credit Limit of the User. ​ The interest levied upon the User subject to the above options of loan Rs. 2000 (Rupees Two Thousand) or Rs. 5000 (Rupees Five Thousand) as per the given table. Loan Rate Interest per month Days in month ​ 2000 2% 30 5000 2% 30 Days 7 15 30 7 15 30 Interest 9.33 20.00 40.00 23.33 50.00 100.00 Processing Fees 40.67 80.00 160.00 101.67 200.00 400.00 Amount Charged 50.00 100.00 200.00 125.00 250.00 500.00. ​​

Payment Terms ​ You, the User, acknowledge and accept that all payments, with respect to the credit obtained by the User via the Website and/or Application, shall only be made by means of a valid debit card. The invoice for the credit obtained by the User by means of the Website and/or Application, shall be conveyed to You on Your e-mail address, via SMS on Your mobile number, as have been provided to Phoneparloan by You, and via the Phoneparloan Website and/or Application on the last day of every month. You shall be liable to make the payment by the 10 th (tenth) day of every month (“Payment Date”) The invoice sent by Phoneparloan to You shall display the total credit obtained by You via the Website and/or Application (“Total Credit”). With respect to the total credit obtained by You via the Website and/or Application, the invoice shall also display the total payment due to settle the Total Credit (“Total Payment Due”) and the minimum payment due to be paid by You with respect to the Total Credit availed by You via the Website and/or Application to continue Your use of the Services (“Minimum Payment Due”). In the event of Your failure to make payment of the Total Payment Due before the expiry of the Payment Date, Phoneparloan shall charge an interest of three percent (3%) on the remaining amount of credit. In the event of Your failure to make payment of the Minimum Payment Due before the expiry of the Payment Date, Phoneparloan shall temporarily suspend Your use of its Services. In subsequence to the temporary suspension of Your Services by Phoneparloan, You shall be liable to make payment of an amount of money or such additional sums of money, that shall be equal to the Minimum Payment Due within a period of seven (7) days following the expiry of the Payment Date (“Extended Payment Date”). In the event of your failure to make payment of such amount of money or such additional sums of money, that shall beequal to the Minimum Payment Due before the expiry of the Extended Payment Date, Phoneparloan shall permanently suspend Your use of its Services. ​ In the event of Your failure to make payment as has been provided for in the aforementioned paragraph, Phoneparloan shall declare You as a defaulter and Phoneparloan shall further be entitled to share all the information, as has been provided by You to Phoneparloan, and all the information obtained by Phoneparloan during Your use of its Website and/or Application with ___ and other financial institutions including but not limited to banks and other credit providing entities. Content ​ A variety of information, text, graphics, software, graphics, photos, data, video, audio- visual combinations, interactive features and other materials You may view on, or access through the Service (“Content”) is available on the Website and Application. Then Content available on the Website and Application shall be used solely for Your non-commercial use and/or to benefit from the products, Services intimated on the Website and Application. No right, title or interest in any Content is transferred to You, whether as a result of downloading or reproducing such Content or otherwise. We reserve complete ownership, title and full intellectual property rights in all Content uploaded by Us. Except as expressly authorized by this Terms of Use, You may not use, alter, copy, distribute, transmit, or derive another work from any Content obtained from Us or the Service. As an account holder on the Website or Application, You may view Content. All Content on the Website and Application is either owned or licensed to Us, and is subject to copyright, trade mark rights, and other intellectual property rights of the Website and Application. Use Of Message Boards, Chat Rooms And Other Communication Forums This Site and Application may contain message/bulletin boards, chat rooms, or other message or communication facilities (collectively, “Posts or “Forums”), You agree to use the Forums only to send and receive messages and material that are proper and related to the particular Forum. By way of example, and not as a limitation, You agree that when using a Posts or Forum, You shall not do any of the following: Defame, abuse, harass, stalk, threaten or otherwise violate the legal rights (such as rights of privacy and publicity) of others. Publish, post, distribute or disseminate any defamatory, infringing, obscene, indecent or unlawful material or information. Upload files that contain software or other material protected by intellectual property laws (or by rights of privacy of publicity) unless you own or control the rights thereto or have received all necessary consents. Upload files that contain viruses, corrupted files, or any other similar software or programs that may damage the operation of another computer. Conduct or forward surveys, contests, or chain letters. Download any file posted by another user of a Forum that you know, or reasonably should know, cannot be legally distributed in such manner. All Forums are public and not private communications. Chats, postings, conferences, and other communications by other users are not endorsed by Phoneparloan, and such communications shall not be considered reviewed, screened, or approved by Phoneparloan. Phoneparloan reserves the right for any reason to remove without notice any contents of the Forums received from users, including without limitation message board postings without notification. In no event shall the Site and/or Application be held responsible for any Posts nor does Phoneparloan, Site or Application represent or endorse the accuracy or reliability of any advice, opinion, statement, suggestion or other information on the Posts nor shall Phoneparloan be liable for any loss or damages resulting from their use and/or appearance on the Site. By providing a Post to the Site and/or Application, you undertake, represent and warrant to Phoneparloan that you have all necessary rights in and to that Post and all information it contains and that no such Post shall infringe any rights, of third parties, including without limitation, intellectual property rights or other rights of any third parties or be otherwise defamatory, slanderous or hurtful to any particular person or group of people. By submitting any Post, you grant Phoneparloan and its associate companies, a perpetual, worldwide, royalty-free, irrevocable, non-exclusive licence to use, and authorise others to use the Post in whole or in part, in any and all media, now known or hereafter developed, alone, or together or as part of any other type of material of any kind or nature. Phoneparloan, Site and/or Application will have the right to monitor, remove, suspend, destroy, use and change any Post and/or content that is available on or via any chat area or our Site or Application generally, in any manner that Phoneparloan may determine, in its sole discretion, at any time. Although Phoneparloan endeavours to periodically monitor the content posted on this Site and Application, the Site and/or Application will not be responsible for the views or opinions expressed by third parties on the Site. You agree that you will not use any Post and/or any part or all of our Site and/or Application to: ​ · collect, store and/or identify private or personal information of any user or person; · facilitate personal attacks on other individuals or groups of people; · upload, post or e-mail any content that is defamatory, obscene, pornographic, threatening, harassing, unlawful, harmful, abusive, tortures, profane, hateful, or racially, ethnically or otherwise objectionable; and/or other information that the Site deems in its sole discretion inappropriate for the Site; ​ · harm children in any way including without limitation any offences in relation to grooming children online under law; ​ · impersonate any person or entity, falsely state or otherwise misrepresent your affiliation with a person or entity or disguise the origin of any content; · stalk or otherwise harass another person or User; · upload, post or e-mail any content that you do not have a right to transmit under any law or under contractual or fiduciary relationships; · upload, post or e-mail any content that infringes any intellectual property rights or other third-party rights of any party; · upload, post or e-mail any unsolicited or unauthorized advertising, promotional materials, junk mail, spam chain letters or any other form of solicitation; · upload, post or e-mail any content that contains computer viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer software, hardware or telecommunications equipment and/or the Site; ​ · disrupt the normal flow of dialogue, cause a screen to scroll faster than other users of the chat areas are able to type, or otherwise act in a manner that negatively affects other users ability to engage in real time exchanges; · violate any applicable national or international laws or regulations. ​ You further agree that you may use the Site and Application for non-commercial purposes only. You may not submit Posts intended to promote and/or generate revenue for yourself and/or any third party business activity. Compatible Devices In order to be able view and use Content on the Service, You will need to use a personal computer, smartphone, or other device that meets the system and compatibility requirements that We establish from time to time and is otherwise capable of interacting with the Service ( each such device, a Compatible Device ). We may change the requirements for Compatible Devices from time to time and, in some cases, whether a device is (or remains) a Compatible Device may depend on software or systems provided or maintained by the device manufacturer or other third parties. As a result, devices that are Compatible Devices at one time may cease to be Compatible Devices in the future. This Application is available to handheld mobile devices running Android OS Operating Systems. We will use reasonable efforts to make the Application available at all times. However, You acknowledge the Application is provided over the internet and mobile networks and so the quality and availability of the Application may be affected by factors outside Phoneparloan’s reasonable control. Phoneparloan does not accept any responsibility whatsoever for unavailability of the Application, or any difficulty or inability to download or access Content or any other communication system failure which may result in the Application being unavailable. Phoneparloan will not be responsible for any support or maintenance for the Application. ​ System Requirements In order to use the Application, you are required to have a compatible mobile telephone or handheld device, internet access, and the necessary minimum specifications Software Requirements. The Software Requirements are as follows: Android OS devices running Android OS 2.3 onwards; Language: English. The version of the Application software may be upgraded from time to time to add support for new functions and services. ​ Restrictions on Use As a condition of use, You agree to use the Services solely for lawful purposes and not to use the Services for any purpose that is prohibited by these Terms of Use. You are solely responsible for all of your activity in connection with the Services. Without derogating from your responsibility under any applicable law, and solely by way of example, you shall not (and shall not permit any third party to) either (a) take any action or (b) download, upload, submit, post, or otherwise distribute or facilitate distribution of any Content that is illegal, threatening, abusive, invasive of any person’s privacy, harassing, defamatory, libellous, false, deceptive, fraudulent, misleading, untruthful, tortuous, obscene, offensive, pornographic, or otherwise inappropriate, as We may determine in Our sole discretion; · violates any right of publicity, or other right of any person or entity, or any law or contractual obligation; · infringes any patent, copyright, trademark or other intellectual property right of any person or entity ; · constitutes unauthorized or unsolicited advertising; · involves commercial activity not expressly permitted by Us; · contains any harmful or malicious computer codes, files or programs that are designed or intended to damage, disrupt, interfere with, or limit, the proper functionality of any software or hardware, or that enables to obtain unauthorized access to any system, data or other information. · disrupts, interferes with or restricts the use of our site by other Users; · reverse engineers, decompiles, copy or adapts any software or other code or scripts forming part of our Website; · changes, modifies, deletes, interferes with or misuses data contained on our site and entered by or relating to any third-party user of our Website. Right to Cancellation in case of invalid information from User The User expressly undertakes to provide to Phoneparloan only correct and valid information while requesting for any services under this agreement, and not to make any misrepresentation of facts at all. Any default on part of the User would vitiate this agreement and shall disentitle the User from availing the services from Us. In case Phoneparloan discovers or has reasons to believe at any time during or after receiving a request for services from the User that the request for services is either unauthorized or the information provided by the User or any of them is not correct or that any fact has been misrepresented by him, Phoneparloan in its sole discretion shall have the unrestricted right to take any steps against the User(s), including cancellation of the bookings, etc. without any prior intimation to the User. In such an event, We shall not be responsible or liable for any loss or damage that may be caused to the User or any of them as a consequence of such cancellation of booking or services. The User unequivocally indemnifies Phoneparloan of any such claim or liability and shall not hold Us responsible for any loss or damage arising out of measures taken by Us for safeguarding its own interest and that of its genuine customers. This would also include Us denying/cancelling any bookings on account of suspected fraud transactions. ​ Third Party Account Information . By using the account access service in Phoneparloan Website and Application, the User authorizes Phoneparloan and its agents to access third party sites, including that of banks and other payment gateways, designated by them or on their behalf for retrieving requested information. While registering, the User will choose a personal identification number (“PIN”) and password and is responsible for maintaining the confidentiality of the PIN and/or password and the account. The User is fully responsible for all activities that occur while using their PIN and/or password or account. It is the duty of the User to notify Phoneparloan immediately in writing of any unauthorized use of their PIN and/or password or account or any other breach of security. Phoneparloan will not be liable for any loss that may be incurred by the User as a result of unauthorized use of his PIN and/or password or account, either with or without his knowledge. The User shall not use anyone else password at any time. ​ Intellectual Property Rights ​ This Website and its mobile Applications are owned by Millennial Card Technologies Private Limited. All rights to, title and interest in the Content available on/ via the Website and Application, the Website’s and Application’s look and feel, the designs, trademarks, service marks, and trade names displayed on the Website and Application, and the Website and Application URLs, are the property of Millennial Card Technologies Private Limited or its licensors, and are protected by copyrights, trademarks, patents, or other proprietary rights and laws. The Website and its mobile Applications and the Content are protected by copyright laws, and belong to Us or its partners, affiliates or contributors. The copyrights in the Content are owned by Us or other copyright owners who have authorized their use on the Website. You may not manipulate or alter the images or other Content on the Website in any way. We respect the intellectual property rights of others and expect you to do the same. We will respond to notices of alleged copyright infringement that comply with applicable law and are properly provided to Us. We reserve the right to remove Content alleged to be infringing without prior notice and at our sole discretion. In appropriate circumstances, We will also terminate a User’s account if the User is determined to be a repeat infringer. Our designated copyright agent for notice of alleged copyright infringement appearing on the Website is info@getolly.com. ​ Disclaimer of Warranties The Services are provided on an “as is” and “with all faults” basis, and without warranty or condition of any kind, either express or implied. Without limiting the foregoing, we explicitly disclaim any warranties, either express or implied, including without limitation, warranties of merchantability, and fitness for a particular purpose, non-infringement and quality of Service. We make no warranty that the Service will meet your expectations, be free from viruses, or that data and content obtained through the service will be accurate, reliable or current, or that the service will be available on an uninterrupted, secure, or error-free basis. You acknowledge and agree that the use of the Service is at your own discretion and sole risk and that the entire risk as to the results and performance of the Service, including, without limitation, any damages to your computer system, tablet, mobile device or data stored on it, is solely Yours. Limitation of Liability You acknowledge and agree that in no event will We (including, without limitation, our affiliates and their respective officers, directors, employees and agents) be liable for any direct, indirect, special, punitive, incidental or consequential damages or losses (including, without limitation, damages for loss of business profits, business interruption, loss of programs or information, and the like) arising out of your use of or inability to use the service, or improper use of the Service, even if you have been advised of the possibility thereof and regardless of the form of action, whether in contract, tort, or otherwise. You further acknowledge and agree that we may change the Service in whole or in part in its sole discretion without notice to you and without any liability to you whatsoever in connection therewith. ​ Governing law These Terms of Use shall be governed by the laws of India, without regard to principles of conflicts of law. ​ Disputes ​ Any action arising out of or relating to these Terms of Use or Your use of the Services must be commenced in the local or high courts located in New Delhi (and You consent to the jurisdiction of those courts. ​ Interpretation ​ Headings are for convenience only and shall not be used to construe the terms of these Terms of Use. If any term of this Terms of Use is found invalid or unenforceable by any court of competent jurisdiction, that term will be severed from these Terms of Use. No failure or delay by Us in exercising any right hereunder will waive any further exercise of that right. Our rights and remedies hereunder are cumulative and not exclusive. Waiver Any failure on Our part to exercise any provision or right under these Terms of Use, shall not constitute a waiver by Us of that provision or right Indemnity. You agree to indemnify, defend and hold harmless Phoneparloan and its affiliates, agents, respective employees, directors, officers, agents, managers, vendors and suppliers from and against any liability, losses, claims, damages, demands, investigations, inquiries, suits, costs and expenses (including legal fee and costs incidental thereto) asserted against or incurred, that arise out of or otherwise relating to Your use of the Website and Application, including without limitation any obligation to be performed by You pursuant to these Terms of Use. Further, You agree to hold Phoneparloan harmless against any claims made by any third party due to, or arising out of or otherwise relating to Your use of the Website or Application, any claim arising out of damage caused to third party by You, breach of these Terms of Use by You, or Your violation of any rights of another, including any intellectual property rights. Further, You agree to hold Phoneparloan harmless against any claims made by any third party due to legal suits regarding the originality, copyright issues, Your violation of any third party right, including without limitation any copyright, property, or privacy right. This defense and indemnification obligation will survive these Terms of Use. Notwithstanding anything to the contrary, Our entire liability towards You under these Terms of Use or otherwise shall only be in connection with refund of the money charged from You for any particular product or service, under which the unlikely liability arises. ​ Contact Information If You have any questions or concerns with respect to this Terms of Use or the Website or Application or any information contained on thereon, You may contact Us by writing to Us at info@getolly.com These Terms of Use supersede any previous versions