The LSP does not sanction, disburse, or hold any beneficial interest in loans; all lending decisions vest solely with Padmalaya. The LSP is not entitled to collect any fee directly from Borrowers, and all LSP compensation is paid by Padmalaya. 

4. ELIGIBILITY, REGISTRATION AND KYC 

4.1  You must be at least 18 years of age, a resident Indian national, and legally competent to contract under the Indian Contract Act, 1872, to register on the Platform or apply for a loan. 

4.2  Registration requires you to provide accurate KYC information (PAN, Aadhaar/officially valid document, mobile number verified by OTP, and such other information as may be required) and to keep such information current. Providing false, inaccurate or misleading information is a breach of these Terms and may result in immediate termination of your Account and rejection/recall of any loan facility.

4.3  Padmalaya reserves the right, at its sole discretion, to accept or reject any application for registration or for a loan, without being obliged to disclose reasons. 

4.4  You may maintain only one active Account. Your right to use the Platform is personal to you and non-transferable.

4.5  You are responsible for maintaining the confidentiality of your login credentials, OTPs and any device used to access the Platform, and for all activity conducted through your Account. 

5. LOAN TERMS, KEY FACT STATEMENT AND SANCTION 

5.1  Prior to execution of any loan contract, Padmalaya (directly or through the LSP-operated Bridge App) shall furnish you a digitally signed Key Fact Statement disclosing, at minimum: the sanctioned loan amount; tenure; instalment amount and schedule; interest rate; Annual Percentage Rate (APR) computed on the all-inclusive cost of the loan; all fees and charges (processing fee, insurance, documentation, etc.); contingent/penal charges; and the cooling-off period applicable to the loan. 

5.2  The KFS and the Sanction Letter form an integral part of, and shall be read together with, the Loan Agreement applicable to your specific loan. In the event of inconsistency between this T&C and the KFS/Sanction Letter/Loan Agreement for a specific loan, the latter shall prevail for that loan. 

5.3  Disbursement shall be made only into your own bank account by NEFT/IMPS or such other RBI-permitted mode; no disbursement shall be routed through any pass-through or pooling account of the LSP or any third party, save as permitted under Applicable Law. 

5.4  Repayment shall be made directly to Padmalaya's account (not the LSP's), through the modes made available on the Platform, on the Scheduled Due Dates specified in your Sanction Letter/Loan Agreement. 

5.5  Rates, fees and charges displayed on the Platform prior to a specific loan offer are indicative only and are subject to confirmation in your KFS and Sanction Letter. 

6. COOLING-OFF / LOOK-UP PERIOD 

6.1  You shall be entitled to a board-approved minimum cooling-off period of 3 day(s) from the date of loan disbursement, during which you may exit the loan by repaying the principal disbursed and the proportionate interest accrued for the period of utilisation, together with a nominal, pre-disclosed processing fee, without any prepayment penalty. 

6.2  The exact cooling-off period applicable to your loan, and the mechanism to exercise it, shall be specified in the KFS and made available as an in-App action on Bridge.

7. CONSENTS 

Each of the following consents is sought as a distinct, unticked-by-default affirmative action on the Platform/App, and you may decline any consent that is not strictly necessary to avail the Service, subject to Clause 7.9: 

7.1  Credit Information Consent: You consent to Padmalaya (and, where applicable, the LSP acting on its behalf) accessing your credit information from Credit Information Companies ("CICs") registered under the Credit Information Companies (Regulation) Act, 2005, including both soft and hard pulls, for the purpose of assessing your creditworthiness and monitoring your credit facility. A single consent captured at the outset shall cover both soft and hard bureau pulls for the specific application. 

7.2  KYC and Data Sharing Consent: You consent to Padmalaya verifying your KYC information through authorised KYC vendors/Aadhaar-based e-KYC/Digilocker/CKYC, and to the LSP being sub-authorised as a credentialed caller for this purpose, with the underlying KYC vendor contract and all permanent KYC records and consent artifacts held and stored in Padmalaya's systems. 

7.3  NACH/e-Mandate Consent: You consent to setting up an NACH mandate or equivalent auto-debit instruction for repayment, subject to a disclosed ceiling amount shown to you before the NACH set-up screen. 

7.4  Communication Consent: You consent to receiving Service-related communication (SMS, WhatsApp, email, calls, push notifications) from Padmalaya and the LSP, including in relation to collections and recovery. 

7.5  Call Recording Consent: You consent to calls between you and Padmalaya/the LSP (including its authorised recovery agents) being recorded for quality, verification, dispute-resolution and evidentiary purposes. 

7.6  Device Permission Consent: The App shall request only need-based device permissions. Access to contacts, call logs, non- transactional SMS content, or media/gallery is not sought and shall not be availed by the App, except camera/file access strictly required for one-time document upload during KYC, which you may separately consent to. 

7.7  Cross-Referral Consent (declined applications): Where your loan application is declined by Padmalaya, you may separately and distinctly consent to your application data being shared with Zavo Nexus's other lending/platform arrangements for evaluation of alternate credit solutions. This consent is optional and is not a condition for using the Platform. 

7.8  KFS Consent: Your specific acknowledgement of, and consent to, the KFS is captured at the disbursement stage of the loan journey and not merely at Loan Agreement e-signature. 

7.9  Withdrawal: You may withdraw any consent given under this Clause 7 (other than consents strictly necessary for the performance of an existing loan contract) at any time by writing to the care@padmalayafinserve.com Grievance Redressal Officer. Withdrawal of a necessary consent may result in Padmalaya's inability to continue offering the Service to you. 

8. RISK GRADATION AND PRICING POLICY 

8.1  In accordance with RBI's Fair Practices Code, the rate of interest offered to you is determined on the basis of a Board-approved risk gradation policy which takes into account factors including credit history, repayment track record, income assessment, loan tenure, and prevailing cost of funds. 

8.2  The specific interest rate and APR applicable to you shall be communicated in your KFS and Sanction Letter. Padmalaya's risk gradation approach (without individual scoring criteria) is available on request from the Grievance Redressal Officer. 

9. USER OBLIGATIONS AND REPRESENTATIONS 

9.1  You represent that all information furnished by you on the Platform is true, accurate, and not misleading, and you undertake to promptly update Padmalaya of any change. 

9.2  You shall be solely responsible for all use of your Account and for ensuring such use complies with these Terms and Applicable Law. 

9.3  You shall cooperate with any verification, investigation, or query raised by Padmalaya or the LSP in relation to your Account or loan. 

9.4  You are responsible for procuring and maintaining the telecommunication, hardware, and internet connectivity required to access the Platform, and Padmalaya/the LSP shall not be liable for Service disruption caused by inadequacy of such connectivity. 

10. RESTRICTIONS ON USE 

While accessing the Platform, you agree that you shall not: 

• use the Platform for any unlawful, fraudulent, or spamming purpose; 

• infringe Padmalaya's, the LSP's, or any third party's intellectual property, publicity, or privacy rights; 

• post, upload or transmit any unlawful content or content disclosing private information of any person without authorisation; 

• refuse to cooperate in an identity-verification or fraud-investigation process; 

• circumvent, disable or interfere with security features of the Platform; 

• upload viruses, malware, or any code designed to disrupt the Platform; 

• reverse-engineer, decompile, or attempt to extract the source code of the App or Website; 

• use automated means (bots, scrapers) to access or overburden the Platform; 

• provide false, inaccurate or misleading information to Padmalaya or the LSP; or 

• collect or attempt to collect personal information of other Users of the Platform. 

11. INTELLECTUAL PROPERTY RIGHTS 

"Padmalaya" and "Bridge" and their respective logos are trademarks/marks owned by or licensed to Padmalaya. Subject to your compliance with these Terms, Padmalaya grants you a limited, non-exclusive, non-transferable, revocable licence to access and use the Website and download and use the Bridge App solely for availing the Services for your personal, non-commercial use. All other rights in the Platform, including source code, design, trademarks, and content, are the exclusive property of Padmalaya and/or its licensors and no rights are transferred to you except as expressly stated herein. 

12. ADDITIONAL TERMS SPECIFIC TO THE BRIDGE APP 

12.1  Device and OS Compatibility: You are responsible for ensuring your device meets the minimum operating system and hardware requirements for the App. Padmalaya and the LSP do not warrant that the App will be compatible with all devices. 

12.2  Updates: The App may be updated periodically to add features, fix defects, or maintain regulatory compliance. Continued use of the App after an update constitutes acceptance of the updated App and, if applicable, updated Terms. 

12.3  Permissions: The App shall request only those device permissions strictly necessary for the Service (e.g., camera for document capture, location for fraud-risk assessment where separately consented to). You may decline non-essential permissions; declining an essential permission may limit your ability to complete a loan application. 

12.4  Uninstallation: Uninstalling the App does not terminate any outstanding loan obligation, close your Account, or withdraw consents necessary for servicing an existing loan; such obligations survive uninstallation until settled or your Account is formally closed. 

12.5  App Store Terms: Your use of the App is also subject to the terms of the applicable app store (Google Play/Apple App Store) from which it was downloaded, which terms operate in addition to, and not in substitution of, these Terms. 

12.6  In-App Grievance Access: The Grievance Redressal Officer's details, KFS, sanction letter, and statement of account shall be accessible within the App at all times during the currency of a loan. 

13. RECOVERY, COLLECTIONS AND RECOVERY AGENTS 

13.1  In the event of default, Padmalaya (or its authorised recovery agent, which may include the LSP or a third party engaged consistent with RBI's recovery agent guidelines) may contact you to seek recovery of outstanding dues, in a manner consistent with the Fair Practices Code, i.e., at reasonable hours, without harassment, misrepresentation, or use of undue force. 

13.2  Before any recovery agent contacts you in respect of a specific loan, Padmalaya shall notify you (by SMS/email/in-App notification) of outstanding dues. 

13.3  Any cash collected by an authorised recovery agent shall be deposited to Padmalaya's account on the same day of collection, and a receipt shall be issued to you for such payment. Recovery agent fees, if any, shall be borne by Padmalaya and shall not be charged to you separately. 

13.4  Nothing in this Clause 13 restricts Padmalaya's right to pursue civil or other lawful remedies available under Applicable Law in the event of default. 

14. DATA PROTECTION AND PRIVACY 

14.1  Padmalaya, as Data Fiduciary, shall process your Personal Data strictly on a need-basis, for purposes disclosed to you at the time of collection, and in accordance with the DPDP Act, the Information Technology Act, 2000, and the rules made thereunder. 

14.2  You, as Data Principal, have the right to: (a) obtain a summary of the Personal Data processed and the processing activities undertaken by Padmalaya; (b) seek correction, completion, and updating of your Personal Data; (c) seek erasure of your Personal Data that is no longer necessary for the purpose for which it was processed, subject to Padmalaya's legal/regulatory retention obligations; (d) withdraw consent at any time, without affecting the lawfulness of processing carried out prior to withdrawal; and (e) nominate another individual to exercise these rights on your behalf in the event of death or incapacity. 

14.3  All Personal Data collected through the Platform shall be stored on servers located in India. Where any processing is undertaken outside India for permitted purposes, the resultant data shall be repatriated to India and purged from the foreign system within twenty-four (24) hours of such processing. 

14.4  The App shall not access mobile resources such as the file system, media gallery, contact list, call logs, or SMS content, except with your specific, informed, one-time consent for a clearly disclosed KYC or document-upload purpose. 

14.5  Padmalaya maintains appropriate technical and organisational measures to prevent unauthorised processing and accidental loss, destruction, or damage to Personal Data, and to ensure the reliability of personnel with access to such data. 

14.6  Grievances relating specifically to processing of your Personal Data may be addressed to the Grievance Redressal Officer named in Clause 19, who shall also act as the point of contact for data-protection queries pending designation of a dedicated Data Protection Officer, if applicable. 

14.7  Further detail on our data practices is set out in our Privacy Policy, available at https://www.padmalayafinserve.com/privacy, which is incorporated herein by reference. 

15. THIRD-PARTY AND LINKED WEBSITES 

The Platform may contain links to websites of affiliates or unrelated third parties. Such links are provided for convenience only. Padmalaya does not endorse, verify, or assume responsibility for the content, products, services, or privacy practices of any linked website, and your use of any such website is entirely at your own risk and subject to that website's own terms. 

16. DISCLAIMER OF WARRANTY 

The Platform and its content are provided on an "as is" and "as available" basis. To the maximum extent permitted by Applicable Law, Padmalaya and the LSP disclaim all warranties, whether express or implied, including warranties of merchantability, fitness for a particular purpose, and non-infringement, save for warranties that cannot lawfully be excluded. Neither Padmalaya nor the LSP warrants that the Platform will be uninterrupted, timely, secure, or error-free. 

17. LIMITATION OF LIABILITY 

17.1  To the maximum extent permitted by Applicable Law, in no event shall Padmalaya, the LSP, or their respective officers, employees, or agents be liable for any indirect, incidental, special, consequential, or punitive damages arising out of or in connection with your use of, or inability to use, the Platform, even if advised of the possibility of such damages. 

17.2  Save in respect of claims arising from Padmalaya's fraud, gross negligence, or wilful misconduct (which shall not be limited by this Clause), Padmalaya's aggregate liability to you under or in connection with these Terms, in any twelve (12)-month period, shall not exceed the higher of (a) the total fees actually paid by you to Padmalaya in that period, or (b) INR 5,000 (Rupees Five Thousand). 

17.3  Nothing in this Clause 17 limits or excludes Padmalaya's liability where such limitation or exclusion is not permitted under RBI regulations or other Applicable Law. 

18. INDEMNITY 

You agree to indemnify and hold harmless Padmalaya, the LSP, and their respective directors, officers, employees, and agents from and against any claims, losses, liabilities, damages, and expenses (including reasonable legal fees) arising out of: (a) your breach of these Terms; (b) your violation of Applicable Law; (c) any inaccurate, false, or misleading information provided by you; or (d) your infringement of any third-party right, including intellectual property or privacy rights, in each case save to the extent such claims, losses, liabilities, damages or expenses arise from Padmalaya's or the LSP's own breach, negligence, or wilful misconduct. 

19. GRIEVANCE REDRESSAL 

19.1  In accordance with the Information Technology Act, 2000 and DLD 2025, the details of Padmalaya's Grievance Redressal Officer are: