Hindcred is an online platform and a Mobile Application that assists users in getting quick sanctioning of loans from Kemex Engineering Pvt. Ltd. and other lending partners (Banks or financial institutions). By proceeding with the loan application, the user is deemed to authorize ‘Hindcred’ to transfer details relating to your credit information to third parties for quick loan disbursal.
We are a third-party platform that connects users with other banks and financial institutions and helps them compare their rates of interest and other criteria before making a loan application.
Users can compare the terms and conditions, loan sanction amount, rate of interest, repayment schedule, and other necessary clauses before opting for loans. Hindcred is not a bank, NBFC, or other financial institution; rather, it is a loan aggregator that helps users get the best loan offers from other financial institutions.
List of Data that may be Collected and Shared
Personal Information like Name, Phone number, E-mail address, User ID, PAN details, Address proof, Date of Birth, Photographs, and Videos might be collected and shared for verification purposes with third parties. The data will not be used for any other purposes other than for loan disbursing services.
Financial information like credit score, credit history, bank statements, primary bank account details, Income tax returns, GST returns, employment period & details, and other relevant information might be used for verification and accessing credit reports for loan sanctioning. This information also helps prevent fraud and helps us maintain accounts by personalizing them.
If asked, ‘Hindcred’ might also share certain documents and files that are asked of it for providing loans to customers. These documents and files are shared for managing compliance and verification purposes so that the loan disbursal process is smooth and free of hurdles.
By agreeing to the conditions, the user also gives authorization to share the device details and platform ID that might be required in the process of loan sanction.
To continue security practices and ensure the application’s security measures, all the data shared with the financial institutions is fully encrypted so that there is no breach of data. The user's data is transferred through a safe and secure connection. Data Deletion
The application allows users to delete their shared data with the help of developers. The developers will help with ways through which users can remove their data from the application that cannot be used further by ‘Hindcred’ in the future for any purposes.
The application allows users to delete their shared data with the assistance of our developers. Once deleted, Hindcred will no longer use your data for any purposes.
As soon as the user clicks on ‘Proceed’, it would be deemed that the user has authorized ‘Hindcred’ (might be referred to as ‘We’, ‘us’ in future contexts) to share the mentioned details to respective credit bureaus and lending institutions. This information will be shared to keep a check on your CIBIL and determine the liabilities to help you get the exact information about the loan disbursement amount based on various factors like your credit score, past financial behaviours, economic condition, and liabilities.
The user will also be deemed to have permitted credit bureaus to share their credit reports and history with us to determine their financial standing. This will help us provide you with the best possible customized loan approvals. Thereby, you have allowed Hindcred to the listed information –
1. To verify your personal information and share it with credit bureaus.
2. Even though the user has not asked for any credit report or details, we have the authority to access these documents directly through credit bureaus until you deactivate your account from our app or you have successfully deleted your data through developers.
Hindcred is authorized to share the loan options with the user through modes that are accessible by it like messaging, emailing, calling, or even notifying through the application. It would be deemed that you have given your acknowledgement that these credit facilities would be provided to you as per the terms and conditions met between us and the credit bureaus.
It is acknowledged by you that you might have to share certain credit information on our platform to get the required credit facilities from lenders until you have an account on the Hindcred App.
We are deemed to be authorized by the user to get you the best possible credit facility offers from Kemex Engineering Pvt. Ltd. and other lending partners. By agreeing to the terms and conditions you are hereby deemed to have given authorization that you are willing to take credit facilities through our platform by the entities solely selected by you.
With this authorization, Hindcred and its affiliates are authorized to make calls and send texts and emails to you regarding certain loan facilities via different lenders suitable as per your eligibility.
The user is deemed to have unequivocally and unconditionally approved Hindcred to share ‘Personal Information’ & ‘Sensitive Personal Information’ with the credit bureaus and other entities through which loan facilities might be taken. The phrases "Personal Information" and "Sensitive Personal Information" in these terms and conditions related to credit information and loan recommendation are defined per the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data & Information) Rules, 2011.
You acknowledge and accept that we do not support, advocate, counsel, or approve any of the third parties or their goods just because loans or other financial products from them are displayed on our App. Additionally, you acknowledge that Hindcred is not liable for the timeliness, accuracy, or completeness of any information it gets from these third-party financial institutions.
Users sharing his/her personal information, including PAN details, phone numbers, email addresses, and other relevant details through our platform to third-party credit issuers, must be done at their own risk. We own no responsibility and liability concerning the act, error, omission, warranty, representation, breach, or negligence done by the third party resulting in your losses.
The provisions established for loan sanction by the credit issuers selected by the user based on their needs must be dealt with separately, as we hold no responsibility for any rejection or delay in the application approval.
Hindcred is authorized to deactivate your account from our application in a case where it suspects that the user has provided any fake, untrue, inaccurate, old, or even incomplete information on the portal related to their credit information. Even if the user is not in alliance with the terms and conditions of these credit issuers, our privacy policy, SSO-ID T&Cs the account of the user may be deactivated. The use of these credit facilities by the user would be terminated with immediate effect on such findings.
Any clause whose sole purpose is to solve the dispute and negate such deactivation, mentioned in these credit issuers' or loan referrers' T&Cs, would be considered before any deactivation.
In a case where a user has been terminated from the portal, he/she may not be able to access our portal and services. The user ID will be deactivated and cannot be used for logging in to the application. On such termination, the personal details collected by us will be dealt with as per the provisions mentioned in our privacy policy.
Hindcred is not responsible for controlling and managing your credit reports and credit scores. However, if there is any wrong information in the report, the user can raise a dispute by directly accessing the credit bureau’s website.
We do not provide any warranty for the services offered by our platform, and we are in no way responsible for any inaccuracy, incorrectness, or infringement since these services are provided ‘as is’ and made available by financial institutions.
We are not responsible for the acts of the financial institutions or any losses accrued by the user by the act of any third party. It is to be noted that we are not bound by a client-consultant relationship, and we are just a platform to assist you in getting credit facilities from Kemex Engineering Pvt. Ltd. or any other lending partners.
The information and content provided in the platform are not meant for making business investments and transactions at any level. The user acknowledges that the credit facilities availed by you are solely dependent on your discretion, and neither we nor any credit bureau are liable for any losses accrued by the user during such transaction.
The user must provide all the details in true form to avail the services from our platform, or else the account will be deactivated. The request for a credit facility might be denied if any of the details provided by the user do not match the information already existing with the credit bureaus. It will also be denied in a case where complete details are not provided, or the application does not authorize the registration.
The information of the user is collected, used, and disclosed by Hindcred as stated in its privacy policy. The user is deemed to have agreed to the T&Cs and privacy policy as soon as they proceed with the registration.
We do not share the personal information of users apart from those that are listed above and are mandatory to be shared for serving the purpose. This information is shared as per the stated law, government authorization and include credit information, employment information, credit history, and others permitted by law.
In a case that the user uses the Credit Facility services or violates any of these Terms and Conditions or other applicable terms pertaining to the Credit Facility service, you agree to defend, indemnify, and hold harmless Hindcred, the Credit Bureaus, and their affiliates, as well as their officers, employees, directors, licensors, agents, suppliers, and any providers of information related to the Credit Facility service, against any losses, damages, costs, or expenses, including reasonable legal fees.
This also covers any intellectual property rights infringement by Hindcred, the Credit Bureaus, or any other party, as well as any third-party claims pertaining to your authorization or use of your credit information.
To facilitate convenient working, the Hindcred application might contain suggestions for other apps or websites. However, we are in no way responsible for any content, claim, or working methodology of such referenced application or website. We do not endorse, adopt, or represent any other platform apart from ours and will be in no way responsible for any harm to the user through those references. It is under the discretion of the user of how they use these applications.
The user must comply with all applicable laws while using the credit facility service and their credit information and must also disclose all information true to their knowledge. The user is deemed to indemnify Hindcred, the credit facility service, and its management from all harms that may arise out of any false claims or losses through the information provided.
The applicable laws must be followed, and in case of disputes, the courts will have exclusive jurisdiction in New Delhi and not any other state.
The user cannot transfer his/her rights to any other person whose rights are conferred upon him/her by either Hindcred or Loan referral T&Cs and credit information bureaus. These rights are personal, and Hindcred is not answerable to any third person.
In a case where it is found that any clause mentioned through Hindcred or Loan referral T&Cs and credit information bureaus is invalid as per new amendments in the laws, the other clauses contained will be unaffected and will hold the same importance.
Hindcred has the right to review, revise, or change the T&Cs of the application from time to time whenever there is an amendment by the government in the applicable laws. We have the right to exercise any right on a later date for infringement against you if we fail to use those at the time of happening of such an event.
We are available for contact 24*7 in case of any inconvenience or issues faced by the user. Our customer care executives are there to help you out with any information, process-related queries, credit information services, and any other information or service which we provide as agreed upon.
The users may visit our website through https://hindcred.com/ as well in case of any queries. For the resolution of queries, the user can fill out the attached form on our website by clicking on ‘Contact Us’ or by mailing the query to [email protected].
Immerse yourself in captivating tales, expert advice, and delightful surprises. Don’t miss out - subscribe to our newsletter today!
