Legal

Welcome to MasterLoans. MasterLoans is committed to providing customers with information that is clear, understandable and useful when exploring personal-loan options. Because lending arrangements may involve independent banks, Non-Banking Financial Companies (NBFCs), financial institutions or other authorised lending partners, the specific contractual relationship for any loan will be determined by the applicable lender and the documents provided to the borrower.

Please read this page together with the MasterLoans Privacy Policy, Terms & Conditions and Disclaimer.

1. Nature of the MasterLoans platform

MasterLoans provides a digital environment through which customers may explore personal-loan options, submit information for eligibility assessment, complete applicable verification processes and, where available, proceed with a loan application through an applicable lending partner.

MasterLoans may act as a technology platform, facilitator, intermediary or Lending Service Provider (LSP) / Direct Selling Agent where applicable, depending on the particular arrangement with a regulated lending entity.

Where a loan is offered by a lending partner, the lending partner determines whether the application satisfies its credit, eligibility, verification and underwriting requirements. The applicable lender’s name and relevant contractual information should be reviewed carefully before a customer accepts a loan.

2. Relationship with lending partners

A loan application submitted through MasterLoans may be processed or evaluated by an applicable lending partner. The lending partner may independently assess information such as income, employment, credit history, requested loan amount, repayment capacity, documentation and other eligibility factors.

MasterLoans does not represent that every applicant will receive a loan, a particular loan amount, a particular interest rate or any other specific financial facility. Where applicable, the lending partner remains responsible for the lending decision and the contractual loan relationship.

Customers should therefore review the lender’s sanction letter, Key Fact Statement (KFS), loan agreement and other applicable documents before accepting an offer. For digital lending arrangements governed by applicable RBI requirements, regulated entities have continuing responsibilities even where Lending Service Providers or digital platforms are involved.

3. Loan approval and eligibility

Any eligibility result displayed through MasterLoans should be treated as an indication and not as a final commitment to lend. Eligibility may depend on several factors, including:

• age and applicable legal eligibility;
• residential location;
• employment or income status;
• income level and stability;
• existing financial obligations;
• credit history and credit information;
• requested loan amount;
• requested repayment period;
• information supplied by the applicant;
• verification results; and
• criteria established by the applicable lending partner.

An initial eligibility indication may change after further verification. Final approval, loan amount, interest rate, fees, tenure and other contractual terms are subject to the applicable lender’s assessment and written documentation.

4. Accuracy of customer information

Customers are responsible for providing information that is accurate, complete, current and capable of verification. Information supplied during an application may be used for eligibility assessment, verification, fraud prevention, credit assessment, customer communication and other lawful purposes explained in the applicable privacy documentation.

Providing false, incomplete, misleading or unauthorized information may affect the processing of an application and may result in rejection, cancellation or other consequences under applicable law or contractual terms. Customers should immediately notify the relevant service provider if they discover a material error in information submitted during the application process.

5. Transparency of loan costs

Customers should carefully review the total cost of borrowing before accepting any loan. Depending on the applicable lending arrangement, this may include interest, Annual Percentage Rate (APR), processing charges, applicable taxes, late or penal charges, prepayment-related charges where permitted, and other disclosed costs.

For digital lending products covered by RBI requirements, the applicable regulated entity is required to provide a Key Fact Statement before execution of the loan contract, including the applicable APR and other prescribed information. A customer should not rely solely on an EMI figure when evaluating a loan. The complete cost and repayment obligations should be reviewed in the applicable documentation.

6. Electronic documents and communications

MasterLoans and/or an applicable lending partner may communicate with customers electronically. Depending on the service, communications may include application updates, eligibility information, verification requests, loan documents, repayment information, customer-service messages and legally required notices.

Customers should provide an active mobile number and email address where requested and should regularly review communications relating to their application. Where applicable, loan documentation may be delivered electronically through registered communication channels. Customers should retain copies of important documents for their records.

7. Data protection and confidentiality

MasterLoans recognises that personal-loan applications may involve sensitive financial and identification-related information. Personal information should be collected, processed, stored and shared only for legitimate and disclosed purposes and in accordance with applicable law and the MasterLoans Privacy Policy.

Where digital lending requirements apply, data collection should follow applicable requirements relating to consent, necessity, security, storage and responsible use. RBI’s digital-lending framework also addresses the handling and storage of customer data by regulated entities and their digital lending partners. India’s Digital Personal Data Protection framework also establishes requirements concerning the processing and protection of digital personal data, with the notified Rules providing an implementation framework.

8. Customer protection and fair dealing

MasterLoans aims to present loan-related information in a manner that enables customers to make informed decisions. Customers should have sufficient opportunity to review applicable financial information before entering into a loan agreement. No customer should assume that using MasterLoans guarantees approval or a particular financial outcome.

Customers should also remain alert to unauthorized persons requesting money, passwords, OTPs, card credentials or other confidential information while claiming to represent MasterLoans or a lending partner. MasterLoans should never be treated as a substitute for reviewing the actual contractual documents supplied by the applicable lender.

9. Grievance redressal

Customers may raise service-related concerns through the designated MasterLoans support or grievance channel:

Where a loan is provided by a regulated lending entity, customers should also refer to the grievance mechanism specified by that lender. Applicable RBI digital-lending requirements provide for grievance-redressal mechanisms and disclosure of relevant grievance contacts for covered arrangements. See also our Grievance Redressal page.

10. Regulatory and legal changes

Financial services, digital lending, privacy and consumer-protection requirements may change from time to time. MasterLoans may update its legal documents when necessary to reflect changes in applicable law, regulatory directions, business arrangements, technology or services. Customers should review the latest version of the applicable policies before using the platform or proceeding with a new application.

11. Intellectual property

Unless otherwise stated, content appearing on the MasterLoans website, including its branding, text, graphics, design elements, logos and original materials, may be protected by applicable intellectual-property laws. Website content may not be reproduced, modified, distributed or commercially exploited without appropriate authorization, except where permitted by law.

12. No waiver of legal rights

Nothing on this page is intended to remove, restrict or waive any right or protection that cannot lawfully be excluded under applicable Indian law. Where any provision of this Legal page conflicts with a mandatory legal requirement or an executed loan agreement, the applicable law or contractual provision will govern to the extent legally required.

13. Contact

For questions relating to MasterLoans’ website, policies or services, contact:

For loan-specific contractual questions, customers should also refer to the lender and the loan documents supplied to them.