Terms & Conditions
1. Introduction and Acceptance
These Terms & Conditions (the “Terms”) govern your access to and use of the website and digital services of Collocate Merchants Private Limited (the “Company”, “Collocate”, “we” or “us”), a Non-Banking Financial Company registered with the Reserve Bank of India (“RBI”), and your availing of loan products offered by the Company through its designated Digital Lending App (DLA) and Lending Service Provider (LSP), LoanDidi (the “Platform”). By accessing the website or the Platform, or by applying for or availing any loan, you confirm that you have read, understood and agree to be bound by these Terms, the Privacy Policy and the applicable loan documentation.
2. Definitions
“Borrower” or “You” means a person who applies for or avails a loan; “KFS” means the Key Fact Statement; “Loan Agreement” means the agreement executed between the Company and the Borrower; and “Services” means the lending and allied services made available by the Company. Capitalised terms not defined here carry the meaning given in the Loan Agreement, the KFS or applicable law.
3. Eligibility
To use the Services you must be a resident of India, at least 18 years of age, competent to contract under the Indian Contract Act, 1872, and able to satisfy the Company’s eligibility, KYC and creditworthiness criteria. The Company may decline any application at its discretion, in accordance with its credit policy and applicable law.
4. Scope of Services and Role of the Parties
The Company is the lender of record for all loans. LoanDidi acts as the Company’s DLA/LSP for sourcing, onboarding and servicing, under contract and in compliance with the RBI (Digital Lending) Directions, 2025. Sanction, disbursement and recovery are undertaken only by the Company. The identity of the Company (as the Regulated Entity), the LSP and the DLA is disclosed at every stage, including the Platform interface, the sanction letter, the KFS and the Loan Agreement.
5. Application, KYC and Accurate Information
- You agree to provide true, current and complete information, and to complete KYC and verification as required under applicable RBI norms.
- You authorise the Company and its authorised partners to verify your information, obtain your credit information from credit bureaus, and process your data in accordance with the Privacy Policy.
- You are responsible for maintaining the confidentiality of your account credentials and for all activity under your account.
6. Loan Terms, Fees and Charges
The specific terms of any loan — including the loan amount, interest rate, Annual Percentage Rate (APR), tenure, repayment schedule, processing fee, penal charges and other charges — are set out in the sanction letter, the KFS and the Loan Agreement, and are governed by the Company’s Interest Rate & Charges Policy and Fair Practices Code. In the event of any conflict, the Loan Agreement and the KFS prevail over these Terms. No undisclosed or retrospective charge will be applied.
7. Repayment, Mandates and Disbursement
Repayment is made by the agreed instalments on the due dates, ordinarily through an e-NACH or UPI AutoPay mandate registered in favour of the Company. Disbursement, where approved, is made to your verified bank account through the Company’s banker, IDFC First Bank Ltd. You agree to maintain sufficient balance on each due date and not to cancel the mandate-linked account without the Company’s prior written consent.
8. Acceptable Use of the Platform
- You will use the website and Platform only for lawful purposes and will not attempt to gain unauthorised access, introduce malicious code, scrape data, or interfere with the operation or security of the Platform.
- You will not impersonate any person, misstate your identity, or use the Services to facilitate any fraudulent or unlawful activity.
9. Intellectual Property
All content on the website and Platform — including text, graphics, logos, and software — is owned by or licensed to the Company and its partners and is protected by applicable intellectual-property laws. You may not copy, reproduce or exploit any content without prior written permission, except as necessary for your personal use of the Services.
10. Third-Party Links and Services
The Platform may contain links to, or integrations with, third-party websites and service providers (for example, KYC, payment, credit-bureau and analytics providers). The Company is not responsible for the content or practices of such third parties, and your use of them is subject to their own terms and policies.
11. Privacy
Your personal information is collected, used, stored and shared in accordance with the Company’s Privacy Policy, which forms part of these Terms. Data is stored in India and handled in compliance with the Digital Personal Data Protection Act, 2023, the IT Act and Rules, and applicable RBI directions.
12. Disclaimers
The website and Platform are provided on an “as is” and “as available” basis. While the Company endeavours to keep information accurate and the Platform available, it does not warrant uninterrupted or error-free operation, and the availing of any loan is always subject to the Company’s approval, applicable law and the executed Loan Agreement. Nothing on the website constitutes an offer or commitment to lend.
13. Limitation of Liability and Indemnity
To the extent permitted by law, the Company will not be liable for any indirect, incidental or consequential loss arising out of your use of the Services. You agree to indemnify and hold the Company harmless against any loss, claim or expense arising from your breach of these Terms, your provision of inaccurate information, or your violation of any applicable law.
14. Communications and Consent
By using the Services, you consent to receive communications from the Company and its authorised partners by SMS, email, telephone, WhatsApp and in-app notifications in connection with your application, loan and servicing. Recovery-related contact will ordinarily be made only between 08:00 and 19:00 hours, in line with the Fair Practices Code.
15. Grievance Redressal
Grievance Redressal Officer
Name: Mr. Aditya Khandelwal
Email: 11adityakh@gmail.com
Phone: +91 99772 66990
If a complaint is not resolved within 30 days, or you are not satisfied with the resolution, you may approach the RBI through the Complaint Management System portal at cms.rbi.org.in or the RBI Contact Centre at 14440. Please refer to the Company’s Grievance Redressal Policy for the full mechanism.
16. Governing Law, Jurisdiction and Amendments
These Terms are governed by the laws of India. Disputes will be referred to arbitration under the Arbitration and Conciliation Act, 1996 by a sole arbitrator, with the seat at Kolkata and proceedings in English; the courts at Kolkata, India will have exclusive jurisdiction over residual matters. The Company may amend these Terms from time to time, with the revised version posted on the website; your continued use signifies acceptance of the amended Terms.