This Loan Agreement (“Agreement”) sets out the rights and obligations of the borrower (“You”) and the lender (“We”) when you request or receive a personal loan through this mobile application (“App”).
By submitting a loan application or accepting a sanctioned loan, you acknowledge that you have read, understood, and agreed to the terms below.
All loans granted through this App are issued by:
DAZZLING LEASING AND FINANCE PRIVATE LIMITED
Address: Cabin No. 1, Flat No I 52, Lower Ground Floor, , New Delhi, Delhi, India - 110024
CIN: U74899DL1994PTC058690
NBFC Certificate of Registration: B-14·02857
Email: supports@dazzlingleasing.com
Phone: +91 8445616859
The lender is a registered Non-Banking Financial Company (NBFC) governed by the Reserve Bank of India (RBI).
Loan products available in the App offer clear and predictable terms:
Loan Amount: ₹1,000 to ₹100,000
Loan Tenure: 120 to 360 days
Maximum Annual Percentage Rate (APR): 20%
Processing Fee: 1% of loan principal
GST: 18% applied to the processing fee
For a loan of ₹10,000 with a 180-day tenure:
Processing Fee: ₹10,000 × 1% = ₹100
GST on Fee: ₹100 × 18% = ₹18
Amount Disbursed: ₹10,000 – ₹118 = ₹9,882
Interest (20% APR for 180 days):
₹10,000 × 20% × (180/365) ≈ ₹986
Total Repayment: ₹10,986
Actual loan terms may vary based on internal credit evaluation.
The final sanctioned loan amount will be displayed within the App and must be confirmed by both parties electronically.
Disbursement will occur only after borrower consent and completion of required verification.
By applying for a loan, you affirm that:
Accuracy of Information: All personal and financial details submitted are correct.
Repayment Commitment: You will repay the principal and interest according to the schedule shown in the App.
Credit Review Authorization: You authorize the lender to access credit bureau records, financial history, and other data necessary for evaluation.
Legal Use of Funds: Loan proceeds will be used solely for legitimate and lawful purposes.
Failure to comply with these responsibilities may result in additional charges or legal action.
Repayments must be made on or before the due dates specified in the App.
In the event of late payment, overdue interest or charges may apply until the outstanding amount is cleared.
Prepayment: You may prepay part or all of the loan without violating any rights under applicable laws.
Repayment reminders may be sent through SMS, email, notifications, or calls.
A repayment is considered in default if it remains unpaid beyond the due date.
In case of default, the lender may:
Report overdue status to recognized credit bureaus
Engage authorized recovery partners
Initiate lawful proceedings for debt recovery
Apply overdue interest as permitted by regulations
The borrower shall bear any legal or financial consequences resulting from default.
The lender commits to:
Disburse the approved loan amount (minus applicable fees) directly to the verified bank account
Provide a clear repayment schedule
Ensure transparent disclosure of all fees, charges, and interest
Protect borrower data using robust security measures in compliance with applicable laws
To qualify for a loan, the borrower must:
Be an Indian citizen or legal resident
Be between 20 and 60 years of age
Possess full legal capacity to enter into this Agreement
Complete all required verification procedures
This Agreement may be updated periodically.
Any revised terms will be displayed within the App.
Continued use of loan services after updates constitutes acceptance of the revised Agreement.