Terms and Conditions

1. General Terms

These terms apply to all users of the Swarajya Bandhan Micro Foundation website and micro-lending services. We reserve the right to update these terms at any time. The updated version will be posted here with the revised date. Continued use of our services constitutes acceptance of the new terms.

2. Eligibility for Loan Services

To apply for a loan, you must:

• Be at least 21 years old and not exceed 65 years at loan maturity
• Be a resident of India with valid KYC documents (Aadhaar, PAN, etc.)
• Have a verifiable source of income or business activity
• Not be declared insolvent or have active defaults with any financial institution

3. Loan Application & Disbursement

By submitting a loan application, you agree to:

• Provide accurate, complete, and truthful information
• Authorize credit bureau checks (CIBIL, Experian, etc.)
• Allow field verification of residence and business
• Accept digital loan agreements via Aadhaar e-Sign or OTP

Loan approval is at the sole discretion of Swarajya Bandhan Micro Foundation. We reserve the right to reject any application without assigning a reason.

4. Repayment Obligations

You agree to:

• Repay the loan in Equated Monthly Installments (EMIs) as per the agreed schedule
• Pay on or before the due date via authorized channels (bank transfer, UPI, cash at branch)
• Bear late payment charges @ 2% per month on overdue amounts
• Allow auto-debit (NACH/ECS) from your bank account if enrolled

5. Prepayment & Foreclosure

You may prepay the loan at any time with zero foreclosure charges for loans up to ₹2 lakh. For larger loans, nominal charges may apply as per RBI guidelines.

6. Use of Loan Funds

Loan funds must be used only for income-generating activities such as:

• Business expansion, working capital, or asset purchase
• Agriculture, livestock, or micro-enterprise
• Education or skill development (with prior approval)

Prohibited uses: Gambling, speculation, or illegal activities.

7. Privacy & Data Usage

We collect and process your personal and financial data solely for loan processing, risk assessment, and regulatory compliance. Your data is protected as per our Privacy Policy and applicable laws (IT Act, DPDP Act).

8. Default & Recovery

In case of default:

• We may report to credit bureaus
• Recovery agents may visit your premises
• Legal action may be initiated under the SARFAESI Act or Negotiable Instruments Act

We follow RBI’s Fair Practices Code for lenders.

9. Intellectual Property

All content, logos, and materials on this website are the property of Swarajya Bandhan Micro Foundation. Unauthorized use is prohibited.

10. Limitation of Liability

We are not liable for any indirect, incidental, or consequential damages arising from loan usage, website access, or service interruptions. Loans are offered on an “as-is” basis.

11. Governing Law & Dispute Resolution

This Agreement is governed by the laws of India. Any disputes shall be resolved through:

• Mutual discussion
• Mediation at the District Consumer Forum
• Arbitration under the Arbitration and Conciliation Act, 1996

Venue: [Your City/District]

12. Changes to Terms

We may revise these terms at any time. Changes will be posted here. Your continued use of services after changes implies acceptance.