Terms and Conditions for Global Microfinance Bank
These Terms and Conditions ("Terms") govern your use of the loan services provided by Global Microfinance Bank ("we," "us," or "our"). By applying for or using our loan products, you agree to comply with and be bound by these Terms. Please read them carefully before proceeding.
1. Eligibility
To apply for a loan, you must:
Be at least 18 years old.
Be a legal resident of India.
Have a valid government-issued ID.
Meet our credit and income requirements as outlined in the loan application.
2. Loan Application
By submitting a loan application, you authorize Global Microfinance Bank to verify your identity, creditworthiness, and other relevant information. We may use third-party agencies to perform these checks.
3. Loan Approval and Disbursement
Loan approval is subject to our internal review and approval process. If approved, funds will be disbursed to your designated account or as otherwise agreed. Disbursement times may vary based on the loan type and processing times.
4. Interest Rates and Fees
The interest rates and fees associated with our loans will be disclosed during the application process. These rates may vary based on your credit history, loan type, and repayment terms.
5. Repayment Terms
Repayment schedules will be provided to you upon loan approval. You agree to repay the loan in full, including principal, interest, and applicable fees, by the due date. Early repayment may be subject to penalties, as stated in your loan agreement.
6. Late Payments and Default
If you fail to make payments on time, you may incur late fees and interest penalties. Continued non-payment may lead to the loan being considered in default, and we may take legal action to recover the outstanding balance.
7. Personal Data and Privacy
By using our loan services, you consent to the collection and use of your personal data as described in our Privacy Policy. We will handle your data with confidentiality and in compliance with applicable laws.
8. Loan Refinancing and Consolidation
If applicable, we may offer options to refinance or consolidate existing loans. The terms of these services will be provided separately, and you must meet the necessary eligibility requirements.
9. Changes to Terms
Global Microfinance Bank reserves the right to modify or update these Terms at any time. Any changes will be posted on our website, and the revised Terms will become effective immediately upon posting.
10. Governing Law
These Terms are governed by the laws of [Country/Region]. Any disputes arising from these Terms will be resolved in the courts of [Jurisdiction].
11. Limitation of Liability
Global Microfinance Bank is not liable for any damages or losses resulting from your use of our loan services, except as required by law. Our liability is limited to the maximum extent permitted under applicable law.
12. Contact Information
For any questions or concerns regarding these Terms, please contact us at:
Email: support@globalmfb.com
By using our loan services, you acknowledge that you have read, understood, and agree to these Terms and Conditions.
