Please read the following terms and conditions carefully before applying for a personal loan or
credit card with MilegaLoan. By applying, you agree to the following terms:
1. Loan and Credit Card Eligibility
- Applicants must be at least 18 years of age and have a valid government-issued ID.
- Eligibility for personal loans and credit cards will be based on the applicant’s credit
history, income level, and financial standing, as determined by the lenders.
- Applicants must provide accurate and up-to-date information during the application process.
Any false or misleading information may result in the rejection of the application.
2. Loan Terms
- Loan amounts, interest rates, and repayment periods will be determined based on the
applicant's eligibility and financial profile.
- Repayment must be made as per the agreed-upon tenure, with options for monthly or
quarterly payments, depending on the loan agreement.
3. Credit Card Terms
- Credit card limits will be determined based on the applicant’s credit score, income, and
spending habits.
- All credit card users are responsible for making timely monthly payments. Failure to do
so may result in penalties and could impact your credit score.
- Cash advances and purchases are subject to interest rates specified in the credit card
agreement. Rates may vary based on your creditworthiness.
4. No Hidden Charges
- All charges related to personal loans and credit cards, including processing fees,
interest rates, and other applicable fees, will be clearly communicated at the time of
application.
- MilegaLoan does not impose hidden fees. Any applicable fees will be transparent and
disclosed upfront during the application process.
*It is advised to thoroughly check all the fees and charges with the lender before going
for their product.
5. Processing and Approval
- Applications for personal loans and credit cards are subject to approval based on
our internal assessment of the applicant’s creditworthiness, financial condition,
and documentation.
- Approval and disbursement of funds may take up to a specific number of working hours
after all required documentation has been verified.
- MilegaLoan and their lenders reserves the right to reject any application without
providing specific reasons for rejection.
6. Interest Rates
- Interest rates on loans and credit cards will vary based on market conditions,
credit history, and other factors assessed during the application.
- Rates are subject to change based on regulatory requirements or market conditions,
but any changes will be communicated in advance.
7. Default and Late Payments
- Failure to make timely payments as per the loan or credit card agreement will result
in late payment charges, as specified in the agreement with the lender.
8. Privacy and Data Security
- All personal and financial information provided by applicants will be securely
stored and protected in accordance with applicable data protection laws.
9. Modification of Terms
- MilegaLoan reserves the right to modify these terms and conditions at any time.
Any changes will be communicated to existing customers in advance, with the
option to accept or decline the new terms.
- Continued use of the loan or credit card services after receiving notice of
changes to terms will be considered acceptance of the new terms.
10. Governing Law
- These terms and conditions are governed by the laws of India.
11. Customer Support
- For any queries or concerns regarding your personal loan or credit card, please
contact our customer support team at [email protected].
