Terms of Service

THESE TERMS OF SERVICES IS AN ELECTRONICRECORD IN THE FORM OF AN ELECTRONIC CONTRACT FORMED UNDER APPLICABLE LAWS ANDTHE PROVISIONS PERTAINING TO ELECTRONIC DOCUMENTS / RECORDS IN VARIOUSSTATUTES. THIS TERMS OF SERVICE DOES NOT REQUIRE ANY PHYSICAL, ELECTRONIC ORDIGITAL SIGNATURE

PLEASE READ THIS TERMS OF SERVICE CAREFULLY. BY USING THE PLATFORM, YOUINDICATE THAT YOU UNDERSTAND, AGREE AND CONSENT TO THIS TERMS OF SERVICE. IFYOU DO NOT AGREE WITH THE TERMS OF THESE TERMS OF SERVICE, PLEASE DO NOT USETHE PLATFORM OR SERVICES.

This Terms of Service of the website locatedat the URL www.insurfin.in and otherassociated/ancillary applications, products, websites and services and allother variations and sub-domains of the same (collectively referred to as “Platform”) is between Achanchal Insurtech Solutions Private Limited (referred as “Company”or “we” or “us” or “our"), and the registeredAssociates, defined to include any person who registers himself/herself/itselfon the Platform and holds an Account on the Platform or a visitor on thePlatform, as the case may be(referred as "you" or "your"or “Associate”). These Terms and Conditions describe the terms on whichCompany offers Services.

These Terms and Conditions area contract between you and the Company. ThisTerms of Service shall be read together with the Privacy Policy availableon https://www.insurfin.in/privacy_policy orother terms and condition with all other notices, disclaimers, guidelinesappearing on the Platform from time to time (collectively referred to as "Termsand Conditions") constitute the entire agreement upon which you areallowed to access and use the Platform and avail the Services. By accessing thePlatform, you are agreeing to be bound by these Terms and Conditions, allapplicable laws and regulations, and agree that you are responsible forcompliance with any applicable local laws. Your continued use of the Platformshall constitute your acceptance to the Terms and Conditions, as revised fromtime to time.

You and the Company shall hereinafter beindividually referred to as a “Party” and collectively as the “Parties.

1) CLICK TO ACCEPT

Before using certain areas of the Platform youmaybe asked to indicate your acceptance of additional special terms andconditions by clicking a button marked "I Accept" "I Agree""Okay" "I Consent" or other words or actions that similarlyacknowledge your consent or acceptance of a Click-Through Terms and Conditionsor you may indicate your acceptance by executing a statement of work “Statementof Work” form issued by the Company. Any consent so provided by you will bedeemed to be valid consent under all applicable laws.

2) UPDATION OF TERMS ANDCONDITIONS

Your use of the Platform is subject to theTerms and Conditions, which may be updated, amended, modified, or revised by usfrom time to time. To ensure that you are aware of any additions, revisions,amendments, or modifications that we may have made to these Terms andConditions, it is important for you to refer to the Terms and Conditions fromtime to time. The updated Terms and Conditions shall be effective immediatelyand shall supersede these. We may, but shall not be under an obligation tonotify you of any changes to the Terms and Conditions. You shall be solelyresponsible for reviewing the Terms and Conditions from time to time for anymodifications. If you continue to use the Platform and/or Services after theupdated Terms and Conditions have been published, it shall be deemed that youhave read and understood and accept the updated Terms and Conditions. Anyreference to Terms of Service herein shall refer to the latest version of theTerms of Service.

3) SERVICES

The Company is building a solution for thefinancial distributor or Corporate Entities to help manage their customers by facilitating credit for purchase ofinsurance policies, and also for any other purpose, as deemed appropriate,

The Company provides a software as a servicesolution for the financial distributor/ Corporate Entity, i.e., you, whereinthey can help finance the loan, for the customer of the Associate (“Customer”).

Company reserves the right to update thePlatform and /or Services, in order to, inter alia, introduce new features orServices, enhance existing features or Services, improve Associate experienceand performance. You hereby agree that Company will be able to provide supportservices only if you install all the updates upon receiving notifications whileusing the Platform and its Services.

4) ELIGIBILITY AND ACCOUNTREGISTRATION

b) By using the Platform,you affirm that you are fully able and competent to accept the Terms andConditions and the obligations, affirmations, representations, warranties setforth in the Terms and Conditions, and to abide by and comply with the termsstated therein. Registration of Associate in the Platform is available only topersons who can form legally binding contracts. Persons who are “incompetent tocontract” including un-discharged insolvents, or person with unsound mind etc.,as per the applicable law are not eligible to use the Platform.

c) You must register anaccount on the Platform (an “Account”). The Company provides aself-service product wherein Associates can directly onboard themselvesvia www.insurfin.in.

d) When you register on thePlatform and set up your Account, you must: (i) provide accurate and completeinformation;(ii) promptly update your Account information with any newinformation that may affect the operation of your Account; (iii) authorizeCompany to make any inquiries we consider necessary or appropriate to verifyyour Account information or the information you provide to us via the Platformincluding document proofs or copies or any such information as requiredmandatorily by applicable law that need to be provided to us; and (iv)acknowledge and accept any applicable policies, including but not limited tothose pertaining to service quality, confidentiality, Associate integrity,anti-harassment and conflict of interest. You will not use false identities orimpersonate any other person or use another account that you are not authorizedto use on any computer, mobile phone, tablet, or other device (collectively “Device”).

e) You are responsible forsafeguarding and maintaining the confidentiality of your Account information.You agree not to disclose your Account information to any third party and thatyou are entirely and solely responsible for any and all activities or actionsthat occur pursuant to the use of your Account on the Platform, whether or notyou have authorized such activities or actions. You will immediately notifyCompany of any unauthorized use of your Account. You may be held liable forlosses incurred by Company due to authorized or unauthorized use of yourAccount as a result of your failure in keeping your Account Information secureand confidential.

f) If you provide anyinformation that is untrue, inaccurate, not current or incomplete (or becomesuntrue, in accurate, not current or incomplete), or Company has reasonablegrounds to suspect that such information is untrue, inaccurate, not current orincomplete, Company has the right to suspend or terminate your Account andrefuse any and all current or future use of the Platform / Services (or anyportion thereof).

5) PLATFORM LICENSE

a) Subject toyour compliance with these Terms, Company grants you a limited license,non-exclusive, non-transferable license, revocable: (i) to view, download andprint any content of Platform solely for their internal purposes; and (ii) toaccess, modify, edit, and download any transactional content, to which you arepermitted access solely for your use. You have no right to sublicense thelicense rights granted herein.

b) You will notuse, copy, adapt, modify, prepare derivative works based upon, distribute,license, sell, transfer, publicly display, publicly perform, transmit, stream,broadcast or otherwise exploit the Platform and Services, except as expresslypermitted in the Terms. No licenses or rights are granted to you by implicationor otherwise under any Intellectual Property Rights owned or controlled by Companyor its licensors, except for the licenses and rights expressly granted in theTerms. The Platform and the Intellectual Property Rights vested therein isowned by Company.

c) You agreethat this Platform and its Services are made available to you on anon-exclusive, non-transferable, non-sublicensable, revocable and on a limitedlicense basis and hence, you will not permit, enable, introduce or facilitateother persons to participate in availing Services from your Account, includingothers who may be subject to an agreement that is the same or similar to thisTerms and Conditions.

6) FEES AND PRICING

Fees and pricing shall be in accordance withthe Statement of Work executed separately between us and you.

7) REFUND AND CANCELLATION

In case of a concern, Associates can reach outvia email at contact@insurfin.in and the team can internally evaluate grievances to processrefunds/cancellations.

They can also reach out to the grievanceofficer “Sambit Rath” via email at sambit@insurfin.in in case the matter remains unresolved

Amount once paid for availing of a Servicewill not be refunded, unless the amount has been paid in excess, or transactionhas got aborted due to technical error.

In cases, where the Company has made payoutsto Associates for selling the product, and the product has subsequently gotcancelled, the Associates will have to refund the product commission.

8) ONBOARDING OF CUSTOMERS

The Associate represents and warrants thatthey have lawfully obtained consent from the Customer before disclosing anyCustomer’s information to the Company. The Associate shall be solelyresponsible and liable for any breaches or consequences arising from thedisclosure of Customer’s information, affirming responsibility for ensuring thelegality and proper authorization in sharing such Customer’s information withthe Company.

Onboarding Process:

i. TheAssociate will have discussions with the Customer regarding the services andthe processes.

ii. TheCustomers shall provide their details that are required by the Associate foronboarding on our Platform.

iii. E-mailverification will be done, and the Terms of Service and Privacy Policy shall beshared with the Customer over the email.

iv. Geo-locationverification of the Customer will be done.

v. Customershall then, access the Platform and upload their KYC documents, in case notalready done, and complete the KYC verification.

Associate shall ensure that the Customer hasduly read, fully understood and consented to the Company’s Terms andConditions. Customer hereby acknowledges, agrees, and gives consent to theseTerms and Conditions. This consent provided by the Customer will be deemed tobe valid consent under all applicable laws.

The Customer hereby confirms and understandsthat this onboarding and entering of data on ourPlatform is to avail a loan ora credit from one or more lending partners(“Lending Partner” or “NBFC”) usingthe Services provided by us.

The Customer hereby understands andacknowledges that the information requested from them is used for the variouspurposes in a manner as set out in our Privacy Policy, including for thepurposes of us / Associates complying with various laws, regulations andguidelines (including Know Your Customer (KYC) norms /Anti-Money Laundering(AML) standards / Combating of Financing of Terrorism(CFT) / Obligation ofbanks under the Prevention of Money Laundering Act, 2002)promulgated by theGovernment of India from time to time. Customer further acknowledges that ifyou do not provide the requested information on ourPlatform or to the concernedAssociates, it will not be possible to provide or continue its / their servicesto the Customer.

The Customer confirms that all the informationthat is uploaded and is provided on the Platform is true, accurate, correct andnot misleading. The Customer agrees to provide any further information anddetails on the Platform or to the Associates as is required for rendering theServices, from time to time.

The Customer hereby agrees and confirms thatwhen a loan is being applied for, we may on behalf of the Lending Partners,check your records, and any other information available with us, includingthose from the credit information companies and those at fraud preventionagencies, to assess the credit worthiness of the Customer, in addition toverifying their identity.

The Customer also agrees that if they availany loans through us, the Customer will not (i) use the proceeds thereof forany purpose other than as declared to us or our Lending Partners,(ii) accept orattempt to receive the credit facility in the form of cash or any other means,(iii) use the Services in violation of applicable law or (iv)circumvent orattempt to circumvent the provisions of any terms that apply to you or act in amanner that is fraudulent, malicious or otherwise prejudicial to our reputationdirect or indirect interests in relation to the Services.

The Lender Partner also has the right, andobligation, to report Customer’s details to credit information companies in theevent that the Customer has delayed repaying their loan instalment.

The Customer acknowledge that we do not lend any money directly to theCustomer, but arranges the loan for Customers from one or more LendingPartners.

The Customer understands that sanction of theloan(s) is at the sole discretion of the Lending Partners/NBFCs / banks and issubject to the Customer’s and Associate’s execution of necessary documents,providing any security(ies) and other closing formalities to the satisfactionof the concerned Lending Partner. The Customer agrees that the Lending Partnersat its sole discretion may reject the Customer’s application without providingany reasons, and that we reserve no right to appeal against this decision.

The Customer acknowledges and agrees thatthese Terms and Conditions are binding and enforceable by both the Company andthe Lender even after termination. Furthermore, the Customer acknowledges thatboth the Company and the Lender will collaborate and co-operate with each otherin the enforcement of these Terms and Conditions against the Customer.

9) RULES AND CODE OF CONDUCT

a) You shall notuse the Platform for any purpose that is prohibited by the Terms; or otherrules or policies implemented by us from time to time.

b) You shallcomply with all applicable local, provincial laws, and regulations inconnection with your availing of the Services.

c) You shallkeep Company informed of any technical issues or problems with the Platform, asand when the issues develop.

d) By way ofexample, and not as a limitation, you shall not (and shall not permit any thirdparty to) take any action (including without limitation host, display, upload,modify, publish, transmit, store, update or sharing of information) that: (i)would constitute a violation of any applicable law, rule or regulation orbelongs to another person; (ii) infringes on any intellectual property or otherright of any other person or entity; (iii) is threatening, abusive, harassing,defamatory, libelous, deceptive, fraudulent; or (iv) impersonates any person orentity (v)deceives or misleads the addressee about the origin of the message orknowingly and intentionally communicates any information which is patentlyfalse or misleading in nature but may reasonably be perceived as a fact, (vi)contain software virus or any other computer code, file or program designed tointerrupt, destroy or limit the functionality of any computer resource or(vii)is patently false and untrue, and is written or published in any form,with the intent to mislead or harass a person, entity or agency forfinancial gain or to cause any injury to any person;(viii) threatens the unity,integrity, defence, security or sovereignty of the country, friendly relationswith foreign states or public order or causes incitement to the commission ofany cognisable offence or prevents investigation of any offence or is insultingany other nation; and (ix) is hateful, or racially, ethnically objectionable,disparaging, relating or encouraging money laundering or gambling, or otherwiseunlawful in any manner whatever; (x) harms minors in any manner.

e) Furthermore,you shall not (directly or indirectly): (i) take any action that imposes or mayimpose an unreasonable or disproportionately large load on Company’s (or itsthird party providers’)infrastructure; (ii) interfere or attempt to interferewith the proper working of the Platform or any activities conducted on thePlatform; (iii) bypass any measures we may use to prevent or restrict access tothe Platform (or parts there of); (iv) decipher, decompile, disassemble,reverse engineer or otherwise attempt to derive any source code or underlyingideas or algorithms of any part of the Platform, except to the limited extentapplicable laws specifically prohibit such restriction; (v) modify, translate,or otherwise create derivative works of any part of the Platform; or (vi) copy,rent, lease, distribute, or otherwise transfer any or all of the rights thatyou receive hereunder.

f) TheCompany shall, upon obtaining knowledge by itself or been brought to actualknowledge by an affected person in writing or through email about anyinformation as mentioned above transmitted by the Associate on the Platform, beentitled to disable such information that is in contravention of this Clause.We shall also be entitled to preserve such information and associated recordsfor such period as required under applicable laws for production togovernmental authorities for investigation purposes.

g) You will notaccess the Platform, and/or its services, or the personal information of otherAssociates, available on the Platform in order to build a similar orcompetitive website, product, or service.

h) If are anIndividual, you will not access the Platform and/or its services for thepurpose of hiring, recruiting or inviting any other Associate to attend anyprogram, event, function, seminar, conference, talk, etc.

i) Youagree to immediately notify us of any unauthorised use, or suspectedunauthorized use of your Account, or any other breach of security, in relationto your personal information on the Platform.

j) OneAccount shall not be used by more than one Associate. Any use of an Account bya third-party would deem to be unauthorised usage. The Company reserves theright to disable any such Account from the Platform.

k) The Companyreserves the right to disable any Account from the Platform at any time for anyreason (including, but not limited to, upon receipt of claims or allegationsfrom third parties or authorities; or if Company is concerned that you may haveviolated the Terms of Use), or for no reason at all with or without notice tothe Associate/Associates.

10) USE OF YOUR INFORMATION

a) You mayprovide only information that you own or have the right to use. We may only usethe information you provide as permitted by our Privacy Policy and applicablelaw. Please closely review our Privacy Policy for more information regardinghow we use and disclose your personal information. Our Privacy Policy is herebyincorporated into these Terms of Service by this reference.

b) We ensureeasy access to the Associates by providing an option to update your Accountinformation. We reserve the right to moderate the changes or updates requestedby you.

c) We reservethe right to maintain, delete or destroy all information and materials postedor uploaded through the Services, pursuant to our internal record retentionand/or destruction policies. We (may/may not) make use of third-party cloudservices providers or use our own service infrastructure for hosting theservers and databases. While we make commercially reasonable efforts to ensurethat the data stored on our servers is persistent and always available to theAssociate, we will not be responsible in the event of failure of thethird-party servers or any other factors outside our reasonable control thatmay cause the Associate’s data to be permanently deleted, irretrievable, ortemporarily inaccessible.

d) Youacknowledge and agree that we may preserve your information and may alsodisclose your related information if required to do so by law; or in the goodfaith belief that such preservation or disclosure is reasonably necessary to:(a) comply with legal process, applicable laws or government requests; (b)enforce these Terms and Conditions;(c) respond to claims that any of your usageof the Platform violates the rights of third parties; (d) detect, prevent, orotherwise address fraud, security or technical issues; or (e) protect therights, property, or personal safety of the Platform, its Associates, or thepublic.

e) You agree andacknowledge that it is your responsibility to inform and ensure that theCustomers are aware of our Privacy Policy and agree to it. You shall ensurethat you and the Customers are at all times, compliance with the Companypolicies, Terms of Service and Privacy Policy.

f) We maydisclose or transfer Associate information to our affiliates or governmentalauthorities in such manner as permitted or if required by applicable law, andyou hereby consent to such transfer.

g) In accordancewith the applicable laws, we may transfer your Information to any other bodycorporate or a person in India, or located in any other country, that ensuresthe same level of data protection that is adhered to by us, only if suchtransfer is necessary for the performance of the lawful contract betweenCompany or any person on its behalf and the Associate or where the Associatehas consented to data transfer.

11) THIRD PARTY SITES

a) Whileavailing Services, Associates may connect with third-party service providers.The Company is not responsible for, and does not endorse, any third-partyservices mentioned on the Platform. It is hereby stated that Company shall inno way be responsible for any acts or omissions of third parties. Anytransaction, dealings or communication otherwise that the Associate may havewith such third parties are at the Associate’ sown risk and we make nowarranties, express or implied regarding the quality or suitability of theservices or products of such third-party vendors. You may be redirected to athird-party website upon clicking on such links, these web sites will begoverned by its privacy policy and terms of use. We shall not be responsiblefor any transaction or dissemination of information that may take place whileaccessing these third-party websites.

b) We attempt tobe as accurate as possible. However, we do not warrant those descriptions ofour content or other content of this site is accurate, complete, reliable,current, or error-free. Also, your access to the Platform may also beoccasionally suspended or restricted to allow for repairs, maintenance, or theintroduction of new facilities or at any time without prior notice. We willattempt to limit the frequency and duration of any such suspension or restriction.We also provide links to other sites over which we have no control. We are notresponsible for the availability of such external sites or resources, and we donot endorse and are not responsible or liable for any content, advertising,products or other material on or available from such sites or resources.

c) We cannot andwill not assure that other Associates are or will be complying with theforegoing rules or any other provisions of these Terms, and, as between you andus, you hereby assume all risk of harm or injury resulting from any such lackof compliance.

d) Youacknowledge that when you access a link that leaves the services, the site youwill enter into is not controlled by us and different terms of use and privacypolicy may apply. By assessing links to other sites, you acknowledge that weare not responsible for those sites. We reserve the right to disable links toand / or from third-party sites to the Services, although we are under noobligation to do so.

12) INTELLECTUAL PROPERTY

a) Company shallown all right, title and interest (including patent rights, copyrights, tradesecret rights, mask work rights, trademark rights and all other rights of anysort throughout the world) relating to any and all inventions (whether or notpatentable), works of authorship, mask works, designations, designs, know-how,the Platform, the content of the Platform, ideas and information, google textchats which are subject matter of services (collectively referred to as “IntellectualProperties”).

b) Notwithstanding anything contained in this Terms and Conditions, rights to theIntellectual Properties include all rights of paternity, integrity, disclosureand withdrawal and any other rights (“Intellectual Property Rights”).

c) The Associateshall not be entitled to any ownership or any other right on the IntellectualProperty of Company and shall undertake not to put Company’s IntellectualProperty to any use for any purpose whatsoever in breach of this Agreement inany manner. The Associate shall not use it, disclose or allow the use ofCompany’s Intellectual Property by any third party nor shall the Associate haveany claim or right whatsoever therein.

d) Any breach ofthis provision shall be considered as a material breach of this Agreement andthe Company shall be entitled to seek injunctive or other equitable relief, inaddition to other remedies available to it under law.

13) CONFIDENTIALITY

The Associate agrees to keep all technical andnon-technical information, which Company may have acquired before or after thedate of this Terms and Conditions in relation to the technology, customers,business, operations, financial conditions, assets or affairs of the otherParty resulting from negotiating this Terms and Conditions; or exercising itsrights or performing its obligations under this Terms and Conditions; or whichrelates to the contents of this Terms and Conditions (or any agreement orarrangement entered into pursuant to this Terms and Conditions), including butnot limited to business plans, business forecasts, research, technology andfinancial information, procurement requirements, purchasing requirements,manufacturing, customer lists, sales and merchandising efforts, marketingplans, experimental work, development, design details, specifications,engineering, copyrights, trade secrets, proprietary information, know-how,processes, equipment, algorithms, software programs, software source documents,and information in any way related to the current, future and proposedbusiness, products and Services of Company confidential or any otherinformation designated as confidential from time to time.

Notwithstanding anything in the foregoing tothe contrary, confidential information shall not include information which: (i)was known by the Associate prior to receiving the confidential information fromCompany; (b) becomes rightfully known to the Associate from a third-partysource not known (after diligent inquiry) by the Associate to be under anobligation to Company to maintain confidentiality; (c) is or becomes publiclyavailable through no fault of or failure to act by the Associate in breach ofthis Terms and Conditions; (d) is required to be disclosed in a judicial oradministrative proceeding, or is otherwise requested or required to bedisclosed by law or regulation.

14) RIGHTS AND OBLIGATIONS RELATING TOTHE USAGE OF THE PLATFORM

Associates shall be prohibited from carryingout any illegal acts in the Platform including but not limited to actsmentioned below:

· violating or attempting to violate theintegrity or security of the Platform;

· transmitting any information on orthrough the Platform that is disruptive or competitive to the provision of ourServices;

· intentionally submitting on thePlatform any incomplete, false or inaccurate information;

· making any unsolicited communicationsto other Associates;

· using any engine, software, tool,agent or other device or mechanism (such as spiders, robots, avatars orintelligent agents) to navigate or search the Platform;

· circumventing or disabling any digitalrights management, usage rules, or other security features of the Platform.

· Any unlawful activities in thePlatform which are prohibited by applicable laws.

The Company shall, upon obtaining knowledge byitself or been brought to actual knowledge by an affected person in writing orthrough email signed with electronic signature about any such information asmentioned above, be entitled to disable such information that is incontravention of this Clause. We shall also be entitled to preserve suchinformation and associated records for such period as prescribed underapplicable laws for production to governmental authorities for investigationpurposes. In case of non-compliance with any applicable laws, rules orregulations, or the Terms and Conditions by an Associate, we shall have theright to immediately terminate your access or usage rights to the Platform andServices and to remove non-compliant information from the Platform.

We may disclose or transferAssociate-generated information to our affiliates or governmental authoritiesin such manner as permitted or required by applicable law, and you herebyconsent to such transfer. In accordance with the applicable laws, we shalltransfer Information, to any other body corporate or a person in India, orlocated in any other country, that ensures the same level of data protectionthat is adhered to by us, only if such transfer is necessary for theperformance of the lawful contract between Company or any person on its behalfand the Associate or where the Associate has consented to data transfer.

15)SUSPENSION AND TERMINATION

a) These Termsand Conditions are effective unless and until terminated by either you orCompany. You may terminate these Terms and Conditions at any time by notifyingus that you no longer wish to use our Services, or when you cease using ourPlatform.

b) We have theright to temporarily suspend access to the whole or any part of the Servicesfor any reason whatsoever (including but not limited to technical/operationalreasons) and shall be under no liability to you in such an event. Further, wemay, but are not obliged to, give you notice of any interruption of access tothe Service.

c) We maytemporarily suspend access to the whole or any part of the Services forpre-scheduled maintenance. The Company will endeavor to communicate to you theintent to temporarily suspend access for pre-scheduled maintenance in advancevia phone number/email to the contact details provided by you upon creation ofyour Account. If you choose to access the Platform or avail Services duringsuch pre-scheduled maintenance, we cannot guarantee the availability of theServices and/or functionality of the Platform.

d) We may terminateyour usage of the Platform at any time for any reason, including breach of theTerms and Conditions. We have the right (but not the obligation) to refuse togrant access to Platform. Except for the rights and license granted in theseterms, we reserve all other rights and grant no other rights or licenses,implied or otherwise.

e) Oncetemporarily suspended, indefinitely suspended or terminated, the Associate maynot continue to use the Platform under the same account, a different account orre-register under a new account. On termination of an account due to thereasons mentioned herein, such Associate shall no longer have access to data,messages and other material kept on the Platform by such Associate. Allprovisions of the Terms and Conditions, which by their nature should survivetermination, shall survive termination, including, without limitation, warrantydisclaimers, indemnity and limitations of liability.

f) In theevent of any termination of this Terms and Conditions or the Statement of Workby either party, the parties shall promptly and forthwith settle any and allaccounts that are due and accrued to each other.

g) Upontermination of this Terms and Conditions, any rights or obligations of theAssociate existing at the time of expiration or termination, which, by theirnature, survive the expiration or termination of this Terms and Conditions andsuch other provision as specifically identified in this Terms and Conditions,shall survive.

16) ALERTS

a) The Companyprovides you with multiple automatic and/or customised alerts while providingServices.

b) Youunderstand and agree that any alerts provided to you through the Platform maybe delayed or prevented by a variety of factors. We will do our best to providealerts in a timely manner with accurate information. However, we neitherguarantee the delivery nor the accuracy of the content of any alert. You alsoagree that we shall not be liable for any delays, failure to deliver, ormisdirected delivery of any alert; for any errors in the content of an alert;or for any actions taken or not taken by you or any third party in reliance onan alert.

17) CONTACT YOU

a) You agreethat we may contact you through telephone, email, SMS, or any other means ofcommunication for the purpose of:

· RenderingServices

· Obtainingfeedback in relation to Platform or our Services;

· Obtainingfeedback in relation to any other Associates listed on the Platform;

· Anyevents or initiatives that you may be interested in as part of the community ofAssociates

· Resolvingany complaints, information, or queries by other Associates regarding yourcritical content.

b) You agree toprovide your fullest co-operation further to such communication by Company.

18) DISCLAIMERS

a) THE SERVICERENDERED ON COMPANY'S PLATFORM ARE PROVIDED "ASIS" AND “ASAVAILABLE”. COMPANY MAKES NO WARRANTIES, EXPRESSED OR IMPLIED, AND HEREBYDISCLAIMS AND NEGATES ALL OTHER WARRANTIES, INCLUDING WITHOUT LIMITATION, IMPLIEDWARRANTIES OR CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE,OR NON-INFRINGEMENT OF INTELLECTUAL PROPERTY OR OTHER VIOLATION OF RIGHTS.FURTHERMORE, COMPANY DOES NOT WARRANT OR MAKE ANY REPRESENTATIONS CONCERNINGTHE ACCURACY, LIKELY RESULTS, OR RELIABILITY OF THE USE OF THE MATERIALS ON ITSPLATFORM OR OTHERWISE RELATING TO SUCH MATERIALS OR ON ANY SITES LINKED TO THISSITE.

b) THE COMPANY,ITS DIRECTORS, EMPLOYEES, AGENTS, SUPPLIERS, SPONSORS AND PARTNERS DO NOTWARRANT THAT: (A) THE SERVICE WILL BE SECURE OR AVAILABLE AT ANY PARTICULARTIME OR LOCATION; (B) ANY DEFECTS OR ERRORS WILL BE CORRECTED; (C) ANY CONTENTOR SOFTWARE AVAILABLE AT ORTHROUGH THE SERVICE IS FREE OF VIRUSES OR OTHERHARMFUL COMPONENTS; (D) THE RESULTS OF USING THE SERVICE WILL MEET YOURREQUIREMENTS; (E) ANY INFORMATION PROVIDED BY US IN ANY WAY WILL MEET YOURREQUIREMENTS; OR (F) THE PLATFORM WILL BE FREE OF GLITCHES; ON YOUR USEOF THE SERVICE IS SOLELY AT YOUR OWN RISK.

c) COMPANY DOES NOTWARRANT THAT THE ASSOCIATE WILL BE ABLE TO USE THE PLATFORM/PLATFORM AT ALLTIMES OR LOCATIONS ON THE PLATFORM/PLATFORM OR THAT THE PLATFORM AND THESERVICES PROVIDED THROUGH THE PLATFORM/PLATFORM WILL BE UNINTERRUPTED ORERROR-FREE.

d) THE MATERIALSAS APPEARING ON THE PLATFORM MAY CONTAIN TYPOGRAPHICAL ERRORS, INACCURACIES OROMISSIONS. COMPANY RESERVES THE RIGHT, ALTHOUGH IT IS UNDER NO OBLIGATION TO DOSO, TO CORRECT ANY ERRORS, INACCURACIES OR OMISSIONS, AND TO CHANGE OR UPDATEINFORMATION OR MATERIAL AS APPEARING ON THE PLATFORM AT ANY TIME WITHOUT PRIORNOTICE.

e) WE DO NOT PROMISETO STORE OR KEEP SHOWING ANY INFORMATION AND CONTENT THAT YOU HAVE POSTED. THECOMPANY DOES NOT PROVIDE A STORAGE SERVICE. YOU AGREE THAT WE HAVE NO OBLIGATIONTO STORE, MAINTAIN OR PROVIDE YOU A COPY OF ANY CONTENT OR INFORMATION THAT YOUOR OTHERS PROVIDE, EXCEPT TO THE EXTENT REQUIRED BY APPLICABLE LAW AND AS NOTEDIN OUR PRIVACY POLICY.

h) OUR COMPANYSHALL NOT BE LIABLE IN ANY FORM OR MANNER WHATSOEVER, FOR ANY CLAIMS, DISPUTES,PROCEEDINGS WHICH MAY ARISE IN CONNECTION WITH THE ENGAGEMENT BETWEEN YOU ANDTHE CUSTOMERS.

19) INDEMNITY

You shall defend, indemnify, and hold harmlessthe Company, its affiliates/subsidiaries/joint venture partners and each ofits, and its affiliates’/subsidiaries/joint venture partners’ employees,contractors, directors, suppliers and representatives from all liabilities,losses, claims, and expenses, including reasonable attorneys’ fees, that arisefrom or relate to (i) your use or misuse of, or access to, the Services andPlatform; or (ii) your violation of the Terms and Conditions; or any applicablelaw, contract, policy, regulation or other obligation. We reserve the right toassume the exclusive defence and control of any matter otherwise subject toindemnification by you, in which event you will assist and cooperate with us inconnection therewith.

20) LIMITATION OF LIABILITY

TO THE FULLEST EXTENT PERMITTED UNDER LAW, INNO EVENT SHALL COMPANY BE LIABLE WHETHER IN TORT (INCLUDING FORNEGLIGENCE ORBREACH OF STATUTORY DUTY), CONTRACT, MISREPRESENTATION, RESTITUTION OROTHERWISE FOR (I) ANY SPECIAL, INCIDENTAL, INDIRECT ORCONSEQUENTIAL OROTHER SUCH LOSS OR DAMAGE, INCLUDING BUT NOT LIMITED TO THOSESUCH AS AND/ORRESULTING FROM LOSS OF PROFITS, LOSS OF BUSINESS, BUSINESSINTERRUPTION,COMPUTER FAILURE, LOSS OF BUSINESS INFORMATION, DEPLETION OFGOODWILL, LOSS ORCORRUPTION OF DATA OR INFORMATION, PURE ECONOMIC LOSS AND/ORSIMILAR LOSSES ORDAMAGES OF ANY KIND, HOWSOEVER ARISING IN CONNECTION WITH THESE TERMS,(II) FOR YOUR RELIANCE ON THE SERVICES (III) FOR ANYDIRECT DAMAGES THAT EXCEED Rs. 10,000/-(IV) FOR ANY MATTER BEYOND ITS OR THEIR REASONABLECONTROL, EVEN IF ASSOCIATES AS BEEN INFORMED IN ADVANCE OF THE POSSIBILITYOF SUCH DAMAGES. THE LIMITATIONS OF THIS SECTION WILL NOT APPLY TO ANYLIABILITY THAT CANNOT BE EXCLUDED OR LIMITED BY LAW.

THE COMPANY HAS NO OBLIGATIONS UNDER THISCLAUSE TO THE EXTENT THAT ACLAIM IS BASED UPON ANY OF THE FOLLOWING: (A) THESERVICES OR ANY PART THEREOF HAS BEEN MODIFIED, ALTERED OR CHANGED BYYOU, IN AN UNAUTHORIZED MANNER IF SUCH INFRINGEMENT WOULD HAVEBEEN AVOIDED IN THE ABSENCE OF SUCH MODIFICATION, ALTERATION OR CHANGE; (B)THE COMBINATION, OPERATION OR USE OFTHE SERVICES WITH HARDWARE OR SOFTWAREWHICH WAS NOT PROVIDED OR RECOMMENDED OR AUTHORIZED BY THECOMPANY, IF SUCHINFRINGEMENT WOULD HAVE BEEN AVOIDED IN THE ABSENCE OF SUCH COMBINATION, OPERATION OR USE, (C) YOUR FAILURETO INSTALL OR HAVEINSTALLED AN UPDATE OR UPGRADE CONTAINING DESIGNS TO AVOIDTHIRD PARTYINFRINGEMENT CLAIMS; OR (E)ANY USE OF ANY PART OF THE SERVICES NOTINACCORDANCE WITH THIS AGREEMENT.

Our licensors and service providers will haveno liability of any kind under these Terms and Conditions. Unless suchrestriction is prohibited by applicable law, you may not bring any claim underthese Terms and Conditions more than twelve (12) months after the cause ofaction arises.

21) EXEMPTIONS TO LIMITATION OF LIABILITY

You further agree and confirm that Companyshall not be responsible, in any manner whatsoever, for anydelay/unavailability of Services or failure to meet its obligations under theTerms and Conditions, which may be caused, directly or indirectly, due to:

I. your failureto cooperate;

II. yourunavailability and/or unresponsiveness;

III. your failure toprovide accurate and complete information;

IV. your failure toprovide or facilitate the submission of information in timely manner;

V. any event beyondCompany’s reasonable control.

22) UPDATES

We reserve the right, at Our solediscretion, to change, modify, add or remove portions of these Terms ofServices, at any time without any prior written notice to you. We suggestthat you regularly check these Terms of Services to apprise yourself of anyupdates. We shall, but are not obligated to, inform you via email of anyupdates that is made to these Terms of Service. Your continued use of thePlatform following the posting of changes will mean that you acceptand agree to the revisions. As long as you comply with these Terms ofServices, we grant you a personal, non-exclusive, non-transferable,limited privilege to enter and use the Platform.

23) SEVERABILITY AND WAIVER

If any of these terms should be determined tobe illegal, invalid or otherwise unenforceable by reason of the laws of anystate in which these terms are intended to be effective, then to the extent andwithin the jurisdiction which that term is illegal, invalid or unenforceable,it shall be severed and deleted and the remaining Terms of Services shallsurvive, remain in full force and effect and continue to be binding andenforceable. The failure of either party to exercise in any respect any rightprovided for herein shall not be deemed a waiver of any further rightshereunder.

24) FORCE MAJEURE

If the performance of the Party’s obligationshereunder is prevented, restricted or interfered with by reason of fire, or byepidemic or pandemic, or other casualty or accident; strike or labour disputes;war or other violence; or any act or condition beyond the reasonable control ofthe Parties, or an act of God (each a “Force Majeure Event”), then theParties shall be excused from such performance to the extent of such prevention,restriction or interference; provided, however, that the Parties shall giveprompt notice within a period of three (3) days from the date of occurrence ofthe Force Majeure Event and providing a description to the other Party of suchForce Majeure Event in such notice, including a description, in reasonablespecificity, of the cause of the Force Majeure Event and the likely duration ofthe impact or delay cause by the Force Majeure Event; and provided further thatthe Parties shall use reasonable efforts to avoid or remove such cause ofnon-performance and shall continue performance hereunder whenever such causesare removed.

If the Party’s performance of its obligationsunder this Terms and Conditions is suspended due to the occurrence of a ForceMajeure Event for a period in excess of thirty (30) business days, the Partiesmay defer the performance of Services till such period and in such manner asmutually agreed between the Parties.

25)RELATIONSHIP BETWEEN THE ASSOCIATE ANDCOMPANY

Nothing in this Terms and Conditions shall beconstrued to create any relationship between Company and you other than that ofa service provider and Associate. You do not have the authority to bind Companyin any manner whatsoever.

26) NON-ASSIGNMENT

These Terms and Conditions are personal to youand you shall not assign or transfer or purport to assign or transfer thecontract between you and us to any other person.

27) GOVERNING LAW, JURISDICTION ANDDISPUTE RESOLUTION

These Terms and Conditions are governed by thelaws of India. Any action, suit, or other legal proceeding, which is commencedto resolve any matter arising under or relating to this website, shall besubject to the jurisdiction of the courts at Bangalore, India.

PROHIBITION OF CLASS AND REPRESENTATIVEACTIONS ANDNON-INDIVIDUALIZED RELIEF: YOU AND THECOMPANY AGREE THAT EACH OF US MAY BRING CLAIMS AGAINST THE OTHER ONLY ON ANINDIVIDUAL BASIS AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASSOR REPRESENTATIVE ACTION OR PROCEEDING. UNLESS BOTH YOU AND THE COMPANY AGREEOTHERWISE, THE ARBITRATOR MAY NOT CONSOLIDATE OR JOIN MORE THAN ONE PERSON'S ORPARTY'S CLAIMS AND MAY NOT OTHERWISE PRESIDE OVER ANY FORM OF A CONSOLIDATED,REPRESENTATIVE, OR CLASS PROCEEDING. ALSO, THE ARBITRATOR MAY AWARD RELIEF(INCLUDING MONETARY,INJUNCTIVE, AND DECLARATORY RELIEF) ONLY IN FAVOR OF THEINDIVIDUAL PARTY SEEKING RELIEF AND ONLY TO THE EXTENT NECESSARY TO PROVIDERELIEF NECESSITATED BY THAT PARTY'S INDIVIDUAL CLAIM(S).

28) ENTIRE AGREEMENT

The Terms and Conditions are the entireagreement and understanding between you and Company with respect to theServices and usage of Platform.

29) GRIEVANCE REDRESSAL OFFICER

In furtherance of applicable laws includingbut not limited to the Information Technology Act, 2000 (“IT Act”) and theInformation Technology (Intermediary Guidelines and Digital Media Ethics Code)Rules, 2021 (“Intermediary Guidelines”) a grievance officer is appointed toensure compliance with the IT Act and the Intermediary guidelines.

Any discrepancies or grievances with regard tocontent and or comment or breach of the Terms of Service shall be taken up withthe designated grievance officer as mentioned below in writing or through emailsigned with the electronic signature to:

Any discrepancies or grievances with regard tocontent and or comment or breach of the Terms and Conditions shall be taken upwith the designated Grievance Officer as mentioned below via in writing orthrough email signed with the electronic signature to:

Name: Sambit Rath

Email: sambit@insurfin.in

The grievance officer shall revert to everycomplaint within 24 hours of receipt of the complaint. Further, the Company shalltake best possible efforts to redress the complaint within 15 days of receiptof the complaint. Any suggestions by Company regarding use of the Servicesshall not be construed as a warranty.

30) SUPPORT

The Company offers an email, calling andin-app-based support system. In case you require any assistance or support, youmay access support resources or contact our supportemail at contact@insurfin.in. The Company provides Support on Monday– Friday between the hours of 10a.m. – 6:00 p.m. IST (except public holidays).

The Associate agrees and acknowledges that theCompany shall address and attempt to resolve the complaint received inaccordance with the standard policies and procedures adopted by the Company,the Associate’s disapproval/discontent with the outcome/mode of redressal shallnot be deemed to mean non-redressal of the complaint by the Company. Anysuggestions by Company regarding use of the Service shall not be construed as awarranty.

In furtherance of the applicable lawsincluding but not limited to Consumer Protection Act 2019 (“ConsumerProtectionAct”) and the Consumer Protection (E- Commerce) Rules 2020 (“E-CommerceRules”)a nodal officer is appointed to ensure compliance with the ConsumerProtectionAct and the E-Commerce Rules.

The details of the grievance officer to whichconsumer grievances can be redressed are as follows;

Name: Sambit Rath

Email. sambit@insurfin.in

The Company shall revert to every complaintwithin “ hours of receipt of the complaint. Further, the Company shall takebest possible efforts to redress the complaint within 30 days of receipt of thecomplaint. Any suggestions by Company regarding use of the Services shall notbe construed as a warranty.

31) CONTACT

If you have any questions regarding theServices or usage of the Platform, please contact Company at contact@insurfin.in. Please note that for the purpose of validation, you shall be requiredto provide information (including, but not limited to contact number orregistered mobile number, etc.) for the purpose of validation and taking yourservice request.

LAMF (Loan Against Mutual Funds)

Insurfinhaspartnered with Smallcase through which “Loan against Mutual Funds (LAMF)” facility is being provided to its customers

TheTerms of Service and FAQs for the same is provided below:

1. What is Loan Against Mutual Funds?

“Loan Against Mutual Funds” is a type of loanwhere you can borrow money from a financial institution or lender by using yourmutual funds investment as collateral.

2. What is the purpose of a Loan against Securities?

The purpose of a loan against securities is to provide you withaccess to cash without having to sell your securities. This can be helpful ifyou need money for a short-term financial emergency.

3. How to get loan against mutual funds?

Now you can avail the benefits of operating for loan against MFsonline by following these 4 easy steps.

Import & select the mutual funds you want to use as collateral
Add a bank account to receive funds and auto-debit interest payments
Pledge your holdings with the lender
Sign the loan agreement online

At Smallcase, money will be disbursed to your bank account injust 2 working hours after approval.

4. How much loan can I get?

You can avail a loan against mutual funds investment from₹25,000 to ₹5,00,00,000.

5. What is the tenure of the loan against mutual funds?

The default loan tenure for loan against mutual funds is 36months. However, if you wish to close your loan earlier, you can do that at anytime without any foreclosure charges with Smallcase.

6. What will be the loan against mutual funds interest rate?

The interest rate is applicable as per the lending interest rateon a case to case basis. The interest .applies only to the outstandingprincipal. No interest is charged on the amount you’ve already repaid.

7. Where can I find the approved list of mutual funds?

Over 7,000+ approved mutual fund schemes across equity, debt, and hybrid categories.
View the full list here.

8. What are the features of loan against mutual funds(LAMF)?

There are multiple features if you opt for a loan on mutualfunds online with Smallcase. You can also click here toknow more about its features.

9. What are the benefits of taking a loan against mutual fundsfrom Smallcase?

Get LAMF Limit Online Within Minutes
Access to 7000+ mutual fund schemes
Zero Foreclosure Charges
Attractive Interest Rate
Retain Ownership of Investments
Instant Disbursal

10. Is it a good idea to take a loan against mutual funds?

Yes, a loan against mutual funds (LAMF) is a better debt optionwhen compared to personal loans and credit cards. By availing credit cardagainst mutual fund, you get to choose your desired debt amount as it offers agreat repayment facility, unlike the above-mentioned traditional loans.

Eligibility

1. What are the minimum and maximum required age for availing aloan against a mutual fund?

To avail loan against mutual funds, an individual should bebetween 18 years to 70 years of age.

2. What are the eligibility criteria for opting for a loanagainst mutual funds?

Self-employed/ Salaried Residents (for equity and debt funding)
Age – 18 Years to 70 years of age
To be a citizen of India
Limit of the loan – 25K to 5 Cr

3. Which mutual funds are accepted for availing a loan againstmutual funds?

You can obtain a loan against equity or hybrid mutual funds byapproaching any non-banking financial institution (NBFI) or bank. However, ifyou opt for LAMF at Smallcase we offer over 5000+ approved schemes inequity, debt & hybrid categories. You may access the list here.

4. Funds pertaining to which AMCs can be pledged to avail a loanagainst mutual funds?

Yes, loans can be availed against mutual funds from all AMCs registered with CAMS and KFin
Check the approved schemes for each AMC here.

5. Can I avail loan against mutual funds held in demat form?

We now allow loans against mutual funds held in both demat andnon-demat form. Moreover, your mutual funds need to belong to the listof eligible mutual funds prescribed by the lender.

6. Can I change/swamp shares during my loan tenure?

Some financial institutions allow you to change/swamp sharesduring the loan tenure. However, at Smallcase, the pledged loans cannot betampered with.

Documents

1. What are the documents required while applying for a loan onmutual funds?

The documentation slightly differs from bank to bank. However,for most banks, these four documents are important. These include proof ofidentity, proof of address, proof of employment, and documentation confirmingthe ownership of the mutual fund investments.

For getting a LAMF on Smallcase, you do not need anydetailed list of documents* if youwant to opt for a loan against mutual funds(LAMF). So experience thehassle-free process with zero formalities!

_{*Some users may be asked to produce their Aadhar number in caseof any discrepancies}

Payments& Fee

1. What should I do if a payment is not reflected on the loandashboard?

If the payment is not reflected on the statement within 6working hours, then please reach out to our support team and share a screenshotof the transaction for further assistance.

2. What is the frequency of interest payments?

Interest on a loan against mutual funds facility is payablemonthly.

3. What is the interest payment cycle for a loan against mutualfunds?

The interest cycle calculates from the 7th day of each calendarmonth to the 6th day of the succeeding month. The loan generates interest dueon the 7th of every month.

4. Is my interest applicable to the entire loan limit?

No. The interest is charged only on the loan amount that youhave drawn down or the outstanding loan amount.

5. What will happen if an interest repayment is not made?

Failing to make an interest payment will result in a bouncecharge (incase of Smallcase it is ₹1200). Furthermore, a penal interest permonth to the outstanding interest amount is applied, starting from the datewhen the auto-debit failed until the overdue interest amount is paid in full.

6. Do I need to repay the loan with EMI on a monthly basis?

There is no EMI associated with loan against mutual funds(LAMF). You have the flexibility to repay the remaining principal, whether infull or in part, whenever you desire. Your linked bank account willautomatically deduct only the interest on the remaining loan balance eachmonth.

7. What are the various charges & fees?

If you opt for a loan against mutual funds online with Smallcase,these are the following list of charges and fees. Please note, the loan againstmutual funds interest rate is related to Smallcase only. It may differ fromother financial institutions.

Interest rate

As per the lending terms and conditions on a case to case basis

Processing Fee

As per the lending terms and conditions on a case to case basis

Late Payment Interest

Penal Interest is charged @ 2% per month

Demat pledge charges

Lender charges Rs. 50 + GST per demat security and Zerodha charges Rs. 32 + GST per demat security

Bounce charges (for failed interest payment)

₹1200 per bounce

Part-prepayment charges

NIL

Foreclosure charges

NIL

Mandate inactive charges

NIL

Mandate verification (charged by your bank)

As charged by your bank (typically between ₹0 to ₹150)

Lien removal charges ( (if requested after taking loan)

NIL

Lien removal charges (if loan is canceled before disbursement)

Actual processing fee applicable

Collection/legal Charges (in case of default)

At actuals

Demat lien invocation charges (in case of liquidity)

0.02% + Flat Rs. 5 + GST per demat security (Min Rs. 55 and Max Rs. 1005)

Demat share transfer charges (PAYIN)

0.02% + Flat Rs. 5 + GST per demat security (Min Rs. 55 and Max Rs. 1005)

Stamp duty

0.015% on Demat lien invocation value

8. Are there any foreclosure charges to close a loan before thetenure ends?

The foreclosure charges vary from 2% to 3%. However, at Smallcase,there are no foreclosure charges for closing a loan before the end of tenure.

Shortfall

1. What is LTV(loan-to-value)?

Loan-to-value (LTV) ratio is a financial term used by lenders toexpress the ratio of a loan to the value of an asset purchased.

2. What is the loan-to-value offered against the mutual fundloans?

At Smallcase, you can avail a loan of 45% of the Loan-to-Value(LTV) against your equity mutual funds and 75% LTV against your debt mutualfunds. To illustrate, if your equity mutual fund portfolio has a current valueof ₹1L, you can secure a loan of ₹45,000.

2. What happens when the price of my mutual funds falls?

This value is 45% for equity MFs and 75% for debt MFs and iscalled the “Loan to Value” ratio. LTV is subject to changes on account ofRegulatory Changes. If the value of the funds you promised decreases, causingyour loan amount to exceed these percentages, you must repay a specific amountso that your loan-to-value ratio returns to the acceptable range. Failure tomake this repayment will result in the lender recovering this amount byliquidating your pledged MFs.

4. What should I do in case of a shortfall?

In the event of a shortfall, principal repayment has to be donewith a minimum amount equivalent to the shortfall amount. With that, theshortfall will be fulfilled and the LTV ratio will be maintained.

5. What if I am unable to fulfill the shortfall within 7business days?

In case you fail to fulfill the shortfall within 7 businessdays, Smallcase holds the right to sell the lien-marked mutual funds to makegood the shortfall.

6. How can I make a good shortfall?

You can simply repay the shortfall or pledge more shares to makea good shortfall.

Closure

1. How can I close the loan?

If you’re investing in a loan against mutual funds (LAMF) with Smallcase,you have the freedom to close your loan whenever you want, and there are noextra fees or penalties. To request loan closure, you can go to the helpsection of your loan dashboard or contact the support team. Once you do this,your pledged mutual funds will be returned to you, and your loan account willbe closed promptly.

2. When can I unpledge/release my pledged mutual funds?

If you have enough funds and are not short on money, you canwithdraw mutual funds. After checking everything, your request will beprocessed comparatively in less time on Smallcase.

3. How to unpledge/release the pledged mutual funds?

Once the loan is completely paid off, all funds previously heldas collateral will be set free and made available. This means that once alloutstanding payments are settled, the loan can be officially closed at anytime.

4. Is it possible to make a part prepayment/ foreclosure beforethe end of the loan tenure?

Yes, it is possible. You may make a part-prepayment or foreclosethe entire loan before the end of the tenure. There are no foreclosure chargesat Smallcase.

Withdrawal

1. Can I withdraw more amount by pledging extra mutual funds?

Currently, we do not facilitate additional pledging of mutualfunds to extend the limit. We will let you know whenever this gets introduced.

2. Why is my withdrawable limit less than the repaid principalamount?

The total amount available for withdrawal is calculated bytaking a certain percentage of your pledged holdings. This could vary due tofluctuations in the valuation of your pledged holdings. As a result, it ispossible that the total amount you can withdraw on some days is less than youroverall sanction limit, which would happen if the value of your holdings hasdropped.

3. How long will it take for funds to be credited to my bankaccount?

The processing time for funds to be credited to your bankaccount during LAMF (Loan Against Mutual Funds) depends on the bank or NBFC youhave applied to. Generally, it takes around 1-3 business days for the funds tobe credited to your account. However, at Smallcase, the funds get credited toyour bank account within 2 hours of the request, if not you can connect with uson help@Smallcase.com.

LOS(Step-Wise)

Holdings import (calculate credit limit)

1. Why do I need to fetch my holdings from CAMS & KFin?

The value of your mutual fund holdings fetched using CAMS andKFin is used to calculate the amount of loan you’re eligible for. Typically,equity and hybrid schemes can provide a loan of up to 50% of their value whiledebt schemes can provide up to 80% of their value.

2. Which email address and phone number should I use to fetchholdings?

To get investments in mutual fund schemes managed by CAMS, usethe phone number linked to your account. For schemes managed by KFin, providethe email address associated with your account.

You can check the email & phone numbers associated with yourmutual fund investments in your Consolidated Account Statement here.

3. What is the credit limit and how is it calculated?

The credit limit represents the maximum loan you can get usingyour eligible mutual funds. To determine how much you can borrow against amutual fund, a percentage is applied to the value of the mutual funds you wantto use as collateral. This percentage is 45% for equity mutual funds and 75%for debt mutual funds.

4. Which mutual funds can be pledged to take the loan?

To unlock the power of loan on mutual funds, you must hold themin good old-fashioned paper form, known as SoA, with CAMS and KFin. But that’snot all! Your mutual funds need to be part of the lender’s approved list of funds.

OfferConfirmation (Confirm Limit)

1. Why is my calculated credit limit less than the mutual fundinvestments?

The total amount that you can borrow against your mutual fundsis calculated by taking a haircut percentage of the value of the mutual fundsyou wish to pledge. This percentage is 45% for equity MFs and 75% fordebt MFs.

Therefore, your overall credit limit is calculated by takingthese percentages against each of your mutual funds after applying definedhaircuts.

2. Some of the funds are missing. Why?

Some mutual funds may be missing because of these possiblereasons:

Fund is under lock-in period (Eg. ELSS funds have 3 year lockin period)
Fund is already pledged
Holdings were not fetched from both RTAs (CAMS & KFin), or not all registered phone numbers and email addresses were verified. Try “increase” option to verify additional contacts (phone & email)

3. Funds units are less than actual investment. Why?

This situation occurs when mutual fund units are restricted frombeing sold for a specific time. For instance, tax-saving funds have a lock-inperiod of 3 years. During this time, the locked-in units cannot be used ascollateral.

LinkBank Account

1. My bank is not showing up on the bank list

Please make sure you have the correct and complete name of thebank. If the problem continues, please reach out to our support team for assistance.

2. Why is the requirement for e-mandate?

To avoid late payment penalties, you need an e-mandate forautomatically collecting monthly interest. The lender will only deduct theminimum amount of interest owed.

3. I am getting an invalid IFSC error. What should I do?

Confirm that you are entering correct IFSC code. Therefore, ifthat still does not work, please contact the bank’s customer support.

4. A white popup keeps loading while setting up e-mandate?

Third-party cookies are required for setting up e-mandate.Kindly enable third-party cookies from your browser settings, and retry theflow. Once the mandate setup flow is complete, you may disable it back.

PledgeMutual Funds

1. Whose shares can I pledge?

You have the option to provide shares as collateral, either fromyour own holdings or from eligible family members (parents, spouse, children,and siblings who are over 18 years old and share the same blood relation asyou).

2. What are the tax implications due to pledging?

There will be no changes with respect to tax consideration forthe shares provided as collateral for securing the loan. There would be achange of duration for calculating capital gains only if the shares areunpledged and sold by the client, or if the shares are confiscated by thelender.

AgreementSigning

1. The screen is stuck at “Generating your Agreement” screen.Help!

If the screen is stuck for longer than a couple of minutes,please share your details with the ledger/bank customer support.

2. How do I sign the agreement?

On the lender’s agreement screen, scroll to the bottom of thepage and verify the OTP.

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