LAP Terms & Conditions

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I/We declare that I/we am/are resident Indians/NRI and that all particulars and information given in the application form are true, correct and complete and that they shall form the basis of any loan that Paul Merchants Finance Private Limited may decide to grant to me/ us. I/We undertake to inform Paul Merchants Finance Private Limited regarding any change in my/our above-mentioned details and to provide any further information that they may require, I/We further agree that my/our loan should be governed by the rules of Paul Merchants Finance Private Limited which may be in force from time to time. Paul Merchants Finance Private Limited reserves the right to reject the loan application. Sanction and disbursement are subject to satisfactory KYC/AML verification and the Company reserves the right to report any suspicious transactions to FIU-IND as per law. I/We acknowledge and give consent that Paul Merchants Finance Private Limited may obtain/disclose/ share any/all information pertaining to me/us from/with any banks/financial institutions/credit bureaus/third parties for any purpose whatsoever. Further, in case of any guarantee or security of third party is intended to be provided to Paul Merchants Finance Private Limited as security for the loan to be sanctioned to me, I/We acknowledge and give consent that Paul Merchants Finance Private Limited may disclose to such third-party information pertaining to me/us and/or of the details of the loan granted to me/us. I/We agree that Paul Merchants Finance Private Limited and/or Affiliates or their contractors may hold and process my/our personal information and all other information concerning my/our Account(s) on computer or otherwise for analysis, credit scoring and marketing. I/We further agree that Paul Merchants Finance Private Limited may disclose, in strict confidence, to other institutions, personal information concerning me/us as may be reasonably necessary for reasons inclusive of but not limited to participation in any telecommunication or electronic clearing network, for compliance with a legal directive or for fraud prevention purposes. For any information so obtained / disclosed / shared, I/We agree and confirm that I/we will not hold Paul Merchants Finance Private Limited responsible for the use of such information. I/We agree that I/We shall not utilize the money(ies) received under the loan agreement(s) for any purpose which are prohibited under any law for the time being in force including but not limited to investment(s) in capital market(s) and speculative purposes. I/we understand that this application form along with the supporting documents/photographs submitted by me/us shall remain the property of Paul Merchants Finance Private Limited and the same shall not be returned to me/us.

I understand that the Processing Fee, Login Admin Fee, Stamp Duty and other applicable charges are non- refundable under any circumstances including but not limited to loan rejection/withdrawal of the application/loan cancellations or non-disbursement of loan unless specifically exempted / waived by Paul Merchants Finance Private Limited under its discretion.

I/We agree and confirm 1) No cash/blank cheque has been given by me along with this application, nor have I been promised any free gifts/ inducements to apply for this facility. 2) Paul Merchants Finance Private Limited shall not process incomplete application form, for which if any loss or delay is caused to me/us, I/We will not hold Paul Merchants Finance Private Limited liable for such Loss/Delay 3) That submission of Loan Application to Paul Merchants Finance Private Limited does not imply automatic approval by Paul Merchants Finance Private Limited. 4) Paul Merchants Finance Private Limited in its sole and absolute discretion may either sanction or reject the Loan Application and also reserve its rights to retain the loan application form, information and documents. 5) That I/We have not defaulted on any loan and no litigation is pending against me/us, except as disclosed. 6) That Paul Merchants Finance Private Limited is only a finance provider and subsequent to vehicle /Asset/Property finance disbursement to the dealer/Builder, Paul Merchants Finance Private Limited has no liability towards condition/color/make performance/ quality of vehicle/ Asset/Property at the time of delivery/ Possession/ delay in delivery of Vehicle/accessories/Property from the Dealer/Builder/Manufacturer or availability of specific color/mode/quality version at the dealership. 7) That any discount in pricing of the asset is purely an offer by the manufacturer/dealer 8) Paul Merchants Finance Private Limited may deduct applicable fees from the disbursement proceeds for creation of charge in its favor or any such expense for ensuring perfection of security. 9) To inform Paul Merchants Finance Private Limited regarding any change in my/our above-mentioned details (including KYC details) and to provide any further information that they may require within 30 days. 10) The Account Holder hereby agrees that the Paul Merchants Finance Private Limited may offer or upgrade the account to a higher program with enhanced benefits, depending on eligibility and relationship value, as determined by Paul Merchants Finance Private Limited.

Customer Grievance::

The Borrower with any grievance, complaint, or feedback regarding the products and services offered by the Lender or its outsourced agencies may contact the Lender’s Customer Service/Care Department through any of the following channels.

Level-1: Customer Care: Borrower may first raise any query or complaint by contacting our Customer Care team at Toll-Free Number “1600116130” or Email “info@paulmerchants.net”. A written acknowledgment will be sent within 48 hours and resolution attempted within 7 working days.

Level-2: Grievance Redressal Officer (GRO): If the Borrower is not satisfied with the response, they may escalate to the Grievance Redressal Officer, Paul Merchants Finance Private Limited, at Email “eisha.srivastav@paulfincap.com” Address “First Floor, SCO 827-828, Sector-22A, Chandigarh, India-160022”. The GRO will endeavour to resolve the matter within 15 working days.

Level-3: Principal Nodal Officer & RBI Ombudsman: If the Borrower remains unsatisfied or no reply is received within 30 days, they may write to the Principal Nodal Officer, Email “shaibu.cherian@paulmerchants.net”. Borrowers can further escalate under the Reserve Bank-Integrated Ombudsman Scheme, 2021 through https://cms.rbi.org.in or the RBI Ombudsman for the relevant jurisdiction.

The Borrower may also refer to the Grievance Redressal Mechanism policy, which is updated on the company website: www.paulmerchantsfin.com.

Borrower’s Declaration of Understanding & Consent:

I/We confirm that the key terms and conditions of the proposed loan including the applicable interest rate, fees and charges, repayment schedule, security requirements, my/our obligations in case of default, and the right of Paul Merchants Finance Private Limited (“the Company”) to share credit and personal information have been clearly explained to me/us and that I/we have fully understood the same.

The contents of this application form and the Most Important Terms & Conditions (MITC) have been read out and/or explained to me/us in my/our preferred language, namely _______________ and I/we have been provided the opportunity to seek clarifications before signing/submitting this form.

I/We give free, informed and unconditional consent to (a) execute this application physically or through digital/electronic means (including email, SMS, WhatsApp, e-sign, or any other legally valid mode under the Information Technology Act, 2000), (b) receive all future communications, statements, and notices through such electronic means, and (c) allow the Company to verify, share or report my/our credit and KYC information to credit bureaus and regulatory authorities in compliance with RBI regulations, the Company’s Fair Practices Code, and applicable law.

I/We declare that I/we have read, understood, and agree to abide by all the terms of the loan application and any sanction/loan agreement that may follow. The Applicable Rate of Interest and Charges would be as detailed in the Sanction Letter / Loan Agreement, should the facility/loan be sanctioned by Paul Merchants Finance Private Limited. List of Documents to be provided at the time of Loan Application will be given by Paul Merchants Finance Private Limited.

Declaration: In case this Application form is digitally filled and signed, it has to be submitted from your (Main Applicant) Official Email ID and it would be deemed consent to process the application further & no physical signature would be required to be obtained on this application form.

Most Important Terms and Conditions & Declaration by the Customer

I/We declare that I/We am/ are resident Indians/NRI and that all the particulars and information given in the application form are true, correct and complete and that they shall form the basis of any loan, Paul Merchants Finance Private Limited may decide to grant to me/us. I/We undertake to inform Paul Merchants Finance Private Limited regarding any change in my/our above-mentioned details and to provide any further information that they may require.

I/We further agree that my / our loan should be governed by the rules of Paul Merchants Finance Private Limited which may be in force from time to time. Paul Merchants Finance Private Limited reserves the right to reject the loan application. Sanction and disbursement are subject to satisfactory KYC/AML verification and the Company reserves the right to report any suspicious transactions to FIU-IND as per law. I/We acknowledge and give consent that Paul Merchants Finance Private Limited may obtain/disclose/share any/all information pertaining to me / us from / with any banks /financial institutions/credit bureaus /third parties for any purpose whatsoever. Further, in case of any guarantee or security of third party is intended to be provided to Paul Merchants Finance Private Limited as security for the loan to be sanctioned to me, I/ We acknowledge and give consent that Paul Merchants Finance Private Limited may disclose to such third-party information pertaining to me/ us and/ or of the details of the loan granted to me/us. I/We agree that Paul Merchants Finance Private Limited and/or Affiliates or their contractors may hold and process my/our personal information and all other information concerning my/our Account(s) on computer or otherwise for analysis, credit scoring and marketing. I/We further agree that Paul Merchants Finance Private Limited may disclose, in strict confidence, to other institutions, personal Information concerning me / us as may be reasonably necessary for reasons inclusive of but not limited to participation in any telecommunication or electronic clearing network, for compliance with a legal directive or for fraud prevention purposes. For any information so obtained / disclosed / shared, I/We agree and confirm that I/We will not hold Paul Merchants Finance Private Limited responsible for the use of such information. I/We agree that I/We will not utilize the monies received under the loan agreement(s) for any purpose which are prohibited under any law for the time being in force including but not limited to investment(s) in capital market(s) and speculative purposes. This application form along with the supporting documents shall be the property of Paul Merchants Finance Private Limited and the same shall not be returned to me/us. I understand that the Processing Fee, Login Admin Fee, Stamp Duty and other applicable charges are non- refundable under any circumstances including but not limited to loan rejection/withdrawal of the application/loan cancellations or non-disbursement of loan unless specifically exempted / waived by Paul Merchants Finance Private Limited under its discretion. I/We agree and confirm 1) no cash/blank cheque has been given by me along with this application, nor have I been promised any free gifts/inducements to apply for this facility. 2)Paul Merchants Finance Private Limited shall not process incomplete application form, for which if any loss or delay is caused to me/us, I/We will not hold Paul Merchants Finance Private Limited liable for such Loss/Delay. 3) That submission of Loan Application to Paul Merchants Finance Private Limited does not imply automatic approval by Paul Merchants Finance Private Limited 4) Paul Merchants Finance Private Limited in its sole and absolute discretion may either sanction or reject the Loan application and also reserve its rights to retain the loan application form, information and documents. 5) That I/We have not defaulted on any loan and no litigation is pending against me/us except as disclosed. 6) That Paul Merchants Finance Private Limited is only a finance provider and subsequent to vehicle /Asset/Property finance disbursement to the dealer/Builder, Paul Merchants Finance Private Limited has no liability towards condition/color/make/ performance quality of vehicle/ Asset/Property at the time of delivery/Possession/delay in delivery of Vehicle/accessories/Property from the Dealer/Builder/Manufacturer or availability of specific color/mode/ quality/ version at the dealership. 7) That any discount in pricing of the asset is purely an offer by the manufacturer/dealer. 8) Paul Merchants Finance Private Limited may deduct applicable fees from the disbursement proceeds for creation of charge in its favor or any such expense for ensuring perfection of security. 9) To inform Paul Merchants Finance Private Limited regarding any change in my/our above-mentioned details (including KYC details) and to provide any further information that they may require within 30 days. 10) The Account Holder hereby agrees that Paul Merchants Finance Private Limited may offer or upgrade the account to a higher program with enhanced benefits, depending on eligibility and relationship value, as determined by Paul Merchants Finance Private Limited.

I/We authorize Paul Merchants Finance Private Limited to send all communication on digital platforms like Email, SMS, WhatsApp etc.

For Complete Product wise Schedule of Charges, please refer our website on URL: www.paulmerchantsfin.com