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Terms & Conditions

Loan Application - Terms & Conditions

Last updated: 01, December, 2022

This portal and its corresponding mobile application and digital lending platform, “True Balance – App” (collectively, the “Platform”) is operated  by Balancehero India Private Limited, a private limited company incorporated under the laws of India (“Company”, “we”, “us” or “our”). 


These are the terms and conditions of use or access of the Platform (“T&Cs”). They tell you about the rules for using the Platform, using any current or future Services (defined below) made available on the Platform and what you (and we) can and can’t do.


These T&Cs basically tell you about all important rules to stick to and is a legally binding contract between you and us. So, do read these T&Cs carefully before accessing the Platform or using our Services. Please do check in regularly for updates as the latest version always applies. 

When you use our Services and the Platform, you’re agreeing to these T&Cs and any other terms we’ve let you know about, for any specific Service (“Service Terms”), on your behalf. Service Terms have to be read in conjunction with these T&Cs. If there are any inconsistencies between these two, the Service Terms will prevail to the extent of such inconsistency. Please also read these T&Cs together with the privacy policy of Company, privacy policy of True Credits, or Lending Partner, as the case may be, since those terms tell you about the information is  collected from you, how it is used, and with whom it is shared. If you do not agree with any of these terms, you are free to opt out of using this Platform. 

1. Definitions  


We mean the following whenever we use these capitalized terms in the T&Cs:


You”, “your”, or “User” means a person who registers on the Platform for Services;


Lending Partner” means banks, non-banking financial companies and other financial institutions regulated by the Reserve Bank of India, with whom there is an arrangement with True Credits to facilitate Services through the Platform;


Loan” means various lending products offered by True Credits or its Lending Partner through Platform to the Customer on the terms and conditions agreed with the Customer.  


True Credits” means True Credits Private Limited, which is a duly registered NBFC with Reserve Bank of India (“RBI”);

Services” means the access to the Platform for availing Loans or any other credit financial products or services in relation to Loans, subject to Service Terms. For avoidance of doubt it is clarified that the Services shall not include any services offered by Company in relation to providing pre-paid instruments (PPI) or any other services which are not related to Loan.

2. Services 


a) The Platform is an mobile application and digital lending platform that apart from other things  enables you to avail Loan from True Credits or its Lending Partners.  

b) You understand that the Company does not directly provide any lending or borrowing services to you from their own balance sheet. You also understand that the Company does not make any representations or warranties on behalf of the Lending Partners or True Credits with respect to the Loan and the respective offers availed by you via using the Platform. All the services and Loans provided by the Lending Partners and True Credits shall be governed by their respective sanction letter, terms and conditions, policies, and/or other loan documents  as and when executed. 

c) Company will try to make access to and use of the Platform error-free and without interruptions.  However, your access to the Platform may be occasionally suspended or restricted to allow for repairs, maintenance, or for introduction of new facilities or services. 

d) You understand that the Platform’s operation on your electronic device is subject to availability of software specifications, internet connection, and other features, required from time to time. The Company does not take responsibility for any access or usage problems that arise from internet related issues at your end.

e) The Company reserves the right to either accept or reject your registration for the Services without the obligation of providing an explanation to you. 

3. Collection and usage of data

a) You agree that the personal information such as name, address, contact number, email address, gender, date of birth, employer details, etc, as applicable (“Personal Information”) you have to provide to us upon registration, and at all other times will be true, accurate, current, and complete. You agree to maintain and update the Personal Information and to keep the Personal Information true, accurate and complete.

b) You agree and understand that the Personal Information provided by you shall be disclosed, used, maintained, and shared with True Credits or the Lending Partners for the purpose availing of Loan, Loan application assessment and other connected purposes, as per the applicable laws.

c) You agree that the Company or True Credits and or its Lending Partner  and/ or his authorised representative may communicate with you either by phone calls, SMS, WhatsApp, electronic mails or through any other mode of communication available for the purpose of follow up or offers in relation to the Loan provided via Platform, or to invite your interest in availing any product or service offered by Lending Partners or True Credits. 

d) You agree and understand that apart from Personal Information, True Credits, or Lending Partner may also require certain more information through Platform for the purposes of Loan including but not limited to for the purpose of on-boarding/ KYC requirements in accordance with applicable laws. You agree to read and understand the terms and conditions of collection of such information. 

e) You agree and understand that the Platform is operated by Balancehero India Private Limited (“BHI") and it is an entity  registered with RBI to provide pre-paid instrument (PPI). Hence, any other services offered by BHI shall be independently governed by the terms and conditions mentioned by BHI on  the Platform including any access required by BHI to its services.

f) You hereby give your explicit consent to True Credits or its Lending Partner to check your credit bureau information and use the same whenever its required and do necessary reporting to credit bureaus, as and when required. You also agree and authorize True Credits or its Lending Partner to generate subsequently an additional report through Credit Information Companies (CICs).


4.  User Warranties and Restrictions


a) You agree, represent, and warrant that your use of this Platform and/or Services will not violate any applicable law or regulation. You hereby understand that your use of this Platform shall be for lawful purposes only and any activity undertaken which is harmful to the Company or the Platform or otherwise is not envisaged through the Platform. You have a limited license to access and use the Platform, solely for the purpose of availing the Services, subject to the Service Terms. 


b) You understand that you are expressly prohibited from:

i. Deleting or modifying any content on the Platform;

ii.Using any engine, software, tool, agent or other mechanism to navigate or search on the Platform;

iii. Making any  false or malicious statements against the Services or the Platform;

iv. Posting, copying, submitting, uploading, distributing, or otherwise transmitting or making available any software or other computer files that may contain a virus or other harmful component/code, or otherwise disrupt or damage the Platform or the Services or any connected network;

v. Introducing any trojans, viruses or any other malicious software bots;

vi. Probing, scanning or testing the vulnerability of any system, security or authentication measures implemented by us or otherwise tamper or attempt to tamper with our technological design and architecture;

vii. Hacking into or introduce malicious software of any kind onto the Platform;

viii. Engaging in any form of antisocial, disruptive or destructive acts, including spamming and phishing. 


c) You are expressly prohibited from hosting, displaying, uploading, modifying, publishing, transmitting, updating or sharing on or through the Platform or in relation to Platform, any information that (i) belongs to another person; (ii) is harmful, harassing, defamatory, obscene, pornographic, invasive of another’s privacy, hateful, relating to or encouraging money laundering or gambling or otherwise harmful in any manner whatsoever; (iii) harms minors in any way; (iv) infringes any patent, trademark, copyright or other proprietary rights; (v) violates any law for the time being in force; (vi) deceives or misleads the addresse about the origin of such messages or communicates any information which is grossly offensive or menacing in nature; (vii) impersonates or defames another person; and/or (viii) contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer resource. 


d) You shall prevent your mobile/electronic device or systems from any fake, or harmful websites/mobile applications. You are strictly advised to check the veracity of the Platform before downloading/using any mobile application which claims to be linked with Platform. 


e) You shall read the sanction letter, terms and conditions and other loan documents in relation to any Loan carefully and shall agree/fulfil your obligation towards True Credits, or Lending Partner as agreed with True Credits, or Lending Partner. 


f) You shall not use the name of the Platform or any intellectual property of Platform in order to defame or do any act/omission prohibited under law. 

5. Termination 


You hereby understand and acknowledge that the Company reserves a right to suspend or revoke your access to the Platform without giving prior notice, without any liability and providing adequate reason to you at its sole and absolute discretion. You also understand that any suspected fraudulent, abusive, or illegal activity may be referred to the respective law authorities, and this remedy is in addition to any other remedies that Company may have in law.

6. Amendments


The Company reserves an absolute right to make any changes and amendments to the Platform and the said  T&Cs, at any time as it may deem fit and proper, without any obligation to provide an advance notice. Your continued use of the Platform constitutes acceptance of any such changes and agreement to be bound by the updated terms and conditions. 

7. Indemnification


a) You agree to indemnify and hold the Company and its officers, directors, agents and employees, harmless from any and against any claims, causes of action, demands, recoveries, losses, damages, fines, penalties or other costs and expenses of any kind or nature, including reasonable attorney’s fees, or arising out of or related to your breach of this T&Cs, your violation of any law or the rights of a third party, or your use of the Platform, any dispute or litigation caused by your actions or omissions, your negligence and fraud committed by you.


b) Notwithstanding anything to the contrary, the Company (including its officers, directors, employees, representatives, affiliates, group companies and providers) will not be responsible or liable for any injury, death, loss, claim, act of God, accident, delay, or any direct, special, exemplary, punitive, indirect, incidental or consequential damages of any kind (including without limitation lost profits or lost savings), whether based in contract, tort, strict liability or otherwise, that arise out of or is in any way connected with (a) any failure or delay with respect to use of any component of the Platform; (b) any use of the Platform or content; (c) performance or non-performance by us or any provider, even if we have been advised of the possibility of damages to such parties; or (d) any damages to or viruses that may infect your computer equipment or other digital/electronic property as the result of your access to the Platform or your downloading of any content from the Platform

8. Disclaimer 


You understand and acknowledge that you will be solely responsible for all and any activity that may occur under your account while accessing Platform. The Company shall not be responsible or/and liable for any claims, damages, disputes arising out of use or misuse of the Services. 


9. Governing Law and Jurisdiction


Any dispute arising out of the Services, the Platform, these T&Cs, or any dispute involving you and the Company shall be governed by and construed in accordance with the laws of India. You agree any legal action or proceeding arising out of the foregoing may be brought exclusively in the competent courts having jurisdiction in Gurugram, Haryana, India. 


10. Severability 


If any provision of these T&C is held by a court of competent jurisdiction to be unenforceable under the applicable law, then such provision will be excluded from these T&C, without affecting the remainder of these T&C. 


11. Waiver


No provision of these T&C will be deemed waived and no breach by you shall be excused, unless such waiver or consent is in writing and duly signed and stamped by the Company. Any consent by the Company, or waiver of your breach will not constitute consent to, waiver of, or excuse for any other different or subsequent breach. 


12. Grievances


You agree and understand that the Company., being a facilitator of the Platform, has its scope of addressing the queries and complaints limited till the use and access of the Platform. In accordance with the applicable law, any concern or grievance in relation to Loan being provided by the True Credits or the Lending Partners is outside the purview of the Company. In case of any queries or grievances, you may contact our grievance officer at our website


13. Miscellaneous


In addition to these T&C, you will also ensure that you are in compliance with the respective terms and conditions of the services being availed. You agree that the Company is and will not be liable for any transaction between you and the Lending Partners and/or True Credits, till the extent the applicable law allows. Further, these T&C superseded all previous oral and written terms and conditions (if any) communicated to you by the Company for the use and access of this Platform. 

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