Terms & Conditions

Terms & Conditions for Cash Loan

This document is published in compliance of and shall be governed by Indian law, including but not limited to (i) The Indian Contract Act, 1872; (ii) The Information Technology Act, 2000, the rules, regulations, guidelines and clarifications framed thereunder including the Information Technology (Reasonable Security Practices And Procedures And Sensitive Personal Information) Rules, 2011, and the provisions of rule 3 (1) of the Information Technology (Intermediaries Guidelines) Rules, 2011; (iii) The Payment And Settlement Systems Act, 2007 and applicable rules, regulations and guidelines made thereunder; and (iv) Reserve Bank of India Act, 1934 and the applicable rules, regulations and guidelines made thereunder. This document is an electronic record in the form of an electronic contract formed under Information Technology Act, 2000 and rules made thereunder and the amended provisions pertaining to electronic documents / records in various statutes as amended by the Information Technology Act, 2000. This agreement does not require any physical, electronic or digital signature.

This agreement is a legally binding document between you and True Credits Private Limited, Balancehero India Private Limited and Partner (terms defined below). The terms of this document will be effective upon your acceptance of the same (in electronic form or by means of an electronic record or other means) and shall govern the relationship between you and True balance for the use of True balance services.

  1. For the purpose of these Terms of Use, wherever the context so requires-

    a) “You/Your”, “Borrower” or “User” shall mean any natural or legal person who has registered with True balance and who has accepted these Terms of Use.
    b) “We”, “Us”, “Our”, “True balance” shall mean Balancehero India Private Limited.
    c) “True Credits” shall mean True Credits Private Limited.
    d) Partner


  2. These terms and conditions (“T&C”) and all applicable T&C issued by True Credits and Partner, as the case may be, govern your rights and obligations as a Borrower / User for the Cash Loan availed from True Credits and/ or Partner via True balance mobile application. You agree and acknowledge that the Cash Loan availed through True balance application is provided by True Credits and/ or Partner in association with True Credits.

  3. Your access to and use of the True balance mobile application and the True balance services are conditional upon your acceptance of and continuous compliance with these T&C at all times

  4. The access to the True balance mobile application is only available to persons who are competent to enter into legally binding contracts under the Indian Contract Act, 1872. Any person who shall be considered as incompetent to contract as per the provisions of the Indian Contract Act, 1872, including minors, un-discharged insolvents, etc., are not eligible to use the True balance mobile application.

  5. You agree that the personal information such as name, address, contact number, bank account information, etc. (“Personal Information”) you provide to True balance upon registration and at the time of availing the Cash Loan 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.

  6. Borrower hereby agree and acknowledge that his/her Personal Information will be shared with True Credits and/ or Partner company while availing Cash Loan via True balance application.

  7. Your financial / transactional details will be shared with True Credits for loan application assessment

  8. Cash Loan procured via True balance application is available for Indian citizens only.

  9. You agreed that the instalment for Cash Loan will be debited from your True Balance wallet account as per the repayment schedule provided by True Credits and/ or Partner.

  10. You agree to receive payment reminders through SMS, App notification, Emails and calls, and WhatsApp Message

  11. You agree that your True Balance account will be blocked in case of Default in repayment

  12. You agree that cashback associated with your True Balance account will be blocked in case of Default in repayment

  13. To avail Cash Loans, fulfilment of KYC norms of True Credits and / or Partner is mandatory

  14. You hereby you give your explicit consent to True Credits (and partner) to check you credit bureau information and use the same whenever its required.

  15. True Credits and partner will share your data to the credit bureaus and other regulatory authorities as and when required.

  16. True Credits can appoint the third parties for the loan repayment collection.

  17. Your loan application is not the guarantee of the loan approval.

  18. Loan approval will be on discretion of True Credits and/ or Partner only.

  19. You agree and authorize True Credits and/ or Partner to generate subsequently an additional report through Credit Information Companies (CICs)

  20. You further agree to receive SMS and email and Whatsapp alerts related to your application status and account activity as well as product use messages that the True Balance and True Credits will send, from time to time, on my/our mobile phone number and email provided

  21. You agree to receive the promotional and marketing information on your number and email.

  22. You authorize True Balance to share your information with the any statutory/ regulatory authorities, as appropriate or Balance hero group entities.

  23. You undertake to inform True Balance of any changes in your personal information therein immediately.

  24. In case any of your information is found to be false or untrue or misleading or misrepresenting, you shall be held liable for it.

  25. You hereby consent for receiving information from Central KYC Registry through SMS/Email on the registered number/email address.

  26. In case you have submitted your KYC with True Balance, then your KYC will be shared with True Credits and / or Partner for loan assessment.

  27. In the loan process you will be redirected to the bank account statement fetching partner, and your account statement will be used to assess your loan.

  28. You hereby consents that TC and/ or his authorised representative may communicate with you either by phone calls, SMS, electronic mails or through any other mode of communication available for the purpose of discussing the current status of you Loan(s) or reminder/ collection of any dues in respect of any loan or for any matter related to the loan(s) and such phone calls, SMS, etc., shall not be covered under the purview of “Do Not Disturb” policy of the Telecom Regulatory Authority of India (TRAI). For this purpose, you hereby grant permission to True Credits to contact you any time between 0900 hours to 2100 hours from Monday to Sunday.

  29. You agree and permits True Credits to disclose to your family members (i. e. parents, spouse, children, sisters and brothers) or other persons whose details have been provided by the Borrower either in loan application form or otherwise from time to time, all necessary or relevant particulars/information relating to you and the loan.

  30. You agree to provide 1 NACH instruction favouring True Credits collections account, instructed by True Credits. The NACH instructions will be for the loan amount. True Credits will only process the NACH instructions as per the amount due each month.

  31. You shall not close your bank account provided with loan application without prior intimation to True Credits and in case such an account is closed, the Borrower shall substitute all NACH instructions.