These Terms & Conditions ("Terms") govern the use of microfinance and related financial services provided by Wanfair Micro Finance Private Limited ("Foundation", "we", "us" or "our").

By submitting a loan application or availing any service from us, the applicant/customer ("Customer" or "Borrower") agrees to these Terms, along with the applicable Loan Agreement and other documents provided at the time of sanction and disbursement.

1. Loan Application

1. The Customer may apply for a loan through our authorised channels, branches, representatives or approved digital platforms.
2. Submission of a loan application does not guarantee approval or disbursement of the loan.
3. All information and documents submitted by the Customer must be true, complete and accurate.
4. The Foundation may verify the information provided by the Customer through appropriate verification processes.
5. The Foundation reserves the right to approve, reject or seek additional information regarding any loan application in accordance with its applicable policies.

2. KYC and Customer Verification

1. The Customer must complete the applicable KYC and customer identification requirements before loan disbursement.
2. The Customer may be required to provide identity, address, income, bank account and other documents as applicable.
3. The Foundation may conduct customer due diligence and other verification as required under applicable laws and internal policies.
4. Any false, forged, misleading or incomplete information may result in rejection, cancellation or other appropriate action.

3. Credit Assessment

1. Loan eligibility shall be assessed based on applicable credit and risk assessment criteria.
2. The Foundation may consider the Customer's income, repayment capacity, existing liabilities, credit history, household financial position and other relevant information.
3. Where applicable, information may be obtained from credit information companies and other lawful sources.
4. Approval of a loan is subject to satisfactory assessment and applicable eligibility criteria.

4. Loan Sanction

1. If the loan application is approved, the Customer will receive a sanction communication containing applicable loan terms.
2. The sanction letter may specify the sanctioned amount, interest rate, tenure, repayment schedule, applicable fees and other conditions.
3. The sanctioned amount may differ from the amount originally requested by the Customer.
4. Loan sanction shall remain subject to completion of documentation, KYC, verification and other applicable conditions.

5. Loan Agreement

1. The Customer must read and understand the Loan Agreement and related documents before accepting the loan.
2. The Loan Agreement shall contain the applicable terms and conditions of the particular loan.
3. The Customer will be provided with applicable loan documentation as required.
4. In case of any conflict between these general Terms and the specific Loan Agreement, the terms of the applicable Loan Agreement shall prevail to the extent legally permissible.

6. Loan Disbursement

1. Loan disbursement shall be made only after completion of applicable documentation and verification requirements.
2. Subject to applicable requirements, the loan amount may be disbursed through the designated banking/payment channel.
3. The Customer must ensure that the bank account and other payment details provided are correct.
4. The Foundation shall not be responsible for delays arising from incorrect customer information, banking issues or circumstances beyond its reasonable control.

7. Interest, Fees and Charges

1. The applicable interest rate, processing fee and other charges shall be communicated to the Customer before or at the time of loan acceptance, as applicable.
2. The Customer shall be responsible for payment of all applicable amounts specified in the Loan Agreement.
3. Any applicable taxes or statutory charges shall be payable as per applicable law.
4. No charge shall be imposed other than those applicable under the relevant loan/service terms and applicable law.

8. Repayment and EMI

1. The Customer shall repay the loan according to the repayment schedule provided with the loan.
2. EMI/repayment amounts and due dates shall be communicated to the Customer.
3. The Customer must ensure sufficient funds are available through the agreed repayment method on the applicable due date.
4. The Customer should promptly contact the Foundation if there is any genuine difficulty affecting repayment.
5. Any overdue amount may attract applicable charges as specified in the Loan Agreement and applicable law.

9. Prepayment / Foreclosure

1. Prepayment or foreclosure, where permitted, shall be subject to the terms of the applicable Loan Agreement and prevailing applicable regulations.
2. Any applicable charges, if permitted, shall be disclosed to the Customer.
3. The Customer should obtain confirmation of the outstanding amount before making a full settlement.

10. Default

A Customer may be considered in default if the Customer fails to comply with the repayment schedule or other material obligations under the Loan Agreement.

In case of default, the Foundation may take appropriate action in accordance with the Loan Agreement and applicable law.

11. Recovery Practices

1. The Foundation is committed to fair, respectful and lawful recovery practices.
2. Customers shall not be subjected to intimidation, abusive language, threats or unlawful harassment.
3. Recovery personnel, where applicable, shall follow the Foundation's internal code of conduct.
4. Customer information shall be handled confidentially, subject to applicable law and legitimate business requirements.

12. Customer Responsibilities

• Provide accurate and complete information.
• Complete KYC and verification requirements.
• Use the loan for the stated and permitted purpose.
• Pay EMIs and other applicable dues on time.
• Inform the Foundation of changes in address, mobile number, bank account or other relevant information.
• Keep loan documents, receipts and repayment records safely.
• Immediately report any unauthorised transaction or suspicious communication.

13. No Guarantee of Loan Approval

The submission of an application, payment of a processing/service fee, completion of KYC or receipt of preliminary communication does not guarantee loan approval or disbursement.

Loan approval shall remain subject to the Foundation's applicable eligibility, verification, credit assessment and documentation requirements.

14. Customer Data and Confidentiality

1. Customer information shall be collected, processed, stored and used for legitimate purposes connected with providing and administering financial services.
2. Information may be shared with authorised service providers, credit information companies, regulators, government authorities, financial institutions or other parties where permitted or required by applicable law.
3. The Foundation shall take reasonable measures to protect customer information from unauthorised access or misuse.

15. Communication

The Customer authorises the Foundation to communicate regarding the loan application, sanction, repayment, account servicing, important notices and other relevant matters through available communication channels, including phone, SMS, email, WhatsApp or other permitted electronic means.

The Customer should ensure that the registered contact details remain updated.

16. Fraud and Misrepresentation

The Foundation may take appropriate action where there is evidence of fraud, identity misuse, forged documents, material misrepresentation, unauthorised activity or misuse of financial services.

The Foundation may also report such matters to appropriate authorities where required or permitted by law.

17. Grievance Redressal

Customers may raise complaints or grievances relating to our services through the above contact details.

Complaints shall be reviewed and handled in accordance with the Foundation's applicable grievance redressal procedure.

18. Third-Party Links and Services

Our website or digital platforms may contain links or references to third-party services. The Foundation is not responsible for the independent policies or practices of third-party websites or service providers.

19. Modification of Terms

The Foundation may update these Terms from time to time to reflect changes in its services, policies, applicable laws or regulatory requirements.

The updated Terms may be published on the official website or communicated through appropriate channels.

20. Governing Law

These Terms shall be governed by the applicable laws of India.

Any dispute shall be subject to the jurisdiction of the competent courts/authorities having jurisdiction in accordance with applicable law.

21. Important Customer Notice

22. Contact Information

Wanfair Micro Finance Private Limited

Email: info@wanfair.in
Phone: +91 844 000 5400
Address: 104-105 pawan tower sodala , Jaipur, Rajasthan – 302019

Last Updated: [DD-MM-YYYY]