VELICHAM FINANCE PRIVATE LIMITED

TERM LOAN – TERMS & CONDITIONS AND BORROWER DECLARATIONS

Opening Acceptance and Applicability

By proceeding with the loan application — including by clicking accept, submitting documents, providing One Time Password, or physically signing — I/We hereby agree and confirm the following Terms and Conditions applicable to all types of loans offered by Velicham Finance Private Limited (“Velicham” / “Lender”), including loans that are sourced, processed, evaluated, co-originated, assigned, funded, or disbursed through Business Correspondent partners or co-lending partners.

Definitions and Parties Covered

1. Applicant means the primary person applying for the loan.
2. Co-Applicant means an additional person who joins the loan application and shares repayment responsibility.
3. Guarantor means a person who guarantees repayment of the loan even if they do not receive loan proceeds.

These three parties shall together be referred to as the:

“Borrower Parties”

All declarations, consents, authorizations, responsibilities, disclosures, acknowledgments, indemnities, liabilities, and obligations contained in these Terms and Conditions apply to each of the Borrower Parties, jointly and individually, regardless of:

• who receives the loan proceeds
• whose income is used for eligibility
• whose documents are submitted
• who signs the agreement
• whether the loan is sanctioned or disbursed

Where the text refers to “I/We”, it shall be interpreted to mean all Borrower Parties collectively and individually.

Joint and Several Responsibility

All Borrower Parties agree that repayment responsibility, compliance obligations, legal enforceability, and liabilities under these Terms and Conditions apply jointly and severally, and Velicham may proceed against any one or more of them for repayment, enforcement, reporting, or legal action without first proceeding against the primary Applicant.

1. Loan Application, Assessment and Approval
   1. Submission of a loan application does not guarantee approval, sanction, or disbursement.
   2. Velicham and/or any Business Correspondent partner or co-lending partner has the sole discretion to approve, reject, modify, or reduce the loan amount or terms without assigning any reason.
   3. Sanction terms are valid for thirty days, subject to verification and confirmation.
   4. Incomplete, unverifiable, misleading, or incorrect information may result in rejection, cancellation, or recall of the loan.
2. Accuracy of Information and Misrepresentation
   1. All information, documents, income details, property details, business details, and declarations furnished are true, correct, complete, and up to date.
   2. The Borrower Parties shall immediately inform Velicham of any change in:
      • residential address
      • contact details
      • employment or business
      • income or earning members
      • ownership or possession of secured property (if applicable)
   3. Velicham may cancel, suspend, or recall the loan if misrepresentation, fraud, suppression of facts, or material discrepancy is identified.
   4. The Borrower Parties indemnify Velicham, Business Correspondent partners, and co-lending partners from losses arising from inaccurate or falsified information.
3. KYC Verification and Regulatory Compliance
   1. The Borrower Parties consent to verification of identity and information through:
      • Aadhaar authentication
      • PAN verification
      • Central KYC registry
      • government databases
      • banking analysis
      • field verification and tele-verification
   2. The Borrower Parties confirm that all documents submitted belong to them and are genuine.
   3. The loan may be withdrawn or denied if KYC or anti-money laundering concerns arise.
4. Credit Assessment, Reporting and Impact
   1. The Borrower Parties authorize Velicham, Business Correspondent partners, and co-lending partners to obtain and share credit bureau reports.
   2. Delays, defaults, restructuring, or settlements will be reported and may negatively affect credit score and borrowing eligibility.
   3. Credit information may be shared with other lenders and agencies for assessment and monitoring.
5. Data Collection, Storage, Processing and Sharing Consent
   The Borrower Parties agree that:
   1. Velicham may collect, store, retain, process, and use personal, financial, demographic, device, location, and application data for underwriting, servicing, repayment, collections, fraud prevention, compliance, and regulatory purposes.
   2. Data may be shared with:
      • Business Correspondent partners
      • co-lending partners
      • payment processors
      • verification agencies
      • technology and analytics providers
      • statutory and regulatory authorities
   3. Data may be retained even after loan closure for the duration required by law.
   4. The Borrower Parties consent to Velicham capturing, storing, and using photographs including but not limited to:
      • the Borrower Parties’ photograph
      • residential house photograph
      • business, shop, workplace, or earning activity photograph

      These images may be used for identity verification, address verification, business verification, loan assessment, audit trail, fraud prevention, documentation compliance, and may be shared with Business Correspondent partners, co-lending partners, regulators, and verification agencies, and may be retained as required under law.

6. Consent for Business Correspondent and Co-Lending Assignment
   1. The Borrower Parties agree that the loan application may be sourced, processed, evaluated, transferred, co-originated, or disbursed through one or more Business Correspondent partners or co-lending partners.
   2. Any such partner may independently decide to approve, reject, modify, or sanction the loan based on their internal assessment.
   3. The Borrower Parties understand and agree that Velicham may forward, assign, transfer, or route the loan application, documents, information, and assessment details to one or more Business Correspondent partners or co-lending partners, and any such partner may independently process, evaluate, approve, reject, sanction, or disburse the loan, and the Borrower Parties give full and unconditional consent for the same.
   4. This consent remains valid regardless of:
      • the number of partners reviewing the application
      • the order in which they review it
      • whether the loan is sanctioned or disbursed
   5. No additional consent or signature is required from the Borrower Parties for such assignment, forwarding, or participation.
7. Insurance Consent
   1. The Borrower Parties consent to Velicham arranging loan-linked life insurance on applicable premium payable by them.
   2. The Borrower Parties also consent to insurance being taken for earning family members where required for credit eligibility or protection.
   3. Insurance charges, once paid or deducted, are non-refundable.
8. Repayment, Mandate Registration and Auto-Debit Authorization
   1. The Borrower Parties authorize Velicham, Business Correspondent partners, co-lending partners, and authorized payment agents to:
      • register recurring debit mandates
      • collect instalment payments automatically
   2. Bank charges, dishonor penalties, and bounce fees are the responsibility of the Borrower Parties.
   3. Instalment schedule and due dates will be communicated separately.
9. Fees, Charges and Deductions
   1. Processing fees up to two percent of the loan amount apply.
   2. All fees are exclusive of taxes and statutory levies, which will be charged additionally.
   3. Processing fees, insurance premiums, and stamping charges are not refundable.
10. Electronic Communication and Digital Acceptance
    The Borrower Parties agree that:
    1. Acceptance through One Time Password, mobile application, checkbox confirmation, digital signature, or electronic submission is legally valid and binding.
    2. Velicham may communicate through telephone calls, Short Message Service, WhatsApp messages, email, and digital channels for service, repayment reminders, and regulatory purposes.
    3. Digital records, timestamps, system logs, and audit trails constitute valid evidence.
11. Indemnity and Limitation of Liability
    Velicham is not liable for losses arising from:
    • loan rejection
    • delay in loan approval
    • delay in loan disbursement
    • business interruption
    • reduced income
    • technology failures
    • network issues
    • verbal statements by staff

    Only written and system-recorded terms apply and prevail.

12. Document Retention
    Documents and photographs submitted may be retained and may not be returned.
13. Governing Law, Dispute Resolution and Jurisdiction
    1. These terms are governed by the laws of India.
    2. Disputes shall be resolved through arbitration in accordance with applicable law.
    3. Courts and tribunals having jurisdiction shall be located in Chennai, unless required otherwise under a co-lending structure.
14. Acknowledgment and Confirmation
    The Borrower Parties confirm that:

    English
    The Borrower Parties confirm that the contents of this agreement have been read and understood, that where required the contents were explained in a language understood, and that the Borrower Parties are fully competent and authorized to enter into this agreement.

    Tamil (தமிழ்)
    இக்கராரின் உள்ளடக்கங்கள் படிக்கப்பட்டு புரிந்துகொள்ளப்பட்டதாகவும், தேவையான இடங்களில் உள்ளடக்கங்கள் எங்களுக்கு புரியும் மொழியில் விளக்கப்பட்டதாகவும், இக்கராரில் இணைய கடன் பெறுநர் தரப்பினருக்கு முழு அதிகாரமும் தகுதியும் உள்ளதாகவும் கடன் பெறுநர் தரப்பினர் உறுதிப்படுத்துகிறார்கள்.

    Malayalam (മലയാളം)
    ഈ കരാറിലെ ഉള്ളടക്കം വായിക്കുകയും മനസ്സിലാക്കുകയും ചെയ്തതായി, ആവശ്യമായിടത്ത് ഉള്ളടക്കം ഞങ്ങൾക്ക് മനസ്സിലാകുന്ന ഭാഷയിൽ വിശദീകരിക്കപ്പെട്ടതായി, കൂടാതെ ഈ കരാറിൽ പ്രവേശിക്കാൻ വായ്പാഗ്രാഹക പാർട്ടികൾക്ക് പൂർണ്ണ ശേഷിയും അധികാരവുമുണ്ടെന്ന് വായ്പാഗ്രാഹക പാർട്ടികൾ സ്ഥിരീകരിക്കുന്നു.

    Telugu (తెలుగు)
    ఈ ఒప్పందంలోని విషయాలను చదివి పూర్తిగా అర్థం చేసుకున్నామని, అవసరమైన చోట విషయాలను మాకు అర్థమయ్యే భాషలో వివరించబడినట్లు, అలాగే ఈ ఒప్పందంలో ప్రవేశించడానికి బ్యారోవర్ పార్టీలకు పూర్తి అధికారం మరియు అర్హత ఉందని బ్యారోవర్ పార్టీలు ధృవీకరిస్తున్నారు.

    Hindi (हिंदी)
    उधारकर्ता पक्ष पुष्टि करते हैं कि इस अनुबंध की सामग्री पढ़ी और समझी गई है, जहाँ आवश्यक हो सामग्री हमें समझ आने वाली भाषा में समझाई गई है, और इस अनुबंध में शामिल होने के लिए उधारकर्ता पक्ष पूर्णतः सक्षम और अधिकृत हैं।

    Marathi (मराठी)
    कर्जदार पक्ष पुष्टी करतात की या करारातील मजकूर वाचून आणि समजून घेतलेला आहे, आवश्यक ठिकाणी मजकूर आम्हाला समजेल अशा भाषेत समजावून सांगितला गेला आहे, आणि या करारात सहभागी होण्यासाठी कर्जदार पक्ष पूर्णपणे पात्र आणि अधिकृत आहेत.