These Terms of Service (“Terms”) govern your use of the Bharosa technology platform (“Platform”, “we”, “us”). Bharosa is a digital intermediary that connects persons seeking credit (“Borrowers”) with persons willing to extend credit on a peer-to-peer basis (“Lenders”). By creating an account, completing KYC, requesting a loan, funding a loan, or using any Bharosa service, you agree to these Terms.
1. Nature of the Platform
Bharosa is not a bank, not a deposit-taking institution, and not the lender of record for loans arranged on the Platform. Loans are direct contractual obligations between Borrowers and Lenders. Bharosa does not accept public deposits and does not guarantee repayment to any Lender. Operations are designed with reference to applicable Reserve Bank of India (RBI) directions on peer-to-peer lending platforms and fair-practice expectations, as they apply to a technology intermediary.
2. Eligibility and KYC
You must be at least 18 years old, competent to contract under the Indian Contract Act, 1872, and provide true KYC information (including PAN, Aadhaar where collected, photograph, live selfie, and consent video). We may verify identity, report to Credit Information Companies, and suspend accounts that fail verification or AML checks.
3. Loan contracts and fees
Each funded loan is governed by the e-signed P2P Digital Loan Agreement displayed at request and again before disbursal. Interest, tenure, EMI schedule, processing fee, GST, and Risk Management Fund (RMF) deductions shown before e-sign form part of that contract. Processing fees, GST, and RMF deducted at disbursal are platform charges for matching, KYC, and operational risk participation. They are not a bank fee and are not refundable once the loan is disbursed, except where required by mandatory law.
4. Repayment, default and late charges
Borrowers must repay each EMI on or before the due date through the designated payment channels (including Razorpay). An unpaid EMI may be marked overdue. A flat late fee of 10% of the overdue EMI and 1% daily penal interest on that EMI may apply and is payable to the Platform, not to Lenders. Default may result in acceleration, CIC / CIBIL reporting, recovery agents, and legal proceedings as set out in the loan agreement.
5. Lender acknowledgements
Lenders understand that capital is at risk, returns are not guaranteed, and RMF is not insurance or a bank deposit guarantee. Wallet balances are operational balances for matching and payout, not savings accounts.
6. Payments
Card, UPI, and net-banking collections are processed by Razorpay or other licensed payment partners. You authorise us to instruct payouts to the bank account on your KYC file. A payout to that account is a good discharge even if you later claim the details were wrong.
7. Acceptable use
You shall not use the Platform for unlawful purposes, money-laundering, terror financing, gambling of prohibited kinds, or to frustrate recovery. False KYC, chargebacks raised in bad faith, or threats against staff or agents are grounds for suspension and reporting to competent authorities.
8. Limitation of liability
To the maximum extent permitted by law, Bharosa is not liable for Lender funding decisions, Borrower default, banking-rail delays, or accurate CIC reporting. If liability is nonetheless imposed, it is limited to the processing fee actually deducted on the relevant loan, except in cases of proven wilful misconduct or fraud by Bharosa.
9. Governing law
These Terms are governed by the laws of India. Disputes shall first be raised through in-app grievance channels. Subject to arbitration clauses in a specific loan agreement, competent courts in India shall have jurisdiction.