By availing services from MPS Financial Services Pvt. Ltd., the customer agrees to the following:

2.1 Eligibility

  • Applicant must be an Indian resident above 18 years of age
  • Valid KYC documents and proof of income are mandatory
  • Loan approval is subject to internal credit assessment and partner Bank/NBFC policies

2.2 Loan Disbursement

  • Loans are sanctioned and disbursed only after successful verification
  • Disbursement timelines depend on Bank/NBFC processing
  • Applicable processing charges, interest rates, and repayment schedules are disclosed upfront

2.3 Repayment Terms

  • Repayments are primarily collected through eNACH mandates or other approved digital payment modes
  • The customer must ensure adequate balance in their bank account before EMI due dates
  • Delays or defaults may lead to:
    • Penal interest/late payment fees
    • Reporting to credit bureaus (which may impact credit score)
    • Recovery actions as per the loan agreement

2.4 Prohibited Practices

  • Submission of false documents or misrepresentation will result in loan cancellation and legal action
  • Funds must be used strictly for the declared purpose mentioned in the loan application

2.5 Company Rights

  • The company reserves the right to revise terms, interest rates, or service conditions in compliance with RBI directives
  • Loans may be recalled if fraud, misrepresentation, or breach of contract is detected