Approved by

Regn No. N-02.00290

Rupeek Loan Terms

Last Updated April 6th, 2018

Loan terms Categories

Rupeek Capital Private Limited

1. Agreement: These T&Cs and the Pledge Card (together, the Loan Agreement) form the agreement between the Company and the Borrower with respect to the Loan given by the Company to the Borrower. In the event of any inconsistency between the T&Cs and the Pledge Card, the terms of the Pledge Card shall prevail.

2. Loan: The Borrower confirms that he/she has carefully perused and understood the various gold loan products offered by the Company, has sought and received all relevant information and clarifications from the Company and upon a thorough assessment of all such information, has opted to avail the Loan specified in the Pledge Card. In the event that any of the products offered by the Company are discontinued, the Borrower may either migrate to the new product offered by the Company in lieu thereof or prepay all amounts and close the Loan account.

3. End Use: The Borrower represents and warrants that the Loan shall not be utilised for any unlawful or illegal purposes.

4. Calculation of interest: Interest will be calculated on the basis of 365 days a year on the amount outstanding, and such period shall be inclusive of the date of the sanction of the loan and closure of the loan. Interest shall be compounded on a monthly basis.

5. Revisions to interest rate: The Company has the right to revise the interest rates chargeable on the Loan at any time at its sole discretion, taking into account any relevant considerations. The Borrower shall be provided written notice of the revised rates of interest, prior to giving effect to the same. In the event that the revised interest rate is not acceptable to the Borrower, the Borrower shall repay the Loan and all amounts due and payable thereon within a 2 (two) weeks from the date of intimation of the revised rates.

6. Repayment on demand: The Company is entitled to recall / cancel the Loan at any time at its discretion without assigning any reasons and thereafter the Loan together with all interest and other charges shall immediately become due and payable to the Company.

7. Accelerated repayment: If at any time, the Company is of the opinion that: (a) the market value of the Collateral has fallen, or (b) that a whole or part of the Collateral is not of the represented weight or purity, or (c) that there is any defect to the title of the Borrower to the Collateral, the Company may re-evaluate the purity and weight of the Collateral, internally or by experts, at the sole cost and expense of the Borrower. In the event of any discrepancy in the value or title to the Collateral, and notwithstanding any certificate of purity and weight of the Collateral issued by the Company, the Company may, at its sole discretion, either: (X) provide the Borrower an opportunity to make good the shortfall by pledging additional gold jewellery, or make good the title of the Pledged Jewellery, as the case may be, or (Y) require the Borrower to immediately repay the Loan, together with interest and all other charges thereon.

8. Prepayment: The Borrower can prepay the Loan (or part thereof) at any time, subject to pre-payment charges specified in the Pledge Card.

9. Payment of other charges: The Borrower shall, apart from repayment of the principal and interest thereon, also be required to clear all dues, including but not limited to all applicable taxes and other charges in relation to: (i) application and sanction of the Loan; (ii) repayment of the Loan; (iii) enforcement of the pledge of the Collateral; and (iii) other applicable charges and taxes due and owing to the Company or regulatory authorities, as the case may be.

10. Pledge of Collateral: The Borrower hereby pledges the Collateral with the Company as security for the repayment of the Loan, interest and all other costs and charges thereon or arising therefrom.

11. Valuation of Collateral and Ownership: (i) The quantum of the Loan is dependent on the purity and the valuation of the Collateral and has been determined in accordance with the relevant laws, regulations and directions applicable to the Company (Applicable Laws). Gem stones in the Collateral are not taken into account in determining the value of Collateral and the Company shall not be liable for the loss of any gem stones embedded in the Collateral. (ii) The Borrower represents and warrants that the Collateral is the absolute, sole and unencumbered property of the Borrower and he/she is not, in any manner, restricted from pledging the Collateral with the Company as security. Other than the pledge in favour of the Company, during the currency of the Loan, the Borrower undertakes not to create any security interest whatsoever on the Collateral. (iii) The Borrower authorises the Company to undertake such actions as the Company deems fit to ascertain the value and ownership of the Collateral. The Borrower shall provide all information and co-operation as may be requested by the Company in this regard. (iii) The Borrower acknowledges that the assessment of purity and weight of the Collateral by the Company at the time of pledging the Collateral is only based on a preliminary verification carried out at the time of granting the Loan and is not final and binding on the Company. (iv) No verification carried out by Company will discharge or diminish any liability of the Borrower.

12. Provision of information by Borrower: The Borrower warrants that all information provided by the Borrower is true and accurate. The Borrower shall provide due notice of any change or update in the information provided to the Company.

13. Auction: (i) In the event of any payment default by the Borrower, the Company shall be entitled to sell or otherwise dispose of the Collateral through a public auction, in accordance with Applicable Law (the Auction). A written notice of [●] days of the proposed Auction, along with details of the items of Collateral being Auctioned, the date, time and venue of the Auction, and the reserve price of the Collateral for the Auction shall be given to the Borrower. All costs and expenses pertaining to the Auction shall be borne by the Borrower.

14. Auction Proceeds: The net proceeds from the Auction shall be utilised by the Company in recovering all unpaid principal, interest, default interest and other costs and charges, including those relating to the conduct of the Auction, in respect of the Loan. The net proceeds of the Auction shall be utilised in the following order: (i) towards the payment of default interest, costs, charges and expenses relating to the Loan, (ii) towards the interest payable on the Loan and (iii) towards the unpaid principal amount of the Loan. The surplus amount, if any, shall first be adjusted by the Company against any other liability of the Borrower to the Company (whether owed solely or jointly with others) on any account whatsoever. Thereafter, any surplus shall be refunded to the Borrower within [●] days from the date of completion of the Auction. If the proceeds of the Auction are less than the total amount owed by the Borrower to the Company, the Borrower shall continue to be responsible for repayment of such shortfall and the Company may take such legal actions against the Borrower to recover such shortfall as it deems fit.

15. Release of Collateral: Subject to Clause 15, upon discharge of all liabilities of the Borrower to the Company, to the Company’s satisfaction, the Company shall release the Collateral to the Borrower upon presentation of the original Pledge Card and completion of such formalities as may be required by the Company. The Company may, at its discretion, upon the Borrower providing the Company with such indemnity, completing such formalities and paying such charges as the Company may require, release the Collateral to the Borrower in instances where the Borrower is unable to produce the original Pledge Card. The Collateral shall be released only to the Borrower availing the Loan and only at the Borrower’s address mentioned in the Pledge Card.

16. Lien for other liabilities: The Borrower expressly confirms that the Company shall have the right to exercise lien on the Collateral to secure the repayment of any other liability of the Borrower to the Company (whether owed solely or jointly with another person), which is due and payable, until such other liability is also fully settled. Exercise of such lien will be duly intimated to the Borrower by letter, courier service, email, SMS, telephone or any other mode of communication.

17. Insurance: The Company shall provide for adequate insurance cover for the Collateral within its custody, including Collateral in transit.

18. Company’s liability: In the event of any loss of or damage to the Collateral during the tenure of the Loan, the Company’s liability shall be limited to: (i) in the event of loss, the extent of the net weight of the Collateral as mentioned in the Pledge Card, minus the Loan amount and interest and other charges owed to the bank till date, or (ii) in the event of damage, to the extent of the damage to the Pledged Jewellery. If the loss/damage is caused due to reasons beyond the Company’s control the Borrower shall only be compensated to the extent of the insurance coverage for the same and only upon the insurance settlement being received by the Company for such claim.

19. Transfer and Assignment: The Company may assign, transfer or sell its rights, title, and interest to the Loan, including the Collateral to any bank, non-banking financial institution or any other financial institution or third party. The Company shall not entertain any transfer of loan accounts from the Borrower to any other person or from one of its branches to another, except in the manner provided in the Fair Practices Code published on the Company's website -

20. Reporting and Disclosures: The Borrower acknowledges that the Company is required to disclose information with respect to the Loan, including personal information and the credit score of the Borrower, to various authorities and credit information companies such as the CIBIL, the Reserve Bank of India, the Financial Intelligence Unit, etc. It is further understood that such regulatory and statutory authorities may utilise or share the information in the manner deemed fit and necessary by them. The Borrower expressly authorises the Company to make such disclosures.
The Borrower further confirms that in case of any default in repayment of the Loan or interest thereon, the Company has an unqualified right to disclose or publish the Borrower’s name, details and photograph as a defaulter in such manner and through such medium, as the Company thinks fit. The Company is also authorised to undertake road show(s) or conduct open “Munadis” (announcements through loud speakers) for the purposes of recovering the Loan.

21. Notices: The address for all communications to the Borrower shall be as specified in the Pledge Card, unless otherwise notified by the Borrower in writing. Any communication made by the Company to such address shall deemed to have been received and accepted by the Borrower, unless otherwise notified in writing to the Company. The Company may use any mode of communication, including registered post, courier, e-mail, SMS or telephone communication. The Company may also use the services of any third party web or mobile applications. All communications made by the Company through such application with the Borrower shall be deemed received by the latter upon the transmission of pop-up notifications on the Borrower’s web/mobile application, as the case may be. The Borrower hereby agrees that the Company may communicate with the Borrower over e-mail and telephone communication regarding transactional and promotional material and the Borrower consents to the same. All such communications shall be in accordance with Applicable Law. All communication with the Borrower over telephone may be recorded by the Company for future use. Borrower shall not record any communication with the Company or its representatives without their express consent.

22. Taxes: All present and future charges relating to administration, interest tax, service tax, duties (including stamp duty), sales tax/VAT, stamp duty, and taxes of any description as may be levied by the Government or any other authority from time to time and all other costs and expenses whatsoever in connection with (a) application for and the grant and repayment of the Loan; (b) recovery and realization of the Loan together with interest and other charges thereon; (c) enforcement of security; (d) clearance of arrears of all taxes and any other charges and levies of the Government in respect of the Collateral and (e) insuring the Collateral shall be to the account of the Borrower.

23. Governing law and dispute resolution: These T&Cs and Pledge Card shall be governed by the laws of India. All disputes, differences and claims arising out of or in connection with the Loan, including but not limited to these T&Cs and the Pledge Card and all other documents executed in relation to the Loan, shall be settled by arbitration in accordance with the Arbitration and Conciliation Act, 1996, as amended from time to time, by a sole arbitrator appointed by the Company. The arbitrator’s award will be final and binding on all parties. The venue of the arbitration shall be Bangalore, India and the proceedings shall be conducted in the English language.

24. Grievances: In the event of any grievances, complaints, clarifications or feedback, please write to or contact the Company at 080-39534646. The Company shall endeavour to respond to your communication within 3 business days, failing which the Borrower can address his/her grievances, complaints, clarifications or feedback to the [Insert name, contact details and address of the branch manager/relevant authority].

25. Fair Practices Code: This Loan is sanctioned in compliance of the terms of the "Fair Practices Code” of the Company published on the Company's website Changes in the terms and conditions of the Fair Practices Code will also be notified on the website from time to time and will be applicable for all loans sanctioned subsequently.

26. Erroneous Payments: Erroneous Payments made by one party to another shall be refunded in full by the recipient.