Terms & Conditions

Welcome to CashMyPayment (A Brand of Sawalsha Leasing & Finance Pvt. Ltd.). Please read these Terms and Conditions (“Terms of Use”) carefully. By accessing or using this website, you agree to comply with all the terms outlined herein. If you do not agree, you are advised not to use this website.

General Terms & Conditions

  • Acceptance of Terms
    • Thank you for visiting www.CashMyPayment.com. By accessing or using the website, whether as a registered user or a guest, you agree to these Terms of Use and any additional terms referenced herein. Please review these terms thoroughly as they govern your interaction with the website.
  • Ownership and Operation

    • The website is owned and operated by Sawalsha Leasing & Finance Pvt. Ltd. All references to “CashMyPayment” or “Website” in these Terms of Use include the online portal and associated digital properties.

  • Legal Compliance

    • This document constitutes an electronic record as per the Information Technology Act, 2000 and relevant rules. It does not require physical or digital signatures to be valid. These Terms of Use are published in compliance with Rule 3(1) of the Information Technology (Intermediaries Guidelines) Rules, 2011, ensuring users are informed of the rules, regulations, privacy policy, and terms of usage.

  • Changes to Terms

    • CashMyPayment reserves the right to amend these Terms of Use at any time. Changes will take effect from the moment they are posted on the website. By continuing to use the platform after modifications, you accept the revised terms.

Customer Eligibility

  • Legal Capacity
    • Use of this website is restricted to individuals who can form legally binding contracts under the Indian Contract Act, 1872. Persons deemed “incompetent to contract” (e.g., minors, un-discharged insolvents) are not eligible to use the platform.

    • If you are under 18 years of age, you are strictly prohibited from registering or transacting on this website.

  • Right to Refuse Access

    • CashMyPayment reserves the right to terminate any membership or deny access to users found violating the eligibility criteria, including those under the age of 18.

  • Declaration of Eligibility
    • By accepting these Terms of Use, you declare that:
      • You are 18 years or older.
      • You are capable of entering into legally binding agreements.
      • Your acceptance constitutes a valid contract between you and CashMyPayment, as per applicable laws.
  • Banking Requirements
    • To use the platform, users must have:
      • A rupee-denominated savings or current account with an Indian bank.
      • A valid Permanent Account Number (PAN) issued by the Indian Income Tax Department.
  • Acknowledgment of Risk
    • By agreeing to these Terms of Use, you acknowledge that you understand the potential risks associated with financial transactions, including lending and borrowing, through the platform.
  • Eligibility Criteria for Borrowers
    • To qualify as a borrower on CashMyPayment, the following conditions must be met:
      • General Criteria
        • The user must be a salaried individual residing in India.
        • The user must have been employed continuously for the last six months.
        • The user must not be involved in any civil or criminal litigation.

Sign-Up and Registration

  • Accessing the Website
    • Users can access the CashMyPayment website either as a guest user or a registered user. However, certain sections of the website are reserved exclusively for registered users, and access to these sections may change at the sole discretion of CashMyPayment.
  • Creating an Account
    • Eligible users who wish to register on the website must create an account by filling out the required details accurately. The information provided during registration must be:
      • Complete, up-to-date, and accurate.
      • Provided in accordance with the fields and format prescribed on the website.
  • Device and Usage Data
    • Any communication, messages, or queries sent directly via our website or email, including attachments and other information shared by users.
    • Session details, such as the duration of website visits, pages viewed, referring/exit pages, and clickstream data, used to analyze usage patterns and improve website performance.

By creating an account, users agree to provide accurate details and maintain the integrity of their profile.

  • Authorization for Verification
    • By registering on the website, users explicitly authorize CashMyPayment to perform the following checks and verifications as part of the registration process:
      • Identity Verification: Conduct KYC (Know Your Customer) checks as required by regulatory authorities.
      • Fraud Checks: Validate the authenticity of information to prevent misuse or fraudulent activities.
      • Credit Rating Assessment: Retrieve the user’s credit rating from authorized Credit Information Bureaus.
      • Address and Employment Verification: Verify the user’s residence and/or employment location.
  • Responsibility for Accurate Information
    • If a user provides information that is false, outdated, or incomplete, or if CashMyPayment reasonably believes that such information is inaccurate or misleading, the platform reserves the right to:
      • Suspend or terminate the user’s account.
      • Restrict or deny access to the website, either partially or entirely.

Users are encouraged to ensure their information remains accurate and updated to avoid disruptions in service.

  • Collection and Use of Personal Information
    • Users may be required to provide personal information during the registration process. By doing so, users expressly permit CashMyPayment to:
      • Access, collect, and retain their personal information.
      • Use the provided information in accordance with the Privacy Policy.

The privacy and security of user information are paramount, and all data will be handled in compliance with applicable regulations and the platform’s privacy policy.

  • Registration Fee
    • CashMyPayment does not charge a registration fee for users wishing to sign up as borrowers on the platform. The registration process is completely free of charge.

Use of Website

  • Accessing the Platform
    • To borrow funds or utilize any services offered by CashMyPayment, users must log into their registered accounts. Guest users may explore limited features on the website but cannot access services such as loan applications or account-specific functionalities. Registered users have full access to all sections of the platform.
  • User Responsibility for Account Activity
    • Users are solely responsible for all activities conducted through their registered accounts. CashMyPayment cannot be held liable for any unauthorized or illegal activity, including but not limited to:
      • Misuse of the account by unauthorized individuals.
      • Breaches caused by insufficient account security.

Users are advised to adopt secure practices, including creating strong passwords and avoiding sharing credentials with others.

  • Regulatory Compliance and Legal Obligation
    • Before proceeding with loan applications, all users are provided with a comprehensive Loan Agreement that outlines the terms and conditions of borrowing. By agreeing to these terms, users confirm that they have read, understood, and accepted all clauses in the Loan Agreement. Once the agreement is executed, users agree to comply with all terms without dispute or objection.
  • Reporting Unauthorized Access or Misuse
    • If users detect or suspect unauthorized access, hacking attempts, or misuse of their accounts, they are required to immediately notify CashMyPayment’s customer service team. Early reporting helps mitigate risks and prevents potential harm.
  • Refusal of Instructions
    • CashMyPayment reserves the right to refuse any user instruction if:
      • The instruction is unclear, ambiguous, or incomplete.
      • It appears to have been issued fraudulently or without authorization.
      • Acting on the instruction could breach legal or regulatory obligations.

The platform prioritizes maintaining a secure environment for all users and retains sole discretion in refusing such instructions.

  • Liability and Waiver of Claims
    • CashMyPayment strives to maintain the platform’s security and reliability. However, the website disclaims all liability for claims arising from:
      • Unauthorized or unlawful usage of the platform.
      • Misuse of user data by external parties.
      • Technical downtime, outages, or maintenance-related inaccessibility.

Users acknowledge that certain circumstances beyond the platform’s control may affect accessibility or functionality, and waive any claims or liabilities arising from such events.

  • Maintenance and Temporary Downtime
    • To ensure optimal performance, the platform may undergo periodic maintenance or updates, which could result in temporary downtime. Users will be notified of scheduled maintenance whenever feasible. CashMyPayment will not be held liable for any losses incurred during these periods of inaccessibility.
  • User License for Website Access
    • CashMyPayment grants users a limited, revocable, and non-exclusive license to access and use the platform for personal purposes. This license is contingent upon users adhering to the Terms and Conditions. Unauthorized use, including attempts to bypass security measures or engage in prohibited activities, will result in the termination of access.
  • User Responsibilities for Access Requirements
    • Users are solely responsible for ensuring that they have the necessary tools and services to access the website. This includes:
      • An active internet connection (fees for which are borne by the user).
      • Compatible hardware and software.

Users must not attempt to bypass or interfere with security protocols implemented by CashMyPayment.

  • Restrictions on Unauthorized Use
    • Unauthorized activities that violate the platform’s terms include:
      • Trading, selling, or sharing account details.
      • Using automated tools like bots to scrape or extract data.
      • Engaging in any activity that disrupts website functionality or places an unreasonable load on the platform’s infrastructure.

Violating these restrictions will result in the immediate termination of account access.

  • Intellectual Property and Content Usage
    • The content on CashMyPayment’s website, including text, images, and software, is protected by intellectual property laws. Users must not:
      • Download, copy, or modify content for commercial purposes.
      • Publish or distribute website materials without explicit permission.
      • Create derivative works, reverse engineer, or attempt to exploit the website’s content or functionality.
  • Prohibited Uploads and Malware Risks
    • Users must not upload or share content that:
      • Contains harmful software like viruses or malware.
      • Violates intellectual property rights or contains unauthorized materials.

Any such uploads are strictly prohibited and may lead to account termination and legal action.

  • Termination of Access
    • CashMyPayment reserves the right to:
      • Refuse or cancel user registrations.
      • Remove or ban users who violate the Terms and Conditions.
      • Terminate access at any time without prior notice.

This right is exercised at the sole discretion of CashMyPayment to ensure the safety and integrity of the platform.

Terms, Conditions, and Process for Lending

  • Borrower Selection by Lenders
    • Lenders registered on the CashMyPayment platform can browse and select one or more borrower profiles for lending. Borrower profiles are listed on the website, providing lenders with sufficient information to make informed decisions about their lending preferences.
  • Lending Commitment
    • By registering as a lender, the user agrees to initiate their first loan transaction within 30 days of registration. This commitment ensures active participation in the lending process and facilitates seamless interaction between borrowers and lenders on the platform.
  • Transfer of Lending Amount
    • Once a lender selects a borrower, the lender must transfer the lending amount (the “Lending Amount”) to an Escrow Account using RTGS/NEFT from their bank account. This ensures that all transactions are secure, transparent, and compliant with regulatory requirements.
  • Reflecting Lending Amount in CashMyPayment Account
    • After the successful transfer of funds to the Escrow Account and confirmation of receipt by CashMyPayment:
      • The Lending Amount will be credited to the lender’s CashMyPayment account within hours during business days subject to eligibility.
      • Transfers made after cut-off times or on public holidays will be reflected on the next working day.
  • Confirmation of Borrower Selection
    • When the lender finalizes the selection of borrowers (“Selected Borrowers”) and confirms the lending amount, an equivalent amount is credited to the lender’s CashMyPayment account for subsequent disbursement to the borrower.
  • Loan Agreement Execution
    • Before funds are disbursed, the lender and the selected borrower must sign a Loan Agreement. This agreement:
      • Legally binds both parties to the terms of the loan.
      • Ensures compliance with applicable lending regulations.
      • Details key terms such as the loan amount, repayment schedule, and applicable fees or charges.
  • Disbursement of Funds to Borrower
    • Upon execution of the Loan Agreement, the approved loan amount is transferred directly from the Escrow Account to the selected borrower’s account. CashMyPayment ensures that all transactions are processed securely and efficiently.
  • Charges and Fees
    • Facilitation Fee: A facilitation fee is charged to the lender only when EMIs are successfully received. This ensures a performance-based fee structure that aligns with the lender’s earnings.
    • Fee Revisions: CashMyPayment reserves the right to revise fees or charges periodically. Any updates to the fee structure will be communicated to lenders via email, SMS, or push notifications, ensuring transparency and clarity.

Terms and Conditions for Borrowing

  • Borrower Eligibility and Initiation of Loan Requests
    • Borrowers wishing to utilize the CashMyPayment platform can post their loan requirements through their registered accounts. The process involves submitting a detailed application, which includes providing accurate information about their financial status, loan requirements, and repayment capabilities. Completing this application is essential to ensure eligibility and accurate evaluation by lenders.
  • Mandatory Bank Account Registration
    • During the registration process, borrowers must link a valid and active bank account. This account will serve as the primary medium for loan disbursements and EMI repayments. It is the borrower’s responsibility to ensure that the registered account remains active and updated to facilitate seamless financial transactions.
  • Borrower’s Commitments and Responsibilities
    • By posting a loan request, borrowers explicitly agree to adhere to the following terms:
      • Provision of Accurate Information: Borrowers must ensure that all details provided during registration and loan application are truthful, up-to-date, and complete. If discrepancies or inaccuracies are discovered, CashMyPayment reserves the right to void the loan request and take necessary actions, including barring the borrower from the platform.
      • Credit Assessment Authorization: Borrowers authorize CashMyPayment to retrieve their credit score and related information from recognized Credit Information Bureaus in India. This data is vital for assessing the borrower’s credibility and repayment capacity.
      • Acknowledgment of Financial Associations: Borrowers understand that their credit records may reflect financial associations, such as joint accounts or shared liabilities. This information will be considered during the credit evaluation process.
      • Consent for Data Sharing: Borrowers must provide explicit consent for CashMyPayment to obtain and utilize their Credit Information Report and Credit Score. The consent statement reads:
      • “I hereby give my free consent and authorize CashMyPayment and its service provider to obtain my Credit Information Report and Credit Score from CIBIL or Equifax Credit Information Services Pvt. Ltd. for the purpose of risk assessment and credit underwriting, and not for any other purposes.”
      • Acceptance of Loan Offers: Borrowers agree to accept loan offers from lenders that meet their requested criteria.
  • Co-Signer Requirements
    • In cases where a borrower’s profile requires additional credibility, CashMyPayment may request the borrower to arrange for a co-signer. This condition ensures added security for lenders and reduces lending risks. If the borrower fails to provide a co-signer, CashMyPayment reserves the right to reject the loan application.
  • Formation and Execution of Loan Agreements
    • Borrowers must accept loan offers that align with their specified borrowing needs.
    • Before funds are disbursed, borrowers are required to sign a legally binding Loan Agreement electronically or physically. This agreement details all terms, including repayment schedules, interest rates, and applicable fees.
    • For borrowers availing multiple loans, CashMyPayment provides a consolidated summary of all loan agreements within the borrower’s dashboard for easy reference.
  • Disbursement of Loan Amounts
    • Once the borrower fulfills all conditions for loan approval, including signing the Loan Agreement, the disbursement process begins. Key highlights include:
      • Loan amounts are credited directly to the borrower’s registered bank account after deducting applicable fees.
      • The platform adopts a rounding-down approach for simplicity. For instance, if the disbursement amount is ₹9,411.18 after deductions, ₹9,411 will be credited to the borrower’s account, and ₹0.18 will be retained as an adjustment amount.
  • Charges and Fees for Borrowing
    • CashMyPayment applies specific fees to borrowers for loan processing, repayment, and other related services. These charges are detailed below to maintain transparency:
      • Loan Processing Charges: A one-time, non-refundable processing fee is applied for every approved loan. This fee is deducted from the sanctioned loan amount before disbursement.

Additional Charges:

    • GAP Interest: Charged when applicable, depending on the borrower’s profile and loan terms.
    • Tracing Charges: ₹300. Applicable if the borrower’s provided address is invalid, and CashMyPayment must locate the borrower at a new address.
    • No-Response Fee: ₹300. Charged if the borrower fails to respond to communications for 15 consecutive days while in arrears.
    • Recollection Fee: ₹300. Levied if a recovery agent is required to visit the borrower’s residence or workplace to collect overdue EMIs.
    • Change of Repayment Date: ₹300. Applicable for requests to modify EMI repayment dates.
    • Change of Nominated Account: ₹300. Charged for switching the bank account used for EMI repayments.
    • Litigation Costs: If legal action becomes necessary for recovery, the borrower must bear all associated costs, including attorney fees.
  • Late Payment Fees

    • Borrowers delaying repayments are subject to late payment penalties. These fees vary based on the loan amount and the duration of the delay:

Loan Amount : ₹1,00,000

  • 7 days: ₹750
  • 14 days: ₹1,500
  • 21 days: ₹2,250
  • 28+ days: ₹3,000 + 2% penal interest per month on the overdue amount.

These penalties are split between lenders and CashMyPayment. The distribution ratio is subject to updates, communicated via email or SMS.

  • Loan Cancellation Charges
    • If cancelled by the borrower: ₹1,000.
    • If cancelled by the lender: ₹1,000.
  • Stamp Duty and Document Costs
    • All costs associated with stamp duty and loan documentation must be borne by the borrower.

Settlement of Payment

  • Collection and Allocation of Borrower Payments
    • All payments made by borrowers, including EMIs, late fees, penal charges, or any other applicable charges, are deposited into designated Escrow Accounts maintained by CashMyPayment. This ensures secure handling and transparent tracking of transactions.
  • Credit to Lender Accounts
    • Payments received from borrowers are recorded as credits to the respective lenders’ CashMyPayment accounts. Lenders can log in to their accounts to monitor these transactions in real-time.
  • Transfer of Collected Repayments
    • Collected repayments are credited to the lenders’ accounts within three days of receipt from borrowers. Key highlights include:
      • Notification: Lenders receive notifications once repayments are reflected in their CashMyPayment accounts.
      • Withdrawal Options: Lenders may withdraw funds to their registered bank accounts by submitting a withdrawal request to CashMyPayment. However, no interest is earned on funds held within the CashMyPayment account.
      • Processing Timelines: For example, if a borrower pays their EMI on the 2nd of a month, the amount is transferred to the lender’s account by the 5th of the same month.
  • Borrower Repayment Mechanics
    • Repayments are made directly from the borrower’s registered bank account, ensuring a seamless and automated process. Specific rules include:
      • Rounding Up: Borrowers’ repayment amounts are rounded up to the nearest whole number. For example, a calculated EMI of ₹3,633.4 will be rounded to ₹3,634, which the borrower must pay.
      • Rounding Down for Lenders: When crediting lenders, amounts are rounded down to two decimal places. For example, if ₹180.1442 is to be credited, the lender will receive ₹180.14.
  • Residual Amounts and Adjustments
    • Any residual amount resulting from rounding differences (e.g., ₹0.0042) will be transferred to CashMyPayment as an adjustment amount. This ensures consistency and transparency in financial calculations.

Loan Administration

  • EMI Start Date

    • Borrowers’ EMIs begin from the date of loan disbursement. Lenders, in turn, start earning interest either five days after their investment in the loan or from the date of loan disbursement, whichever is earlier.
  • Prepayment Terms
    • Borrowers are allowed to prepay their loans without incurring any prepayment charges. Prepayment rules include:
    • If Three or More EMIs are Paid: The borrower must repay the outstanding principal amount along with accrued interest up to the prepayment date.
    • If Fewer Than Three EMIs are Paid: The borrower is liable to pay the full interest amount equivalent to the first three EMIs, along with the outstanding principal.

Borrowers must notify CashMyPayment of their intention to prepay by sending an email to info@CashMyPayment.com.

  • Missed Repayments
    • Borrowers unable to make repayments as per the schedule should immediately inform CashMyPayment via email at info@CashMyPayment.com. Upon notification, the following steps will be taken:
      • Explanation of Consequences: Borrowers will be informed about applicable delay charges and available options.
      • Lender Notification: Relevant lenders will be updated regarding the borrower’s missed repayment.
      • Escalation for Recovery: Borrowers may be referred to the internal recovery team for legal action if their account is classified under the default category.
      • Credit Reporting: Borrower defaults are reported to Credit Information Bureaus. This can adversely impact the borrower’s ability to secure future credit.
  • Default Classification
    • A borrower is classified as a “default” under the following circumstances:
      • Failure to repay EMIs for three consecutive months.
      • Confirmation of the borrower’s demise.
      • Entry into a terminal arrangement that affects the borrower’s Loan Agreement.
      • Other specific scenarios deemed appropriate by CashMyPayment.

CashMyPayment reserves the right to make final determinations regarding default classifications.

  • Repayment Date Modifications
    • Borrowers who wish to change their EMI repayment date must formally request a date modification. Such changes will be processed at the discretion of CashMyPayment and may incur a nominal administrative fee.

Closing Your Loan Account

  • Voluntary Closure of Loan Account
    • CashMyPayment does not knowingly collect personal information from individuals under the age of 13. If you believe that we have collected such information from a child, please contact us immediately to ensure that the data is removed.
  • Account Termination Due to False Information or Breach
    • CashMyPayment reserves the right to terminate a borrower’s loan account under the following circumstances:
      • If the borrower provides false or misleading information during registration or loan processing.
      • If the borrower violates any terms of use or fails to adhere to the platform’s policies.
      • If the platform receives verified confirmation of the borrower’s death.
  • Account Termination for Fraudulent Activity
    • Accounts may also be terminated if the borrower is found to:
      • Engage in fraudulent activities that compromise the platform’s reputation or operations.
      • Participate in actions deemed harmful to the interests of CashMyPayment or its stakeholders.

CashMyPayment retains the sole discretion to determine and act upon such instances of misconduct.

Data Protection and Privacy

  • Service Communications
    • Registered users will receive essential service communications on their registered mobile numbers and email IDs. These notifications include updates related to loan status, EMIs, and other critical service-related information. As these communications are vital for service continuity, they cannot be opted out of.
  • Occasional Updates and Marketing Preferences
    • When registering with CashMyPayment, users can choose whether they wish to receive occasional updates, promotional offers, or company announcements. This choice will be governed by the user’s explicit consent, ensuring adherence to privacy preferences.

Use of Content

  • Prohibited Activities
    • Users of CashMyPayment must not host, display, upload, or share content on the platform that:
      • Belongs to another person without proper authorization.
      • Is defamatory, obscene, harassing, or otherwise harmful to individuals or groups.
      • Contains elements that are racially, ethnically, or politically offensive.
      • Promotes illegal activities, money laundering, or gambling.
      • Encourages harm to minors or violates their rights.
  • Security and Integrity
    • Users must refrain from activities that compromise the platform’s security or disrupt its functionality. Prohibited actions include:
      • Attempting to gain unauthorized access to accounts, servers, or networks connected to the website.
      • Uploading files containing viruses, malware, or harmful software.
      • Disrupting services through unauthorized means such as hacking or phishing.
      • Scanning, probing, or testing the vulnerability of the website’s systems or networks.
  • Legal and Regulatory Compliance
    • Users are strictly prohibited from uploading, sharing, or transmitting content that:
      • Violates intellectual property rights, including copyrights, trademarks, or patents.
      • Threatens the sovereignty, integrity, or security of India.
      • Falsifies information, such as altering author attributions or proprietary notices.
      • Breaches applicable laws or regulations, whether within or outside India.
  • Ethical Conduct Guidelines
    • CashMyPayment requires users to adhere to high standards of ethical conduct while engaging with the platform. Users must avoid:
      • Impersonating individuals or entities.
      • Misrepresenting affiliations with persons or organizations.
      • Engaging in activities intended to deceive or mislead others.
      • Violating any applicable code of conduct for services provided through the platform.

Intellectual Property Rights

  • Definition of Intellectual Property Rights (IPR)
    • Intellectual Property Rights (IPR), as outlined in these Terms of Use, include copyrights (whether registered or not), patents, trademarks, trade names, designs, geographical indicators, and other related rights. This also extends to moral rights, broadcasting rights, display rights, distribution rights, performing rights, adaptation rights, communication rights, and any other rights related to the website’s content. This includes all text, graphics, audio, visual content, user interfaces, software, and other proprietary materials related to the CashMyPayment platform.
  • Ownership of Intellectual Property
    • All IPR associated with the website is the exclusive property of CashMyPayment or its third-party licensors, suppliers, and partners. By accessing and using this platform, Users acknowledge that they do not hold any ownership rights to these materials and agree not to infringe upon the IPR. Unauthorized use of IPR may lead to legal action, including but not limited to claims for damages and cessation of access.
    • The IPR associated with the domain name and other online assets owned by CashMyPayment remains under the full control of the platform or its legitimate owners. No rights to use, reproduce, distribute, or modify these IPR are granted to the User, except as explicitly authorized.
  • Domain-Specific Intellectual Property
    • The domain www.cashmypayment.com and any associated rights, including domain names and Internet-related intellectual property, are exclusively owned by CashMyPayment. These rights will not be transferred to the User. The User acknowledges that any content, domain names, or digital assets related to the platform fall under CashMyPayment’s ownership.
  • Non-Transferability of IPR
    • CashMyPayment and its partners retain the exclusive ownership of all intellectual property. This includes any rights or new IPR arising during the use of the platform. Users understand that they are not acquiring any rights to the IPR. Any intellectual property generated through the use of CashMyPayment’s services or platform belongs solely to the platform or its licensors.
  • Restrictions on Use of IPR
    • Users are prohibited from:
      • Copying, reproducing, translating, or distributing any content, materials, or intellectual property found on the website unless expressly authorized by CashMyPayment or relevant third-party owners.
      • Modifying, adapting, displaying, or publishing any of the IPR for any purpose, including personal or commercial gain, without prior written consent.
      • Creating derivative works or reverse engineering any software or content owned by CashMyPayment.

Any violation of these restrictions will be considered a breach of these Terms of Use and may result in immediate suspension or termination of access to the platform and legal action.

Indemnity

  • Scope of Indemnity
    • By using the CashMyPayment platform, Users agree to indemnify and hold harmless CashMyPayment and its affiliates, subsidiaries, partners, suppliers, and service providers (referred to collectively as “indemnified parties”). This indemnity covers any and all claims, losses, liabilities, costs, damages, or expenses (including legal fees) arising from:
      • The User’s breach of these Terms of Use.
      • Any third-party claims related to the User’s use of the platform.
      • Claims arising from the User’s infringement of any third-party intellectual property or proprietary rights.
      • Violations of any applicable laws or rights, including intellectual property rights, caused by the User.
  • Notification and Consultation of Claims
    • In the event of a claim requiring indemnification, CashMyPayment will notify the User. Upon receiving such a notification, the User is obligated to:
      • Engage in consultations with CashMyPayment regarding how to handle the claim.
      • Ensure that any actions taken comply with legal guidelines and that the platform is kept informed of any developments.

This process is necessary to ensure that the indemnity is handled appropriately and that all parties involved are properly represented.

  • Prohibition on Settling Claims Without Consent
    • The User agrees not to settle or compromise any claim without CashMyPayment’s prior written consent. CashMyPayment reserves the right to deny or impose conditions on such consent, ensuring that the platform’s interests are protected.
  • Limitation of Liability
    • Notwithstanding any other provisions in these Terms of Use, CashMyPayment and its subsidiaries, officers, directors, employees, and suppliers shall not be held liable for any special, incidental, consequential, or punitive damages arising out of the User’s use of the platform. This includes, but is not limited to, any loss of profits, data, or other financial losses, whether or not CashMyPayment was informed of the possibility of such damages.
    • This limitation of liability applies whether the claim arises from breach of contract, warranty, negligence, or any other legal theory.

Report Abuse and Take Down Policy

  • Objectionable Content Removal
    • If CashMyPayment or any user identifies objectionable content on the website, including but not limited to privacy violations, misuse of personal information, or infringement of intellectual property rights (IPR), such content will be removed promptly. This action may be taken without prior notice, either by the platform or upon receiving a complaint from any user. The aim is to maintain the integrity of the website and to protect users’ rights in compliance with the Terms of Use.
  • Reporting Procedure
    • If you encounter objectionable content or wish to report a violation of privacy or IPR, please contact CashMyPayment immediately at info@cashmypayment.com. We take all reports seriously and will ensure that any inappropriate material is investigated and removed promptly.
  • Handling Profanity and Unacceptable Communication
    • If any comments, feedback, or email communications between users or between a user and CashMyPayment contain inappropriate language or profanity, a formal request for removal can be made. Such behavior may result in disciplinary actions, including:
      • Indefinite suspension of the user’s account
      • Temporary suspension
      • Formal warning

The platform reserves the right to take action against any user who violates the communication policy or engages in inappropriate behavior.

  • Policy Violation Actions
    • CashMyPayment will assess the circumstances surrounding any alleged violations of the policy, including a user’s trading history and account activity. Based on this evaluation, actions that may be taken include:
      • Limiting account privileges
      • Revoking special status
      • Suspension of account

Users are expected to adhere to these guidelines and communicate respectfully within the platform. Repeated violations can result in the termination of the user’s account.

Feedback and Information

  • Use of Feedback
    • CashMyPayment reserves the right to use any feedback provided by users for the purpose of upgrading or enhancing the website and its services. This feedback can be utilized without restriction, as part of ongoing improvements to the platform. We value your input and strive to integrate suggestions where feasible to improve user experience.
  • Modifications Based on Feedback
    • The website may make modifications or changes to its content, functionality, or user interface based on the feedback received from users. These updates aim to improve the overall service, but users should not expect compensation for suggestions made. Changes are made at the sole discretion of CashMyPayment.
  • Ownership of Feedback
    • By submitting feedback or information to CashMyPayment, users acknowledge that they have no claim or ownership of any intellectual property rights (IPR) arising from any modifications, changes, or enhancements made to the website or its content based on their input. CashMyPayment retains all rights to any changes or updates made to the platform.
  • Warranties on Feedback
    • By providing feedback, the user warrants that:
      • The feedback does not contain confidential or proprietary information belonging to the user or any third party.
      • The user is not entitled to any compensation or reimbursement for their feedback or suggestions under any circumstances.

Any feedback shared with CashMyPayment becomes the property of the company and may be used to enhance the service provided to all users.

Applicable Law

  • These Terms of Use shall be governed by and construed in accordance with the laws of India. Any disputes arising out of or related to the website’s Terms of Use shall fall under the jurisdiction of the courts in Mumbai, India. By using the platform, users consent to the jurisdiction of the Mumbai courts.

Dispute Resolution

  • Amicable Settlement
    • In the event of a dispute arising between CashMyPayment and a user, both parties shall attempt to resolve the matter amicably through dialogue. If an agreement cannot be reached after reasonable efforts (lasting no less than 15 calendar days), either party may give written notice of failure to settle the dispute.
  • Arbitration
    • If the dispute cannot be resolved amicably, it will be referred to a sole arbitrator appointed by CashMyPayment. The arbitration proceedings will be governed by the Indian Arbitration and Conciliation Act, 1996, and will be conducted in Mumbai, India. The language of the proceedings will be English. The arbitration process is meant to provide a final and binding resolution to any disagreements, ensuring that both parties can continue to operate in a legally compliant environment.

Jurisdictional Issues

  • Scope of Service Availability
    • The products and services offered on the CashMyPayment website are intended for use within the territory of India only. The website makes no representation or warranty that the products or services listed are available or suitable for use in any country or jurisdiction outside of India.
  • Limitation of Liability
    • CashMyPayment will not be held responsible or liable for any legal or operational issues arising from the use of the website or its products in locations outside India. Users accessing the website from other countries are doing so at their own risk, and they are responsible for ensuring compliance with local laws regarding financial services.

Buyer Protection Program

  • Filing a Complaint
    • If you have any concerns regarding your Loan Agreement or the services provided by CashMyPayment, you can reach out to us via email at info@cashmypayment.com. Provide a brief description of your complaint, along with your account reference details. Once your complaint is received, CashMyPayment will acknowledge it within one working day. We will then investigate and send you an initial response within five working days.
  • Escalating Complaints
    • If you are not satisfied with the response from the Customer Services Manager, you may escalate your complaint by emailing info@cashmypayment.com with the prior responses included. Your complaint will be referred to our Chief Operating Officer for further review, and you will receive a response within five working days.
    • We are committed to resolving all complaints promptly and ensuring that your experience with CashMyPayment remains positive and efficient.

General Provisions

  • Notice
    • Any notices or communications required under these Terms of Use will be sent to users via email or a general notification on the website. If you need to send any communication to CashMyPayment, please direct it to our grievance officer at info@cashmypayment.com. Please note that it is the user’s responsibility to keep their contact information updated to receive important communications.
  • Assignment
    • These Terms of Use are personal to the user and cannot be assigned or transferred to any other party. However, CashMyPayment may assign or transfer its rights and obligations under these Terms of Use to third parties without the user’s prior consent. This allows us to ensure that our services are delivered effectively, including any changes or updates to the website.
  • Severability
    • If any provision in these Terms of Use is determined to be illegal, invalid, or unenforceable, that provision will be severed from the remaining provisions. The validity of the rest of the Terms of Use will remain intact and enforceable.
  • Waiver
    • Failure or delay by CashMyPayment to enforce any provision of these Terms of Use shall not be construed as a waiver of that provision. A waiver of any provision or right may only be granted in writing by a duly authorized representative of CashMyPayment. Even if we waive one breach, it will not mean we waive any future breaches.
  • Relationship and Exclusivity
    • These Terms of Use do not establish any partnership, joint venture, or agency relationship between CashMyPayment and the user. Neither party shall have any authority to bind the other party, make contracts in the other party’s name, or incur any liabilities or obligations on behalf of the other party. Each party retains its independence in its operations and responsibilities.
  • Force Majeure

    • CashMyPayment shall not be held liable for any failure or delay in performance under these Terms of Use due to reasons beyond its reasonable control. These include, but are not limited to, acts of God, natural disasters, strikes, labor disputes, equipment malfunctions, internet or communication failures, war, terrorism, civil commotion, or any legal requirement imposed by governmental authorities.

    • If any such event occurs, CashMyPayment will be excused from performance for the duration of the force majeure event, and such delay or non-performance will not constitute a breach of its obligations under these Terms of Use. We will take reasonable steps to mitigate any such event’s impact on our services, but we cannot guarantee the resolution of every issue that arises in such situations.

Insurance for Loan or Borrower

  • Availability of Insurance

    • Currently, CashMyPayment does not offer insurance products for loans or borrowers. However, the platform reserves the right to collaborate with any insurance company registered with the Insurance Regulatory and Development Authority of India (IRDA) in the future. If such insurance products become available, users will not be required to give explicit consent for their inclusion, as the website may work directly with authorized insurance providers.

  • Payment of Insurance Premiums

    • In case insurance products are made available, both the Lender and Borrower will have the option to pay the applicable insurance premiums to CashMyPayment. CashMyPayment will then process the payment to the insurance provider on behalf of the user. It will be the responsibility of the website to ensure proper handling and timely payment of premiums, should this service become available.

  • Nominee and Claim Settlement

    • If insurance is offered, CashMyPayment will act as the nominee for the insurance policy. The platform will also be authorized to manage the claims settlement process. Once a claim is processed, any settlement funds will be distributed to the Lender(s) as applicable, with any remaining balance transferred to the Borrower’s bank account. CashMyPayment aims to ensure transparency and efficiency in handling such transactions.

  • Insurance Cancellation Policy

    • In the event that a Borrower consistently fails to make timely repayments, CashMyPayment retains the right to cancel the associated insurance policy. Additionally, the insurance policy will be co-terminus with the loan tenure, meaning it will automatically expire once the loan is fully repaid or at the end of the agreed loan term.

  • Incident Reporting and Claims Process

    • If a Borrower experiences a qualifying incident such as permanent disability or accidental death, the beneficiary or nominee must inform CashMyPayment immediately. The platform will then initiate the claims process on behalf of the beneficiary or nominee, ensuring that all claim procedures are followed in a timely and efficient manner.

Glossary of Terms

  • In these Terms & Conditions, the following terms are defined as:
    • Borrower: Refers to the individual who registers on the website or app to request a loan.
    • Credit Bureau Information: Refers to credit information from CIBIL, Experian, Equifax, and Crif Highmark.
    • Escrow Account: Refers to the bank account of the NBFC (Sawalsha Leasing & Finance Private Limited) for holding funds in trust.
    • Lender: Refers to Sawalsha Leasing & Finance Private Limited, an RBI-registered NBFC, and the lender associated with the loan.
    • CashMyPayment Account: The account created and maintained by users on the CashMyPayment platform.
    • Prohibited Sectors: Refers to any business sector that is prohibited by the Government of India.
    • RBI: Refers to the Reserve Bank of India.
    • Insurance Company: Any company registered with IRDA and authorized to provide insurance services in India.
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