Wallet Terms & Conditions

Wallet Terms & Conditions (NRB FINANCE)

Effective Date: 29/08/2024
Company: NRB FINANCE, Rajkot – Gujarat
Email: coustmercare@nrbfinance.in

1. Definition

The NRB FINANCE Wallet (“Wallet”) is a digital/prepaid account maintained by the borrower with NRB FINANCE, used only for loan-related transactions (e.g., application fees, repayments, EMIs, penalties).

2. Eligibility

  • Only registered borrowers of NRB FINANCE can maintain a Wallet.

  • Valid KYC and Loan Agreement must be completed before Wallet activation.

3. Loading of Wallet

  • Borrowers can load money into their Wallet via UPI, Bank Transfer, or Cash Deposit.

  • The minimum wallet load amount is ?100.

4. Usage of Wallet

  • Wallet balance can be used only for:

    • Loan application fee (?500)

    • Loan repayments / EMIs

    • Penalties or late fees

  • Wallet balance cannot be withdrawn in cash or transferred to another person.

5. Refund Policy

  • Wallet balance once loaded is non-refundable.

  • If a loan application is rejected, any unutilized wallet balance may be adjusted towards future applications or services.

6. Expiry & Inactivity

  • Wallet balance will remain valid for 12 months from the date of loading.

  • If no transaction is done within 12 months, the balance may expire or be forfeited as per company policy.

7. Fraud & Misuse

  • Any fraudulent activity, misuse, or unauthorized access will result in Wallet suspension and possible legal action.

8. Liability

  • NRB FINANCE is not responsible for delays or failures caused by banking networks, UPI apps, or third-party systems.

9. Termination of Wallet

  • NRB FINANCE reserves the right to deactivate or suspend the Wallet in case of misuse, fraud, or violation of company policies.

10. Governing Law

  • Wallet usage will be governed under the Gujarat Money Lenders Act and applicable Indian financial regulations.

 

 


The Applicant/Customer confirms that he/she has read and understood the terms and conditions of this Policy/Agreement. In case of any difficulty in understanding the contents, the Applicant/Customer shall immediately contact NRB FINANCE during the loan application process for necessary clarification. NRB FINANCE shall not be held liable for any misunderstanding if the Applicant/Customer fails to seek clarification before proceeding with the loan process.