ZING INVESTMENTS PVT LTD ("Lender") is a licensed Non-Banking Financial Company (NBFC) authorized by the Reserve Bank of India (RBI) to provide financial solutions, including personal loans, to individuals through the Loan Bright platform. As the Lender, ZING INVESTMENTS PVT LTD is committed to offering accessible, transparent, and efficient loan services tailored to meet the needs of our customers. Our platform empowers users to apply for, manage, and repay loans with ease, while ensuring compliance with all applicable legal and regulatory requirements. With a focus on customer satisfaction, we strive to provide reliable financial support to help our users achieve their personal and financial goals.
The following definitions apply throughout these Terms of Service to ensure clarity and consistency in understanding:
- "Lender" refers to ZING INVESTMENTS PVT LTD, a registered Non-Banking Financial Company (NBFC) authorized by the Reserve Bank of India to provide loan services through the Loan Bright platform.
- "Loan Bright" / "Platform" refers to the mobile application and its associated services used to apply for, manage, and repay personal loans provided by the Lender.
- "User" / "You" / "Consumer” refers to any individual who registers, applies for, or uses the financial services offered through the Loan Bright platform.
- "Loan" refers to the sum of money disbursed to a User by the Lender under agreed terms including repayment period, interest rate, and applicable fees.
- "Repayment Schedule" refers to the structured timeline for repayment of the loan amount, including due dates, amounts, and frequency of payments.
- "KYC (Know Your Customer)" refers to the process of verifying the identity and financial details of Users as per regulatory requirements, including submission of documents such as Aadhaar card, PAN card, bank statements, etc.
- "Disbursement" means the process of transferring the approved loan amount to the User's registered bank account.
- "Default" refers to the failure to repay the loan in accordance with the agreed repayment schedule.
- "Grievance Redressal Mechanism" refers to the formal process through which Users can raise concerns or complaints regarding the services and expect fair resolution.
At ZING INVESTMENTS PVT LTD , we are committed to safeguarding the rights and interests of our users ("Consumers") in accordance with applicable consumer protection laws. We aim to ensure that all users have access to fair, transparent, and responsible loan services. The following provisions are in place to protect your rights:
I.Transparency and Disclosure: We are dedicated to providing clear and accurate information regarding loan terms, interest rates, repayment schedules, and any associated fees. All relevant details will be provided upfront to help you make informed decisions.
II.Fair Lending Practices: We ensure that loan decisions are made based on a thorough evaluation of your financial situation. We do not engage in predatory lending practices and work to ensure that loans are offered with terms that are reasonable and manageable for you.
III.Privacy and Data Security: We prioritize the protection of your personal and financial information. We adhere to strict data protection measures in accordance with applicable privacy laws to safeguard your personal data from unauthorized access, use, or disclosure.
IV.Dispute Resolution: If you have any concerns or disputes related to our services, we encourage you to contact our customer support team for assistance. In case of unresolved issues, we will guide you through the appropriate grievance redressal mechanism to ensure fair resolution.
To apply for a loan through the Loan Bright platform, you must meet the following eligibility criteria:
You must be at least 18 years old
Indian Resident
Valid Bank Account
Creditworthiness
Identity proof
Loan Bright provides immediate personal loans to qualified users. These loan services are tailored to offer flexible financial support, ensuring rapid access to funds, in accordance with the following terms:
I.Loan Limit: ₹2000 - ₹90000.
II.Loan Term: 180 days.
II.Daily Interest Rate: 0.05%.
III.Maximum Annual Interest Rate (APR): 18.25%.
I. Download and Register:
First, download the Loan Bright app from the App Store. Once installed, create an account by providing your personal information, such as your name, contact details, and identification documents. Ensure the information is accurate to complete the registration.
II. Complete Loan Application:
After logging in, select the loan amount and repayment terms that best suit your needs. You will be prompted to provide additional details, including your income information, employment status, and any other relevant financial details.
III. Submit Documents:
Upload the required documents, such as proof of identity (Aadhar card, passport, etc.), address proof, and income proof (salary slips, bank statements, etc.). These documents will help us assess your eligibility.
IV.Loan Assessment and Approval:
Once you submit your application and documents, the platform will evaluate your application based on your financial details and creditworthiness. This process may take a few minutes to a few hours, depending on your application.
V. Loan Disbursement:
After you accept the loan offer, the funds will be disbursed to your registered bank account.
VI. Repayment:
Once the loan is disbursed, you can begin making repayments according to the agreed schedule. Payments can be made via various methods provided on the platform.
I.Accuracy of Information: You are obligated to provide accurate, complete, and up-to-date information during the application process and while using the app. Any false or misleading information may result in the rejection of your application or termination of your account.
II.Prohibition Against Fraudulent Activity: You must not engage in any fraudulent activities, including but not limited to providing false information, using someone else's identity, or attempting to manipulate the loan approval process. Any such activities will lead to legal action and may result in reporting to authorities.
I. Violation of Terms:
If you fail to comply with the terms, conditions, or policies set forth in this Agreement, including providing false information, engaging in fraudulent activities, or misusing the platform.
II.Non-Payment of Loan:
If you default on your loan repayment schedule or fail to meet your financial obligations under the loan agreement, your account may be terminated.
III.Illegal or Unlawful Activities:
If your use of the Loan Bright platform is deemed to be for illegal, harmful, or unlawful purposes, including money laundering, terrorism financing, or any activity that violates applicable laws.
I.Unauthorized Access: Attempting to access any part of the platform or systems without proper authorization, including unauthorized use of accounts, passwords, or data.
II.Abusive or Harmful Behavior: Engaging in any behavior that harms, disrupts, or interferes with the functioning of the platform, or that causes harm to other users, including spreading malware, viruses, or any form of harmful code.
III.Circumventing Loan Terms: Attempting to manipulate or circumvent the terms and conditions of the loans, including falsifying repayment plans, altering financial details, or misusing the loan services.
IV.Sharing Account Information: Sharing your account credentials or allowing unauthorized third parties to access your account or use the services provided by Loan Bright.
V.Intellectual Property Infringement: Using, copying, or distributing any content from the platform without proper authorization, or infringing upon the intellectual property rights of others.
Loan Bright is committed to protecting your personal information. We collect and store your personal data for the purpose of providing services, processing loan applications, and complying with legal and regulatory requirements.
I.Data Collection: The data collected includes identity information, contact details, income details, and transaction history.
II.Data Protection: We implement strict security measures to safeguard your personal data and ensure it is not disclosed to unauthorized parties.
III.Data Retention: Your personal data will be retained as long as necessary to provide our services or comply with legal obligations.