Terms of Service | Whizdm Innovations Private Limited

Terms of Service | Whizdm Innovations Private Limited

Mar 21, 2024

15 Mins

Whizdm Innovations Private Limited, an Indian company with its registered office located at Survey No. 17, 1A, Outer Ring Rd, Kadubeesanahalli, Bellandur, Bengaluru, Karnataka – 560087 (referred to as the “Company”, “We”, “Us”, “Our”) has developed and owns a mobile personal finance software application called “moneyview Personal Loan App” (“App”, including future releases). The Company provides the App for download and use on mobile phones to end-users (referred to as “User”, “You”, “Your”) subject to these Terms of Service.

The Company also operates the website www.moneyview.in (“Website”) for marketing and information purposes only. Please note that the Company does not use the Website for any other purpose than those stated. The App and the Website are collectively referred to as the “Platform”.

The terms and conditions outlined in this article, as well as the terms and conditions of the Website, are hereinafter referred to as the “Terms”.

These Terms create a binding contract between the Company and You when You download or use the Platform. By downloading and installing the Platform, You are considered to have read, understood, and accepted these Terms. Along with the Privacy Policy, these Terms encompass all rights, obligations, and remedies related to Your use of the Platform.

If You do not agree with these Terms, You must not proceed to download the Platform.

In addition to any specific requirements outlined in these Terms, Your use of the Platform signifies that You are above 18 years of age, or possess legal parental or guardian consent, and have the ability to enter into and comply with these Terms.

THE COMPANY IS NOT A LENDER AND DOES NOT PROVIDE LOANS OR OTHER CREDIT FACILITIES. THE COMPANY OPERATES THE APP TO FACILITATE YOUR APPLICATION FOR CREDIT FACILITIES.

Please read these Terms in their entirety.

I. Description of the App

The Company owns and operates the App, which facilitates the provision of Services as outlined below.

The Company is a private limited company registered under the Companies Act, 2013. The Company acts as an intermediary and does not directly provide financial services to Users. It is not registered with the Reserve Bank of India or classified as a Financial Institution under any applicable laws in India. The Company is not a deposit-taking company, chit fund, or a company offering investment schemes.

II. Applicability of the Terms

1. By downloading, installing, using, and accessing the Platform in any manner, You unconditionally consent to:

- These Terms, including the introductory paragraphs titled “IMPORTANT”.

- The “Privacy Policy”, which is available on the Platform and incorporated herein. Click here to view the Privacy Policy.

- Any other notices, disclaimers, policies, or terms of use, regardless of name, that may apply to the use of the Platform from time to time.

2. These Terms may be amended by the Company at any time. All amended Terms shall be binding on You once made available on the Platform. If You do not agree with any modifications, Your only remedy is to terminate Your use of the Platform without any liability to the Company. However, if You have already availed any Services, the modified terms shall continue to apply to such Services.

3. While the Company may attempt to notify You of major changes to these Terms, it is ultimately Your responsibility to read and understand the most up-to-date version on the Platform. These Terms do not confer any third-party rights or benefits.

III. Account

If You wish to use the App, You are required to create an account with the Company and provide certain information, including Your name, email address, contact number, and any other necessary details. It is Your responsibility to maintain the confidentiality and security of Your account and password, and to restrict access to Your computer to prevent unauthorized use. You are also responsible for all activities that occur under Your account. If You believe Your password has been compromised, You must notify Us immediately. You must keep Your account information accurate and up-to-date. Failure to do so may result in termination or suspension of Your account. Use of the App is personal and non-transferable.

You must comply with these Terms and any breach may result in termination of Your account and legal consequences in accordance with Indian laws.

IV. Services

The Company offers the following services through the App ("Services”):

1. Digital Savings Bank Account:

1.1 The App allows You to open a savings bank account (“SB Account”) with RBI licensed banks partnered with the Company ("Partner Bank”). You can also transact using the SB Account and view account statements through the App.

1.2 Please note that the Company is only an intermediary providing a technology interface for You to open and operate an SB Account with a Partner Bank. The Company does not have access to Your SB Account or the funds therein.

1.3 You must accept and adhere to the terms and conditions specified by the Partner Bank for using the SB Account. You can access the Partner Bank's terms and conditions [here].

2. Pro-Saver Account (FD & OD Facility Product):

2.1 The Pro-Saver Account is a product offered by the Partner Bank. Funds available in the Pro-Saver Account, once the balance reaches or exceeds a specified threshold communicated by the Partner Bank, are automatically transferred to create a fixed deposit (FD) ("Pro-Saver Account”).

2.2 To be eligible for a Pro-Saver Account, You must open an SB Account with the same Partner Bank. The terms and conditions of the Partner Bank that apply to the SB Account also apply to the Pro-Saver Account.

2.3 Funds are only transferred from the Pro-Saver Account to create FDs when the balance is equal to or exceeds the specified threshold. If the balance is below the threshold, funds are not utilized to create an FD.

2.4 Multiple FDs may be created by the Partner Bank and linked to the same Pro-Saver Account. The App reflects the aggregate amounts of all FDs held by the User.

2.5 The interest rate applicable to the FDs depends on the tenor and the terms and conditions set by the Partner Bank. The interest rate is displayed in a consolidated manner in XIRR format.

2.6 For eligible users, an overdraft facility (OD) is available based on the FDs created. The OD limit is determined by the Partner Bank and may be modified at their discretion. Users can transfer amounts from the OD facility to other accounts through the App.

2.7 Cashback offers may be available to Pro-Saver Account users, subject to applicable terms and conditions specified by the Company.

Eligibility criteria and additional details for availing these services can be found in the respective sections of the App.

V. Insurance

The Company does not sell or solicit insurance products. It does not act as an insurance intermediary and is not licensed to sell insurance. The Company provides a distribution platform for insurance companies, intermediaries, and other third-party partners to advertise their products. The Company does not endorse any insurance product advertised on the Platform. Purchase of insurance products is subject to the terms and conditions communicated by the insurance company or the intermediary. The Company is not responsible for any claims or disputes related to insurance products, and all such claims or disputes shall be governed by the terms and conditions of the insurance product.

VI. Rewards and Benefits

The Company may provide benefits, cashbacks, or other incentives to users based on its sole discretion and subject to specified terms and conditions. Various schemes, such as referral programs and cashback offers, may also be available to users.

VII. User Obligations

1. Users shall use the Platform solely as end users.

2. Users shall comply with all applicable laws when using the Platform.

3. Users shall not interfere with or disable security features of the Platform or perform any actions that violate the terms of use or restrict access to the Platform.

4. Users shall not use the Platform for fraudulent, illegal, or unlawful purposes. Users shall not post or transmit any unlawful, defamatory, obscene, or offensive material on the Platform.

5. The Company does not guarantee the accuracy or endorse any third-party information, products, or services advertised on the Platform.

6. Users must not use the Platform or SB Account for unauthorized purposes.

7. Users must make use of the Platform responsibly and lawfully.

8. Users are responsible for updating the App and ensuring compatibility with their preferred bank account.

9. Users are granted a limited license to access and use the Platform for personal use only. Unauthorized use of the Platform is prohibited.

10. The Company is not responsible for any delays or failures due to infrastructure issues.

11. Technology regulations may require modifications of the Services or App. Users understand that such changes may render certain features unusable, and the Company cannot be held liable for this.

12. Users shall not take any action that causes a loss to the Company.

VIII. Consideration and Payment Terms

Currently, the Company does not charge any fees for the Services provided through the App. However, the Company reserves the right to introduce subscription fees in the future. Notice will be provided at least 30 days prior to the implementation of any subscription fees.

IX. Termination and Suspension

The Company may terminate Your use of the App at any time with or without notice and for any reason without incurring liability. The Company also reserves the right to block, restrict, disable, or suspend Your access to the Platform at any time without prior notice or liability.

Termination of Your account does not release You from any obligations under these Terms or any separate loan agreements.

X. Other Disclaimers

To the fullest extent permitted by law, the Company and its partners disclaim all warranties, statutory, express or implied, regarding the accuracy, reliability, and functionality of the Platform. The Company does not guarantee uninterrupted access or error-free performance. Use of the Platform is at Your own risk.

The Company is not liable for any damages or losses resulting from Your use of the Platform, unless otherwise provided by applicable law.

The Company does not endorse or guarantee any third-party products or services advertised on the Platform.

XI. Intellectual Property

The Company and its licensors own all rights to the Platform, including copyrights, trademarks, and other intellectual property rights. Users are granted a limited, non-transferrable license to access and use the Platform for personal use only. Unauthorized copying, distribution, or exploitation of the Platform's content or features is prohibited.

XII. Consents

By using the App, You consent to the Lenders retrieving Your credit score from third-party providers for evaluating Your eligibility for Credit Facilities. You also authorize the Company to initiate Your application through an online prefill product provided by TransUnion CIBIL, based on the name and mobile number submitted by You.

XIII. Limitation of Liability

In no event shall the Company be liable for any direct, indirect, incidental, consequential, or exemplary damages arising from Your use of the Platform, failure to avail a product, or interactions with other users. The Company does not guarantee or endorse the financial products provided by Lenders. The Company's liability is limited to the provision of Services, and the terms and conditions of the loan agreements executed with Lenders shall govern any obligations or liabilities related to Credit Facilities.

XIV. Indemnity

Users agree to defend, indemnify, and hold harmless the Company from any claims, damages, losses, liabilities, costs, or expenses arising from their use of the Platform or any violations of these Terms.

XV. Governing Law and Arbitration

These Terms are governed by the laws of India and any disputes shall be resolved through arbitration in accordance with the Arbitration and Conciliation Act, 1996. The exclusive jurisdiction for any disputes shall be in the courts of Bangalore Urban District.

XVI. Miscellaneous

Notices to the Company must be sent by registered mail or courier to the address provided. Force majeure events may excuse performance of obligations. Severability clauses ensure that if any provision is deemed illegal or unenforceable, the remaining provisions remain valid. No waiver or election of rights is implied by a party's failure or delay in exercising them. Assignment of rights is not permitted. Users may receive promotional and marketing communications through registered email/phone number. Grievance redressal mechanisms are provided.

XVII. Grievance Redressal Mechanism: Digital Lending Platform

The Company has a customer service center to address queries and complaints. If issues are not resolved at this level, a Digital Lending Grievance Redressal Officer is available to handle complaints. Users may also address grievances with specific Lenders through the appropriate channels.

We aim to provide the best customer service and value customer relationships.

Whizdm Innovations Private Limited, an Indian company with its registered office located at Survey No. 17, 1A, Outer Ring Rd, Kadubeesanahalli, Bellandur, Bengaluru, Karnataka – 560087 (referred to as the “Company”, “We”, “Us”, “Our”) has developed and owns a mobile personal finance software application called “moneyview Personal Loan App” (“App”, including future releases). The Company provides the App for download and use on mobile phones to end-users (referred to as “User”, “You”, “Your”) subject to these Terms of Service.

The Company also operates the website www.moneyview.in (“Website”) for marketing and information purposes only. Please note that the Company does not use the Website for any other purpose than those stated. The App and the Website are collectively referred to as the “Platform”.

The terms and conditions outlined in this article, as well as the terms and conditions of the Website, are hereinafter referred to as the “Terms”.

These Terms create a binding contract between the Company and You when You download or use the Platform. By downloading and installing the Platform, You are considered to have read, understood, and accepted these Terms. Along with the Privacy Policy, these Terms encompass all rights, obligations, and remedies related to Your use of the Platform.

If You do not agree with these Terms, You must not proceed to download the Platform.

In addition to any specific requirements outlined in these Terms, Your use of the Platform signifies that You are above 18 years of age, or possess legal parental or guardian consent, and have the ability to enter into and comply with these Terms.

THE COMPANY IS NOT A LENDER AND DOES NOT PROVIDE LOANS OR OTHER CREDIT FACILITIES. THE COMPANY OPERATES THE APP TO FACILITATE YOUR APPLICATION FOR CREDIT FACILITIES.

Please read these Terms in their entirety.

I. Description of the App

The Company owns and operates the App, which facilitates the provision of Services as outlined below.

The Company is a private limited company registered under the Companies Act, 2013. The Company acts as an intermediary and does not directly provide financial services to Users. It is not registered with the Reserve Bank of India or classified as a Financial Institution under any applicable laws in India. The Company is not a deposit-taking company, chit fund, or a company offering investment schemes.

II. Applicability of the Terms

1. By downloading, installing, using, and accessing the Platform in any manner, You unconditionally consent to:

- These Terms, including the introductory paragraphs titled “IMPORTANT”.

- The “Privacy Policy”, which is available on the Platform and incorporated herein. Click here to view the Privacy Policy.

- Any other notices, disclaimers, policies, or terms of use, regardless of name, that may apply to the use of the Platform from time to time.

2. These Terms may be amended by the Company at any time. All amended Terms shall be binding on You once made available on the Platform. If You do not agree with any modifications, Your only remedy is to terminate Your use of the Platform without any liability to the Company. However, if You have already availed any Services, the modified terms shall continue to apply to such Services.

3. While the Company may attempt to notify You of major changes to these Terms, it is ultimately Your responsibility to read and understand the most up-to-date version on the Platform. These Terms do not confer any third-party rights or benefits.

III. Account

If You wish to use the App, You are required to create an account with the Company and provide certain information, including Your name, email address, contact number, and any other necessary details. It is Your responsibility to maintain the confidentiality and security of Your account and password, and to restrict access to Your computer to prevent unauthorized use. You are also responsible for all activities that occur under Your account. If You believe Your password has been compromised, You must notify Us immediately. You must keep Your account information accurate and up-to-date. Failure to do so may result in termination or suspension of Your account. Use of the App is personal and non-transferable.

You must comply with these Terms and any breach may result in termination of Your account and legal consequences in accordance with Indian laws.

IV. Services

The Company offers the following services through the App ("Services”):

1. Digital Savings Bank Account:

1.1 The App allows You to open a savings bank account (“SB Account”) with RBI licensed banks partnered with the Company ("Partner Bank”). You can also transact using the SB Account and view account statements through the App.

1.2 Please note that the Company is only an intermediary providing a technology interface for You to open and operate an SB Account with a Partner Bank. The Company does not have access to Your SB Account or the funds therein.

1.3 You must accept and adhere to the terms and conditions specified by the Partner Bank for using the SB Account. You can access the Partner Bank's terms and conditions [here].

2. Pro-Saver Account (FD & OD Facility Product):

2.1 The Pro-Saver Account is a product offered by the Partner Bank. Funds available in the Pro-Saver Account, once the balance reaches or exceeds a specified threshold communicated by the Partner Bank, are automatically transferred to create a fixed deposit (FD) ("Pro-Saver Account”).

2.2 To be eligible for a Pro-Saver Account, You must open an SB Account with the same Partner Bank. The terms and conditions of the Partner Bank that apply to the SB Account also apply to the Pro-Saver Account.

2.3 Funds are only transferred from the Pro-Saver Account to create FDs when the balance is equal to or exceeds the specified threshold. If the balance is below the threshold, funds are not utilized to create an FD.

2.4 Multiple FDs may be created by the Partner Bank and linked to the same Pro-Saver Account. The App reflects the aggregate amounts of all FDs held by the User.

2.5 The interest rate applicable to the FDs depends on the tenor and the terms and conditions set by the Partner Bank. The interest rate is displayed in a consolidated manner in XIRR format.

2.6 For eligible users, an overdraft facility (OD) is available based on the FDs created. The OD limit is determined by the Partner Bank and may be modified at their discretion. Users can transfer amounts from the OD facility to other accounts through the App.

2.7 Cashback offers may be available to Pro-Saver Account users, subject to applicable terms and conditions specified by the Company.

Eligibility criteria and additional details for availing these services can be found in the respective sections of the App.

V. Insurance

The Company does not sell or solicit insurance products. It does not act as an insurance intermediary and is not licensed to sell insurance. The Company provides a distribution platform for insurance companies, intermediaries, and other third-party partners to advertise their products. The Company does not endorse any insurance product advertised on the Platform. Purchase of insurance products is subject to the terms and conditions communicated by the insurance company or the intermediary. The Company is not responsible for any claims or disputes related to insurance products, and all such claims or disputes shall be governed by the terms and conditions of the insurance product.

VI. Rewards and Benefits

The Company may provide benefits, cashbacks, or other incentives to users based on its sole discretion and subject to specified terms and conditions. Various schemes, such as referral programs and cashback offers, may also be available to users.

VII. User Obligations

1. Users shall use the Platform solely as end users.

2. Users shall comply with all applicable laws when using the Platform.

3. Users shall not interfere with or disable security features of the Platform or perform any actions that violate the terms of use or restrict access to the Platform.

4. Users shall not use the Platform for fraudulent, illegal, or unlawful purposes. Users shall not post or transmit any unlawful, defamatory, obscene, or offensive material on the Platform.

5. The Company does not guarantee the accuracy or endorse any third-party information, products, or services advertised on the Platform.

6. Users must not use the Platform or SB Account for unauthorized purposes.

7. Users must make use of the Platform responsibly and lawfully.

8. Users are responsible for updating the App and ensuring compatibility with their preferred bank account.

9. Users are granted a limited license to access and use the Platform for personal use only. Unauthorized use of the Platform is prohibited.

10. The Company is not responsible for any delays or failures due to infrastructure issues.

11. Technology regulations may require modifications of the Services or App. Users understand that such changes may render certain features unusable, and the Company cannot be held liable for this.

12. Users shall not take any action that causes a loss to the Company.

VIII. Consideration and Payment Terms

Currently, the Company does not charge any fees for the Services provided through the App. However, the Company reserves the right to introduce subscription fees in the future. Notice will be provided at least 30 days prior to the implementation of any subscription fees.

IX. Termination and Suspension

The Company may terminate Your use of the App at any time with or without notice and for any reason without incurring liability. The Company also reserves the right to block, restrict, disable, or suspend Your access to the Platform at any time without prior notice or liability.

Termination of Your account does not release You from any obligations under these Terms or any separate loan agreements.

X. Other Disclaimers

To the fullest extent permitted by law, the Company and its partners disclaim all warranties, statutory, express or implied, regarding the accuracy, reliability, and functionality of the Platform. The Company does not guarantee uninterrupted access or error-free performance. Use of the Platform is at Your own risk.

The Company is not liable for any damages or losses resulting from Your use of the Platform, unless otherwise provided by applicable law.

The Company does not endorse or guarantee any third-party products or services advertised on the Platform.

XI. Intellectual Property

The Company and its licensors own all rights to the Platform, including copyrights, trademarks, and other intellectual property rights. Users are granted a limited, non-transferrable license to access and use the Platform for personal use only. Unauthorized copying, distribution, or exploitation of the Platform's content or features is prohibited.

XII. Consents

By using the App, You consent to the Lenders retrieving Your credit score from third-party providers for evaluating Your eligibility for Credit Facilities. You also authorize the Company to initiate Your application through an online prefill product provided by TransUnion CIBIL, based on the name and mobile number submitted by You.

XIII. Limitation of Liability

In no event shall the Company be liable for any direct, indirect, incidental, consequential, or exemplary damages arising from Your use of the Platform, failure to avail a product, or interactions with other users. The Company does not guarantee or endorse the financial products provided by Lenders. The Company's liability is limited to the provision of Services, and the terms and conditions of the loan agreements executed with Lenders shall govern any obligations or liabilities related to Credit Facilities.

XIV. Indemnity

Users agree to defend, indemnify, and hold harmless the Company from any claims, damages, losses, liabilities, costs, or expenses arising from their use of the Platform or any violations of these Terms.

XV. Governing Law and Arbitration

These Terms are governed by the laws of India and any disputes shall be resolved through arbitration in accordance with the Arbitration and Conciliation Act, 1996. The exclusive jurisdiction for any disputes shall be in the courts of Bangalore Urban District.

XVI. Miscellaneous

Notices to the Company must be sent by registered mail or courier to the address provided. Force majeure events may excuse performance of obligations. Severability clauses ensure that if any provision is deemed illegal or unenforceable, the remaining provisions remain valid. No waiver or election of rights is implied by a party's failure or delay in exercising them. Assignment of rights is not permitted. Users may receive promotional and marketing communications through registered email/phone number. Grievance redressal mechanisms are provided.

XVII. Grievance Redressal Mechanism: Digital Lending Platform

The Company has a customer service center to address queries and complaints. If issues are not resolved at this level, a Digital Lending Grievance Redressal Officer is available to handle complaints. Users may also address grievances with specific Lenders through the appropriate channels.

We aim to provide the best customer service and value customer relationships.

Download App

Explore More

Managing assets totalling over 1 crore+