Terms of Services
Last Updated: 1st January 2025
1. Introduction
Welcome to Teofin, operated by RKG Finvest Limited ("we," "us," or "our"). These Terms of Service ("Terms") govern your access to and use of our platform, which acts as an affiliate to connect users with third-party lenders and financial institutions for personal loans and related financial services. By accessing or using our platform, you agree to be bound by these Terms. If you do not agree, please refrain from using our services.
2. Definitions
In these Terms, "User" or "you" refers to any individual accessing or using our platform. "Platform" refers to Teofin and its website (teofin.com). "Lenders" or "Institutions" refer to third-party financial entities, including RBI-registered Non-Banking Financial Companies (NBFCs) or banks, we partner with to facilitate services.
3. User Registration
Users must register using a valid mobile number verified through a one-time password (OTP). You will provide your full name, email address, and additional details such as full name as per PAN card, date of birth, gender, marital status, father’s name, spouse’s name, address, profession details, KYC documents (e.g., PAN card, Aadhaar card, selfie), and banking details to avail specific services. All information must be accurate, complete, and up-to-date to avoid application rejection or termination of access.
4. Platform Services
Teofin is an affiliate platform that connects users with third-party lenders for personal loans ranging from ₹6,000 to ₹5,00,000, with Annual Percentage Rates (APR) between 10% to 30% p.a., and a repayment tenure of 360 days, subject to eligibility. We do not provide loans or financial products directly. We forward your details to lenders based on your preferences and eligibility. Approval, terms, and disbursal timelines are at the sole discretion of the lender, and RKG Finvest Limited does not guarantee service availability, approval, or specific disbursal timelines, including claims of "fast disbursal" or "quick approval," which are subject to lender processes.
5. Loan Terms and Conditions
- Application Process: To apply for a loan, submit your application via teofin.com with required KYC documents (e.g., PAN card, Aadhaar card, selfie, bank details). Applications are evaluated by third-party lenders based on eligibility, credit score, income, and other criteria determined by the lender.
- Eligibility: You must be at least 21 years old, have a minimum monthly income of ₹15,000, possess a valid credit score, and meet additional lender-specific requirements. Eligibility does not guarantee approval.
- Loan Amount: Loans range from ₹6,000 to ₹5,00,000, subject to lender approval and your credit profile.
- Annual Percentage Rate (APR): APR ranges from 10% to 30% per annum, depending on your eligibility, credit score, and lender policies. The APR includes interest rates and may include additional fees as disclosed by the lender.
- Repayment: Loans are repaid via monthly Equated Monthly Installments (EMIs) over a tenure of 360 days. Late payments may incur penalties or additional fees as per the lender’s terms.
- Fees and Charges: Processing fees (typically 1-3% of loan amount), service charges, prepayment penalties (if applicable), or other fees may be levied by the lender. These will be disclosed in the loan agreement provided by the lender.
- Disbursal: Loan disbursal timelines, including claims of "fast disbursal," depend on lender verification and approval processes. RKG Finvest Limited does not guarantee specific disbursal timelines, such as "10-minute disbursal," as these are subject to lender discretion.
- Disclaimer: All loans are subject to eligibility, credit score, and approval by our lending partners. RKG Finvest Limited does not guarantee loan approval, specific interest rates, disbursal timelines, or other terms. Users are responsible for reviewing lender agreements before accepting loans.
6. Platform Fee
A one-time, non-refundable platform fee ranging from ₹20 to ₹600 is required to access our services. This fee supports profile creation and maintenance to enhance your application’s appeal to lenders. Payment of the fee does not guarantee approval of any financial service. Please refer to our Refund Policy for details. RKG Finvest Limited is not liable if you pay the fee but do not avail services, and no refunds will be provided.
7. No Direct Lender Ties
RKG Finvest Limited operates as an independent affiliate and has no direct ties, partnerships, or commission-based arrangements with lenders or financial institutions. We forward user details to lenders based on suitability and our discretion. We do not receive commissions from lenders, nor do we make commitments or guarantees on their behalf. All decisions regarding financial services, including loan approvals and terms, are made solely by lenders.
8. User Responsibilities
You are responsible for providing accurate, complete, and up-to-date information during registration and service applications. False or misleading information may result in application rejection or termination of platform access. You must comply with all applicable laws, including Reserve Bank of India (RBI) regulations and the Digital Personal Data Protection Act, 2023 (DPDP Act), while using our services.
9. Data Privacy
We collect, store, and process user data as outlined in our Privacy Policy. By using our platform, you consent to the collection and sharing of your personal and financial information with third-party lenders and institutions as necessary to facilitate your service requests. RKG Finvest Limited employs industry-standard security measures to protect your data but is not liable for unauthorized access or data breaches beyond our control.
10. RBI Compliance
RKG Finvest Limited partners with RBI-registered NBFCs and banks to facilitate loan services. All loan agreements are subject to RBI guidelines, including fair practices codes and transparency in lending. Users are responsible for ensuring their loan applications and financial activities comply with RBI regulations.
11. Grievance Redressal
If you have any complaints or concerns regarding our services or lender interactions, please contact our Grievance Officer via our Contact page. We aim to resolve grievances within 30 days. For unresolved issues, you may escalate to the RBI’s Ombudsman for NBFCs as per applicable regulations.
12. Limitation of Liability
RKG Finvest Limited is not liable for any losses, damages, or disputes arising from your interactions with lenders or institutions. We do not guarantee the accuracy, reliability, or availability of third-party services. Use of our platform is at your own risk.
13. Legal Jurisdiction
Any legal disputes or proceedings arising from the use of our platform will be governed by the laws of India and exclusively resolved in the courts of Gurgaon, Haryana, India.
14. Intellectual Property
All content, trademarks, logos, and intellectual property on the platform, including Teofin, are owned by RKG Finvest Limited or its licensors. You may not reproduce, distribute, or use any content without prior written permission.
15. User Conduct
You agree not to use the platform for any unlawful or prohibited activities, including but not limited to fraud, misrepresentation, or unauthorized access to systems or data.
16. Service Termination
RKG Finvest Limited reserves the right to suspend or terminate your access to the platform at any time, with or without notice, for reasons including violation of these Terms, fraudulent activity, or misuse of the platform.
17. Third-Party Links
Our platform may contain links to third-party websites or services. RKG Finvest Limited is not responsible for the content, policies, or practices of these third parties.
18. Disclaimers
The platform is provided "as is" without warranties of any kind, express or implied. RKG Finvest Limited does not warrant that the platform will be uninterrupted, error-free, or secure. Loan approvals, interest rates, disbursal timelines, and other terms are determined solely by third-party lenders, and no guarantees are provided by RKG Finvest Limited. Claims of "fast disbursal" or "quick approval" are subject to lender verification and approval processes.
19. Indemnification
You agree to indemnify and hold RKG Finvest Limited harmless from any claims, losses, or damages arising from your use of the platform or violation of these Terms.
20. Force Majeure
RKG Finvest Limited is not liable for delays or failures in performance due to events beyond our control, including natural disasters, government actions, or technical failures.
21. Governing Law
These Terms are governed by the laws of India, without regard to conflict of law principles.
22. Dispute Resolution
Any disputes arising from these Terms or your use of the platform will be resolved through negotiation. If unresolved, disputes will be settled in the courts of Gurgaon, Haryana, India.
23. Modifications to the Platform
RKG Finvest Limited reserves the right to modify or discontinue the platform or any part thereof without notice. We are not liable for any such modifications or discontinuations.
24. User Account Security
You are responsible for maintaining the confidentiality of your account credentials and for all activities under your account. Notify us immediately of any unauthorized access.
25. No Guarantee of Service Availability
RKG Finvest Limited does not guarantee the availability of any specific financial service or lender participation on the platform.
26. Electronic Communications
By using the platform, you consent to receive electronic communications from RKG Finvest Limited, including emails, SMS, or notifications related to your account or services.
27. Cookies and Tracking
We use cookies and similar technologies to enhance your experience. By using the platform, you consent to our use of cookies as described in our Privacy Policy.
28. Age Restriction
You must be at least 21 years old to use our platform for loan services. By registering, you confirm you meet this age requirement.
29. Prohibited Uses
You may not use the platform to engage in activities that violate laws, infringe on third-party rights, or disrupt the platform’s functionality.
30. Feedback and Complaints
We welcome feedback and complaints. Please contact our Grievance Officer via our Contact page for assistance.
31. Severability
If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions will continue to be valid and enforceable.
32. Entire Agreement
These Terms, along with our Privacy Policy and Refund Policy, constitute the entire agreement between you and RKG Finvest Limited regarding the use of the platform.
33. Waiver
No waiver of any term by RKG Finvest Limited shall be deemed a continuing waiver unless explicitly stated in writing.
34. Assignment
You may not assign or transfer your rights or obligations under these Terms without our prior written consent. RKG Finvest Limited may assign its rights and obligations at its discretion.
35. Third-Party Beneficiaries
These Terms do not confer any rights or benefits to third parties except as expressly stated.
36. Compliance with Laws
RKG Finvest Limited operates in compliance with applicable laws and regulations in India, including RBI guidelines for financial services. Users are responsible for ensuring their use of the platform complies with local laws.
37. Changes to Terms
We may update these Terms periodically. The latest version will be posted on this page with the updated “Last Updated” date. Continued use of the platform constitutes acceptance of the revised Terms.
38. Contact Information
For questions or concerns regarding these Terms, please contact us at 22, RAJINDRA PARK NEW DELHI NEW DELHI DL IN 110060 or visit our Contact page.
39. User Feedback
We value your feedback to improve our platform and services. You may submit suggestions, comments, or ideas via our Contact page. Feedback is voluntary and does not obligate RKG Finvest Limited to act on or compensate for submissions.
40. Platform Updates
RKG Finvest Limited may introduce new features, tools, or services to the platform. Users will be notified of significant updates via email, SMS, or platform notifications, as per your communication preferences.