1Fi Website Terms & Conditions

1. Nature of 1Fi's services

1Fi is a technology platform that enables eligible users to access mutual-fund-backed purchase limits and no-cost EMI checkout options from RBI-regulated lending partners.

1Fi may act as:

1. a technology platform;
2. a checkout enablement partner;
3. a Lending Service Provider;
4. a Digital Lending Application partner;
5. a customer journey and servicing partner;
6. a merchant integration partner; and
7. a support and communication channel between users, merchants and regulated lending partners.

1Fi is not a bank, NBFC, credit card issuer, mutual fund, asset management company, investment adviser, broker, portfolio manager or lender. Loan sanction, credit approval, purchase limit approval, drawdown approval, disbursement, repayment, pledge enforcement, credit reporting and related lending decisions are undertaken by the relevant RBI-regulated lending partner, including Kalandri Capital Private Limited and/or such other regulated lending partners as may be onboarded from time to time.

2. Relationship with lending partners

Where you apply for or avail a purchase limit or loan through 1Fi, the loan will be governed by the applicable:

1. Key Fact Statement;
2. loan agreement;
3. master loan-cum-pledge agreement;
4. drawdown term sheet or utilisation advice;
5. repayment schedule;
6. NACH/eMandate/UPI AutoPay mandate;
7. pledge/lien instructions;
8. borrower consents and authorisations; and
9. any other document accepted by you in connection with the loan.

In case of any conflict between these Terms and the applicable loan documents, the loan documents will prevail in relation to loan-specific matters, including lender identity, loan amount, tenure, EMI, repayment, pledge, lien, LTV, default, credit reporting, refunds, cooling-off rights, grievance redressal and enforcement.

3. Eligibility

You may use the 1Fi platform only if you:

1. are at least 18 years of age;
2. are legally competent to contract;
3. are a resident of India, unless otherwise permitted by the relevant lender;
4. have a valid PAN and other KYC documents as required;
5. have a valid Indian mobile number and bank account;
6. hold eligible mutual fund units or such other eligible assets as may be accepted by the lender;
7. are not barred from using the platform under applicable law; and
8. use the platform only for lawful personal purposes.

We may refuse access, suspend access or restrict services if we are unable to verify eligibility or if you fail any KYC, AML, fraud, risk, credit, collateral, regulatory or policy check.

4. Account registration and security

You may be required to register or verify your account using your mobile number, email address, OTP, device authentication, e-signature, biometric/device-based authentication or other permitted methods.

You agree to:

1. provide accurate, complete and updated information;
2. keep your mobile number, email address, device, SIM, password, PIN, OTP and account credentials secure;
3. not share OTPs, passwords, account access or authentication credentials with anyone;
4. promptly notify us of any unauthorised access, fraud, device loss, SIM swap or account compromise;
5. not impersonate any person or use another person's identity, PAN, Aadhaar, bank account, mutual fund folio, device or credentials; and
6. remain responsible for all activity carried out through your authenticated account, unless caused solely by our proven fault.

We may rely on OTP logs, device logs, IP logs, e-sign records, clickwrap records, app logs, call recordings, WhatsApp/SMS/email logs, payment confirmations, merchant confirmations and other electronic records as evidence of your instructions, consents, acceptance and transactions.

5. Purchase limits and no-cost EMI checkout

Subject to lender approval, eligible users may be shown a purchase limit based on eligible mutual fund units, collateral value, applicable LTV, lender policy, outstanding loans, pending transactions, market conditions and other checks.

The purchase limit is not a committed credit line and may be increased, decreased, suspended, blocked, cancelled or made unavailable at any time in accordance with lender policy, applicable law, market value of collateral, LTV, KYC status, mandate status, pledge status, repayment conduct, merchant transaction status and other risk or operational factors.

For each eligible merchant purchase, a separate drawdown may be created under the purchase limit. The approved drawdown amount may be disbursed directly by the lender to the merchant on your behalf. No amount is ordinarily disbursed directly to you for such merchant purchase transactions.

The no-cost EMI structure means that the interest payable by you may be 0% where expressly disclosed in the Key Fact Statement and drawdown term sheet. The lender, 1Fi or other parties may receive merchant, manufacturer, dealer, partner or commercial subvention. Such commercial arrangements are not payable by you unless expressly disclosed to you.

6. KYC, verification and credit checks

By using the platform, you authorise 1Fi, the relevant lender and their service providers to conduct KYC, identity, bank account, mutual fund holding, credit bureau, fraud, AML, CFT, sanctions, Account Aggregator, CKYCR, DigiLocker, PAN, Aadhaar-based verification and other checks as may be required.

You agree to provide additional information, documents, declarations, end-use confirmations, source-of-funds details, source-of-wealth details or enhanced due diligence information when requested.

Failure to complete verification may result in rejection, suspension, reduction or cancellation of your access, purchase limit, drawdown or transaction.

7. Mutual fund data, pledge and lien

To access a mutual-fund-backed purchase limit, you may be required to provide or authorise access to your mutual fund holding details through MFCentral, CAMS, KFintech, other MF-RTAs, AMCs, Account Aggregators, depositories or other permitted channels.

Where a loan is approved, eligible mutual fund units may be pledged or lien-marked in favour of the lender. The pledge/lien, margin maintenance, LTV, top-up, substitution, release, invocation and redemption process will be governed by the applicable loan documents.

You acknowledge that mutual fund values are subject to market risk. A fall in NAV or collateral value may reduce your available purchase limit and may require you to pledge additional eligible mutual fund units or prepay part of the outstanding amount. Failure to maintain required collateral may result in pledge invocation by the lender in accordance with the loan documents.

1Fi does not provide investment advice and does not recommend that you buy, sell, redeem, switch or pledge any particular mutual fund scheme. You should make your own independent decision and consult your financial adviser where required.

8. Merchant transactions

The goods or services purchased using a 1Fi-enabled checkout are sold or supplied by the relevant merchant, seller, manufacturer or service provider.

1Fi and the lender are not the manufacturer, seller, distributor, service provider, warrantor or delivery partner for the goods or services purchased from the merchant, unless expressly stated otherwise.

The merchant is responsible for product description, availability, pricing, quality, delivery, installation, warranty, return, replacement, cancellation, refund and after-sales service.

1Fi may help coordinate with the merchant for transaction confirmation, refund confirmation or customer support, but 1Fi does not guarantee merchant performance, product quality, delivery timeline, refund approval or warranty fulfilment.

9. Refunds, returns and cancellations

If a merchant transaction is cancelled before loan disbursement, no repayment obligation should arise for that cancelled drawdown, except for any amount actually disbursed or payable in accordance with the applicable documents.

If cancellation, return, non-delivery, delayed delivery, defective delivery or refund occurs after disbursement, your repayment obligation will continue until the merchant confirms the refund/cancellation and the refund amount is received and adjusted by the lender in accordance with the loan documents.

Refunds, if any, may be applied towards the outstanding loan amount, future EMIs or closure of the relevant drawdown. Any surplus, if applicable, may be remitted to you in accordance with the lender's process and applicable documents.

Merchant disputes do not automatically suspend EMI repayment, NACH presentation, credit reporting or loan obligations.

10. Payments, mandates and repayment

You may be required to set up a NACH mandate, eMandate, UPI AutoPay instruction or other payment instruction in favour of the lender for repayment of EMIs and other outstanding amounts.

You agree to maintain sufficient balance in your repayment account on each due date and to not revoke, block, cancel or interfere with valid repayment instructions.

Loan repayment, prepayment, foreclosure, cooling-off, lien release, default, classification and recovery will be governed by the applicable loan documents. 1Fi may send repayment reminders and service communications on behalf of the lender.

1Fi does not charge any customer-facing platform fee, convenience fee, processing fee or subscription fee unless expressly disclosed to you upfront. Any loan-related fee, charge or cost payable by you must be disclosed in the applicable Key Fact Statement or loan documents.

11. Prohibited use

You must not use the 1Fi platform, purchase limit, loan drawdown or merchant checkout for any unlawful, prohibited, fraudulent, speculative or restricted purpose.

Prohibited purposes include:

1. purchase of gold in any form, including gold jewellery, gold coins, bullion, Gold ETFs or gold mutual funds;
2. purchase of shares, securities, bonds, debentures, mutual fund units, IPOs, rights issues, buybacks or capital market instruments;
3. speculative trading, badla financing, stock market financing or investment financing;
4. purchase of small savings instruments;
5. gambling, betting, lottery, fantasy gaming or wagering where prohibited or restricted;
6. crypto assets, virtual digital assets or money laundering-related activity;
7. illegal goods or services;
8. weapons, firearms, ammunition, explosives or restricted defence items;
9. narcotics, controlled substances or prohibited drugs;
10. adult sexual content or services prohibited by law or platform policy;
11. tobacco, nicotine, alcohol or age-restricted products where not permitted by law or platform policy;
12. remittance outside India;
13. onward lending, business financing or working capital use;
14. transaction splitting, circular transactions, sham purchases or fake invoices;
15. purchases intended to misuse the lender, 1Fi, merchant or any regulatory framework; and
16. any other purpose prohibited by applicable law, lender policy, merchant policy or platform policy.

We may block, reject, cancel or report any transaction that appears to involve a prohibited purpose.

12. User conduct

You agree not to:

1. violate any law or third-party right;
2. provide false, incomplete, misleading or forged information;
3. use another person's identity, PAN, Aadhaar, bank account, mutual fund holding or device;
4. tamper with, bypass or misuse any verification, KYC, credit, pledge, payment or security process;
5. reverse engineer, scrape, crawl, copy, interfere with or overload the platform;
6. upload malware, malicious code or harmful content;
7. attempt unauthorised access to any system, account, API, database or network;
8. use the platform for fraudulent, abusive, illegal or harmful activity;
9. create multiple accounts to bypass checks;
10. manipulate merchant transactions, refunds or invoices;
11. interfere with lender rights, lien marking, pledge enforcement or repayment; or
12. misuse customer support, grievance or dispute processes.

13. Communications and consent

You consent to receive communications from 1Fi, the relevant lender, merchants and service providers through SMS, phone call, WhatsApp, email, push notification, in-app message, chatbot, post or other lawful modes.

Communications may relate to OTPs, account access, KYC, eligibility, purchase limits, drawdowns, loan documents, pledge/lien status, merchant transactions, refunds, repayment reminders, support, collections, grievances, regulatory updates and marketing offers.

You may opt out of marketing communications. However, transactional, servicing, repayment, collection, legal, security and regulatory communications may continue.

14. Privacy and data use

Your use of the 1Fi platform is also governed by the 1Fi Privacy Policy.

By using the platform, you consent to the collection, use, storage, disclosure and processing of your data in accordance with the Privacy Policy, consent screens, lender documents and applicable law.

The relevant lender may also process your data under its own privacy policy and regulatory obligations.

15. Intellectual property

All rights in the 1Fi platform, brand, logo, software, user interface, design, content, documentation, workflows, APIs, graphics, text, trademarks, service marks and other materials belong to 1Fi or its licensors.

You receive only a limited, revocable, non-exclusive, non-transferable right to access and use the platform for personal, lawful and permitted purposes.

You must not copy, reproduce, modify, distribute, sell, lease, reverse engineer, create derivative works from or commercially exploit any part of the platform without our prior written consent.

16. Third-party services

The platform may integrate with or redirect you to third-party services, including lenders, merchants, payment gateways, account aggregators, KYC providers, DigiLocker, MF-RTAs, MFCentral, AMCs, WhatsApp, SMS/email providers and other technology or service partners.

Your use of third-party services may be governed by their own terms, privacy policies and consent flows. We are not responsible for third-party actions, omissions, failures, downtime, delays or terms, except to the extent required by law or expressly accepted by us in writing.

17. No financial, tax or investment advice

Information shown on the platform is for convenience and transaction enablement only. 1Fi does not provide investment advice, tax advice, legal advice, portfolio management, mutual fund distribution advice or securities recommendation.

Any information relating to mutual fund holdings, NAV, eligibility, LTV or available limit is based on available data and lender policy and may change. You should consult your own adviser before making financial or investment decisions.

18. Platform availability

We aim to keep the platform available and functional, but we do not guarantee uninterrupted, error-free or real-time access.

The platform may be unavailable due to maintenance, upgrades, outages, network issues, payment gateway downtime, partner downtime, MFCentral/MF-RTA/AMC system issues, bank/NPCI downtime, regulatory restrictions, security incidents or events beyond our control.

We may modify, suspend, withdraw or discontinue any feature, product, merchant integration, lender integration or service at any time, subject to applicable law and existing loan obligations.

19. Suspension and termination

We may suspend, restrict or terminate your access to the platform if:

1. you breach these Terms;
2. we suspect fraud, misuse, unauthorised access or illegal activity;
3. KYC, AML, fraud, credit, pledge, repayment or regulatory checks fail;
4. you provide false or misleading information;
5. you misuse the platform or merchant checkout;
6. required consents are withdrawn;
7. required lender or partner services are unavailable;
8. required by a lender, regulator, court, law enforcement authority or applicable law; or
9. continued access creates risk for you, 1Fi, the lender, merchants or other users.

Termination of platform access will not affect any outstanding loan, repayment obligation, lender right, lien, pledge, refund adjustment, legal claim or regulatory obligation.

20. Disclaimer of warranties

The platform and services are provided on an "as is" and "as available" basis.

To the maximum extent permitted by law, we disclaim all warranties, express or implied, including warranties of merchantability, fitness for a particular purpose, availability, accuracy, non-infringement, uninterrupted access, error-free operation or suitability of any loan, merchant product or service.

We do not guarantee that:

1. you will be eligible for a purchase limit;
2. any lender will approve a loan;
3. any displayed limit will remain available;
4. any merchant transaction will be completed;
5. any product will be delivered on time or meet expectations;
6. any refund will be approved by the merchant;
7. mutual fund values will remain stable; or
8. any third-party system will function without interruption.

21. Limitation of liability

To the maximum extent permitted by law, 1Fi will not be liable for indirect, incidental, special, punitive or consequential losses, including loss of profit, loss of business, loss of opportunity, loss of data, loss of goodwill, market loss, investment loss or losses arising from merchant failure, lender decision, third-party downtime, payment failure, communication failure, unauthorised access caused by your negligence, or changes in mutual fund value.

Nothing in these Terms limits liability that cannot be limited under applicable law.

22. Indemnity

You agree to indemnify and hold harmless 1Fi, its directors, officers, employees, agents, service providers, affiliates and partners from and against any claims, losses, damages, penalties, liabilities, costs and expenses arising from:

1. your breach of these Terms;
2. false, incomplete or misleading information provided by you;
3. misuse of the platform;
4. unauthorised use of another person's information or credentials;
5. prohibited use of any drawdown or purchase limit;
6. breach of applicable law;
7. fraud, impersonation or unauthorised activity attributable to you;
8. merchant disputes caused by your conduct; or
9. infringement of any third-party right.

23. Changes to these Terms

We may update these Terms from time to time. Updated Terms will be made available on the platform.

Where required by law, we will notify you or seek your consent. Your continued use of the platform after the updated Terms become effective will be treated as acceptance of the updated Terms, subject to applicable law.

Changes to loan-specific terms will be governed by the applicable Key Fact Statement, loan documents and regulatory requirements.

24. Governing law and dispute resolution

These Terms are governed by the laws of India.

Any dispute arising out of or in connection with these Terms, the platform or 1Fi services will first be attempted to be resolved through good-faith discussions.

If the dispute is not resolved, it shall be referred to arbitration by a sole arbitrator appointed in accordance with the Arbitration and Conciliation Act, 1996. The seat and venue of arbitration shall be Bengaluru, Karnataka. The language of arbitration shall be English. The arbitration may be conducted physically or through electronic/online mode.

Subject to the arbitration clause, the courts and tribunals at Bengaluru, Karnataka shall have exclusive jurisdiction.

Nothing in this clause prevents 1Fi, the lender or any authorised person from seeking interim relief, injunctive relief, recovery, enforcement or other remedies before any court, tribunal, regulator or authority of competent jurisdiction where permitted by law.

25. Miscellaneous

If any provision of these Terms is held invalid or unenforceable, the remaining provisions will continue to remain valid and enforceable.

Failure or delay by 1Fi in exercising any right will not operate as a waiver.

You may not assign or transfer your rights or obligations under these Terms without our prior written consent. We may assign or transfer our rights and obligations in connection with business restructuring, merger, acquisition, financing, outsourcing, sale of assets or platform transfer, subject to applicable law.

These Terms, the Privacy Policy, applicable consent screens and any other platform-specific terms constitute the entire understanding between you and 1Fi in relation to use of the 1Fi platform. Loan-specific documents will separately govern your relationship with the relevant lending partner.

26. Contact us

For questions about these Terms, please contact:

Fiquity Technology Private Limited / 1Fi

Email: [email protected]

Phone: +91 7303323443

Address: 1st Floor, Orchid Business Park, Sector 48, Gurugram