Terms & Conditions – IPL

•   To know more about Insta Loan, visit www.instapocketloan.com
•   Visit www.instapocketloan.com for steps to apply for loan in branch, solution for issues while applying for loan and FAQs.
•   The loan is sanctioned at the sole discretion of Doaba Finserv.
•   Your availing of the loan will be deemed to be your unconditional acceptance of the terms and conditions and you will be bound by the same.
•   Doaba Finserv reserves the right to decide the eligibility as per internal policy and guidelines.
•   Your details must match with your documents provided. Else loans will get processed / rejected on the subsequent working day post internal checks.
•   Monthly payment dues will include Principal and interest amount of the EMI.
•   A maximum of a single Insta Pocket Loan can be availed by one student at any point of time subject to eligibility and only after paying the loan in full without any default, one can avail another loan.
•   Interest rate and processing fees confirmed at the time of booking will be applicable. The interest is calculated using the reducing balance method.
•   Tenure confirmed at the time of applying for the loan cannot be changed.
•   The loan amount should not be re-invested in stock markets, mutual funds or any speculative purpose.
•   If your savings account gets closed before all the instalments have been charged, we have the right to take legal action against any default made by the borrower.
•   Processing Fee levied is upto Rs.500, (Exclusive of GST for loan) depending on the customer’s eligibility/offer details. 
•   Processing fees are levied at time of loan disbursement and are deducted from total loan amount. In case you have paid it you would get a receipt for the same from the branch.
•   Processing fee will not be reversed under any circumstances. 
•   In case of default in payment of EMI on the Due date, your loan account would be chargeable for penalty charges of Rs. 500 for every week per EMI.
•   Doaba Finserv will not be responsible for any debit levied on account of charges / fees from the loan amount credited to your account.
•   Default in payment would lead to forfeiture of any discounts or any other offers.
•   After approval of the loan, it gets credited in the borrower account and post that the borrower needs to make monthly EMI payments. The loan once approved, and processed cannot be canceled.
•   The loan once processed can only be either paid by the borrower in equal EMIs as decided by the lender or can be prepaid by the borrower. To understand the prepayment process you can visit the branch.
•   Doaba Finserv charges prepayment charges in case the borrower chooses to pre-close the loan.
•   Doaba Finserv reserves the right to revise the pre-closure charges at its discretion.
•   Partial pre-payment or partial closure is permitted on this loan according to the discretion of the lender and to understand that you can visit the branch.
•   As the pre-closure charge is subject to change, we request you to contact the branch for the applicable charge if you decide to pre-close the Loan.
•   Taking receipts from the branch is the sole responsibility of the lender and is to be done on time. The receipt is considered to be the proof of the payment of EMI so it must be collected from the branch.
•   Getting entries on the IPL card is the responsibility of the borrower as the card is considered to be proof of payment.
•   Referral scheme or any other discounts is valid upto time decided by company and these can be discontinued anytime as per discretion of the company.
•   Maximum of 2 referrals can be applied on one loan which can amount to  upto max Rs. 1000.
•   Each referral would help you with a discount of Rs 500 which can be redeemed on 6^th EMI / last payment. 

Please note that

1. EMI = Principal Amount + Interest Amount  
2. The loan amount will be disbursed in the savings account of the student.

GST is applicable on the following:

• Processing fees
• Pre-closure charges or any other charges

GST is 18%, subject to change and will be applicable as per Govt. regulations.

Goods and Services Tax (GST)

o The applicable GST would be dependent on place of provision (POP) and place of supply (POS). If POP and POS are in the same state then applicable GST would be CGST and SGST/UTGST else, IGST.

o GST for FEE & Charges Billed on statement date will reflect in next month’s statement. o GST levied will not be reversed on Any dispute on Fee & Charges.

Doaba Finserv reserves the right at any time, without previous notice, to add, alter, modify, change or vary all or any of these terms and conditions or to replace wholly or in part this scheme by another offer, whether similar to the offer or not, or to withdraw it all together. You will not hold Doaba Finserv responsible for, or liable for, any actions, claims, demands, losses, damages, costs, charges, expenses, which a participant may suffer, sustain or incur by the offer.

The terms and conditions contained in the Agreement apply over and above the terms and conditions for this Loan. In case you do not agree to any of the details above, or require any further assistance, please contact the branch.

To know more, visit www.instapocketloan.com