Document

Loan Agreement

The Simple Credit Agreement is entered into between Application Bengal Loan-personal loan app (the "Lender") and the individual named in the Application (the "Customer"), collectively referred to as the "Parties", under the terms, definitions, and conditions set forth below.

For a maximum period calculated from the date of disbursement , the Borrower agrees to repay the Lender the granted line of credit, as well as the agreed ordinary interest, related charges, and any other amounts due in accordance with the terms of this Agreement.

The Lender grants a Loan for , excluding interest, fees, donations, VAT, and any other taxes or fees arising from this Agreement. After deducting interest and fees, the Borrower will receive . The loan will mature exactly on with an annual percentage rate of .

The Borrower possesses the full and absolute legal right, power, and authority to execute, deliver, and fulfil the obligations stipulated in the Loan Documents.

Each Loan Document constitutes a legal, valid, and binding obligation of the Borrower(s), enforceable against the Borrower(s) in accordance with the terms set forth in the Loan Documents.

The Loan Documents, including all contained representations and warranties, along with the Borrower's adherence to their terms and conditions, fully comply with all applicable agreements, contracts, laws, regulations, and decrees binding upon the Borrower and their income or assets.

The Borrower does not have any criminal record and is freely and voluntarily entering into the Loan Documents or Loan Agreement.

The Borrower's existing loans and obligations with other lenders (including banks, financing companies, and credit card companies) are current and not delinquent or past due.

All documents, communication, and information provided by, or on behalf of, each Borrower are complete, accurate, and true.

The representations and warranties made by each Borrower as of the date of execution of each Loan Document and are deemed repeated throughout the duration of the Loan.

The Borrower shall promptly notify the Bank's Customer Care department via phone or email of any changes to essential information, including residential address or contact details. Should any discrepancy arise in the Borrower's name as recorded in the Loan Documents, corrected documents will be issued to reflect the accurate name. Additionally, any change in employment status must be reported within two (2) business days.

The Borrower agrees to be bound by these Terms and Conditions and all terms outlined in the Loan Documents.

The Borrower shall repay all outstanding amounts, fees, finance charges, interest, and any other unpaid balances as specified in the Loan Documents.

Each Borrower agrees to promptly provide and submit all required documents and information as needed throughout the loan term.

Each Borrower agrees to use the Loan solely for personal purposes and the declared intent stated in the application, and not for any unlawful activities or purposes.

Each Borrower agrees that the credit agreement shall remain valid and enforceable even in the event of unforeseen circumstances such as the Borrower's death or permanent disability, until "Bengal Loan-personal loan app" receives formal notice of such an event.

Each Borrower acknowledges that the Terms and Conditions, along with the Loan Documents, are legally binding and shall benefit both "Bengal Loan-personal loan app" and the Borrower(s), including their respective estates, heirs, personal representatives, assigns, successors-in-title, and any other parties who may acquire rights under these agreements.

Any applicable Documentary Stamp Tax related to the loan shall be the responsibility of the Borrower and will be deducted from the net proceeds of the loan.

Before the Loan becomes effective, the Borrower(s) will be informed of the interest rates specified in the Loan Documents, and each Borrower consents to pay the indicated interest rate, whether standard or preferential, as outlined in those documents.

Unless otherwise provided by “Bengal Loan-personal loan app”, the interest rate for the Loan shall be the regular interest rate indicated in the Disclosure Statement.

The Borrower must promptly notify the Bank's Customer Care department by phone or email of any changes to essential information, including residential address or contact details. If the Borrower's name in the Loan Documents contains any discrepancies, corrected documents will be issued to reflect the accurate name. Any changes to employment status must also be reported within two (2) business days.

The Borrower agrees to comply with and be bound by these Terms and Conditions and all provisions specified in the Loan Documents.

Each Borrower commits to repaying all outstanding amounts, fees, and finance charges, including interest rates or any other unpaid balances, as outlined in the Loan Documents.

Each Borrower agrees to promptly furnish and submit all necessary documents and information as required during the loan period.

Each Borrower agrees to use the Loan exclusively for personal purposes and the declared intent specified in the application, and not for any illegal activities or purposes.

Each Borrower agrees that the credit agreement will remain valid and enforceable even in the case of unforeseen events such as the Borrower's death or permanent disability, until the "Bengal Loan-personal loan app" is formally notified of such an event.

Any applicable Documentary Stamp Tax associated with the loan shall be the Borrower's responsibility and will be deducted from the net proceeds of the loan.

The Borrower agrees to pay the late payment fee specified in the Loan Documents if the monthly installment is not paid in full by the due date. "Bengal Loan-personal loan app" will collect the late fee, along with any applicable penalties and interest, starting the calendar day after the missed payment and continuing until all overdue amounts are settled.

At the discretion of "Bengal Loan-personal loan app," a Borrower shall be deemed in default, regardless of the cause and whether voluntary or involuntary, if any of the following events occur:

Failure to pay any principal, interest, fees, or other amounts due under these Terms and Conditions and other Loan Documents when payable.

Provision of inaccurate or misleading information or representations regarding the Promissory Note, these Terms and Conditions, additional Loan Documents, or any other documentation required by or submitted to "Bengal Loan-personal loan app".

Any Borrower fails to fulfil or defaults on any term, obligation, or covenant contained in any contract or evidence of indebtedness and related documents.

Any Borrower neglects to make payments or defaults on the principal or interest due or fails to comply with any stipulation, duty, or agreement outlined in any loan agreement with another financial institution, individual, or organization, which will be considered a breach of their obligations.

If any Borrower fails to adhere to the terms of any contract with financial institutions or other entities, such as failing to repay borrowed money, or if any conditions of default are triggered under those contracts, such actions will constitute a breach of their commitments.

Any Borrower becomes insolvent or unable to pay his/her/their debts or other payment obligations when due or commits or suffers any act of insolvency.

Any Borrower applies for voluntary relief or receives involuntary reliefs or is the subject of involuntary proceedings under any bankruptcy or insolvency law, dies, or becomes legally incapacitated.

Any of the properties of any Borrower, real or personal, becomes the subject of garnishment, attachment, levy, expropriation, seizure, execution, or other legal processes.

If any Borrower challenges the legitimacy or enforceability of the Promissory Note, these Terms and Conditions, or the other Loan Documents, or if they formally dispute in writing the overall responsibility of the Borrower(s) as per any of the mentioned documents, it will be considered a repudiation of their obligations.

“Bengal Loan-personal loan app” believes on reasonable grounds that any Borrower fraudulently misrepresented any information or submitted any falsified documents in order to facilitate the granting of the Loan;

Any event or circumstance transpires that, in the reasonable opinion, will adversely affect any Borrower’s performance or ability to pay the obligations as they fall due under the Loan.

In the event of a Default, "Bengal Loan-personal loan app" reserves the right, though not obligated, to deem the entire outstanding principal of the Loan, all accrued and unpaid interest, and any unpaid penalties to become immediately due and payable. At that point, they will be due without the necessity for presentation, demand, protest, or any additional form of notice, all of which are hereby explicitly waived by each Borrower.

Upon default and in addition to the principal amount, interest and late payment charges, each Borrower agrees to pay the charges on the outstanding amount due as stated in the Loan Documents. Such charges may consist of the following:

The aforementioned fees or charges are clearly outlined in the Disclosure Statement and Amortization Schedule.

Upon default, the Borrower acknowledges that "Bengal Loan-personal loan app" may appoint representatives, agents, or third-party agencies to enforce its rights under the Loan. The Borrower consents to the disclosure of relevant account information to these authorized parties and agrees to indemnify Bengal Loan-personal loan app for any damages, costs, or liabilities resulting from such disclosures.

If the Borrower fails to pay the full amount due on the Payment Date, the account will be classified as delinquent.

In the event of delinquency, the Borrower authorizes "Bengal Loan-personal loan app" to report their name, loan details, and relevant information to credit reporting agencies and financial industry databases.

Furthermore, the Borrower grants the Bank the authority to sell, assign, or transfer all or part of its rights and obligations under the Loan Documents to any individual or entity.

Each Borrower affirms and guarantees that the third-party reference individuals whose details are supplied are personally acquainted with them, are of legal age, possess the requisite legal capacity, reside in India, and possess active local mobile numbers. The Borrower also certifies that they have secured prior permission from these third parties before providing their names and contact information and that such third parties have agreed to potential contact by "Bengal Loan-personal loan app" for verification processes.

The Borrower waives all rights to confidentiality regarding the Loan, Promissory Note, and related documents under applicable laws, in favor of "Bengal Loan-personal loan app", the Bangko Sentral ng Pilipinas (BSP), relevant courts, and any other governmental or administrative authorities requiring disclosure of such information.

The Borrower may not assign any rights or obligations under these Terms and Conditions or the Loan Documents.

"Bengal Loan-personal loan app" reserves the right to sell, transfer, assign, or participate all or any portion of its rights and obligations under the Loan, these Terms and Conditions, and/or other Loan Documents to one or more parties at any time, without requiring the Borrower's consent or prior notice.

The Borrower acknowledges the confidentiality of all information acquired during the loan application process, including details regarding "Bengal Loan-personal loan app"'s products, services, operations, and its affiliated entities and personnel. The Borrower agrees to maintain strict confidentiality and shall not disclose any such information to third parties.

Each Borrower hereby reiterates his/her consent and agreement to the terms and conditions of the Privacy Statement, and such terms and conditions are hereby incorporated herein by reference and shall apply as if fully set forth herein mutatis mutandis.

Each Borrower hereby agrees to provide accurate and truthful information, and if there are additional Borrowers involved, ensures that they too provide such information. They consent to the collection, processing, maintenance, retention, verification, and utilization of this information in accordance with the Bank's Privacy Policy, including the terms, conditions, and permissions stated therein.

In addition to the consents, authorizations and agreements stated in the Privacy Statement, each Borrower hereby agrees that the collected Personal Data can also be used for or in the following means:

b. used in any market research or study of “Bengal Loan-personal loan app” on its loan products.

c. marketing of products and services of “Bengal Loan-personal loan app”, and its Affiliates, and of Merchant-Partners, including marketing initiatives, special offers, or promotional activities through e-email, SMS, telephone calls, social media, e-commerce or other means of communication or channels.

d. enhancing the products of “Bengal Loan-personal loan app”, which includes surveys, benchmarking, profiling, statistical analysis, planning and research.

e. curation of offers of other products or services that will fit each Borrower’s profile.

"Bengal Loan-personal loan app" reserves the right to modify these Terms and Conditions at any time, provided that Borrowers are notified at least 30 calendar days before such changes take effect. Notification will be delivered through the communication methods specified in these Terms and Conditions.