Terms and Conditions
These Terms and Conditions (“Terms”) govern the access to and use of the website and services provided by Rubi Micro Services and Group Association (hereinafter referred to as the “Company”, “Lender”, “We”, “Us”, or “Our”).
By accessing or using this website or applying for any financial service offered through this platform, the user agrees to comply with and be bound by these Terms and Conditions. If the user does not agree to these Terms, the user should discontinue use of the website immediately.
1. Company Information
Name of the Company: Rubi Micro Services and Group Association
Registered Office Address: Uday Shankar Sarani Road Mahakal Pally Siliguri
2. Definitions
For the purposes of these Terms and Conditions, the following terms shall have the meanings assigned to them unless the context otherwise requires:
2.1 Borrower: Any individual or group who applies for and/or obtains a loan or financial service from the Company.
2.2 Website: The official website operated by the Company including any subdomains, mobile applications, or digital platforms operated by the Company.
2.3 Loan: Any financial assistance granted by the Company to a Borrower including microfinance loans, group loans, individual loans, or other credit facilities.
2.4 Loan Agreement: The legally binding agreement between the Borrower and the Company governing the terms of the loan.
2.5 Installment: Periodic payments of principal and interest payable by the Borrower.
2.6 Due Date: The scheduled date on which repayment installment must be paid.
2.7 Outstanding Amount: The total unpaid amount including principal, interest, fees, penalties, and other charges payable by the Borrower.
2.8 User: Any individual accessing or using the Company’s website.
3. Acceptance of Terms
By accessing the website or using any services offered by the Company, the user acknowledges that:
- The user has read and understood these Terms and Conditions.
- The user agrees to comply with these Terms.
- The user accepts that these Terms constitute a legally binding agreement.
The Company reserves the right to modify or update these Terms at any time without prior notice.
4. Eligibility
A person shall be eligible to apply for a loan if:
- They are at least 18 years of age
- They are legally competent to enter into a contract
- They comply with the eligibility criteria determined by the Company
- They submit all required documentation and information
The Company reserves the right to reject any application without assigning any reason.
5. Services Offered
- Microfinance loans
- Individual loans
- Group lending programs
- Financial assistance for small businesses
- Financial literacy services
- Digital repayment services
- Customer support services
The Company may modify or discontinue any service at its discretion.
6. Loan Application Process
Users may apply for loans through:
- The Company website
- Mobile applications
- Branch offices
- Authorized representatives
The Borrower agrees to provide accurate, complete, and truthful information in the loan application.
The Company reserves the right to:
- Verify the information submitted
- Conduct credit checks
- Perform field verification
- Obtain credit bureau reports
Submission of an application does not guarantee loan approval.
7. Loan Approval and Disbursement
Loan approval shall be at the sole discretion of the Company.
Upon approval:
- The Borrower must execute the Loan Agreement.
- The Borrower must comply with all documentation requirements.
The loan amount may be disbursed through:
- Bank transfer
- Digital payment systems
- Any other legally permissible method
8. Interest Rate
The Borrower agrees to pay interest on the loan amount.
- Fixed interest
- Floating interest
- As per applicable regulatory guidelines
The effective interest rate will be disclosed in the loan agreement.
9. Repayment Terms
The Borrower shall repay the loan in installments according to the repayment schedule.
- Cash payments
- Bank transfer
- Digital payment platforms
- Standing instructions or auto debit
Failure to pay installments on the due date may result in penalties.
10. Fees and Charges
- Processing fees
- Documentation charges
- Late payment charges
- Prepayment charges
- Insurance premium
- Legal expenses
11. Borrower Obligations
- Use the loan only for lawful purposes
- Provide accurate information
- Repay installments on time
- Notify the Company of any change in financial condition
- Allow verification of loan usage if requested
12. Events of Default
- Non-payment of installments
- Submission of false information
- Misuse of loan funds
- Insolvency or bankruptcy
- Violation of any terms of the loan agreement
13. Consequences of Default
- Charge penalties
- Declare the entire outstanding amount payable immediately
- Initiate recovery proceedings
- Report the default to credit bureaus
- Take legal action
14. Data Privacy
The Company may collect and process personal information including:
- Identity details
- Financial information
- Credit history
- Transaction records
15. Website Use
- Use the website for illegal activities
- Attempt to hack or damage the website
- Misrepresent identity
- Upload malicious software
16. Intellectual Property
All website content including logos, text, images and software are the property of the Company and protected under intellectual property laws.
17. Limitation of Liability
The Company shall not be liable for technical errors, downtime, loss of data or unauthorized access to user accounts.
18. Third Party Services
The website may contain links to third-party services for which the Company is not responsible.
19. Recovery Practices
The Company shall follow fair and ethical recovery practices in accordance with regulatory guidelines.
20. Grievance Redressal
Email: rubimicrofin@gmail.com
Phone: +91 9083001555 / 9083002555
21. Governing Law
These Terms shall be governed by the laws of India.
22. Jurisdiction
All disputes shall be subject to the jurisdiction of the courts located at Siliguri, West Bengal.
23. Amendments
The Company reserves the right to amend these Terms at any time.
24. Severability
If any provision is held invalid, the remaining provisions shall remain valid.
25. Entire Agreement
These Terms constitute the entire agreement between the user and the Company regarding the use of the website and services.