This document sets out a summary of the terms governing the products available to the Customer through the Zype mobile application/Portal (“Zype”). By signing up at the Zype, the Customer hereby gives consent for availing the credit facility provided by the Financing Partners, in Customers own bank account.
Each time the Customer utilises the sanctioned credit facility for undertaking a transaction, the Financing Partner will disburse the loan into customer designated bank account and a new loan account will be created.
The specific terms of the credit facility approved by the Financing Partner will be set out in the sanction letter and loan agreement accessible on Zype.
Eligibility Criteria
The customer must be a citizen of India, hold a valid PAN card, be above 21 years of age & have a minimum monthly income of Rs 15,000/-.
Credit Facility
We provide a credit line up to Rs 5,00,000/-. The limit is decided based on your credit profile/history, income, and other factors. Once customer’s credit line is approved, they can transfer the required amount to their bank account as a personal loan & only pay interest on the utilised amount from the credit line. This borrowed amount can be repaid in 3, 6, 9 or 12 EMIs. Customer can make multiple transfers from their credit line as long as the sum of all outstanding loans does not exceed their approved credit limit.
Fees, Interest and Charges