All loans are given in the form of demand loans. It is either the Customer who contacts the Company or our representatives who contact the Customer on the basis of information provided to the Company by the Customers themselves using our Website.
Tenure of the Loan
All the minimum tenures are approved for 1 Years and a maximum period of 20 Years. Once the loan is taken, the tenure of the loan cannot be extended under any circumstances.
Eligibility for the Loan
Any individual who is a citizen of India and fulfills all requirements for the loan and KYC norms as per RBI guidelines is eligible to apply for a loan. The basic documents that are required for every loan are:
• UIDAI No(Aadhaar Card)
• Bank Account Number
A personal loan is a convenient financing option for consolidating existing debts. Among the most useful personal loan reasons, debt consolidation is where you use the money to pay off multiple loans at once. Loans shall not be availed for any speculative, illegal, or unlawful purposes that violate the laws of the Country.
We offer our users the flexibility to avail of a minimum loan amount of ₹ 10 Thousand /- and a maximum loan amount of ₹ 80 Lakh/-. Still, the loan amounts approval depends on the banking partners.
After considering all the facts and aspects of the loan application, the applicant will be intimated in due course of time regarding the approval of the loan by Pine Cash. The loan will be approved after thoroughly checking your documents, etc. Pine Cash provides financial assistance to customers through its funds, and the Company has tie-ups with several banks. The Company is authorized to offer you loans through these banks as well.
Interest and charges
Interest rates depend on the type of loan availed by the customer. The interest rate ranges between 8.00% to 24.00% annually. The interest shall be calculated for the actual number of days the loan remains outstanding, it refers to the period between the date of the loan disbursement and the date of closure.
A grace period up to 3 days on the due date may be allowed to the client at the sole discretion of the Company. For the purpose of calculation of interest, a year will be counted as 365 days. Interest is calculated on 30 days compounding basis.
If the installments are not received as per the repayment terms, by the end of the month, the borrower will be charged interest on the installments delayed, penal interest as decided by the Company shall be charged over and above the regular interest prospectively.
The customer has to pay the EMI every month till the loan tenure is over and the entire loan is cleared. It is the duty of the customer to pay the EMI on time as it not only saves late fee charges but it also improves the CIBIL score of the customer. So a late fee interest of 1.5% will be charged on the EMI amount on a daily basis.
All kinds of fraudulent activities or attempts to defraud, whether it is by our employees or outsiders, must be brought to the knowledge of the Management as soon as it is detected so that we can take appropriate action against the miscreant.
Employees of Central/State Government
A loan may be given to any person working in State/ Central Government within India.
Relaxation on the Interest
If the full and final payment of the loan amount is made before the stipulated period, the applicant can get a waiver of interest.
The Company May Demand
There are chances that the Company may demand the following elements in order to complete the procedure of the loan. The Company will choose whether to demand these from you or not based on the following three criteria:
• The type of loan you have availed
• The amount of loan you have demanded
• Your Locality like city-area
Refund Policy/ Non-Refundable Charges
If the customer fails to complete the loan process due to any reasons or problems, the service charges and other charges levied in the process will be non-refundable.
If the customer wants to cancel his/her application he can do so before the loan preocess anytime within 3 days, the service charges and other charges levied in the process will be non-refundable.
Suspension of Services
The Company may also suspend services on the web or cancel loan requests for any customer at its sole discretion without assigning any reason, whatsoever.
If Any Party Fails to Complete the Process
If the customer is unable to complete the process, the following will be applicable:
1. The Company will not refund any amount in such cases. The Company is not responsible for or liable for, any action, claims, demands, losses, damages, costs, charges, and expenses that a customer may suffer, sustain or incur due to the offer.
2. If the Company is unable to disburse the loan amount due to mismatch of the details in UIADI document or bank account number or any other related documents then the loan seeker/customer may not make any issues or from the legal aspects because he/she could not applied with genuine documents or details to the company.
Once the applicant submits all the documents and completes all the formalities as per the requirement of the company, the finance company will repay the loan through online payment within one working day.
Returned, Disputed or Un-Authorized / fraudulent transactions by the customers will not be considered.
The company has a dedicated recovery department that takes care of the recovery of the loan amount. There are several authorized recovery agents in this department who are responsible for recovery of money in case the customer fails to pay the EMI. In case a customer does not pay the EMIs on time, these recovery agents will try to recover the loan amount in a manner that they deem appropriate. These agents may call you or contact you at the address provided. They have their own way of dealing with defaulting clients and the company has no interference in it.
If the customer holds any complaint against the company for any reason, the customer should not, in any case, protest the forum, damage the property of the company, fight, misbehave, etc., then legal action against the company entitled to take action. customer.