Terms & Conditions
Last Updated: October 2025
Introduction
Here at Paylance, you can find the best financial services available anywhere. Our group of very talented experts is committed to giving you the best loan support possible. At Paylance, we take great satisfaction in being a reliable and well-known business with offices placed in key Indian towns. To enjoy the comfort of easily obtaining a quick loan, visit our website.
Terms of Usage
We appreciate your visit to our website, www.paylance.co.in, and extend a warm welcome to you. In the context of these Terms and Conditions, you are referred to as a "User," regardless of whether you are a registered user or a guest. If you decide to use our services, you must abide by the following "Terms of Use." You also agree to abide by all other terms and conditions that are listed on this page as well as other places on the website. We urge all users to carefully read these terms and conditions each time they plan to use our services, as they are subject to change.
Services
You must fulfil the requirements outlined in our mobile app to use our Services and submit an application for a loan. Note that the Lender has chosen Paylance to gather, verify, and track your location, and verify User Data, papers, and any other information necessary for loan approval. The mobile application form for Paylance that is accessible on our platform securely gathers and saves User Data with the Lender's approval.
This website's contents are considered electronic records under the provisions of the Information Technology Act of 2000 and any related, periodically modified guidelines. This document constitutes a legally enforceable agreement between the user and the website and does not call for any physical or digital signatures. Because the terms and conditions offered adhere to Rule 3(1) of the Information Technology Rules of 2011, users are advised to carefully read them all.
Qualification of Clients
Here at Paylance, we put the eligibility of our customers first to make sure they have a smooth and responsible financing experience.
Requirements for eligibility:
- Be at least 18 years old
- Be legally capable under the Indian Contract Act, 1872
- Maintain an active bank account with a registered Indian bank
- Hold a valid PAN (Permanent Account Number)
- Be a salaried employee based in India
- Have 6 months of continuous employment
- Have no pending legal matters (civil or criminal)
- Receive regular salary deposits in bank account
Registration and Sign-up Process
Upon submitting a registration application, users consent to and permit us to conduct several verifications:
- Identity, fraud, and KYC checks
- Credit rating verification from Credit Bureau
- Employment and residency verification
- Bank account validation
Registration on our website is free of cost, and there are no processing fees when applying for a personal loan from Paylance.
Website Usage
Registered users are solely responsible for any activity related to their accounts. The website operator will not be held liable for:
- Unauthorized access or hacking incidents
- Access being denied for any reason
- Misuse of personal information
- Unclear or unauthorized instructions
Loan Terms and Process
Fund Transfer
- Smooth transfer without deductions
- Direct transfer to borrower's account
- Official contract requirement
- Clear terms and conditions
Settlement of Payments
- EMIs commence from disbursement date
- Interest payments begin within 5 days
- No prepayment penalties
- Real-time payment tracking
- EMI receipts processed within 3 days
Account Closure
Paylance reserves the right to close accounts for:
- Providing fraudulent information
- Breaking terms of usage
- Account holder's death
- Evidence of fraudulent activity
- Actions damaging website reputation
Privacy and Data Protection
- Regular service announcements via email and mobile
- Option to manage communication preferences
- Strict data protection protocols
- Secure information handling and storage
Content Guidelines
Prohibited content includes:
- Harmful, harassing, blasphemous, or defamatory content
- False impersonation of individuals or organizations
- Content threatening India's security or sovereignty
- Unauthorized commercial usage
Intellectual Property Rights
All intellectual property rights are reserved by Paylance. It is highly forbidden to copy any intellectual property, under any circumstances.