Terms of Use

Welcome to 1financep2p.com ("Website"). Please read these Terms and Conditions ("Terms") carefully. By accessing or using this Website, you ("User", "you", or "your") agree to be bound by these Terms, along with our Privacy Policy.

If you do not agree with any part of these Terms, please do not use this Website.

Definitions

1F: Refers to 1 Finance P2P Private Limited, a RBI registered NBFC-P2P operating this website/platform.
Borrower: A person registered as a Borrower on the Website.
Credit Bureau Information: Refers to CIBIL, Experian, Equifax, and Crif Highmark.
Escrow Account: The account maintained for collecting and disbursing funds between lenders and borrowers.
Lender: A person registered as a lender on the Website.
Member: Lender or Borrower
RBI: Reserve Bank of India.
Website/Platform: The peer-to-peer lending platform operated by 1F.

1. Acceptance of Terms
By accessing or using the Website, you acknowledge that you have read, understood, and agreed to be bound by these Terms and Conditions, including all policies and disclaimers incorporated by reference. If you do not agree to these Terms, you must not use the Website. 1F reserves the right to modify, update, suspend, or discontinue these Terms or any part of the Website at any time without prior notice. It is your responsibility to review the Terms periodically. Continued use of the Website following any such changes constitutes your acceptance of the revised Terms. In the event of any inconsistency between these Terms and any other agreement or document related to your use of the Website, these Terms shall prevail for all purposes related to activities conducted through the Website. These Terms are published in compliance with, and constitute an electronic record under, the Information Technology Act, 2000 and applicable rules thereunder. No physical or digital signature is required..

2. Ownership and Operation
This Website is owned and operated by 1F, a company incorporated under the Companies Act, 2013.

3. Scope of Services
a. 1F is a web-based platform that connects individual Lenders and Borrowers. It does not engage in lending or borrowing itself. 1 Finance P2P Private Limited only facilitates lending and borrowing transactions and is not a party to any Loan Agreement. 1F acts solely as a neutral facilitator between Borrowers and Lenders.
b. 1F is not a financial institution and does not operate a collective investment scheme, chit fund, or any similar scheme. It also does not operate a Portfolio Investment Scheme under SEBI regulations.
c. 1F provides auxiliary services such as credit assessment, verification, and collections through third-party service providers.
d. Users may browse and search for Borrowers on the platform.
e. 1F does not guarantee the recovery of loans or bear any risk associated with lending or borrowing.
f. All lending and borrowing decisions are made independently by the respective parties, at their own discretion and risk. Members retain full control over their funds and investment decisions.
g. Some content on the Website may be accessible without registration. However, access to certain features and services requires registration as a Member, either as a Lender or a Borrower, and acceptance of the applicable Lender Terms and Conditions or Borrower Terms and Conditions.
h. 1F is not liable for disbursal failures by Lenders or repayment defaults by Borrowers.

4. Registration, Account Creation, and Eligibility
a. Eligibility to Register and Use the Platform
Only those who accept the applicable Registration Terms may create an account and participate in transactions on the Website. Registration is open to:
i. Indian citizens residing in India;
ii. Individuals who are at least 18 years of age;
iii. Individuals who are legally eligible to contract under the Indian Contract Act, 1872;
iv. Individuals or entities not involved in money laundering or terrorist financing activities;
v. Individuals with a valid Indian PAN, rupee-denominated bank account, and requisite KYC documents as per RBI regulations;
vi. Individuals who are not professional moneylenders, unless registered or exempt under local Money Lending laws;
vii. Persons not prohibited by any applicable law from using the services.
Users under the age of 18 are strictly prohibited from accessing the Website. The Website may deny access or terminate accounts of underage or otherwise ineligible users without notice.
By accepting the Registration Terms (e.g., through checking acceptance boxes or clicking confirmation buttons), you declare that you are eligible to register, your use of the platform does not violate any applicable laws, and you acknowledge that international fund transfers are not permitted. You also understand and accept the risks associated with lending or borrowing through the platform. If you are registering on behalf of an entity, you confirm that you are duly authorized to do so.

b. Account Creation Requirements
To register, Users must provide accurate and complete information including a valid username, email address, and password. Users must keep this information up to date at all times. Submitting false, outdated, or incomplete information may result in suspension or termination of your account. Users must not:
i. Use another User’s account;
ii. Impersonate another individual or entity;
iii. Create a login name that is offensive, obscene, vulgar, or unlawful.

As part of the registration process, the Website may:
i. Conduct identity, KYC, and fraud checks;
ii. Obtain credit ratings from a Credit Information Bureau;
iii. Verify residential address and/or employment details.
By registering, you expressly permit the Website to collect and store personal information, which shall be handled as per the Privacy Policy.

c. Account Access and Responsibilities
To lend or borrow through the Website, you must log into your 1F Account. You are solely responsible for all activities under your account and must maintain confidentiality of your credentials. In case of suspected unauthorized access, you must notify the Website immediately.

You agree to:
i. Prevent unauthorized access to your account;
ii. Inform us immediately of any suspicious activity or breach.

The Website may refuse to act on any instruction that:
i. Is unclear or appears unauthentic;
ii. May result in a breach of law or duty;
iii. Indicates potential misuse or illegal activity.

Users are prohibited from trading, selling, sublicensing, or transferring accounts. Unauthorized access, including use of another User’s account or device, shall result in immediate termination of access.

Users are also responsible for ensuring uninterrupted and secure internet connectivity at their own expense, including any third-party charges (e.g., ISP or mobile fees). Users must not attempt to bypass or disable any security measures implemented by the Website.

Refusal, Suspension, and Termination of Registration
1F reserves the right to:
i. Refuse or cancel any registration or transaction request;
ii. Request additional verification at any time;
iii. Reject or terminate membership or access without assigning reasons or incurring liability;
iv. Suspend or delete any User account without notice;
v. Remove or prohibit any User from using the Website.

Negative outcomes in verification or background checks may result in denial of registration or termination of existing membership. In the event of platform discontinuation, appropriate arrangements will be made for servicing active loan agreements.

A User may terminate their registration by emailing cs@1F.com after all active Loan Agreements have been repaid. Upon termination, access to the Website will cease, but the Website will retain User records as required by law.

1F may also terminate your account if:
i. You provide false or misleading information;
ii. You breach the Terms of Use;
iii. You die, become bankrupt, or fail to repay loans;
iv. Your loan is marked as default;
v. You make undisclosed arrangements with creditors/debtors.

Users are not permitted to contact other Users directly. All communication must occur via the Website. Violation may result in account suspension or termination.

Immediate termination or suspension may occur without notice if 1F suspects fraud, misuse of platform data, reputational harm to the Website, or use of platform data for commercial purposes.

Termination of registration shall not affect your obligations to repay borrowed amounts or your entitlement to receive repayments under active Loan Agreements.

5. Lender Terms
a. Eligibility Criteria
To register as a Lender, the User must:
i. Be an individual seeking lending opportunities with better interest returns.
ii. Not be engaged in lending as a business activity.
iii. Not be prohibited under any law from lending on P2P platforms.
iv. Comply with RBI’s exposure norms:

a) Exposure to a single Borrower across P2P platforms must not exceed ₹50,000.
b) Total exposure across all P2P platforms must not exceed ₹50,00,000.
v. Invest through a registered bank account, as per internal fund source policy.

b. Lending Process
i. The Lender transfers the Lending Amount to the Escrow Account using RTGS/NEFT/UPI/payment gateway.
ii. Upon confirmation of receipt, the amount is credited to the Lender’s platform account (processing time: up to 4–6 hours).
iii. Post-funding, the Lender may:
a) Manually select loans to fund, or
b) Set filtering criteria for automated loan matching by the platform.

c. Loan Matching
i. The platform matches Borrowers and Lenders based strictly on the Lender's instructions.
ii. Matching follows a “First In First Out” method if multiple Lenders qualify under the same criteria.
iii. Loan amounts are adjusted to the lowest unit up to ₹1 for equitable distribution.

d. Agreement and Disbursal
i. Loans are disbursed only after execution of all required documentation.
ii. The platform may execute agreements on behalf of the Lender if explicit consent is given through selection criteria or written instruction.
iii. No disbursal shall take place unless documentation is complete.

6. Borrower Terms
a. Eligibility Criteria
To register as a Borrower, the User must:
i. Be based in India.
ii. Not be unemployed or out of business in the past 6 months.
iii. Not be involved in any ongoing civil or criminal litigation.
iv. Receive salary in a bank account.
v. Seek a loan amount of up to ₹10,00,000 with a tenure not exceeding 36 months.
vi. Ensure total exposure across all P2P platforms does not exceed ₹10,00,000.

b. Registration and Loan Request
i. Borrowers can request loans by posting a Loan Request on the Website.
ii. Bank account details must be submitted at the time of registration for repayment purposes.
iii. 1F may request additional documents for KYC compliance.
iv. Borrower consents to credit checks by 1F through registered credit bureaus.
v. Borrower authorizes 1F to conduct background verification in accordance with anti-money laundering laws.
vi. If required, the Borrower must arrange for a co-signor.

7. Loan Acceptance and Agreement
a. The Borrower agrees to accept any loan offer matching their posted criteria.
b. Loan Agreements must be executed either electronically or physically.
c. A summary of all availed loans will be made available in the Borrower's account.
d. Users acknowledge having received a copy of the Loan Agreement and confirm having read, understood, and agreed to abide by its terms.

8. Loan Disbursement
a. Disbursements are made only upon fulfillment of documentation and necessary conditions.
b. A rounding-down method is used, and any fractional rupee is adjusted and credited to the platform.

9. Loan Administration
a. EMI Start Date
i. EMIs begin from the date of disbursal.

c. Missed Repayments
i. If a Borrower misses or anticipates missing an EMI, they must notify 1F at ops@1financep2p.com. Upon such notification:
ii. Delay charges and repayment options will be communicated.
iii. The Lender will be informed.
iv. The case may be escalated to the recovery team or categorized as "Default".
v. Credit reporting agencies may be notified, potentially affecting creditworthiness.

d. Default Category
A Borrower will be classified under “Default” if:
i. EMI remains unpaid for three (3) consecutive months.
ii. Confirmation is received that the Borrower is deceased.
iii. A terminal settlement arrangement is made affecting the loan.
iv. Any other situation as determined solely by 1F.

10. User Information
a. Information submitted by Users is treated as proprietary to 1F and used solely for platform operations and assessing eligibility.
b. Such information will not be shared without consent, unless legally required.
c. Submission of information does not guarantee loan approval, even if complete.

11. Disclosures
The platform shall disclose:
a. To Lenders:
i. Borrower's identity, required amount, interest rate, and credit score.
ii. Loan terms, returns, fees, and taxes.
b. To Borrowers:
i. Lender’s proposed amount and interest rate, excluding identity and contact details.

12. Privacy
a. Service Communications
We will send necessary service-related notifications (e.g., loan or investment updates) via email, text, call, or post.
b. Occasional Updates
i. When registering, you may opt in to receive updates about features, services, and feedback surveys.
ii. You can opt out anytime by updating preferences in your 1F Account or by emailing care@1financep2p.com.
iii. By submitting your contact details, you authorize 1F to contact you even if you are registered on DND lists.

13. Fees and Obligations
a. Lenders are not charged any registration fees for accessing the platform.
b. Interest Rates are disclosed in the Lender FAQs and may be revised with intimation via email/SMS/notification.
c. Borrowers authorize deduction of all applicable fees such as service fee, platform fee, processing fee, etc., before disbursal.
d. Borrowers must pay EMIs on or before the due date or be liable for late fees as per the loan agreement.
e. Facilitation fee is charged only when EMIs are received.

14. Payments
a. Payment information used for services is stored securely using 256-bit SSL encryption or on a cloud.
b. Payment and bank account information is masked on your account and not visible to 1F Customer Service operators.

15. Settlement of Payment
a. Any monies received from the Borrower, including delay charges, late fees, penal charges, or any other applicable charges, shall be kept in the Repayment Escrow Accounts.
b. These amounts will be recorded as a credit to the Lender’s 1F Account, visible to the Borrower upon logging in.
c. Collected repayments will be transferred to the Lender’s 1F Account within three (3) days of receipt of EMI from the Borrower.
i. The Lender will be notified when their 1F Account reflects received EMIs.
ii. The Lender may withdraw funds from the 1F Account to the registered bank account by providing instructions to 1F. No interest will be paid on amounts lying in the 1F Account.
iii. For example, if a Borrower pays EMI on the 2nd of the month, it will be transferred to the Lender’s 1F Account by the 5th, and no interest shall be paid for the interim period.
iv. Repayments made by Borrowers will be rounded up to the nearest whole number..
v. While crediting the Lender's account, values will be rounded off to two decimal places.
vi. Residual amount due to rounding down will be transferred to the platform as an adjustment.

16. Refund and Cancellation Policy
a. Borrowers may raise a refund request in the event of a double deduction of EMI by writing to cs@1F.com within two (2) days. If approved, the resolution will be done within three (3) working days and refund processed within seven (7) days. Funds may reflect in your account within ten (10) days from the date of refund.
b. In case of payment failure (amount deducted but not received by 1F), refund will be processed automatically by the payment gateway per its policy. Borrowers may reach out to the gateway’s customer support.
c. Lenders may raise a cancellation request within 24 hours of investment by emailing cs@1F.com. If loans are not yet disbursed and the request is approved, the investment will be cancelled, and funds will be credited back to the Lender’s 1F Account.

17. License to Use the Website
a. 1F grants Users a limited, revocable, non-exclusive, non-transferable, non-assignable, royalty-free license to access and use the Website and its services solely for personal and lawful purposes, subject to these Terms and Conditions. This includes:
i. Use of the Website and its tools, software, and features made available by 1F.
ii. Strict prohibition on:
a) Commercial use or resale of any Website content;
b) Downloading or copying user information for external use;
c) Use of data mining, robots, or similar tools for data extraction.
b. Any unauthorized use will result in immediate termination of access rights.

18. Content Usage and Prohibited Conduct
a. Users are solely responsible for their activity on the Website and must not use it for unlawful or prohibited purposes. Users agree not to host, upload, transmit, or share content that:
i. Belongs to another person without proper authorization;
ii. Is grossly harmful, harassing, defamatory, obscene, pornographic, pedophilic, or otherwise unlawful;
iii. Harms or exploits minors;
iv. Infringes on intellectual property rights;
v. Misleads regarding the origin of content;
vi. Impersonates another person or entity;
vii. Contains viruses or malicious code;
viii. Threatens the sovereignty, integrity, or public order of India;
ix. Violates any applicable law or creates liability;
x. Disrupts the Website's operations.

b. Users shall not:
i. Use Website content for commercial purposes or for the benefit of competitors or third parties;
ii. Modify, transmit, publish, or reverse-engineer Website content;
iii. Upload harmful code or overload the Website’s infrastructure;
iv. Use scraping tools, bots, or scripts to extract data;
v. Link, cache, or frame Website content without authorization;
vi. Solicit Members for any service—commercial, political, religious, or otherwise—that competes with 1F.

19. Content Moderation and Monitoring
While 1F is not obligated to monitor user content, it reserves the right to:
a. Remove, suspend, or modify content or Member submissions at its discretion without notice;
b. Remove or block any Member profile or information;
c. Access, preserve, or disclose information to:
i. Comply with laws or government requests;
ii. Enforce these Terms;
iii. Prevent fraud or security issues;
iv. Respond to support requests;
v. Protect rights, property, or safety of 1F, its Members, or the public.

20. Report Abuse and Takedown Policy
a. 1F may remove any content deemed objectionable or in violation of these Terms without notice.
b. Users can report abuse by emailing https://1financep2p.com/.
c. Inappropriate communications may lead to:
i. Warnings,
ii. Account restrictions,
iii. Loss of privileges, or
iv. Permanent suspension.

21. Website and Service Availability
a. The Website may experience downtime due to maintenance or other factors. 1F is not liable for any resulting loss.
b. Users are responsible for securing their own hardware, internet, and access tools.
c. 1F makes no guarantee of uninterrupted or error-free service.
d. Reasonable efforts will be made to maintain service availability and payment gateway access.
e. All services are provided “as is,” with no warranties. 1F is not responsible for data loss or interruptions, but will attempt to restore services promptly.

22. Disclaimer of Warranties
a. The Website and services are provided "as is" and "as available."
b. 1F disclaims all express or implied warranties, including:
i. Merchantability and fitness for a particular purpose;
ii. Accuracy or reliability of results;
iii. Continuous, error-free operation.
c. Users are responsible for data security on their devices.
d. 1F does not warrant any outcomes and functions solely as a marketplace for lender-borrower connections.

23. External Links
a. Links to third-party websites are provided for convenience.
b. 1F does not endorse or take responsibility for such external content.

24. Feedback and Information
a. 1F may monitor user content and account activity to ensure compliance.
b. Feedback or suggestions submitted may be used to improve the Website.
c. Users shall not claim any IP or compensation for ideas or suggestions submitted.
d. Feedback must not contain proprietary information and will be treated as non-confidential.

25. Intellectual Property and Copyright
a. All trademarks, copyrights, patents, designs, and other intellectual property rights (IPR) in or on the Website are owned by or licensed to 1F or their respective owners. No part of the Website’s IPR is transferred to users.
b. You retain ownership of any content or information you post. However, any feedback, suggestions, bug reports, or submissions provided by you become the exclusive property of 1F, and 1F may publish such feedback (positive or negative) on the Website.
c. The Website, its content, source code, design, and all associated IPR are the property of 1F. Any reproduction, republication, posting, display, distribution, or other unauthorized use of the Website’s content or IP is prohibited without prior written permission from the rightful owner.
d. Third-party software used on the Website remains the property of its suppliers and is protected by applicable laws.
e. The name "1F" is a trademark and may not be used without authorization.

26. Jurisdictional Issues
Products and services listed on the Website are intended solely for delivery and use within India. 1F shall not be liable for usage outside India.

27. Indemnity
a. You agree to indemnify and hold harmless 1F, its affiliates, officers, employees, and agents from any losses, claims, liabilities, and expenses (including legal fees) arising out of or in connection with:
i. Your breach of these Terms;
ii. Any third-party claims related to your use of the Website;
iii. Any infringement of intellectual property rights or other rights by you.
b. 1F may notify you of any such claims and consult with you regarding the response strategy.
c. You shall not settle any such claim involving 1F without prior written approval from 1F.
d. In no event shall 1F be liable for indirect, incidental, special, or consequential damages resulting from your use of the Website.

28. Limitation of Liability
a. 1F and its affiliates shall not be liable for:
i. Any indirect, consequential, or incidental losses;
ii. Loss of data, revenue, profits, or business opportunities;
iii. Delays, errors, or data losses arising from your use of the Website or internet-based communications with the Website.
b. By using the Website, you release 1F from any claims arising from its use. Use of the Website is at your own risk.

29. Interpretation
a. References to clauses or sub-clauses refer to those within these Terms.
b. Headings are for reference only.
c. Words in the singular include the plural and vice versa.
d. References to gender include all genders.
e. Any reference to statutes includes their amendments or re-enactments.
f. Time limits refer to those specified or mutually agreed in writing.

30. Dispute Resolution
a. Parties shall first attempt to resolve disputes amicably within 15 days of written notice.
b. If unresolved, disputes shall be referred to a sole arbitrator appointed by 1F. The arbitration shall be conducted in English, in accordance with the Arbitration and Conciliation Act, 1996. The seat and venue shall be Mumbai.
c. 1F shall not be responsible for disputes between Users, Members, or Borrowers but may monitor such disputes at its discretion.

31. Governing Law and Jurisdiction
These Terms shall be governed by and interpreted in accordance with the laws of India. Courts located in Mumbai shall have exclusive jurisdiction over all matters arising under or related to these Terms.

32. Grievance Redressal and Notices
a. Complaints may be emailed to https://1financep2p.com/ with relevant account details. 1F will acknowledge receipt within one working day and respond within five working days.
b. If unsatisfied, complaints may be escalated to the Grievance Redressal Officer at the same email. A response will be provided within five working days. Please refer to the Grievance Redressal Policy.
c. Notices from 1F will be sent via email or published on the Website. Users may contact the Grievance Officer via https://1financep2p.com/.

33. General Provisions
a. Users may not assign rights or obligations under these Terms without 1F’s prior written consent. 1F may assign its obligations freely.
b. Your personal data will be used and disclosed in accordance with 1F’s Privacy Policy.
c. By applying to become a Member, you consent to credit checks and agree to provide accurate and complete information.
d. If any provision is declared void or unenforceable, the remainder of the Terms shall remain valid.
e. A failure to enforce any provision does not constitute a waiver unless expressly stated in writing.
f. These Terms do not create any agency, partnership, joint venture, or employment relationship.
g. 1F is not liable for failures to perform obligations due to force majeure events, including but not limited to natural disasters, war, terrorism, strikes, cyberattacks, or governmental actions.
h. In case of any conflict between these Terms and specific Member Terms, the Member Terms shall prevail.
i. If there is a conflict between language versions of these Terms, the English version will govern.
j. Users must ensure that their use of the Website and any loan transactions comply with all applicable laws.
k. The Website and its content are intended for general information purposes only and do not constitute legal, financial, tax, or professional advice. Users should seek independent professional advice as necessary.
l. 1F makes reasonable efforts to ensure the accuracy of content but does not guarantee its completeness or reliability. All content is subject to change without notice.