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Terms and Condition

Terms and Condition

Microfinance Terms and Conditions


Microfinance rules for personal loans seek to protect not just the lender’s finances but also the borrower’s rights.If there is one type of loan that is popularly availed, it is everyone’s favorite - the personal loan. Versatile and easy to get, personal loans can be used for a variety of purposes and do not need collateral as well. There are multiple Microfinance/Lenders  in the market today offering these loans to individuals at competitive rates but did you know that there are personal loan rules and regulations in India?

Let us explore this below.What exactly are these rules and regulations? How are they mapped out and most importantly what do they cover?

  • Use and Security
    One of the biggest benefits of availing of personal loans is the fact that they can be used for a variety of reasons. Unlike auto loans or education loans, personal loans are not bound by a set purpose. Additionally, personal loans do not require collateral or security therefore applicants must be mindful of this and not fall for fraudulent claims


  • Eligibility Criteria
    The eligibility criteria for personal loans are tailored to ensure that borrowers are in a position to repay the same. Each lender has different eligibility criteria in place. Some of the common factors that determine this are as follows:


  • Age of the Borrower
    Most Microfinance/Lenders  provide loans to those between the ages of 18 and 55. This is because most individuals within this age group have a set income in hand and are in the position to repay the loan


  • Credit Scores
    The higher the credit score, the better are your chances of getting a personal loan at low rates of interest 26% P/Y. Most Microfinance/Lenders  require borrowers to have a credit score of over 750  especially for personal loans as there is no collateral required. Those that have low credit scores or a fragmented credit repayment history will have a harder time getting loans as Microfinance/Lenders  are unable to trust their repayment capacity.

It is understood that the duty of a borrower is to repay the loan and to make this process easier and less prone to errors, Microfinance/Lenders  have put forth certain conditions as mentioned above that need to be fulfilled by borrowers if they wish to get the loan.

  • KYC (Ragister User)

After verifying the information filled in the form in the application, the credit score will be checked and the loan limit will be available. Orignal Documant Scan and Uploaded such as Aadhaar card, pan card, selfie, and signecher will be considered as evidence in the agreement, which will be used as original documents in the court at the time of legal action for not re-paying the loan. will be considered in use.

The agreement and document computer generated pdf will be valid at the time of legal action. And it will be valid to the customer. For recovery from non-payment of loan on time, travel expenses, regular interest, processing fee, and legal advocate expenses like notice charge, courier charge, etc. All the advocate fees have to be paid by the customer. Our company checks KYC online and offline.Client First time Ragister fees is 354 /- Rs.


  • FD (Fix Diposite)

Our company does not give interest on FD to any employee or branch but the company gives them loan limit. The amount will not be refunded until the employee or branch agreement is completed.


  • Loan Approve

After the loan is approved, you will be informed by SMS and mail by manually transferring it from our bank's current account. Which gets deposited in your account in 24 hours. In a short time we are changing our system and making fast and safe process.


  • Other Chargees

All types of chargers are shown to you before taking the loan which the customer can see then after reading the terms conditions sign the agreement and give all the consent. Chargers like Company Processing Fee, CIBIL Information Charge, KYC Verification Charge, Fund Disbursement Charges, Stamp Duty are on the customer which are included in installments. The company offers to transfer full rupees to their bank account. If the customer delays in payment of installments or Ecs gets bounce then bounce charge of 2% will be taken from the bank chargers and the company. Third party chargers to be paid by the company will be borne by the customer. The platform is used. for a fee.Employee Agreemant Chargees Rs.5900/Rs. Legali Agreemant time Pread Of 5 Years. FD Agreemant completed time is 7 to 12 Days.


  • Hidan Chargees

No Hidan Chargees All Charges Loan Aprovel Time Show After Get Loan. Borower Accept after Loan Disburs in Borower Bank Account


  • Branch / Emploee

Our company employs each district wise. Employee code or branch code is given to our employees only after giving complete information about the company and all types of training about the loan. If any customer takes loan then full Kyc is done by our employee. In case of non-payment of customer loan, according to RBI rules, the authority to take legal action is also that of the employee or the branch. Our company does not give any salary to the employee but he is given an incentive at every loan. It is given after deducting TDS from the incentive of the employee or branch.


  • Paymnt ( EMI Pay )

You can pay the loan installment through online services like cash, upi, card, netbanking. You will see the update within 1 hour in the application itself. And you will also be informed by sms and mail. We are not responsible if we receive no notification.

  • Order In  to aid the process of lending in a way that is beneficial to both the borrower as well as Microfinance/Lenders , the MICROFINANCE has put forth certain guidelines that need to be adhere
  • All loan application forms must be comprehensive and should include all the necessary information regarding fees and payments. This is to allow borrowers to compare rates with other banks if needed and make informed decisions
  • The verification of loan application must be done within a 2 to 4 Days of time and if additional information or documentation is required, borrowers must be contacted immediately without undue delay
  • In case loan applications for amounts less than Rs. 2 lakhs are rejected, the reasons for the same must be conveyed in writing.Send mail for information.
  • Timely disbursement of loans must be ensured and if there are any changes in terms or conditions, this must be communicated to the borrower
  • If Microfinance/Lenders  wish to recall/cancel/request faster repayment, they must provide adequate notice to the borrowers
  • Microfinance/Lenders  are not allowed to interfere with the borrower’s life in general unless provided in the terms and conditions of the loan agreement
  • Borrowers are not to discriminate based on caste, religion, sex, etc.
  • Microfinance/Lenders  are also not allowed to harass the borrower when it comes to the recovery of loans
  • Loan Provided for Only Gujarat Ragiser District only
  • Write all the information correctly at the time of registration. After the loan is approved, all the chargers should be viewed by the customer. After reading Trams and Conditions we shall have no liability.
  • If legal action is taken, the amount that would be due before the court judgment at that time will be deemed to be due.
  • There are many more stipulations and guidelines given by the MICROFINANCE all intended to protect the interests of the borrower as well as the lender.


  • Refund and Cancellation Policy
  • Singi finance Pvt Ltd strongly recommends that all members – Microfinance/Lenders  and Borrowers – read, understand and familiarize themselves with our cancellation & refund policy prior to using any services of Singi finance Pvt Ltd No overseas payment can be made through wire transfer or any other means to our bank account.
  • In the event of cancellation of services due to any avoidable/unavoidable reasons we must be notified of the same in writing at Info@singifinance.com  Cancellation request should be placed within 24 hours of agreement. Cancellation charges will be effective from the date we receive advice in writing, and cancellation charges would be as mentioned in the Loan Agreement.
  • Any refunds, if applicable within the purview of our refund policy, will be processed over a working period of 6 to 8 days  due to Indian banking procedures. The refund policy is subject to change by Singi finance Pvt Ltd. The changes will apply after due legal diligence. Suitable announcements will be made on the website and legally-compliant notice period will be given before any changes come into force. If Microfinance/Lenders  or borrowers do not wish to accept the revised policy, Microfinance/Lenders  or borrowers should not continue to use the services and inform us about the same on Info@singifinance.com. If Microfinance/Lenders  or borrowers continue to use the services after the date on which the change comes into effect, Microfinance/Lenders  or borrowers use of the services indicates your agreement to be bound by the new refund policy.
  • Please note that there may be certain instruction to remit payments or seek rendition of services that Singi finance Pvt Ltd is unable to accept shall be cancel. We reserve the right, at our sole discretion, to refuse or cancel any order for any reason. We may also require additional verifications or information before accepting any instruction or registering you on are portal as a lender or a borrower. The borrower(s) and lender(s) are required to note that negative third party verification report(s) are crucial factors considered during the funding process. The funding may get rejected at any stage due to lack of information or verifiable information.
  • There are many more stipulations and guidelines given by the REGISTAR OF MICROFINANCE/LENDERS   all intended to protect the interests of the borrower as well as the lender.
  • Subject to Branch/Employee District  Junction


Contect Us :-

Singi Finance Pvt Ltd

Add. :-Shop No.S116,First Floor, Gate No.2,New Marketing Yard, Morbi Road,Bedi,Rajkot 360 003

Ph. +91 7371 999 909

E-mail :- Info@singifinance.com


Singi Finance

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