1. About these terms
These terms govern your use of the Loan24x7 website and any service we provide through it. Loan24x7 is operated by NayakEdu Loans24x7, registered at Odisha, India (“we”, “us”).
By using the site you accept these terms. If you do not accept them, please do not use the site. They should be read together with our privacy policy.
2. What our service is — and what it is not
We are not a lender. We are a comparison and referral platform. We do not issue loans, we do not disburse money, we do not set interest rates, and we do not collect repayments.
What we do:
- collect the details you give us about your income, work and borrowing need;
- match them against the published eligibility criteria of the banks and NBFCs we have agreements with;
- show you the offers you appear to qualify for, with an estimated instalment; and
- introduce you to the lender you choose.
What we cannot do:
- Promise you a loan. Every lending decision is the lender’s alone. An offer shown here is an indication based on what you told us, not an approval, not a commitment, and not a contract.
- Guarantee the rate or amount you are finally offered. The lender sets those after their own assessment, and they may differ from what we showed you.
- Influence a lender’s decision, speed up their process, or overturn a rejection.
3. Who may use the service
To use Loan24x7 you must:
- be a resident of India;
- be at least 21 years old — the minimum age every lender we work with sets;
- be legally capable of entering into a binding contract; and
- be applying for yourself, not on someone else’s behalf.
You must give us information that is true, accurate and complete. Deliberately overstating your income or misdescribing your employment wastes your time and the lender’s, and we may suspend accounts we believe are being used dishonestly.
4. What it costs, and how we are paid
Our service is free to you. We do not charge you a fee, a commission or a subscription, and we never ask you to pay anything to see your offers or to be referred to a lender.
We are paid a referral fee by a lending partner when a customer we introduce goes on to take a loan. That is our only source of revenue, and it is a real commercial interest, so we cap how much it can affect what you see and publish exactly how: how we rank offers.
Any fee you pay in connection with a loan — a processing fee, interest, insurance, prepayment charges — is charged by the lender, disclosed by the lender in their Key Facts Statement, and paid to the lender. Not to us.
Warning: nobody at Loan24x7 will ever ask you to pay a fee to release a loan, or ask for an OTP, card PIN or net-banking password. If you are asked for any of these in our name, it is fraud. Report it to us and to your bank.
5. Your account
You can compare offers as a guest. If you create an account to save them, you are responsible for keeping access to your email secure, since that is how we verify it is you.
Tell us promptly if you believe someone else has accessed your account. You can close your account and have your data deleted at any time — see our privacy policy.
6. Acceptable use
You agree not to:
- submit false, misleading or fraudulent information;
- use the site for anything unlawful, or to launder money;
- scrape, copy, republish or resell our content, our partner data or our comparison results;
- attempt to gain unauthorised access to our systems, or to probe, scan or test their security;
- introduce malware, or take any action that places an unreasonable load on our infrastructure; or
- impersonate anyone, including us or one of our partners.
7. Lenders and other third parties
When you click through to a lender you leave our site and enter theirs. Their terms and their privacy policy apply from that point, not ours. We tell you clearly before that happens.
We take reasonable care in choosing partners and in transcribing their published terms, but we do not control them. We are not responsible for a lender’s decisions, their conduct, their fees, their service, or any agreement you enter into with them. Any dispute about a loan is between you and that lender — though we would still like to hear about it, because it tells us who not to work with.
8. Accuracy of what we show you
Interest rates, fees, loan amounts, tenures and eligibility criteria are set by lenders and can change without notice. We update our records when a partner tells us their terms have changed, and each partner page shows when it was last updated.
Estimated instalments shown on this site are calculated using the standard EMI formula and the lowest rate that partner advertises. They are illustrations to help you compare, not quotes. Your actual instalment depends on the rate the lender offers you.
Nothing on this site is financial, tax or legal advice. It is information to help you compare. If you need advice about your circumstances, speak to a qualified adviser.
9. Availability and changes to the service
We aim to keep the site available, but we do not promise it will be uninterrupted or error-free. We may change, suspend or withdraw any part of the service, add or remove lending partners, or change these terms. Where a change materially affects you we will give reasonable notice.
10. Our liability to you
Nothing in these terms limits any liability that cannot lawfully be limited — including liability for fraud, or for death or personal injury caused by our negligence.
Subject to that, we are not liable for:
- a lender’s decision to decline, delay or price your application;
- any loss arising from your reliance on an estimated figure rather than the lender’s formal offer;
- the acts, omissions or products of any lender or third party; or
- indirect or consequential loss, or loss of profit, revenue or opportunity.
Since our service is free to you, our total liability to you for any claim arising out of your use of it is limited to ₹10,000.
11. Intellectual property
The Loan24x7 name, logo, site design, written content and comparison tools belong to us or our licensors. You may use the site for your own personal, non-commercial purpose. You may not copy, reproduce or republish any part of it commercially without our written permission. Lender names and logos belong to those lenders and are used with their permission.
12. Suspension and termination
We may suspend or close your access if you breach these terms, if we reasonably suspect fraud, or if we are required to by law. You may stop using the site at any time and ask us to delete your account.
13. Complaints and grievances
If something has gone wrong, tell us — most things are fixed fastest by just saying so.
General enquiries: grievance@loans24x7.nayakedu.com, answered within 1 working day, Monday to Friday.
Formal grievances: Priyanka Patel, Grievance Officer — grievance@loans24x7.nayakedu.com. Acknowledged within 24 hours, resolved within 15 days.
14. Governing law and jurisdiction
These terms are governed by the laws of India, and the courts at Odisha, India have exclusive jurisdiction over any dispute arising from them.