PaceLoan User Terms and Conditions

Last Updated: June 18, 2025

Introduction

Welcome to PaceLoan (the "Platform"). By using our platform, you agree to comply with these User Terms and Conditions and all applicable laws and regulations. These terms and conditions form a legal agreement between you and PaceLoan, outlining the rights and responsibilities involved in using the services offered by the platform.

This platform is operated by our company, NJR FINANCE PRIVATE LIMITED, while the loan products are provided by our partner non-banking financial company (NBFC), AROHAN FINANCIAL SERVICES LIMITED. We work closely with AROHAN FINANCIAL SERVICES LIMITED to offer users compliant and legal personal loan services. We strictly adhere to relevant Indian laws and regulations, including the Indian Data Protection Bill (2023) and the regulatory requirements of the Reserve Bank of India (RBI), ensuring the security and privacy of your personal information.

Services Description

• PaceLoan offers personal loan services to help individuals access quick and flexible financial solutions when needed. You can apply for loans through the platform, with loan amounts and repayment terms based on your credit evaluation and financial situation.

User Eligibility

• You must meet the following conditions to use the loan services provided by the platform:
• Be at least 18 years old and either a citizen of India or a legal resident of India;
• Possess valid identification documents such as Aadhaar card, PAN card, etc.;
• Have a valid Indian bank account for receiving loan funds;
• Agree to provide accurate, complete, and truthful personal information.
• If you are under 18 or do not meet the above conditions, you may not use any services offered by this platform.

User Account

• To use the loan services, you must register and create an account. When creating an account, you will need to provide necessary personal information (such as name, address, contact details, identification numbers, etc.). You agree to provide true, accurate, and complete information and to maintain the security of your account.
• Account Security: You are responsible for all activities occurring under your account, including maintaining the security of your password. If you notice any security issues, you must immediately notify PaceLoan.

Loan Application and Approval

• Loan Application: You can apply for the desired loan amount via the platform and provide necessary documentation (such as ID proof, income proof, bank statements, etc.).
• Loan Approval: Loan approval is based on the following factors:
• Your credit history;
• Income level and repayment ability;
• Other relevant financial information.
• PaceLoan reserves the right to decide whether to approve your loan application and may modify loan terms and conditions as needed.
• Loan Terms and Interest Rates: The specific loan amount, term, and interest rate will be provided to you after approval, based on your credit evaluation.

Fees and Payments

• Loan Fees: Loan fees include, but are not limited to, interest, processing fees, service charges, etc. All fees will be outlined in the loan agreement and disclosed to you at the time of application.
• Repayment Method: You must repay the loan according to the payment schedule outlined in the loan agreement. Late repayments will incur late fees and penalties. PaceLoan reserves the right to deduct payments from your provided payment methods (such as bank transfer, UPI, etc.).
• Early Repayment: If you choose to repay the loan early, PaceLoan will handle the early repayment as per the terms outlined in the agreement, and may charge an early repayment fee (if applicable).

User Obligations

• Provide Accurate Information: You agree to provide true, accurate, and complete personal information and update it promptly if any changes occur.
• Compliance with Laws: You agree to comply with all applicable laws, regulations, and regulatory requirements while using the platform.
• No Abuse of Services: You must not use the platform for any illegal purposes, including but not limited to money laundering, fraud, or other criminal activities. If you violate any laws, PaceLoan has the right to terminate your account and take legal action.
• Loan Usage: You agree to use the loan solely for legal personal purposes and not for any illegal or improper activities.

Data Protection and Privacy Policy

• PaceLoan is committed to protecting your personal information and has implemented necessary technical and administrative measures to ensure its security. We process your personal data in accordance with the Indian Data Protection Act (2023) and other applicable privacy laws.
• Data Collection: We collect personal information, financial status, credit history, etc., provided by you during the loan application process. We will not sell your personal information and will only share data with third-party partners when necessary.
• Data Storage and Protection: We will implement appropriate security measures, including encryption and access control, to protect your data from unauthorized access, disclosure, or misuse.
• Data Sharing: We may share your information with third-party partners (e.g., banks, payment platforms) as required by law or for loan processing. All data sharing will be governed by agreements with our partners and comply with data protection laws.
• User Rights: You have the right to access, modify, and delete your personal data, and you may withdraw your consent to data processing at any time. For such requests, please contact PaceLoan via customer support.

Suspension and Termination of Services

• Account Suspension: PaceLoan has the right to suspend or terminate your account under the following conditions:
• You provide false or misleading information;
• You violate any terms of this agreement or any applicable laws or regulations;
• You fail to repay the loan on time and do not reach an agreement for repayment.
• Account Termination: If your account is terminated, you are still obligated to settle any outstanding debts and clear all payable amounts.

Limitation of Liability

• To the maximum extent permitted by law, PaceLoan is not liable for any direct, indirect, incidental, special, punitive, or consequential damages arising from the use of the platform's services, except where caused by our willful misconduct or gross negligence.

Dispute Resolution

• Governing Law: These Terms and Conditions are governed by the laws of India and shall be interpreted in accordance with Indian laws.
• Dispute Resolution: In case of any dispute arising from this agreement, the parties should first attempt to resolve the issue through amicable negotiation. If the dispute remains unresolved, it shall be submitted to the courts of India, in accordance with Indian laws.

Modifications to the Terms

• PaceLoan reserves the right to modify these Terms and Conditions at any time. Any modifications will be published on the platform and will take effect immediately. By continuing to use the platform's services, you agree to the revised terms.

Contact Information

• If you have any questions or need further assistance regarding these Terms and Conditions, please contact us at:
• Customer Service Email: connect@njrfinance.com

This document outlines the complete PaceLoan User Terms and Conditions. Please make sure to read and understand these terms before using the platform's services. If you have any questions, feel free to contact us.