Terms & Conditions
Official Master Services Agreement for CoverMantra Services Private Limited. Please review these terms governing digital lending facilitation, credit matching, and platform usage.
Introduction & Corporate Identity
CoverMantra Services Private Limited is a private limited company incorporated under the Companies Act, 2013 (CIN: U46109DL2024PTC438732, GSTIN: 06AAMCC2334C1Z3, Registered Office: Fatehabad, Haryana - 125050). By accessing or using the CoverMantra website, mobile application, or digital APIs (collectively referred to as the 'Platform'), you acknowledge that you have read, understood, and agreed to be bound by these Terms & Conditions alongside our Privacy Policy.
Facilitator & LSP Operational Status
CoverMantra operates strictly as a digital marketplace and Lending Service Provider (LSP) facilitating loan matching and pre-qualification between end-users and RBI-regulated Scheduled Commercial Banks and Non-Banking Financial Companies (NBFCs). CoverMantra is not a bank or NBFC and does not grant loans, accept deposits, or underwrite credit risks directly.
Scope of Services Provided
The Platform provides algorithmic credit product discovery, credit bureau score facilitation, eligibility calculators, and document forwarding to partner lenders. Underwriting approval, sanction limit, interest rate determination, and disbursal remain under the sole statutory discretion of the chosen Lending Partner.
Borrower Eligibility Criteria
To register or apply for credit facilities through the Platform, you must be a citizen of the Republic of India, at least 18 years of age, legally competent to contract under the Indian Contract Act, 1872, and possessing a valid Permanent Account Number (PAN) and Aadhaar identification.
Acceptance & Modifications of Terms
Accessing or browsing the Platform constitutes unambiguous electronic acceptance of these Terms. CoverMantra reserves the right to periodically amend, modify, or update these terms to comply with regulatory changes or operational enhancements. Continued use after revisions constitutes binding consent.
User Account & Security Responsibility
Users must provide accurate, current, and complete personal and financial data. You are solely responsible for maintaining the confidentiality of one-time passwords (OTP), authentication tokens, and login credentials, and for all activities that occur under your session.
Privacy & Data Confidentiality
All personally identifiable information (PII) is processed strictly in accordance with the Digital Personal Data Protection (DPDP) Act, 2023 and RBI Digital Lending Directions (2022). By submitting loan requests, you grant express consent to transmit required KYC documents to registered lending partners solely for underwriting.
License to Access Platform
CoverMantra grants you a limited, revocable, non-exclusive, non-transferable license to access the Platform strictly for personal, non-commercial loan discovery. Web scraping, automated robotic querying, reverse engineering, or unauthorized data aggregation is strictly prohibited.
Monitoring & Fraud Prevention
CoverMantra actively monitors platform activity to detect cyber anomalies, synthetic identities, document fraud, or malicious queries. We reserve the statutory right to freeze access and report fraudulent submissions to relevant regulatory authorities and cybercrime cells.
Suspension & Termination of Access
CoverMantra reserves the unrestricted right to suspend, terminate, or restrict user accounts or IP addresses without prior notice in cases of suspected breach of these terms, misleading financial submissions, or regulatory sanctions.
Limitation of Liability
CoverMantra, its directors, officers, and employees shall not be liable for any indirect, incidental, punitive, or consequential damages resulting from loan rejections, delays in lender sanction, platform downtime, or terms between the borrower and the partner NBFC.
Borrower Indemnification
You agree to indemnify, defend, and hold harmless CoverMantra Services Private Limited against any claims, losses, liabilities, costs, and expenses (including legal fees) arising from your violation of these terms or misrepresentation of statutory financial information.
Third-Party External Links
The Platform provides hyperlinked redirects to licensed partner websites for final underwriting. CoverMantra does not endorse or control external third-party infrastructure and is not responsible for their independent terms or technical outages.
Statutory Fee Transparency
CoverMantra does not collect any upfront security deposits, application fees, or advance sanction fees from consumers. All processing fees and loan charges are determined by the partner lender and deducted transparently from the disbursed loan amount as documented in the Key Fact Statement (KFS).
Governing Law & Legal Jurisdiction
These Terms and Conditions shall be governed by, construed, and enforced in accordance with the laws of the Republic of India. In the event of any legal dispute or proceeding, the competent courts in New Delhi shall have exclusive jurisdiction.
Nodal Grievance Redressal Officer
In compliance with the RBI Digital Lending Directions (2022) and the Information Technology Rules, 2021, consumers may direct any dispute or service concern to our designated Nodal Officer:
CoverMantra Services Private Limited
CIN: U46109DL2024PTC438732
Operating strictly under RBI Digital Lending Guidelines (2022). No cash collections.
DPDP Act (2023) compliant. ISO 27001 data center infrastructure.