Welcome to Loan Sphere (“App”). These Terms of Service (“Terms”) govern your access to and use of the loan services provided through the Loan Sphere platform. Please read these Terms carefully before using our services. By accessing or using the App, you agree to be bound by these Terms. If you do not agree, you should not use the App.
The Loan Sphere App is operated by YULAN MARKETING PRIVATE LIMITED, a registered Non-Banking Financial Company (NBFC), incorporated under the Companies Act, 1956, with CIN: U51909WB1994PTC062496, having its registered office at 4 Raja Wood Munt Street, 4th Floor, Kolkata, West Bengal – 700001, India. The company was incorporated on 23rd March 1994 and is duly authorized to provide financial services.
To use the Loan Sphere App, you must:
Be an individual resident of India.
Be at least 18 years of age.
Possess valid identification documents such as PAN Card and Aadhaar Card for KYC verification.
Have a valid and active bank account in India for loan disbursement and repayment.
By using the App, you represent and warrant that the information you provide is true, accurate, and complete. Any false or misleading information may lead to suspension or termination of your account.
Loan Sphere provides access to instant personal loans through the platform. The services include but are not limited to:
Enabling users to apply for loans digitally.
Processing applications through KYC and creditworthiness verification.
Disbursing approved loan amounts directly into the user’s registered bank account.
Providing repayment facilities via UPI, Net Banking, Debit Card, or Auto-Debit.
The availability and approval of loan services are subject to YULAN MARKETING PRIVATE LIMITED’s internal policies, credit assessments, and regulatory requirements.
When using Loan Sphere, you agree to:
Provide accurate, complete, and up-to-date information during registration and loan application.
Use the App only for lawful purposes and not for fraudulent or unauthorized activities.
Repay the borrowed loan amount along with applicable interest and fees within the agreed tenure.
Promptly notify us of any changes to your personal or financial information.
Failure to comply with these responsibilities may result in denial of services, penalties, or legal action.
The loan amount, tenure, applicable interest rate, and fees will be displayed to you within the App before you confirm your loan application.
Interest is calculated on a daily reducing balance basis unless otherwise specified.
Processing fees, convenience fees, or other applicable charges may be deducted from the loan amount at the time of disbursement.
Any applicable taxes, including GST, will be charged as per prevailing laws.
Loan Amount Range: ₹1,000 – ₹60,000
Loan Tenure: 91 – 180 days
Interest Rate: 0.06% per day
Processing / Service Fee: 2% (including GST)
Late Payment Charges: 0.1% per day
Extension Fee: 1% (if loan is extended)
Annual Percentage Rate (APR): 21.9% – ~25% (depending on tenure and applicable fees)
Example Calculation (Representative Loan Cost):
Loan Amount: ₹10,000
Tenure: 180 days
Service Fee (2%): ₹200
Net Disbursed: ₹9,800
Interest (0.06% per day): ₹1,080
Total Repayment: ₹11,080
Effective APR: ~24–25%
Note: This example is illustrative. Actual repayment amount may vary depending on the loan amount, tenure, service fees, late payment charges, or extension fees.
You are required to repay the loan within the agreed tenure through the repayment methods available in the App (UPI, Net Banking, Debit Card, Auto-Debit).
Early repayment is permitted, subject to the conditions specified in your loan agreement.
Failure to maintain sufficient funds in your repayment account may lead to additional charges or penalties.
You will be considered in default if you:
Fail to repay the loan or any installment on the due date.
Provide false, misleading, or incomplete information during your loan application.
Violate any material terms of this agreement.
Consequences of default may include:
Late payment charges and penalty interest.
Reporting of your default to credit bureaus, which may affect your credit score.
Collection actions, which may involve third-party collection agencies.
Legal proceedings as permitted under applicable laws.
We collect, process, and store your personal and financial information strictly for the purpose of providing loan services, verifying your identity, assessing creditworthiness, and complying with regulatory requirements.
Your data will be handled in accordance with our Privacy Policy, which forms an integral part of these Terms.
We implement reasonable technical and organizational measures to protect your data from unauthorized access, misuse, or disclosure.
By using the App, you consent to the collection and use of your information as described in the Privacy Policy.
These Terms shall be governed by and construed in accordance with the laws of India.
Any disputes arising out of or in connection with the use of the App or loan services shall be subject to the exclusive jurisdiction of the courts located in Kolkata, West Bengal, India.
You agree to submit to such jurisdiction and waive any objection to the venue of such proceedings.
For any queries, complaints, or support requests, you may contact us at:
support@yulanmarketing.com
Phone: 7384073787
Addres: 4 Raja Wood Munt Street, 4th Floor, Kolkata, West Bengal – 700001, India