Last updated: November 01, 2024

By using Vanquis Cards offered by Buddy Finance, you agree to the following terms and conditions:

General Terms and Conditions

1. The fees for the Vanquis Card won't be reimbursed Under any circumstances.

2. The company will only accept the charge on the Vanquis Card; it will not accept any other payments.

3. It should be emphasised that the company's Vanquis Card is not an ATM, debit card, or credit card. This card must be used to access loans and some other corporate advantages.

4. It should be noted that the loan application will only be submitted once the customer purchases the RBS Nidhi Limited Vanquis Card. This is important to know in the event that a customer sees any advertisements or promotional content of RBS Nidhi Limited and then contacts the company in the hopes of getting the loan approved based on the advertisement. Even after purchasing a Vanquis Card, the ultimate loan approval is still based on the bank or banks and the client profile. The consumer won't be eligible for a loan if their profile doesn't fit the requirements. However, they are still able to utilise the Vanquis Card's many other features and advantages.

5. This Vanquis Card may be used by either the client or the referrer.

6. Only the company will release the reward for that customer if a customer reference makes a payment using the customer's own referral link, which is issued by the company - and if it appears in the customer's portal.

7. Even if a customer's loan is accepted by our company but they choose not to accept it, the Vanquis Card payments will not be reimbursed.

8. The login department's decision would be final for your loan process.

9. The OTP, documents and cheques asked by the company's employee are for loan purposes - if any issue/problem arises in future, the company won't be responsible for the same.

10. If you do not share the OTP (for loan purposes) with the company's employee, your file will be rejected. As per the criteria, if your file matched without OTP, the loan will be processed further.

11. If the company executive asks you to share any transaction OTP, kindly do not share it.

12. In case any customer has any questions/queries regarding the loan process, they have to contact that department where their file is being processed.

13. We will verify your documents in multiple banks; so whatever documents are submitted by customers in our company that will match with any bank criteria, in that bank only we will proceed with the loan process. (For instance, if your file will match in 3 banks then our company's login department will log in your document only on that 3 banks. The verification is done by the company's employee. The company or bank won't provide any proof for that.

14. Your loan documents will be verified by the company in multiple banks. If the documents match the bank criteria, then the login process will be done in that bank. In case it doesn't match, the company will provide a solution which you can consider and reapply.

15. It is not fixed that the customer file will be logged in only certain banks. It may be verified in other banks also, depending on the customer file.

16. The company doesn't charge anything extra other than the Vanquis Card fees. If any other external person or third-party charges you then our company won't be responsible for the same.

17. The company doesn't charge for processing or file charges for customer loan approval. Only the Vanquis Card fee is charged by the company.

18. If a customer file is logged in uncoded banks, then the customer has to pay charges separately.

19. The customer files will be logged in by the company according to the customer's requirements. For instance, If the customer requirement is INR 2 lakhs and if some bank criteria is up to INR 1 Lakh then we will not log in customer file in that bank.

20. If the customer shares their profile and asks us whether the loan will be approved or not; so, the answer to this question would be - the loan approval estimated ratio is 60% and 40%. It means that there are 60% chances of approval and 40% chances of rejection. So, If your file gets rejected in our company then the customer shouldn't argue for that. Because the company is not taking any guarantee for the loan.

21. Even if the customer file is rejected in our company, any bank can reopen that file for processing. But code activation time is dependent on various banks, ranging from 3 to 4 months. If approval will come from that bank within that code activation time then only company reference would be applicable. So, the customer would not have any doubt that the loan has been taken from his/her own or someone else's reference. After a code deactivation, if the loan is approved by that bank then there is no responsibility of our company.

22. Wherever the customer file is logged in by the company, such information and details will not be given to any customer in written or digital form.

23. All the documents submitted by the customer are safe and secure in our company. We are using those documents only for loan purposes. In case the documents are misused by any other sources, then the company won't be responsible for the same.

24. Loan offers and pre-approval loans process is dependent only on the bank's rules and that type of loan will be given only on customer behaviour. So, there exists some difference between that type of process and the company's process. In case that loan is approved by another company then the customer can't blame our company.

25. Loan approval depends on your profile so if your documents are perfect then you will get a loan from our company.

26. Any information regarding the loan is only provided to that person who has applied for the loan.

27. During the loan processing time, if any customer would not be in contact with us for 3 days, then that file will be rejected by our company.

28. In case your file is rejected in our company, then the customer has to ascertain that they re-submit their documents with the solution in our company after a period of 6 months.

29. The company won't be responsible in case the customer loan is rejected by queries.

30. In case your file gets rejected in our company, then also the Vanquis Card payment remains non-refundable.

31. After processing, in case the customer cancels the file, then also the Vanquis Card payment remains non-refundable.

32. If the customer will apply for the first time but his/her loan is rejected in our company then the company will give them reason and solution for that. So at re-applying time, if the customer will not re-submit the file with a solution then the file will again face rejection in our company for the same reason.

33. The company will give only the reason for rejection to the customer and it would not be provided in hard or soft copy. Banks only provide general reasons, they don't give us the specific reason - so the customer should not complain about that.

34. The customer must give correct information about their CIBIL SCORE and PROFILE. If the customer will provide the wrong information, then the company holds no responsibility for loan rejection.

35. Under any situation, the company will not be providing any CIBIL REPORT or VALUATION REPORT in digital or hard copy to any customer.

36. Bank charges are applied according to the banks' rules and regulations.

37. In case a customer submits fake documents, the company will take legal action against that customer.

38. After logging in your file, the customer has to contact only the login department - and not any telecaller or other department.

39. The person who has already applied for a loan in the same bank, then our company will not apply in that bank.

40. During the loan process if the rules of any bank change, then the company will have to follow those new rules.

41. Only the person who needs a loan has to apply for the loan process.

42. The customer has to give their registered phone number so that the login department can contact the customer.

43. Once the loan process is completed, the customer has to cancel their cheque by visiting the concerned bank only.

44. At the time of loan processing, if the company gets any queries and it is not solving that in the given time, then the company can take more time for that. So, the customer must not argue or complain about this.

45. In case the customer wants to reapply in our company after file rejection or approval, then the customer has to re-submit their documents in the customer login menu.

46. When you are applying for a loan on our website, we are showing you only your Eligibility for the loan. So whatever details you enter on the website are accepted by software only, and that only shows your pre-approval and not your final loan approval. The final loan approval depends on your documents. We are not giving you any guarantee for the final loan approval.

47. The Vanquis Card is shown on our websites during the processing time, which are only for demo purposes. So that's not your real Vanquis Card. In that, whatever details are entered by the customer are accepted by the software and the system shows you the pre-approval depending on the customer details. The customer will get a card after completing the entire process of the loan on our website.

48. The company's privacy policy, terms and conditions are also applicable to marketing and advertising.

49. Our marketing contains advertisements, page updates, posts, videos, SMS, E-mails, banners, social media updates or any type of content.

50. The third-party payment sources execute the customer's payment. So, whenever payment would be received by the company then only the Vanquis Card will be generated. If a customer's payment would be debited from their account but the company doesn't receive any payment in the company's account then the company holds no responsibility for the same.

51. Account verification is compulsory for any customer's payout. If your account is not verified in our company and once payment is credited from the company's account then the company is not responsible for answering any of the questions/queries/doubts.

52. Our company is a private limited company and we are tied up with banks so we are providing loans through banks only.

53. Multiple banks' logos are displayed on our portal - they are shown only for our company's marketing purposes. That banks' logos only reflect that our company is tied up with those banks. That's not any bank's advertisement.

54. In case a person takes any legal action against the company, only the company's legal advisor would be dealing with that; and Kolkata, West Bengal will only remain the junction for any legal procedure. No one would be able to contact any employee or director of our company.

55. A verbal/vocal statement won't be accepted. Only the signed agreements would be acceptable for any customer.

56. The detailed terms and conditions are with the head office which is the main base to all the above-stated terms and conditions.

57. For purchasing a Vanquis Card, there are no age eligibility criteria. Still, everyone has to follow the Banks and NBFCs' age criteria.

58. Regarding the referral payout, the customer has to complete the payout agreement with the company. No payout will be given to anyone without an agreement.

1. Eligibility: Vanquis Cards are available to individuals who meet the eligibility criteria set by our lending partners. Please ensure that you fulfill the requirements before applying.

   To be eligible for Vanquis Cards offered by Buddy Finance, you must meet the following criteria:

   1. Age: You must be at least 21 years old to apply for a Vanquis Card.
   2. Citizenship: Vanquis Cards are available to Indian citizens and permanent residents.
   3. Employment: You should have a stable source of income, whether salaried or self-employed.
   4. Creditworthiness: Your credit history and repayment capacity will be considered during the application process.
   5. KYC Compliance: Complete the Know Your Customer (KYC) verification process as required by our lending partners.
   6. Document Verification: Provide accurate and valid documents to support your loan application.

   Meeting these eligibility requirements will increase your chances of getting pre-approved Vanquis Cards and accessing personalized loan offers from our partner banks and NBFCs.

2. Loan Offers: The Vanquis Card provides access to pre-approved loan offers from our partner banks and NBFCs. The loan offers are subject to the lender's assessment and discretion.

   At Buddy Finance, we bring you a diverse range of loan offers tailored to your financial needs. Here's what you can expect:

   • Personalized Loan Options: Get access to a wide array of loan options customized based on your credit profile, income, and repayment capacity.
   • Competitive Interest Rates: Our partner banks and NBFCs offer competitive interest rates, making borrowing more affordable.
   • Flexible Tenure: Choose a tenure that suits your financial planning, ranging from short-term to long-term options.
   • Quick Approval: Our streamlined process ensures fast loan approvals, empowering you to fulfill your financial requirements swiftly.
   • Easy Application: Applying for loans through Buddy Finance is hassle-free, saving you time and effort.
   • No Collateral Required: Many of our loan offers are unsecured, meaning you won't need to provide collateral.
   • Transparent Terms: We believe in transparency. All terms and conditions are clearly presented to help you make informed decisions.
   • Multiple Lenders: Access loan offers from multiple trusted lenders on a single platform, allowing you to compare and choose the best deal.
   • Loan Amount Flexibility: Borrow as per your requirement, ranging from small amounts to substantial sums.
   • Secure Transactions: Your financial information and transactions are secured with advanced encryption protocols.

   Unlock your borrowing potential with Buddy Finance. Download our app now and explore a world of loan offers tailored just for you!

3. KYC Verification: Complete the KYC process to enhance your loan eligibility and access better loan offers. Provide accurate and up-to-date information during the application process.

   To complete the Know Your Customer (KYC) verification process at Buddy Finance, we require the submission of two essential documents:

   • Aadhaar Card: Your Aadhaar card, issued by the Unique Identification Authority of India (UIDAI), serves as a primary identity proof. It contains your unique 12-digit Aadhaar number, biometric data, and demographic details.
   • PAN Card: The Permanent Account Number (PAN) card, issued by the Income Tax Department of India, is a crucial document for financial transactions and taxation purposes.

   our data privacy is of utmost importance to us, and we handle your documents with the highest level of security and confidentiality in accordance with our comprehensive Privacy Policy.

   At Buddy Finance, safeguarding your personal information is our top priority. We want you to feel confident and secure during the KYC (Know Your Customer) verification process. To maintain the highest level of data privacy, we DO NOT collect KYC document images.

   Instead, we utilize a secure and reliable KYC validation process that involves requesting your unique ID number, such as your Aadhaar number or PAN card details. Through this method, we ensure that your sensitive documents remain safe within your possession.

   Furthermore, our stringent validation procedures include cross-referencing your information with central KYC records (cKYC). This approach allows us to verify your details accurately and efficiently, without the need for document images.

   Rest assured that your personal data is treated with the utmost confidentiality, and we adhere strictly to our comprehensive Privacy Policy. Your trust in Buddy Finance is essential, and we are committed to maintaining a secure environment for all our users.

   By prioritizing your data privacy and employing advanced KYC validation techniques, we aim to make your journey with us seamless and stress-free. Experience the convenience of secure KYC compliance, as we unlock personalized financial offerings tailored just for you.

   Join us today and embrace a secure financial future with Buddy Finance. Download our app and embark on a trustworthy and privacy-conscious financial experience.

4. Interest Rates and Fees: nterest rates and processing fees may vary based on individual creditworthiness and the lender's policies. Review the loan terms carefully before accepting any offer.

   At Buddy Finance, we believe in transparency and providing you with a clear understanding of the costs associated with our financial services. Here's an overview of the interest rates and fees that you may encounter:

   • Interest Rates: The interest rate on loans varies based on factors such as your creditworthiness, loan amount, and tenure. Our partner banks and NBFCs offer competitive interest rates starting from 13% per annum.
   • Processing Fee: Some loan products may have a one-time processing fee, typically a percentage of the loan amount. This fee covers administrative costs associated with processing your loan application.
   • Late Payment Charges: It is essential to adhere to the agreed-upon repayment schedule. Late payments may attract additional charges, affecting your credit profile.
   • Prepayment Charges: Some loan products may have prepayment charges if you choose to repay the loan before the agreed tenure. However, certain loans may offer the flexibility of prepayment without any additional fees.
   • GST and Other Taxes: Applicable Goods and Services Tax (GST) and other taxes may be levied on the interest and fees, as per the prevailing regulations.

   We recommend carefully reviewing the terms and conditions associated with each loan offer to understand the specific interest rates and fees applicable. Our user-friendly app provides detailed information about each loan product, empowering you to make informed financial decisions.

   Remember that the interest rates and fees offered to you depend on your credit profile, financial history, and the lender's policies. We aim to connect you with the most suitable financial solutions to meet your unique needs.

   For a comprehensive breakdown of the interest rates and fees, explore our range of loan offers through Buddy Finance. Download our app now and embark on a journey towards financial empowerment!

5. Data Privacy: Your personal and financial information is securely handled and protected in accordance with our Privacy Policy.

   At Buddy Finance, we value your trust and prioritize the security and privacy of your personal data above all else. Rest assured that we employ stringent measures to safeguard your information and adhere to industry-leading data protection standards. Here's how we ensure your data privacy:

   • Secure Data Handling: We employ state-of-the-art encryption protocols to protect your personal information from unauthorized access and cyber threats.s
   • Limited Data Collection: We only collect the essential data required for the services we provide. Rest assured that we DO NOT collect unnecessary or intrusive information.
   • Explicit Consent: Your consent is paramount to us. We seek your explicit permission before processing any personal data and ensure that you have full control over your information.
   • Confidentiality Guarantee: Your data remains confidential and is never shared with any third parties without your explicit consent, except for our trusted lending partners for processing loan applications.
   • Comprehensive Privacy Policy: Our Privacy Policy clearly outlines how we collect, use, and protect your data. We encourage you to review the policy to understand how your information is handled.
   • Continuous Compliance: We stay up-to-date with the latest data protection regulations to ensure ongoing compliance and best practices in data privacy.
   • Data Anonymization: When analyzing user behavior for improvements, we anonymize data to protect your identity and maintain anonymity.
   • Secure Transactions: For financial transactions, we employ secure and trusted payment gateways to protect your financial information.

   Your data privacy is our utmost responsibility, and we are committed to creating a safe and trustworthy environment for all our users. Our dedication to data security is an integral part of our commitment to providing a seamless and secure financial experience.

   Join Buddy Finance today and experience the peace of mind that comes with knowing your data is in safe hands. Download our app and embark on a secure financial journey with us!

6. Loan Approval: While the Vanquis Card offered by Buddy Finance provides access to exclusive loan offers, we want to emphasize that the Vanquis Card does not guarantee final loan approval. The final decision regarding loan approval and disbursal lies solely with our esteemed lending partners, who conduct thorough verification and validation processes.

   Here's what you need to know:
   • Comprehensive Assessment: Our lending partners carefully review your loan application, credit history, income, and other relevant factors to determine your loan eligibility.
   • Eligibility Criteria: Each lending partner has specific eligibility criteria, and meeting those requirements is essential for successful loan approval.
   • Creditworthiness: Your credit history plays a significant role in the approval process. A healthy credit score can improve your chances of securing a loan.
   • Document Verification: Ensure all provided documents are accurate and up-to-date. Any discrepancies may delay the approval process.
   • Processing Time: Loan approval and disbursal timelines may vary based on the lender's internal processes.
   • Loan Amount and Tenure: The final loan amount and tenure may be subject to the lender's assessment of your financial capacity.
   • Additional Requirements: Some lenders may request additional documents or information to complete their verification.
   • Data Privacy: Rest assured that your personal and financial information is handled with utmost security and in compliance with our Privacy Policy.

   We encourage you to maintain open communication with our lending partners and promptly respond to any requests they may have during the verification process. Remember, transparency and accuracy in providing information will enhance your chances of loan approval.

   As always, we are committed to guiding you through your financial journey and empowering you with valuable loan options. The Vanquis Card is your key to accessing tailored loan offers, so download Buddy Finance now and explore a world of financial possibilities!

7. Responsibility: Borrowing money involves financial responsibility. Assess your repayment capacity before availing of any loan.

   At Buddy Finance, we firmly believe in operating with a strong sense of responsibility towards our users and the world we live in. We are committed to making a positive impact in the following ways:

   • User Empowerment: Our mission is to empower users with easy access to financial services, helping them make informed decisions to improve their financial well-being.
   • Transparency: We prioritize transparency in all our dealings, ensuring that our users have a clear understanding of the terms, conditions, and fees associated with our financial products.
   • Data Privacy: Safeguarding your personal data is our top priority. We adhere to strict data privacy measures, ensuring that your information is protected and used only with your explicit consent.
   • Responsible Lending: We work with responsible lending partners who follow ethical practices and provide fair and transparent loan products.
   • Environmental Consciousness: We strive to minimize our environmental impact by promoting paperless processes and adopting eco-friendly practices wherever possible.
   • Financial Literacy: We are dedicated to enhancing financial literacy among our users, empowering them to make sound financial decisions and build a secure financial future.
   • Customer Support: Our customer support team is always ready to assist and address any queries or concerns you may have, providing a seamless and personalized experience.
   • Compliance: We diligently adhere to all relevant laws, regulations, and industry standards to ensure compliance and build trust with our users.
   • Community Initiatives: We actively participate in community initiatives, supporting causes that promote financial inclusion and sustainable development.
   • Continuous Improvement: We constantly seek feedback from our users to enhance our services and make your experience with Buddy Finance even better.

   Our commitment to responsibility extends to every aspect of our operations, empowering you to make confident financial decisions while contributing to a more responsible and sustainable world.

   Join us on this journey of responsibility and empowerment. Download Buddy Finance now and experience the positive impact of responsible financial services.

8. Dispute Resolution: Any disputes arising from the use of Vanquis Cards shall be subject to the laws and jurisdiction of Courts in Kolkata.

   At Buddy Finance, we are committed to providing a seamless and satisfactory experience to all our users. However, we understand that disputes or issues may occasionally arise. In such cases, we follow a transparent and structured Dispute Resolution process to ensure fair and efficient resolution.

   • Open Communication: We encourage users to communicate any concerns or disputes they may have with us directly. Our customer support team is here to listen, understand, and assist you through the resolution process.
   • Prompt Acknowledgment: Upon receiving your dispute, we promptly acknowledge the issue and provide you with a reference number for tracking purposes.
   • Thorough Investigation: We conduct a thorough investigation, analyzing all relevant information and documentation to better understand the situation.
   • Fair Assessment: Our team carefully assesses the dispute, considering all applicable terms, conditions, and policies. We aim to arrive at a fair and just resolution that aligns with our commitment to user satisfaction.
   • Timely Updates: Throughout the process, we keep you informed of the progress and expected timelines for resolution.
   • Mutual Agreement: We strive to reach a mutual agreement that satisfies both parties. Our goal is to find a solution that respects your needs while adhering to our policies and obligations.
   • Dispute Escalation: If, for any reason, the dispute remains unresolved, we provide information on escalation channels or independent authorities that you can approach for further assistance.

   Please note that we value your feedback and use dispute cases as learning opportunities to continuously improve our services.

   In the event of a dispute, we encourage you to reach out to our customer support team as the first point of contact. Our dedicated team is here to address your concerns and work towards a fair resolution.

   Your trust in Buddy Finance is essential to us, and we are committed to ensuring that our Dispute Resolution process reflects our dedication to transparency, fairness, and user satisfaction.

9. Refund and Cancellation Policy: The Vanquis Card fee is non-refundable. If you choose to cancel your Vanquis Card application before availing any loan offers, please note that the Vanquis Card fee is non-refundable, and no refund will be initiated. Once a loan has been availed through the Vanquis Card from our lending partners, the refund won't be processed.

   At Buddy Finance, we understand that circumstances may change, and we strive to provide a fair and transparent refund and cancellation policy for our Vanquis Cards. Here's how it works:

   • Cancellation Before Loan Availment: If you decide to cancel your Vanquis Card application before availing any loan offers, you are eligible to initiate the cancellation process.
   • Refund Eligibility: The Vanquis Card fee is non-refundable, and there will be no refund under any circumstances. Once a loan has been availed through the Vanquis Card from our lending partners, refunds will not be processed. This policy ensures clarity and transparency regarding the non-refundable nature of the Vanquis Card fee.
   • Loan Availment Exclusion: Once a loan has been availed through the Vanquis Card from our lending partners, the Vanquis Card fee becomes non-refundable. Refunds will not be processed under any circumstances once the Vanquis Card has been utilized for loan availment.
   • Prompt Customer Support: If you have any questions or concerns regarding the refund and cancellation process, our dedicated customer support team is here to assist you. Feel free to reach out to us for guidance.

   We want to ensure that you have a smooth and hassle-free experience with Buddy Finance. While we strive to accommodate refund requests, it's important to review our Refund and Cancellation Policy to understand the specific eligibility criteria.

   This policy is in accordance with our commitment to providing transparent and reliable financial services. For any further clarification, please reach out to our customer support team.

10. Modifications: We reserve the right to modify or update the terms and conditions at any time. Check this page periodically for any changes.

By accepting and using Vanquis Cards, you acknowledge and agree to abide by these terms and conditions. If you disagree with any part of these terms, please refrain from using the Vanquis Cards.

For any questions or concerns, contact our support team at support@buddyfinance.in or call us at 011-6926-1584.