Loan Agreement

This document outlines the terms and conditions of your loan agreement with Solemn Finance and Leasing Private Limited (“the Lender”, “we”, or “us”). By submitting a loan application through the Pesa Bora mobile app and accepting an approved offer, you agree to the terms below.

1. Parties Involved

• Lender:
  Solemn Finance and Leasing Private Limited
  CIN: U65921DL1996PTC083845
  Registered Address: 7, Paschim Enclave, Main Rohtak Road, New Delhi 110087

• Borrower:
  The individual user who registers and applies through the Pesa Bora application (“you”).

2. Loan Terms at a Glance

• Loan Amount Range: 100,000 to 2,000,000

• Repayment Period: 91 to 270 days

• Maximum APR: 22% (fixed)

• Processing Fees: None

• Other Charges: None

You will never be charged more than the stated APR. We do not charge service fees, hidden costs, or prepayment penalties.

3. Example Cost Breakdown

If you borrow 100000 for 91 days at a fixed APR of 22%, interest is calculated as:
100,000 × 0.22 × 91 ÷ 365 = 548

Your total repayment will be:
100,000 (principal) + 548 (interest) = 100,548

All loan offers will show exact figures before you accept. The APR is fixed and always disclosed upfront.

4. Who Can Apply

To be eligible for a Pesa Bora loan, you must:

• Be between 20 and 58 years old

• Hold a valid national ID

• Own a local mobile wallet in your name

• Provide accurate and complete information

• Meet our internal credit criteria

5. How It Works

1. Download Pesa Bora from the official app store

2. Register and verify your mobile number

3. Submit personal and ID details

4. Select a loan amount and repayment term

5. Review and accept the offer if approved

6. Receive the funds directly to your mobile wallet

You will be notified of approval status via app, SMS, or email. The loan is disbursed only after you accept the final terms.

6. Repayment Terms

• Repayment is due on or before the final date in your repayment schedule.

• You may repay early at any time — interest will be recalculated accordingly.

• Payment is made via your mobile wallet or any method listed in the app.

7. If You Miss a Payment

• Missed or late payments may result in default interest, reporting to credit bureaus, or recovery action under local laws.

• If you expect difficulty making a payment, contact us early for possible arrangements.

8. Our Fee Policy

We charge no:

• Application or processing fees

• Service or disbursement fees

• Prepayment or early settlement fees

You repay only the principal and interest, as shown clearly in your repayment summary.

9. Use of Your Information

Your personal and device data is used strictly for:

• Verifying your identity

• Assessing credit risk

• Servicing the loan

• Meeting legal requirements

• Preventing fraud

We comply with our Privacy Policy and never sell your data.

10. Your Responsibilities

By accepting a loan, you confirm:

• All submitted details are true and complete

• You understand the full cost of borrowing

• The loan will not be used for illegal purposes

• You will repay as agreed

11. Changes to Terms

We may update this agreement in response to legal, regulatory, or operational needs. Changes will be communicated through the app. Continued use of Pesa Bora means you accept the revised terms.

12. Legal Framework

This agreement is governed by Indian law, based on the jurisdiction of our registered office in New Delhi. Disputes will be resolved through competent local courts.

13. Contact Us

Need help? Reach out:

Email: finance@solemnfinance.com
A customer care agent will respond within the timelines required by law.