CREDIT REPORT TERMS OF USE

Overview

This document was last updated on 02/12/2024

This Credit Report Terms of Use should be read in conjunction to the Privacy Policy, Site Terms of Use and Disclaimers of the Site and shall collectively be referred to as “Agreement”.

This document (“Credit Report Terms of Use”) is published in compliance with the provisions of Information Technology Act, 2000 (as amended from time to time) and all other Applicable Laws, Guidelines, Rules & Regulations.

In this policy,

"Affiliates" means, in relation to any person, any entity that directly or indirectly controls, is controlled by, or is under common control with, the person, where the term ‘control’ shall have the meaning assigned to it in the Companies Act, 2013, as amended from time to time.
"Applicable Laws" includes any applicable constitution, statute, law, rule, regulation, ordinance, decree, order, judgement, authorization, or any directive, guideline, requirement or government restriction having the force of law, or any determination by, or interpretation of any of the foregoing by, any judicial authority, whether in effect as of the date of the Agreement or thereafter and each as amended from time to time within the jurisdiction of India.
“Bureau” shall mean credit information company including but not limited to TUCL, CRIF High Mark, etc., which is authorized under Applicable Laws of India to provide comprehensive credit information by collecting, collating, and issuing credit information, pertaining to both commercial and consumer borrowers, to a closed User group of members. In relation to provision of the Services mentioned herein.
“Credit Report Terms of Use” shall mean the terms of use, pertaining to the credit information company and relevant terms of the Site, for enjoying the Services of availing the credit report as offered on the Site. Such Credit Report Terms of Use shall always be read with Site Terms of Use, Privacy Policy and Disclaimers of the Site.
“Partner” means banks, nonbanking financial institutions, housing finance companies, insurance companies, fintech companies, Bureau and such other financial institutions which are regulated by RBI, SEBI, IRDA either directly or indirectly etc. whereas BFDL has an arrangement with them for offering their products on the Site.
“Site” means any web site, mobile site, or application, owned, and operated by us.
“Service” means using our products, software, services, as available on our Site and any products offered by our Partner’s on our Site.
“Service Provider” means any authorized Service Provider engaged by BFDL thereby enabling us to offer Services on Site.
“We,” “us,” and “our” means Bajaj Finserv Direct Limited (“BFDL”);
"I", “You” and “your” “User” mean anyone who visits, accesses, or uses our Site or obtains Services from us through our Site.

The Services rendered by BFDL are exclusively intended for individuals who are citizens of India and residing in India and are above 18 years of age. By accessing the Site and/or using the information provided on or via this Site, you agree that you have gone through the Site Terms of Use, Privacy Policy and you agree to the terms of use as stated under the following. If you do not agree with the terms of use stated hereunder, you shall not access, visit and/or use the Site and avail our Service.

User Declaration

By using this Site, you confirm that you are a resident of India and have attained the age of at least 18 years, and you are legally entitled to enter into a binding contract and that you are not a person barred from receiving Services under the Applicable Laws of India and will only use the Site to make legitimate transactions for you or for another person for whom you are legally authorized to act (and will inform such other persons about the Site Terms of Use, Credit Report Terms of Use and Privacy Policy) that apply to the interactions you have made on their behalf (including all rules and restrictions applicable thereto). You also confirm that the statements, answers and/ or information given by you are true and complete in all respects and that you are authorized to avail the Services on behalf of other person(s).

You agree that you have appointed BFDL as your lawful agent for the purposes including but not limiting to receive your credit information from Bureau and to keep record of day-to-day changes in your credit information for the purpose of getting alerts on your behalf at intervals in order to deliver your Credit Report to you. The format of such consent from Bureau is covered in the following paragraphs.

You are aware that BFDL will get these updates from Bureau(s) and may notify you at intervals. You realise that it is important to stay aware of changes to your credit actions and transactions that may impact your credit score and access to various credit products. You explicitly authorise BFDL as an appointed agent to monitor all changes in your credit information and consequently, notify you of such changes and send offers related to credit products and recommendations to you, to take necessary actions and reduce the possibility of exposing you and to prevent you from adverse impact on your credit score. You understand that Credit Report is based on changes in your credit score, and you may receive incorrect Credit Report, hence, BFDL shall not be responsible in any manner for the same. In view of the above terms, you provide your explicit consent on the following:

That you may receive communication on Credit Report from BFDL or through its authorized Service Providers, via pop-up notifications, SMS, WhatsApp, email, on the BFDL digital platform.
That in the event of any update on or change in my credit information and/or credit score, BFDL may send communication/update on my registered Mobile Number/Email.

By accepting these terms and conditions; I am providing “written instruction” to BFDL to obtain my credit information from Bureau(s). I further authorize BFDL to share my personal identifiable information with the Bureau(s), to confirm my identity and to obtain the credit information on my behalf.

I undertake that the information provided by me is true and accurate and shall match with the details provided by me to the banks and other credit institutions with whom I have relationship. I understand that I shall have access to the Credit Report upon login using my registered User ID on BFDL’s Site. I also understand that I may have to further authenticate myself as per the Bureau authentication process. I understand that BFDL shall have all the rights to reject my request form due to any reason and shall not be required to specify such reasons of rejection. I understand that due to incomplete or incorrect information provided my me; I may receive incorrect Credit Report; BFDL shall not be responsible in any manner for the same.

I understand that BFDL obtains the information from Bureau and is reported to me on “as is” basis and shall not be required to verify the correctness of information received. Therefore, I shall not hold BFDL accountable for the accuracy, completeness or fitness for a particular purpose, or non-infringement of any and all such information as provided in the report to me. The analysis or recommendation provided as part of the Services is based on certain assumptions applied by BFDL on the information obtained from me or the data it already has.

I realize the information contained in the Credit Report is for illustrative and information purposes only and does not constitute as professional advice or solicitation and BFDL thereby holds no liability. I understand that BFDL may enrich the information in the Credit Report based on my past credit information held with BFDL to make more personalized recommendations to me. The report may contain certain proprietary information of BFDL and is meant only for use for the receiver of the report and I undertake not to circulate the report to any other person/entity. I shall not hold BFDL liable or responsible whether financial or otherwise, for the losses or damages caused directly or indirectly, for any action taken by me placing reliance on this report. I shall have sole responsibility of my actions and decisions. I acknowledge that BFDL shall have no liability or require to indemnify me for loses, claims, expenses, damage incurred by me for any incorrect report provided due to any technical error, incorrect information provided by me or otherwise.

Offers and Recommendations

Payment Terms:

I agree to pay the charges for the subscription for availing the Credit Report, as stipulated by BFDL from time to time, as applicable. I understand that there may be additional charges for use of payment gateway or bank charges which may be applicable for payment of charges of subscription. BFDL shall not be liable to refund in case of any cancellation, rejection or no credit information report being generated based on the information provided by me. The charges shall be inclusive of all taxes, fee including payment gateway charges if any.

I undertake that the payment instrument used by me belongs to me or I am fully authorized to make use of such instruments to make payments. I understand the payment gateways services for such payment may not belong to BFDL and may be provided by third parties. I shall not hold BFDL responsible for the error and BFDL shall not be obligated to indemnify me for any loss, damage, claim suffered by me due to use of such payment instruments and/or payment gateways.

Other terms and conditions:

I agree that the terms and conditions may be amended from time to time without any notice; which changes shall be available on the Site. I understand that BFDL may at its sole discretion may amend, discontinue the Credit Report subscription services in part or whole as it deems fit at any time without a requirement of prior notice or consent.
I understand that BFDL reserves all the rights to suspend, terminate, my account at its sole discretion at any time for any reason but not limiting to breach of the terms of use by me, of if the information provided by me is incorrect, obtained or is intended to be used for fraudulent purposes.
Any disputes relating to the credit information can be raised with respective Bureau on their website and BFDL has no role to play in terms of rectifying the errors, omissions etc.
I understand that BFDL is only acting as a facilitator for providing a platform for me to access my credit status in the form of Credit Report and BFDL does not warrant that the functions contained in on the Site will be uninterrupted or error free, free of viruses or other harmful components, but shall take commercially reasonable efforts to correct the delays in operation of the Site.
I agree to abide by the terms of TUCL and/or CRIF as under: -

ANNEXURE A

TRANSUNIONCIBIL TERMS AND CONDITIONS

TUCL TERMS AND CONDITIONS

To,

TransUnion CIBIL Limited

[Formerly known as Credit Information Bureau (India) Limited]

19th Floor, One IndiaBulls Tower-2A-2B,

841 Senapati Bapat Marg,

Lower Parel,

Mumbai – 400 013

Sub: Grant of Consent

Dear Sirs,

In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Bajaj Finserv Direct Limited (referred to as the “Company”) and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:

The Company is my lawfully appointed agent, and it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.
I grant my unconditional consent to the Company to receive the Consumer Credit Information and Credit Products from TUCL on my behalf and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that the Terms of Understanding in relation to the use of the Consumer Credit Information and Credit Products has been agreed between me and the Company.
I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.
I agree that my consent shall be stored by the Company on a permanent basis and shall be verifiable from time to time. I understand that the Company cannot access the Consumer Credit Information for more than 6 months on a single Consumer Consent and the same shall be required to be refreshed every six (6) months. Company can store the Consumer Credit Information only for (i) a limited time period of six months or (ii) till such time the credit information is required to be retained to satisfy the purpose for which it was provided or (iii) until I withdraw my consent to store such Consumer Credit Information, whichever is earlier and thereafter, the stored Consumer Credit Information shall be deleted, purged, expunged by the Company.
I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL.
I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company.
I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Company authorizing Company to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Company to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Company to obtain my Consumer Credit Information.
I understand that in order to deliver the product to me, I hereby authorize Company, to obtain my Consumer Credit Information from TUCL.
By submitting this registration form, I understand that I am providing express written instructions for Company to request and receive information about me from third parties, including but not limited to a copy of my consumer Credit Report and score from consumer reporting agencies, at any time for so long as I have an active Company account. I further authorize Company to retain a copy of my information for use in accordance with Company Terms of Use and Privacy Policy.
I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Company. I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.
I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.

Yours faithfully,

Signature:____________________________

Name :____________________________

Address : ____________________________

CC: Bajaj Finserv Direct Limited

www.bajajfinservmarkets.in

CRIF TERMS AND CONDITIONS

CONSUMER CONSENT FOR ACCESSING CONSUMER CREDIT INFORMATION REPORT (CIR)

I hereby appoint BFDL as my lawful agent to receive my Credit Report/credit history (“Credit Information”) from Credit Information Companies (“CICs”).
I further authorize the Company to share with CICs, my personal information/details to procure my Credit Information on a monthly frequency and use the same to provide me with financial service (“Purpose”).
I understand and acknowledge that the CIC shall not be liable under law or equity, in any manner whatsoever, for providing my Credit Information to the Company and I will not raise any claim or objections against the CIC.
I confirm that this consent is given by my free will and not due to any solicitation by any person/entity.
This consent/authorization shall be valid for (i) a maximum period of 06 (six) months, from the date of giving the same, (ii) satisfying the Purpose or (iii) until I withdraw my consent at any time, by informing the same to the Company, at their registered office address, website, assigned email id or mobile application, whichever is earlier.
I also consent to the CRIF High Mark Credit Score Terms of Use mentioned herein below separately.

Yours faithfully,

Signature:____________________________

Name :____________________________

Address :____________________________

CRIF HIGH MARK - CREDIT SCORE TERMS OF USE

In connection with submission of the application for my credit information (“Consumer Credit Information”) offered by CRIF High Mark Credit Information Services Pvt. Ltd. (“CIC/ CRIF”) through Bajaj Finserv Direct Limited (referred to as the “Company”) and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:

The Company is my lawfully appointed agent, and he / it has agreed to be my agent obtain my Credit Information Report and Credit Score from CRIF High Mark Credit Information Services Pvt. Ltd (CRIF High Mark) for the purpose of including but not limiting to receive your credit information from Bureau and to keep record of day-to-day changes in your credit information and not for any other purposes. This consent shall be valid for a maximum period of 6 months or till such time the credit information is required to be retained to satisfy the purpose for which it was intended, or I withdraw my consent to store such credit information, whichever is earlier.
I hereby expressly grant unconditional consent to, and direct, CIC to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.
I shall not hold CIC responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information, wherever authorized by me; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company;
I acknowledge and accept that: (a) CIC has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between CIC and the Company is solely the responsibility of the Company.
I agree that I may be required to record my consent / provide instructions electronically or physically as the case may be, and in all such cases I understand that by clicking on the "I Accept" button below or signing this Consent physically, I am providing "written instructions" to the Company authorizing Company to obtain my Consumer Credit Information from my personal credit profile from CRIF High Mark. I further authorize Company to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases by checking this box and clicking on the Authorize button or signing this Consent physically, I agree to the terms and conditions, acknowledge receipt of CIC privacy policy, and agree to its terms, and confirm my authorization for Company to obtain my Consumer Credit Information.
I understand that in order to deliver the product to me, I hereby authorize Company, to obtain my Consumer Credit Information from CIC.
By submitting this registration form, I understand that I am providing express written instructions for Company to request and receive a copy of my consumer credit report and score from CIC.
I understand that the product is provided on an “as-is”, “as available” basis and CIC expressly disclaims all warranties, including the warranties of merchantability, fitness for a particular purpose, and non-infringement.
I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge CIC, its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide CIC with the authority to deliver my Consumer Credit Information to the Company. I agree to defend, indemnify, and hold harmless the Releasee from and against any and all losses resulting from claims made against CIC by third parties arising from and in connection with this letter.
I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof.

CREDIT REPORT TERMS OF USE

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