Terms and Conditions

By accessing or using WellCred's website, mobile app or any services offered by WellCred ("WellCred"), you agree to be bound by these Terms & Conditions ("Terms"). Please read carefully before using our services.

1. Our Role

WellCred operates as a digital Lending Service Provider (LSP) and Loan Service Aggregator regulated under the RBI Digital Lending Guidelines, 2022. We do not lend on our own books. All loans you apply for through WellCred are originated, underwritten and serviced by Kemex Engineering Private Limited. You will receive a separate loan agreement with the lending NBFC.

2. Eligibility

To use our services you must:

  • Be a citizen of India aged 21–58 years
  • Have a valid PAN and Aadhaar
  • Have legal capacity to enter into binding contracts
  • Not have been declared bankrupt or insolvent

3. Loan Application

When you apply for a loan through WellCred you authorise us to:

  • Fetch your credit report from credit bureaus
  • Pull bank statements via RBI-authorised Account Aggregators
  • Verify your identity via Aadhaar e-KYC / DigiLocker
  • Share your data with NBFC partners best suited to your profile

An offer made on WellCred is indicative and subject to the final approval of the lending NBFC.

4. Charges & Fees

All applicable charges — interest rate, processing fee, GST, late payment charges — are disclosed in your Key Fact Statement (KFS) before you sign the loan agreement. There are no hidden charges. Pre-payment and foreclosure are free of charge after the cooling-off period.

5. Cooling-off Period

You may exit the loan within 3 days of disbursal by paying back the principal plus pro-rata APR for the days you held the loan, without any prepayment penalty.

6. Repayment

EMIs are debited via NACH/eNACH mandate registered against your bank account. Late or missed payments may attract:

  • Late payment fee (₹500 + GST per bounce)
  • Penal interest at 24% p.a. on overdue amount
  • Reporting to credit bureaus, impacting your CIBIL
  • Recovery action as per RBI Fair Practices Code

7. Acceptable Use

You agree not to:

  • Provide false, misleading or fraudulent information
  • Use the loan for illegal purposes (gambling, crypto, etc.)
  • Resell, redistribute or reverse-engineer our app or website
  • Use bots, scrapers or automated tools without permission

8. Intellectual Property

All trademarks, logos, content and software on WellCred are the property of WellCred or our partners. No part may be copied, reproduced or distributed without prior written permission.

9. Disclaimer & Limitation of Liability

WellCred services are provided "as is" without warranties of any kind. To the maximum extent permitted by law, WellCred shall not be liable for any indirect, incidental or consequential damages arising from your use of our services. Our total aggregate liability is limited to the processing fees paid by you in the last 12 months.

10. Termination

We may suspend or terminate your account if you violate these Terms or applicable law. You may close your account anytime by writing to support — subject to closure of any active loans.

11. Grievance Redressal

Issues? Email admin@wellcred.in. If unresolved within 30 days, you may escalate to the RBI Ombudsman at cms.rbi.org.in.

12. Governing Law

These Terms are governed by the laws of India. Disputes shall be subject to the exclusive jurisdiction of the courts of Bengaluru, Karnataka.

13. Contact

For any questions, write to admin@wellcred.in.

The terms and conditions contained herein ("T&C") contain the complete terms and conditions that apply to a Client and govern the Client's access to and use of the Service. However, some of the Services may require the Client to agree to additional terms and conditions. Unless otherwise provided, those additional terms shall be deemed to be incorporated into the T&C.

1. Acceptance of Terms

By (i) using the Platform or availing the Services provided through the Platform in any way; or (ii) browsing the Platform, the Client is deemed to have read, understood and accepted the T&C as well as any privacy policy that may be available on the Platform.

The Client acknowledges that by accessing and using the Platform and availing any of the Services, it agrees to be bound by the T&Cs. The T&C establish a contractual relationship between Kemex Engineering Pvt. Ltd and the Client.

In the event the Client is not agreeable to the T&C, it shall not access the Platform or avail the Services. The T&C contained herein expressly supersede all prior agreements or arrangements between Kemex Engineering Pvt. Ltd and the Client.

The Client understands that the access to the Platform and the offer of Services is conditional upon the Client's irrevocable consent and acceptance of all the terms, conditions and obligations contained in the T&C (as may be amended from time to time).

2. Agreeing to Terms & Conditions

By agreeing to the T&C and by availing the Services, the Client represents that it is lawfully able to enter into contracts (if an individual) or has the legal authority to enter into contracts on behalf of the body corporate/company/partnership.

The Client acknowledges that Kemex Engineering Pvt. Ltd is merely providing a platform for facilitating the transactions between the Client and the Counterparties on the Platform and shall in no manner be liable or responsible for any such transactions or be construed as an agent of the Client.

The Client acknowledges and agrees that any use of the Platform and the availing of the Services is at the sole risk of the Client, and that the Client is solely responsible for its data uploaded to or transmitted through the Platform, and the consequences of uploading or transmitting such data.

The Client acknowledges, represents, and warrants that with respect to any data posted on or transmitted through the Platform, it has all necessary licenses, rights, consents, and permissions to upload, transmit, or publish such data, and grants Kemex Engineering Pvt. Ltd an express, irrevocable license and authorisation to use such data for the Services. The Client also warrants that any such use will not constitute infringement of any third party's rights.

3. Use of Platform and Services

In order to access the Platform and to obtain the benefit of the Services, the Client will have to register and create an account by providing accurate and complete information. Kemex Engineering Pvt. Ltd is not responsible for verifying the accuracy of any such information.

Kemex Engineering Pvt. Ltd reserves the right to reject the request for creation of the account, at its sole discretion, if the data or information submitted appears to be incomplete, incorrect or fraudulent.

On the creation of the account, Kemex Engineering Pvt. Ltd grants to the Client a non-exclusive, limited privilege to access and use the Platform and the Services offered on the Platform, subject to compliance with the T&C. The account is non-transferable and its use is restricted to the Client creating the account.

The Client is solely responsible for its account and any activity on it, and must keep the log-in credentials (log-in ID and password) secure at all times. The Client shall not sell, transfer or sub-license the log-in credentials to any other person. The Client shall promptly notify Kemex Engineering Pvt. Ltd at admin@wellcred.in upon becoming aware of any unauthorised use of its account.

4. General Undertakings of the Client

The Client agrees to access any information, material or documents on the Platform only through the authorised access provided by Kemex Engineering Pvt. Ltd, and shall not use any unauthorised means including but not limited to deep links, automated devices, algorithms, hacking or any similar processes to access, copy or monitor any part of the Platform.

The Client further undertakes not to:

  • Impersonate any person or entity, or misrepresent its affiliation with a person or entity
  • Publish, post, upload or distribute files containing bugs, viruses, worms, malware, spyware or corrupted files
  • Engage in any activity that disrupts access to the Platform or the Services
  • Disrupt or interfere with the security of, or otherwise cause harm to, the Platform, accounts, passwords, servers or networks
  • Cause any interference or attempt to interfere with the proper working of the Platform or any transaction being conducted on it
  • Upload or distribute files infringing copyrights, trademarks, confidentiality, privacy or any other proprietary information protected by law
  • Use the Platform or Services for any purpose that is fraudulent, unlawful or prohibited by the T&C or applicable law
  • Upload or distribute any material that is illegal, inappropriate, obscene, offensive, abusive, defamatory, disparaging or otherwise objectionable
  • Download any file posted by a Counterparty that cannot legally be distributed in such a manner
  • Violate the T&C or any applicable laws or regulations
  • Decompose, modify, copy, distribute, transmit, reproduce, publish, license, create derivative works from, transfer or sell any information or software obtained from the Platform

5. Confidentiality

The Client acknowledges and agrees that any information including names, assets, details, documents, transaction records, potential transactions, negotiations, data, applications, software, systems, papers, statements, business information, marketing and financial information, databases, manuals, records and reports, articles, systems, material, sources of material, and any other data pertaining to Counterparties and Kemex Engineering Pvt. Ltd, available to it through the Platform ("Confidential Information") is of a sensitive and confidential nature.

The Client undertakes to keep all Confidential Information confidential and may disclose it only to:

  • Its employees, representatives, agents or contractors on a 'need to know' basis and only for the purposes of performance of its obligations under the transaction/Services
  • The extent required by any regulatory authority or governmental authority under applicable law
  • Any other party with the Client's prior written consent

The Client agrees to take all necessary action to protect the Confidential Information against misuse, loss, destruction, deletion and/or alteration; to use the Confidential Information only in connection with the Services/transaction for which it is obtained; and not to misuse or commercially exploit the Confidential Information of any other party for economic or other benefit.

6. Data Protection

The storage, usage and transmission of all information obtained through the Platform shall at all times be in accordance with the Information Technology Act, 2000 read with the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011, and all other applicable law.

The Client shall at all times have appropriate technical and organisational measures in place to prevent unauthorised or unlawful processing of any Personal Data/Confidential Information, to protect it against accidental loss, destruction or damage, and to ensure the reliability of employees/contractors having access to such information.

The Client shall comply with all applicable law, including without limitation the Data Protection Laws, to safeguard the Personal Data/Confidential Information.

7. Limitation of Liability

Kemex Engineering Pvt. Ltd, its employees, agents, and associates will not be liable with respect to any subject matter relating to the T&C under any contract or tort, or on account of negligence, strict liability or other legal or equitable rights, for: (i) any special or consequential damages; (ii) interruption of use; or (iii) loss or corruption of data.

Kemex Engineering Pvt. Ltd shall not be liable or responsible for:

  • Any faulty operation of systems during access to the Platform or during transmission/transfer of any data
  • Any damage arising from information not being received promptly or appropriately due to technical faults with the Platform
  • Any Confidential Information of the Client being misused by any Counterparty
  • Any loss or damage caused by any bugs, viruses, worms, malware, spyware or similar programs that may infect the Client's computer, software or data
  • Any failure to perform or delay in performance of obligations or Services due to events outside Kemex Engineering Pvt. Ltd's reasonable control
  • Any breach of the T&C by any Counterparty
  • Any indirect losses including, without limitation, loss of income, business, profits, data or injury to reputation

The liability of Kemex Engineering Pvt. Ltd towards a Client shall in any event not exceed INR 1,000.

8. Transfer of Rights

The T&C are binding on the Client, its successors and permitted assigns. The Client may not transfer, assign, charge or otherwise dispose of any of its rights, benefits, liabilities or obligations under the T&C without the prior written consent of Kemex Engineering Pvt. Ltd.

However, Kemex Engineering Pvt. Ltd may transfer, assign, sub-contract or otherwise dispose of any of its rights, benefits, liabilities or obligations under the T&C at any time, or involve or appoint any third party to satisfy its obligations, without any necessity to notify the Client.

9. Security of Data

All facilities used to store data and process transactions will adhere to reasonable security standards at par with Kemex Engineering Pvt. Ltd's own standards for processing and storing information of a similar nature. Kemex Engineering Pvt. Ltd has implemented industry-standard systems and procedures to ensure the security and confidentiality of transactions and related data, and to protect the Client against anticipated threats or unauthorised access.

Kemex Engineering Pvt. Ltd reserves the right to perform statistical analysis of Platform activity in order to measure interest in the various sections of the Platform for the purpose of product and service development. Any non-personal information such as internet domain, host names, IP addresses, clickstream patterns, and the dates and times on which the Platform is accessed may be recorded for the purpose of internal analysis only.

10. Intellectual Property

The Platform and the arrangement and processes thereof, including but not limited to all text, graphics, user interfaces, visual interfaces, and computer code, is owned by Kemex Engineering Pvt. Ltd and is protected by copyright, patent and trademark laws, and all other applicable intellectual property laws. The Client shall not use any of the aforesaid without the prior written consent of Kemex Engineering Pvt. Ltd.

The trademarks, logos and marks displayed on the Platform are the property of Kemex Engineering Pvt. Ltd, or the property of the Client(s) or Counterparty(ies), as the case may be. The Client shall not use any trademarks, logos or marks not belonging to it without the prior consent of Kemex Engineering Pvt. Ltd or the relevant Counterparty.

11. Communication with Counterparties

Kemex Engineering Pvt. Ltd does not control, and is not responsible for, any information, data or documents appearing on the Platform or for any communication between the Client and the Counterparties, including without limitation e-mails sent.

The Client acknowledges that any communication received from the Platform, including without limitation emails, are automated communications and Kemex Engineering Pvt. Ltd is not responsible for the accuracy of the content thereof.

Kemex Engineering Pvt. Ltd does not endorse, guarantee, or assume any responsibility for any Services offered to the Client, and will not be a party to, or in any way responsible or liable for, any transaction between the Client and the Counterparties on or through the Platform.

12. Taxes

The Client shall be responsible for identifying and paying all taxes, duties, cess and other fees and charges (and any penalties, interest, and other additions thereto) that are payable by the Client with respect to the transactions through the Platform. Kemex Engineering Pvt. Ltd will not be liable to pay any taxes which are payable by the Client to any governmental authority for any such transaction.

13. Modification of T&C

The Client acknowledges and agrees that Kemex Engineering Pvt. Ltd has the right to revise, modify, amend or discontinue any of the T&C from time to time, including without limitation to reflect changes in market conditions, technology, requirements or laws, and Kemex Engineering Pvt. Ltd shall not be obligated to obtain any approval or consent on the revised T&C.

The Client is deemed to be aware of the latest T&C, and use of the Platform and Services subsequent to any modification will constitute the Client's acceptance of the modification.

14. Temporary Suspension and Termination

Kemex Engineering Pvt. Ltd does not guarantee uninterrupted access to the Platform. Access to the Platform or the Services may be disrupted:

  • On the occurrence of a Force Majeure Event
  • For the purposes of repair, maintenance, upgrading or other similar activities

Kemex Engineering Pvt. Ltd undertakes to take all reasonable measures to minimise any such periods during which the Platform and the Services are unavailable and shall put best efforts into resuming the Services promptly. Kemex Engineering Pvt. Ltd shall not be responsible or liable for any losses or damages suffered due to any such suspension.

Kemex Engineering Pvt. Ltd has the right to temporarily or permanently disable the Client's account, restrict or suspend access to the Platform, or terminate the Platform completely, at its sole discretion without cause or notice. All provisions of the T&C which by their nature should survive termination shall do so, including without limitation, ownership, warranty, limitations of liability, confidentiality, disclaimers and indemnity.

15. Disclaimer of Warranties

The Platform is provided on an "as is" and "as available" basis. Kemex Engineering Pvt. Ltd hereby disclaims all warranties of any kind, express or implied, including without limitation the warranties of merchantability, satisfactory quality, fitness for a particular purpose, non-infringement, availability, accuracy, completeness, security or reliability of the Services and/or any data uploaded, used or transmitted on or through the Platform. The Client uses the data and/or the Services at its own discretion and risk.

Kemex Engineering Pvt. Ltd is not obligated to be involved in or facilitate the resolution of any dispute between the Client and the Counterparties on the Platform. The Client hereby releases Kemex Engineering Pvt. Ltd, its employees, agents, and associates from any claims, demands and damages arising out of or in any way related to such disputes, and waives any legal or equitable rights or remedies it may possess against Kemex Engineering Pvt. Ltd in relation to such disputes.

16. Indemnification

The Client hereby agrees to indemnify and hold harmless Kemex Engineering Pvt. Ltd (including its directors, employees, representatives and agents) from time to time, against any and all losses, liabilities, obligations, damages, judgments, costs, expenses (including without limitation advisors' fees), claims, fines, penalties, proceedings, actions or demands of any kind or nature incurred by Kemex Engineering Pvt. Ltd as a result of the Client's use of the Platform or the Services, including but not limited to the violation of the T&C.

17. Governing Law and Jurisdiction

The T&C are governed and construed in accordance with the laws of India and the Client hereby submits to the exclusive jurisdiction of courts and tribunals at Assam, India. The Client irrevocably waives any objection it may have now or in the future to the choice of courts and tribunals of Assam, India as an inconvenient forum.

18. Severability

Every provision contained in the T&C shall be severable and distinct from every other provision and if at any time any one or more of such provisions is or becomes invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby.

19. Waivers

Neither the failure to exercise nor any delay in exercising any right, power, privilege or remedy under the T&C shall in any way impair or affect the exercise thereof or operate as a waiver thereof in whole or in part. No single or partial exercise of any right, power or privilege shall prevent any further or other exercise thereof or the exercise of any other right, power, privilege or remedy.

II. Definitions

Unless repugnant to the context, the terms used in the T&C have the following meaning:

  • "Client" means any person who has an account on the Platform.
  • "Counterparty" means any person with which the Client enters into or may potentially enter into any arrangement, contract or agreement pursuant to or by way of the Services or the Platform.
  • "Force Majeure Event" includes any act, event, non-happening, omission or accident beyond the reasonable control of Kemex Engineering Pvt. Ltd, including strikes, lock-outs or other industrial action; riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war; fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster; impossibility of the use of public or private telecommunications networks or internet services; and the acts, decrees, legislation, regulations or restrictions of any government.
  • "Platform" means the platform launched by Kemex Engineering Pvt. Ltd for offering Services to the Client.
  • "Personal Data" shall have the same meaning as ascribed to the term "Sensitive Personal Data or Information" under the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011 (as amended from time to time).
  • "Services" means the services offered by Kemex Engineering Pvt. Ltd through the Platform, including but not limited to facilitation of interaction between the Client and Counterparties to enable them to enter into transactions, including for securitisation, direct assignments, or any other product offered.
  • "Kemex Engineering Pvt. Ltd" means Kemex Engineering Pvt. Ltd Private Limited (including its successors and assigns) as recognised as Trade Name.