1. This document ("Loan Agreement") is an electronic record in terms of the Information Technology Act, 2000 and Rules made thereunder in force, and the provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000 from time to time. This Loan Agreement is a system-generated document and does not require any physical or digital signatures for validation, consent and/or acceptance.
2. The terms and conditions ("T&C") of usage of the application ("StuCred") offered by Kreon Finnancial Services Limited ("Kreon/Lender") shall be construed as part and parcel of this Loan Agreement and shall apply mutatis mutandis. The Borrower’s registration with StuCred in the manner as indicated by Kreon from time to time, is a pre-requisite and the existence of an active user account of StuCred shall be mandatory for the grant of a loan by Kreon. Kreon has the sole authority to sanction, process, grant and/or decline the loan to the StuCred User in accordance with the provisions of Applicable Law.
3. The provision of services in the form of grant of loan is expressly conditioned on your ("StuCred User's/Borrower's") assent to this Loan Agreement. Any acceptance of a loan facility offered by Kreon is expressly limited to the terms and conditions as detailed in this Loan Agreement. No document uploaded or document solely signed by the Borrower shall modify/amend this Loan Agreement. The Lender may modify/amend the Loan Agreement after prior notification to the Borrower and such modified/amended Loan Agreement will thereupon apply to the Borrower prospectively.
4. By clicking on the ‘ACCEPT/ I AGREE’ button at the bottom of this page, the Borrower irrevocably and unconditionally accepts the T&C of the Loan Agreement for grant of loan and it shall constitute a legally binding contract between Kreon/Lender and the StuCred User/Borrower.

1. AMOUNT DUE: "Amount Due" shall mean the Loan Amount together with penalty and any other amounts due and payable by the Borrower to the Lender.

2. APPLICABLE LAW: "Applicable Law" shall mean any Indian statute, law, acts of the State Legislature or Indian Parliament, regulation, ordinance, rule, judgement, order, decree, bye-laws, clearances, directives, guidelines, policy requirement, or any governmental restriction or any similar form of decision of, or determination by, or any interpretation or administration having the force of law in India of any of the foregoing, by any governmental authority having jurisdiction over the matter in question, whether in effect as on the date of this Loan Agreement or thereafter, and includes any laws, notification, circulars, ordinances, byelaws, rules whatsoever.
3. APPLICATION/APP: "Application/App" shall mean the StuCred platform, the mobile application or the algorithm created, developed, designed and made available by Kreon for lending to its Users.
4. ANNUAL PERCENTAGE RATE (APR) – “Annual Percentage Rate” is the annualized rate charged to the Borrower for availing of a digital Loan, which includes without limitation to interest rate, cost of funds, credit cost, operating cost, processing fee, verification charges, maintenance charges, etc., and exclude contingent charges like penal charges, late payment charges, etc.
5. BANK ACCOUNT: "Bank Account(s)" shall mean a bank account maintained by the StuCred User with a Bank.
6. BORROWER/YOU/YOUR: “Borrower” shall mean any individual who avails a Loan (defined later) through the Application and shall include an individual who has opened a registered account with StuCred.
7. BUSINESS DAY: “Business Day” shall mean a day when banks are open and working in their regular course of business in Chennai, India, and shall exclude public holidays and bank holidays.
8. COOLING OFF PERIOD: “Cooling Off Period” shall mean the time period of not less than three (3) days for the Borrower for exiting any loans, in case a Borrower decides not to continue with the Loan.
9. CREDIT LIMIT: “Credit Limit” shall mean the maximum allowable sum which the Borrower can request for disbursement as loan from Kreon.
10. DEFAULT: “Default” includes non-payment of Amount Due/ Outstanding Amount and/or any amount due to Kreon within the Due Date.

11. DUE DATE: “Due Date” means, in regards to any amount payable against a loan from Kreon, the date on which such amounts become due in terms of this Loan Agreement; and if such due date falls on a day which is not a Business Day, on the immediately preceding Business Day.
12. DISBURSEMENT: “Disbursement” refers to the process of releasing the funds from the Lender’s bank account to the Borrower’s account.
13. EMI/EQUATED MONTHLY INSTALLMENT: "EMI" or "Equated Monthly Installment" shall mean the amount payable every month by the Borrower to the Lender comprising the Interest, or as the case may be, the Loan Amount and Interest.
14. KREON: "Kreon " shall mean KREON FINNANCIAL SERVICES LIMITED, an RBI registered non-banking financial company, which sanctions, processes, grants or declines the Loan to the Borrow.
15. LOAN: "Loan" shall mean the sum of money for which a User may apply through the Application for the consideration of Kreon, or the grant of an amount to the User by Kreon subject to the acceptance of terms and conditions of the Loan Agreement by the User.
16. LOAN AGREEMENT: “Loan Agreement” shall mean the agreement executed between Kreon and the Borrower pertaining to the granting of a Loan whether in physical or electronic form as may be applicable from time-to-time in accordance with the as specified in this Agreement.
17. LOAN AMOUNT: “Loan Amount” shall mean the principal amount including the processing fee, sanctioned by Kreon to the StuCred User/Borrower.
18. LENDER: "Lender" shall mean Kreon Finnancial Services Limited acting through its digital lending platform, StuCred.
19. MATERIAL ADVERSE EFFECT: "Material adverse effect" shall mean a significant negative impact on the StuCred User’s/Borrower’s ability to fulfill its responsibilities as outlined in the Loan Agreement.
20. OUTSTANDING AMOUNT: “Outstanding Amount” shall mean the amount due and payable by the Borrower including the Loan Amount, Annual Rate Percentage and other amounts payable by the Borrower to Kreon, on the respective Due Date(s).

21. PENALTY CHARGES: “Penalty Charges” encompass, but are not limited to, the default service charge and daily late fees as outlined in Clause VII(1) of this Loan Agreement.
22. PROCESSING FEE: “Processing Fee” shall refer to the fee charged for processing of the loan or for usage of the Application calculated at the rate of certain percentage on the loan.
23. STUCRED RATING OR STUCRED SCORE: "StuCred Rating” or “StuCred Score" shall refer to the assessment of creditworthiness of the Borrower, by Kreon or any person authorized by Kreon in the manner as determined solely by Kreon and in accordance with Applicable Law.
24. TERM: "Term" shall mean the tenure/tenor of the Loan which may either be thirty (30) calendar days, or such other period as may be communicated to the Borrower on the date of Disbursement and/or as may be decided by Kreon in accordance with the terms and conditions of the Loan Agreement and Applicable Law.
25. USER ACCOUNT: "User Account" shall mean the registered account of the Borrower with Kreon for use of the Application and services offered by Kreon therein.
26. WILFUL DEFAULTER: “Wilful Defaulter” shall refer any Borrower who deliberately fails to meet their obligations towards the Lender despite having the financial capacity to do so.
27. WEBSITE: “Website” shall mean the official website of the Lender viz., www.kreon.in and www.stucred.com.
28. The terms and expressions not herein defined shall where the interpretation and meaning have been assigned to them in terms of the General Clauses Act, 1897, have that interpretation and meaning as context may require.
29. All terms in singular shall, unless the context requires otherwise, include plural and reference to one gender shall include all genders.

1. The Lender reserves the sole right and discretion to approve/reject the Borrower’s request for a loan without having the need to provide any reasons for the same. The Lender reserves the sole right to accept or reject a request made by any Borrower to use the Application.
2. The Lender may disburse the Loan or any part thereof (at its own discretion. The Loan Amount will be disbursed to the Borrower's bank account on acceptance of T&C of the Loan Agreement, as per the latest bank details provided by the Borrower. At no given point of time, shall the Lender be responsible for any liability, loss, damages, etc. caused to the Borrower due to the provision of erroneous bank details or account information to the Lender.
3. A non-refundable processing fee equal to 8%+GST of the Loan Amount shall be charged by the Lender for processing of the loan and for usage of the Application towards the developmental support and maintenance of the Application. The processing fee shall be appropriated from the Loan Amount before the Disbursement is made to the User, and in the event of an extension of term, the processing fee shall be appropriated once again on the remainder of the Loan Amount, as per the slab rates mentioned in Clause X.
4. The Borrower shall repay the Amount Due through any one of the methods made available by Kreon. The Borrower is required to intimate the repayment details to the Lender by uploading payment details into the Application. In the event of utilizing the Unified Payments Interface (UPI) as the basis of making payments by the Borrower, in connection with the Loan Amount and/or Amount Due, the Borrower must accept the information on the UPI mandate, prior to availing the Loan facility. Accordingly, the Borrower shall accept the UPI mandate, which process shall include a process of deduction to the extent permitted in law, to verify the bank account. The Borrower shall accept the UPI mandate in order to avail the Loan Amount and in case insufficient balance is maintained by the Borrower, at the time of mandate presentation, the same shall be treated as a bounced mandate and shall provide to the Lender the right in its sole discretion to take such suitable action as it may deem fit, in law. In such a scenario of a bounced mandate, the associated bank charges and other levies shall be solely applicable to the account of the Borrower.

5. The re-payment of Loan Amount and/or Amount Due any Equated Monthly Installments payable by the Borrower to the Lender in terms of this Loan Agreement shall stand payable by the Borrower to the Lender on their respective due dates without the requirement of any further notice or communication from the Lender.
6. If the Borrower wishes to make pre-payment of any Loan Amount or Amount Due or part thereof before its Due Date, the Borrower may do so and intimate the pre-payment details through the Application. However, Borrower acknowledges that the processing fee deducted at source for Loan sanction shall not be reduced or refunded in such case.
7. Notwithstanding anything contained in this Loan Agreement, it is expressly agreed by the Borrower that the Lender shall not be bound to continue the Loan or make any Disbursement, and the Lender may, in its sole and exclusive discretion, at any time, without assigning any reason, decline to make a Disbursement or otherwise discontinue the Loan consequently recalling the entire Loan subject to the Cooling Off Period provided to the Borrower, which decision shall be binding on and shall not be questioned by, the Borrower, and the Lender shall not be liable for any damages or other consequences to the Borrower or any other person by reason thereof.
8. Any payments made by/ on behalf/ for the Borrower or any realizations in relation to the Loan, shall be appropriated towards the Outstanding Amount and/or Amount Due in the following order:
   1. Firstly, towards costs and expenses incurred by the Lender;
   2. Secondly, towards any charges, commissions and fees (wherever applicable);
   3. Thirdly, towards additional/ default interest;
   4. Fourthly, towards interest (as applicable);
   5. Fifthly, towards principal amount(s).
9. All repayments of the Loan Amount either by way of EMI or otherwise shall be given effect to by the Lender against the total Amount Due from the Borrower on receipt of such amount by the Lender.

10. Any statement of account furnished by the Lender shall be accepted by and be binding on the Borrower(s) and shall be considered as a conclusive proof of the correctness of the amounts mentioned therein, with exception for any manifest errors.
11. The Borrower acknowledges that he/she shall be subjected to and be subject of a continuous evaluation and assessment for the purposes of assignment of a StuCred Rating. The StuCred Rating may include an amalgamated assessment of the Borrower's economic profile including but not limited to age, occupation, income, educational history, repayment of the Amounts Due, etc. or other requirements as determined by Kreon from time to time in accordance with Applicable Law.
12. The Borrower consent that he shall accept the StuCred Rating, arrived at by the Lender or a third-party agency commissioned by the Lender, as final. The Lender or such third-party agency shall not be liable under any circumstances to share the assessment, computation, details or basis of arriving at the StuCred Rating.

The Lender shall, in relation to the Loan:

1. Have the sole right at any time during the tenure of this Loan Agreement to revise/reschedule the repayment terms / amount of the Loan or the EMI or of any Amounts Due thereunder and the Borrower shall make all future repayments to the Lender according to such revised schedule on being notified by the Lender of such revision or rescheduling.
2. Have the sole right to amend any of the terms and conditions of this Loan Agreement including but not limited to revision of the periodicity of compounding interest, method of effecting credit of the repayments without assigning any reason or notifying the Borrower. The Borrower agrees that such revision shall become applicable from the date of such revision in the records of the Lender.
3. Have the right to receive and adjust any payment/s that it may receive towards Amounts Due and/or repayable by the Borrower under this Agreement.
4. Be entitled to disclose or publish any information about the Borrower, his account status with the Lender, personal details of the User, photographs, documents and/or any default committed by the Borrower (whether such information is provided by the Borrower or obtained by the Lender itself and

4. whether in form of repayment conduct, rating or defaults) to its head office, other branch offices, affiliated entities, Reserve Bank of India, Credit Information Bureau of India, Government bodies/authorities, any refinancing agency, credit rating agency, assignees/potential assignees and such third parties after obtaining a one-time prior explicit consent of the Borrower in this regard.
5. Have the right to report to credit rating agencies and such other bodies as permissible in law, in case of Borrowers qualifying as wilful defaulters under Applicable Laws.
6. Have the right, without notice to or without any consent of the Borrower, to approach, make enquiries or obtain information, from any person including third parties, other banks/finance entities/credit bureaus, Borrower’s employer/family members or any other person related to the Borrower, in order to assess track record, credit risk, to establish contact with the Borrower, for the purpose of recovery of dues from the Borrower or any other purpose it deems fit in connection with the Loan and/or Borrower in accordance with Applicable Law.
7. Have the right to recall any Disbursement to the Borrower for failure to disclose or misrepresent any material information relevant to the Lender to determine the economic profile/creditworthiness of the Borrower.
8. Have the right at any time, without any consent of or notice to the Borrower(s), to securitize, sell, assign, discount or transfer all or any part of the Lender’s rights and obligations under the Loan, this Loan Agreement or any other document, to any person(s) and in such manner and on such terms as the Lender may decide. The Borrower shall not be entitled to directly or indirectly assign or in any manner transfer, whether in whole or part, any rights, the benefit or obligation under the Loan.
9. Have the right at the sole discretion of the Lender, to renew the Term of the Loan subject to payment of the processing fees for such extension by the Borrower, at the rate fixed in this Agreement.

With a view to induce the Lender to grant the Loan to him, the Borrower, hereby represents/ warrants to/ covenants/ undertakes with the Lender that he-

1. Is legally permitted to enter into this Loan Agreement, by virtue of age, legal capacity and mental fitness.
2. Shall promptly and without requiring any notice or reminder from the Lender, repay to the Lender the outstanding loan amount in accordance with the repayment terms in this Loan Agreement.
3. Where applicable, shall inform the Lender of any likely change in his employment or status in life.
4. The persons, if any, availing of and operating the Loan and each Disbursement for and on behalf of the Borrower are and will be duly authorized by the Borrower to do so.
5. Shall keep himself aware of the rules of the Lender and terms of this Agreement, pertaining to the Loan, and in force from time to time.
6. If the bank account of the Borrower is being closed or being shifted from the bank registered in the User Account to any other bank, the Borrower shall within 3 (three) days of such closure or shifting of account, intimate the Lender and arrange to the satisfaction of the Lender, an alternative bank account for the purposes of this Loan Agreement.
7. The Borrower shall make good to, and save, defend and hold harmless the Lender, its directors, employees, shareholders, agents, consultants, representatives from or against all, direct or indirect, claims, damages, losses, costs and expenses, including attorneys’ fees arising out of/ in relation to any act, omission, breach, misrepresentation, fraud, misstatement or default by the Borrower and/or otherwise incurred by Lender as a result of any suit, investigation, etc., any other matter for any reason.
8. The Borrower authorizes the Lender to obtain a credit rating/report from a credit bureau, or other service provider that holds the Borrower's credit history and related details. The Lender has the right to use the Borrower's credit rating/report, social media profile/content, cellphone data and employment data for authentication, credit scoring and credit decision purposes after obtaining the explicit consent of the Borrower in this regard.
9. The Borrower's explicitly consents and authorizes the Lender to display his StuCred Rating, along with some personal and credit information with the Borrower's Loan details to third parties to facilitate their own credit decision.

10. The Borrower authorizes the Lender to verify information, and the Borrower agrees that the Lender may contact third parties to verify any such information.
11. Each of the representations and warranties contained herein shall be continuing representations and warranties and shall be deemed to have been made by the Borrower and on the date of acceptance of the terms and conditions and repeated by him on every day during the subsistence of this Loan Agreement including, in particular, on the date of, and on the date prior to each application for a Loan, and Disbursement of any part of the Loan Amount.

1. The following events shall constitute events of default (each an “Events of Default”), and upon the occurrence of any of them, the entire Outstanding Amount shall become immediately due and repayable by the Borrower and further enable the Lender inter alia to recall the entire Outstanding Amount and/or enforce any security and transfer/sell the same and/or take, initiate and pursue any actions/proceedings as deemed necessary by the Lender for recovery of the Outstanding Amount:
   1. Failure on Borrower’s part to perform any of the obligations or terms and conditions or covenants applicable in relation to the Loan including under this Loan Agreement or any other document, including non-payment in full of any part of the Outstanding Amount when due or when demanded by the Lender;
   2. Any misrepresentations or misstatement by the Borrower;
   3. Occurrence of any circumstance or event which adversely affects the Borrower’s ability/capacity to repay the Outstanding Amount or any part thereof or perform any of the obligations with respect to the Amounts Due;
   4. If any attachment, distress, execution or other process against the Borrower, its assets or any of the security is threatened, enforced or levied upon by any person; or
   5. The event of death, insolvency, failure in business, commission of an act of bankruptcy of the Borrower, or change or termination of employment/profession/ business for any reason whatsoever.

2. In addition to any general lien or similar right to which the Lender may in law generally be entitled, the Lender may at its discretion use and enforce its right to set off and cross default between all the Loan Amounts sanctioned to the Borrower. The Lender may at its sole discretion report to credit rating agencies or to such other bodies as may be permissible under Applicable Laws.
3. The Borrower's default under one Loan or one Disbursement shall be deemed to be a default of all the other Loans availed by the Borrower, and notwithstanding anything contrary elsewhere contained in any writing or otherwise, the Lender shall regard all borrowings by the Borrower as immediately due and payable and the Lender shall be entitled to recall all the Loans Disbursements granted to the Borrower.
4. On the happening of any of the Events of Default, the Lender shall be entitled, without prejudice to any other right or remedy which the Lender may have under this Loan Agreement or otherwise under Applicable Law, and notwithstanding any subsequent acceptance of any repayment of the Amounts Due, take any of the steps specified herein below without any notice, except as specified herein, at any time after the occurrence of such event:
   1. a)By a notice to the Borrower, to terminate this Loan Agreement and/or declare the Amount Due, due and payable forthwith;
   2. Exercise and enforce all rights and remedies available to the Lender under this Loan Agreement and in Applicable Law for recovery of monies from the Borrower;
   3. Appoint/nominate any agency, law firm or person to legitimately recover default amount from the Borrower.

1. The Borrower shall pay the Amount Due (including the Default Service Charge and Daily Late Fees defined hereinafter), in the event of default, to the Lender from the date of such default.

1. The Events of Default shall be as mentioned in the terms of this Loan Agreement. The date of default shall be exclusively determined by the Lender. The Lender shall levy interest on Default in the following manner on the Loan Amount, for each day of delay in repayment.

2. The Borrower acknowledges that the penalty to be paid by the Borrower are reasonable and the rates represent pre-estimates of losses and damages in line with the Loan Amount expected to be incurred by the Lender due to the non-payment of dues by the Borrower on or before the Due Date.
3. The Borrower acknowledges that the Loan is a commercial transaction and specifically waives any defense under usury or other Applicable Laws relating to or restricting interest.

1. The Lender may, by notice to the Borrower, suspend the right of the Borrower to further Disbursements or cancel the undisbursed portion of the Loan Amount in whole or in part in accordance with Applicable Law:
   1. If any of the Events of Default has occurred and is continuing or if the Events of Default is, in the reasonable opinion of Lender, imminent; or
   2. If any event or condition has occurred which has or can be reasonably expected to have a Material Adverse Effect on the Borrower’s ability to pay his dues
2. The exercise by the Lender of its right of suspension shall not prevent the Lender from exercising its right of cancellation, either for the same or any other reason specified above and shall not limit any other provision of this Loan

2. Agreement. Upon any cancellation, the Borrower shall pay to Lender all Outstanding Amounts under this Agreement up to the date of cancellation forthwith and failure to pay the Outstanding Amount on the date of cancellation will incur a payment of the Default Interest along with the Outstanding Amount in terms of Clause VII above.

1. Notices: Any notice, approvals, instructions, demand and other communications given or made by the Lender shall be deemed to be duly given and served if sent by courier, normal post, registered post, facsimile, electronic mail, personal delivery, SMS or by pre-paid registered mail addressed to the Borrower’s address, phone/mobile number, fax number or email as given in the Application and such notice and service shall be deemed to take effect on the third working day following the date of the posting thereof in case of courier, normal post, registered post, at the time of delivery if given by personal delivery, upon receipt of a transmission report if given by facsimile, upon sending the electronic mail or SMS if given by electronic mail or SMS.
2. The Borrower undertakes to keep the Lender informed at any given point of time in writing of any change in the mailing address, email id, phone and mobile number(s) as provided in the Application and to obtain the Lender’s acknowledgement on the intimation given for any such change.
   In case of any grievance or issues arising in relation with the Loan, the grievance redressal mechanism to be followed is by contacting us at nodalgrievanceofficer@stucred.com, or at +91 8062406300, with your communication being addressed to our grievance redressal officer. In case of the above information being incorrect at any point of time, the Borrower shall check the website of the Lender for updated contact details of the grievance redressal officer, and the same shall be deemed as the updated contact details.
3. The Loan Agreement and any other documents in connection with the Loan shall be governed by the applicable laws of India. The parties hereto expressly agree that all disputes arising out of and/or relating to the Loan, this Loan Agreement or any other relevant document shall be subject to the exclusive jurisdiction of the courts in Chennai. Any default on amounts due under this Loan Agreement or any disputes arising in respect of or in relation to this Loan Agreement shall be referred to arbitration at Chennai in accordance with the provisions of the

3. Indian Arbitration and Conciliation Act, 1996 as may be amended, or its re-enactment, by a sole arbitrator, appointed by the Lender. The costs of such arbitration shall be borne by the losing party or otherwise as determined in the arbitration award. If a party is required to enforce an arbitral award by legal action of any kind, the party against whom such legal action is taken shall pay all reasonable costs and expenses and attorney’s fees, including any cost of additional litigation or arbitration taken by the party seeking to enforce the award.
4. Notwithstanding any suspension or termination of this Loan Agreement as specified hereinabove, all the provisions of this Loan Agreement for the benefit or protection of the Lender and its interests shall continue to be in full force and effective as specifically provided in this Loan Agreement.
5. The Borrower agrees that he is liable to pay the stamp duty and other fees as applicable on all the documents/ instruments executed by and between the parties or any of them pursuant to the Loan granted by the Lender to the Borrower including but not limited to this Loan Agreement and keep the Lender indemnified against all loss, costs, charges and expenses that may be suffered or incurred by the Lender by way of any direct or indirect taxes such as service tax, transaction tax, stamp duty or other fees of any nature. Additionally, the Borrower shall also be liable to make payment of all costs, charges, expenses including interest and penalty, if any, payable as a result of non-payment or payment of deficient stamp duty on any of the aforesaid documents, including but not limited to this Loan Agreement and all legal costs as between the attorney and clients on a full indemnity basis.
6. Enforcement of this Loan Agreement is solely in the Lender's discretion and failure to enforce any provision in some instances does not constitute a waiver of the right to enforce such provision in other instances.
7. In case any provision/s of this Agreement is/are rendered invalid or unenforceable or void by operation of any law, rules or regulation, then such an event would not affect the validity or enforceability of any other provision of this Agreement.

I HEREBY CONFIRM THAT:

1. I AM IN THE LEGAL CAPACITY TO ACCEPT THE TERMS AND CONDITIONS OF THIS LOAN AGREEMENT.
2. I ACCEPT THE TERMS AND CONDITIONS OF THIS LOAN AGREEMENT.
3. I HAVE FULLY UNDERSTOOD THE TERMS AND CONDITIONS OF THIS LOAN AGREEMENT.