Terms of Service & Regulatory Compliance

Comprehensive legal framework governing our loan consultancy services

Effective Date: January 18, 2026 | Version 3.1

Registered and compliant with RBI Guidelines | Google Play Store Policies | WhatsApp Business API Terms | Consumer Protection Regulations

LEGALLY BINDING AGREEMENT

By accessing or using New Elite Financial Services' ("Company," "we," "us," or "our") website, mobile applications, or services, you ("Client," "you," or "your") acknowledge that you have read, understood, and agree to be bound by these Terms of Service and all referenced policies.

If you disagree with any part, you must immediately cease using our services.

Regulatory Compliance Reference

RBI Compliant

WhatsApp Business

Google Play Store

Consumer Protection

Acceptance of Terms & Eligibility

Legal binding and user qualifications

Eligibility Requirements

Minimum age: 18 years (21 for certain loan products)
Indian resident with valid PAN and Aadhaar

Valid bank account in your name
No active bankruptcy proceedings

Prohibited Jurisdictions

Our services are NOT available to residents of:

Crime-affected areasHigh-risk countriesSanctioned regionsRestricted territories

Service Description & Regulatory Framework

What we do and don't do under RBI guidelines

Our Regulatory Status

RBI Compliance Statement

New Elite Financial Services operates as a registered Loan Service Provider (LSP) under RBI's Digital Lending Guidelines (2026).

✓Registered with Ministry of Corporate Affairs
✓Compliant with RBI's Fair Practices Code
✓Follows KYC/AML guidelines

Platform Compliance

✓WhatsApp Business API compliant (2026 updates)
✓Google Play Store DLA policy compliant
✓iOS App Store financial services compliance

What We Do (Permitted Services)

•Loan Application Assistance: Help complete and submit applications to RBI-approved banks/NBFCs
•Document Processing: Verify, organize, and submit required KYC documents
•Coordination: Liaise between you and financial institutions
•Status Updates: Provide progress updates on your application

What We Don't Do (Prohibited Activities)

✗Direct Lending: We are NOT a bank, NBFC, or direct lender
✗Guarantees: Cannot guarantee loan approval or specific terms
✗Rate Setting: Do not control interest rates or fees
✗Credit Decisions: Final approval rests with banks/NBFCs

User Obligations & KYC Compliance

Mandatory requirements per RBI regulations

KYC/AML Requirements (RBI Mandated)

Mandatory Documents

•PAN Card (original and self-attested copy)
•Aadhaar Card with QR code verification
•Recent passport-size photographs
•Address proof (utility bill, rental agreement)

Financial Documents

•6 months bank statements (all accounts)
•Income proof (salary slips, IT returns)
•Property documents (for secured loans)
•Employment/business proof

Requirement	Description	Legal Basis
Accuracy of Information	All submitted information must be truthful, complete, and verifiable	Indian Penal Code Sec. 420
Document Authenticity	Submit only genuine documents; forgery is a criminal offense	RBI KYC Master Direction
Cooperation	Respond to verification requests within stipulated timelines	Service Agreement
Consent for Credit Check	Explicit consent for credit bureau verification (CIBIL, Equifax, etc.)	CICRA, 2005
Communication	Maintain active contact for status updates and requirements	RBI Fair Practices Code

Fees, Payments & Transparency

RBI-mandated fee disclosure requirements

Fee Structure (Per RBI Digital Lending Guidelines)

₹0

Consultation Fee

No upfront consultation charges as per RBI guidelines

Success-Based

Service Fee

Only upon successful loan disbursement

Fully Disclosed

Transparency

All fees communicated in writing before engagement

Fee Disclosure Requirements

•All fees disclosed in Key Fact Statement (KFS) as per RBI
•No hidden charges or undisclosed fees
•GST applicable as per current tax laws
•Payment receipts issued for all transactions

Prohibited Fee Practices

✗No upfront processing fees to clients
✗No fees for unsuccessful applications
✗No unauthorized deductions from loan amount
✗No third-party fees without explicit consent

Platform-Specific Terms & Compliance

WhatsApp, Google Play, and other platform requirements

WhatsApp Business API Compliance

Our WhatsApp Practices

✓Explicit opt-in required before sending messages
✓Only approved message templates used
✓No sensitive financial data shared via WhatsApp
✓Easy opt-out option ("STOP" to unsubscribe)

2026 WhatsApp Policy Compliance

✓No general-purpose AI chatbots (as prohibited)
✓24-hour customer service window respected
✓Compliance with Meta's Commerce Policy
✓Registered WhatsApp Business Account

Google Play Store Compliance

App Store Requirements

✓Listed on RBI's approved DLA registry
✓Clear disclosure of partnered NBFCs/banks
✓No access to prohibited permissions
✓Transparent APR and fee disclosure

User Rights & Protections

✓Right to data deletion as per app store policies
✓Clear refund and cancellation policies
✓Age-appropriate content ratings
✓Compliance with regional financial laws

Limitation of Liability & Disclaimers

Legal limitations and risk disclosures

Disclaimer of Guarantees

New Elite Financial Services provides consultancy services only. We do NOT guarantee:

•Loan approval or sanction by any financial institution
•Specific interest rates, tenure, or loan amounts
•Timeline for loan processing or disbursement
•Credit bureau scores or ratings

Limitation of Liability

To the maximum extent permitted by law, our liability is limited to:

Maximum Liability Cap

Our total liability shall not exceed the service fees paid by you for the specific service in question.

Excluded Damages

We are not liable for indirect, consequential, punitive, or incidental damages.

Force Majeure

We are not liable for delays or failures due to circumstances beyond our reasonable control including but not limited to: RBI regulatory changes, banking system failures, government actions, natural disasters, pandemics, or technical infrastructure failures.