Document

Loan Agreement

This Simple Credit Agreement ("Agreement") is made between mPokket-personal loan app (the "Lender") and the individual named in the loan application (the "Customer"). Collectively, the Lender and the Customer are referred to as the "Parties." The terms, definitions, and conditions set forth below shall govern this Agreement.

For a maximum period calculated from the date of disbursement , the Borrower agrees to repay the Lender the granted line of credit, as well as the agreed ordinary interest, related charges, and any other amounts due in accordance with the terms of this Agreement.

The Lender grants a Loan for , excluding interest, fees, donations, VAT, and any other taxes or fees arising from this Agreement. After deducting interest and fees, the Borrower will receive . The loan will mature exactly on with an annual percentage rate of .

The Borrower has full legal right, power, and authority to execute, deliver, and perform all obligations set forth in the Loan Documents.

Each Loan Document constitutes a legal, valid, and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms.

The Loan Documents, including all representations and warranties therein, together with the Borrower’s compliance with their terms and conditions, are in full accordance with all applicable agreements, contracts, laws, regulations, and orders binding upon the Borrower or affecting its income or assets.

The Borrower has no criminal record and is entering into the Loan Documents voluntarily and of their own free will.

The Borrower's existing loans and obligations with other lenders (including banks, financing companies, and credit card companies) are current and not delinquent or past due.

All documents, communication, and information provided by, or on behalf of, each Borrower are complete, accurate, and true.

The representations and warranties made by each Borrower as of the date of execution of each Loan Document and are deemed repeated throughout the duration of the Loan.

The Borrower shall promptly notify the Bank's Customer Care department via phone or email of any changes to essential information, including residential address or contact details. Should any discrepancy arise in the Borrower's name as recorded in the Loan Documents, corrected documents will be issued to reflect the accurate name. Additionally, any change in employment status must be reported within two (2) business days.

The Borrower agrees to be bound by these Terms and Conditions and all terms outlined in the Loan Documents.

The Borrower shall repay all outstanding amounts, fees, finance charges, interest, and any other unpaid balances as specified in the Loan Documents.

Each Borrower agrees to promptly provide and submit all required documents and information as needed throughout the loan term.

Each Borrower agrees to use the Loan solely for personal purposes and the declared intent stated in the application, and not for any unlawful activities or purposes.

Each Borrower agrees that the credit agreement shall remain valid and enforceable even in the event of unforeseen circumstances such as the Borrower's death or permanent disability, until "mPokket-personal loan app" receives formal notice of such an event.

Each Borrower acknowledges that the Terms and Conditions, along with the Loan Documents, are legally binding and shall benefit both "mPokket-personal loan app" and the Borrower(s), including their respective estates, heirs, personal representatives, assigns, successors-in-title, and any other parties who may acquire rights under these agreements.

Any applicable Documentary Stamp Tax related to the loan shall be the responsibility of the Borrower and will be deducted from the net proceeds of the loan.

Prior to the Loan taking effect, the Borrower(s) will be notified of the applicable interest rates as detailed in the Loan Documents. Each Borrower agrees to pay the specified interest rate, whether standard or preferential, in accordance with the terms set forth therein.

Unless otherwise stipulated by mPokket-personal loan app, the interest rate applicable to the Loan shall be the regular interest rate as stated in the Disclosure Statement.

The Borrower must promptly notify the Bank's Customer Care department by phone or email of any changes to essential information, including residential address or contact details. If the Borrower's name in the Loan Documents contains any discrepancies, corrected documents will be issued to reflect the accurate name. Any changes to employment status must also be reported within two (2) business days.

The Borrower agrees to comply with and be bound by these Terms and Conditions and all provisions specified in the Loan Documents.

Each Borrower commits to repaying all outstanding amounts, fees, and finance charges, including interest rates or any other unpaid balances, as outlined in the Loan Documents.

Each Borrower agrees to promptly furnish and submit all necessary documents and information as required during the loan period.

Each Borrower agrees to use the Loan exclusively for personal purposes and the declared intent specified in the application, and not for any illegal activities or purposes.

Each Borrower agrees that the credit agreement will remain valid and enforceable even in the case of unforeseen events such as the Borrower's death or permanent disability, until the "mPokket-personal loan app" is formally notified of such an event.

Any applicable Documentary Stamp Tax associated with the loan shall be the Borrower's responsibility and will be deducted from the net proceeds of the loan.

The Borrower agrees to pay the late payment fee specified in the Loan Documents if the monthly installment is not paid in full by the due date. "mPokket-personal loan app" will collect the late fee, along with any applicable penalties and interest, starting the calendar day after the missed payment and continuing until all overdue amounts are settled.

At the sole discretion of mPokket-personal loan app, a Borrower shall be considered in default, irrespective of cause or voluntariness, upon the occurrence of any of the following events:

Failure to pay any principal, interest, fees, or other amounts due under these Terms and Conditions or any other Loan Document by the scheduled payment date.

Provision of inaccurate, incomplete, or misleading information or representations in connection with the Promissory Note, these Terms and Conditions, any additional Loan Documents, or any other documentation required by or submitted to mPokket-personal loan app.

Failure by any Borrower to perform, or default upon, any term, obligation, or covenant contained in any contract, evidence of indebtedness, or related documents to which they are a party.

Failure by any Borrower to make payments or default on any principal or interest obligation, or any breach of a stipulation, duty, or agreement under any loan or credit agreement with another financial institution, individual, or organization, shall constitute a breach of their obligations hereunder.

If any Borrower fails to adhere to the terms of any contract with financial institutions or other entities, such as failing to repay borrowed money, or if any conditions of default are triggered under those contracts, such actions will constitute a breach of their commitments.

Any Borrower becomes insolvent or unable to pay his/her/their debts or other payment obligations when due or commits or suffers any act of insolvency.

Any Borrower applies for voluntary relief or receives involuntary reliefs or is the subject of involuntary proceedings under any bankruptcy or insolvency law, dies, or becomes legally incapacitated.

Any of the properties of any Borrower, real or personal, becomes the subject of garnishment, attachment, levy, expropriation, seizure, execution, or other legal processes.

If any Borrower challenges the legitimacy or enforceability of the Promissory Note, these Terms and Conditions, or the other Loan Documents, or if they formally dispute in writing the overall responsibility of the Borrower(s) as per any of the mentioned documents, it will be considered a repudiation of their obligations.

“mPokket-personal loan app” believes on reasonable grounds that any Borrower fraudulently misrepresented any information or submitted any falsified documents in order to facilitate the granting of the Loan;

Any event or circumstance transpires that, in the reasonable opinion, will adversely affect any Borrower’s performance or ability to pay the obligations as they fall due under the Loan.

In the event of a Default, "mPokket-personal loan app" reserves the right, though not obligated, to deem the entire outstanding principal of the Loan, all accrued and unpaid interest, and any unpaid penalties to become immediately due and payable. At that point, they will be due without the necessity for presentation, demand, protest, or any additional form of notice, all of which are hereby explicitly waived by each Borrower.

Upon default and in addition to the principal amount, interest and late payment charges, each Borrower agrees to pay the charges on the outstanding amount due as stated in the Loan Documents. Such charges may consist of the following:

The aforementioned fees or charges are clearly outlined in the Disclosure Statement and Amortization Schedule.

Upon default, the Borrower acknowledges that "mPokket-personal loan app" may appoint representatives, agents, or third-party agencies to enforce its rights under the Loan. The Borrower consents to the disclosure of relevant account information to these authorized parties and agrees to indemnify mPokket-personal loan app for any damages, costs, or liabilities resulting from such disclosures.

If the Borrower fails to repay the full amount due by the Payment Date, the account will be classified as delinquent.

Upon delinquency, the Borrower authorises mPokket-personal loan app to report their name, loan details, and related information to credit reporting agencies and relevant financial industry databases.

Additionally, the Borrower grants mPokket-personal loan app the authority to sell, assign, or transfer all or part of its rights and obligations under the Loan Documents to any individual or entity.

Each Borrower affirms and guarantees that the third-party reference individuals whose details are supplied are personally acquainted with them, are of legal age, possess the requisite legal capacity, reside in India, and possess active local mobile numbers. The Borrower also certifies that they have secured prior permission from these third parties before providing their names and contact information and that such third parties have agreed to potential contact by "mPokket-personal loan app" for verification processes.

The Borrower waives all rights to confidentiality regarding the Loan, Promissory Note, and related documents under applicable laws, in favor of "mPokket-personal loan app", the Bangko Sentral ng Pilipinas (BSP), relevant courts, and any other governmental or administrative authorities requiring disclosure of such information.

The Borrower may not assign any rights or obligations under these Terms and Conditions or the Loan Documents.

"mPokket-personal loan app" reserves the right to sell, transfer, assign, or participate all or any portion of its rights and obligations under the Loan, these Terms and Conditions, and/or other Loan Documents to one or more parties at any time, without requiring the Borrower's consent or prior notice.

The Borrower acknowledges the confidentiality of all information acquired during the loan application process, including details regarding "mPokket-personal loan app"'s products, services, operations, and its affiliated entities and personnel. The Borrower agrees to maintain strict confidentiality and shall not disclose any such information to third parties.

Each Borrower hereby reaffirms their consent to and acceptance of the terms of the Privacy Statement, which are incorporated into this Agreement by reference and shall apply as if fully set forth herein.

Each Borrower agrees to provide accurate and truthful information and, if other Borrowers are involved, guarantees that they will do the same. They consent to the collection, processing, maintenance, retention, verification, and use of such information in accordance with mPokket-personal loan app’s Privacy Policy, including all terms, conditions, and permissions contained therein.

In addition to the consents, authorizations and agreements stated in the Privacy Statement, each Borrower hereby agrees that the collected Personal Data can also be used for or in the following means:

b. used in any market research or study of “mPokket-personal loan app” on its loan products.

c. marketing of products and services of “mPokket-personal loan app”, and its Affiliates, and of Merchant-Partners, including marketing initiatives, special offers, or promotional activities through e-email, SMS, telephone calls, social media, e-commerce or other means of communication or channels.

d. enhancing the products of “mPokket-personal loan app”, which includes surveys, benchmarking, profiling, statistical analysis, planning and research.

e. curation of offers of other products or services that will fit each Borrower’s profile.

"mPokket-personal loan app" reserves the right to modify these Terms and Conditions at any time, provided that Borrowers are notified at least 30 calendar days before such changes take effect. Notification will be delivered through the communication methods specified in these Terms and Conditions.