1- Terms Of Use

1.1   Thank you for visiting www.salaryontime.com by accessing or using the website www.salaryontime.com whether automated or otherwise, you, a registered or guest user in terms of the eligibility criteria set out herein (“User“), agree to be bound by these Terms and Conditions ("Terms of Use") and any additional terms and conditions that are referenced below or otherwise may apply to specific areas of the website, from time to time. We encourage our Users to read these Terms of Use carefully while using the website.

1.2   The Website is owned and operated by Kasar Credit & Capital Private Limited, a leading fintech company offering a robust platform for short-term personal loans. We provide the short term personal loan with with Kasar Credit & Capital Private Limited, an RBI-licensed NBFC, to provide timely financial solutions. All references to the Website in these Terms of Use shall deem to refer to the aforesaid entity in the inclusion of the online portal.

1.3   The contents set out herein form an electronic record in terms of the Information Technology Act, 2000 and rules there under as applicable and as amended from time to time. As such, this document does not require any physical or digital signatures and forms a valid and binding agreement between the website and the User. Further, please be advised that these Terms of Use are made available to the User pursuant to and in accordance with the provisions of Rule 3 (1) of the Information Technology (Intermediaries Guidelines) Rules, 2011 that require publishing the rules, regulations, privacy policy and terms of use for access or usage of the website.

1.4   We reserve the right to change these Terms of Use at any time. The changes will be effective from the date and time of the posting of such changes. By continuing to use the website after we post any such changes, you accept the Terms of Use as modified.

2- Customer Eligibility

2.1   Use of the Website is available only to such persons who can legally contract under the Indian Contract Act, 1872. Persons who are “incompetent to contract” within the meaning of the Indian Contract Act, 1872, including minors, un-discharged insolvents, etc., shall not be eligible to use the website. If the person accessing the website is a minor i.e., under the age of 18 years, such person shall not register as a User of the Website and shall not transact on or use the website.

2.2   The Website reserves the right to terminate any membership and/or refuse to provide access to the website if it is brought to the website’s notice or if it is discovered that the person accessing/using the website is under the age of 18 years.

2.3   By accepting the Terms of Use, the User irrevocably declares and undertakes that he/she is of legal age i.e., 18 years or older, and capable of entering a binding contract and that such acceptance shall be deemed to form a contract between the website and such User to the extent permissible under applicable laws.

2.4   The User must have a rupee-denominated savings/current account with a bank in India.

2.5   User must have PAN (Permanent Account Number), allotted by the Income Tax Department of India.

2.6   By accepting the Terms of Use, you acknowledge that you have also read and understood the risks involved in lending and/or borrowing through the website.

2.7   To be eligible as a Borrower

• 2.7.1   User must be a salaried individual.
• 2.7.1   User must be based in India.
• 2.7.1   User should not be unemployed at any time during the last 6 months.
• 2.7.1   User should not have any civil or criminal litigation instituted against him/her.
• 2.7.1   User must be receiving his/her monthly salary in a bank account.
• 2.7.1   User must only be seeking a loan amount between ₹10,000 and ₹1,00,000 with a loan term of not more than 24 months.

3- Sign up and Registration

3.1   Any person may access the website either by registering on the website or using the website as a guest. However, a guest user may not have access to all sections of the website, which shall be reserved only for registered Users, and which may change from time to time at the sole discretion of the website.

3.2   All eligible Users who wish or have to register themselves with the website shall be required to create an account by filling in the details prescribed in the website.

• 3.2.1   All eligible users who wish or have already registered themselves with the website would be required to have an account created on our website by filling up all necessary details.

3.3   By applying for registration, the User agrees and authorizes us to carry out such checks and verification. As part of the registration process-

• 3.3.1   We shall run identity, KYC, and fraud checks.
• 3.3.2   Obtain a credit rating for Users from the Credit Information Bureau.
• 3.3.3   Carry out residence and/or work verification at your employment location.

3.4   If any User provides any information that is untrue, false, not updated, or incomplete or the website has reasonable grounds to believe that such information is untrue, false, not updated, or incomplete, the website shall have the right to suspend or terminate the relevant User account and refuse all current or future use of the website (or any portion thereof).

3.5   Users of the Website may be required to provide certain personal information and expressly permit the website for accessing and/or collecting and retaining such personal information. Such provision, collection, storage, retention, use, and disclosure of the personal information of the Users shall be subject to the website’s privacy policy available at https://www.salaryontime.com/privacy-policy

3.6   Registration Fee to register as a Borrower: There is no fee charged for registration.

4- Use of Website

• 4.1   To borrow through the website, you must log on to www.salaryontime.com.
• 4.2   All registered Users of the Website shall be solely responsible for activities relating to their account, and the website or the entity operating the same shall not in any manner be held responsible and/or liable for any illegal acts including but not limited to misuse, unauthorized access, hacking of the website or refusal to access the website due to such reason.
• 4.3   All Website Users hereby confirm and acknowledge that they have been provided with a copy of the Loan Agreement to be entered between the Borrower and the Lender. All Users further confirm that they have read and understood the terms and conditions of the Loan Agreement and undertake to unconditionally abide by the same.
• 4.4   If any User learns or becomes aware of any instance of hacking or misuse of their SalaryOnTime Account, they shall immediately notify the Admin without delay.
• 4.5  We may refuse to act on any instruction received from a User that we believe:
  • (a) is unclear;
  • (b) was not given by the User;
  • (c) might cause a legal or regulatory breach; or
  • (d) suggests illegal use of the website.
• 4.6   The Website disclaims, and the User waives, any and all claims/liabilities arising out of any unlawful usage of the website, misuse of Personal Information, or inaccessibility of the website for reasons beyond the website’s control. No User shall trade or sell such accounts in any manner.
• 4.7   Not with standing anything contained herein, the website may be inaccessible at its sole discretion, including but not limited to regular maintenance. Under no circumstances shall the website be held liable for losses arising out of such inaccessibility.
• 4.8   The Website grants every User a limited, non-exclusive, revocable license to access the website only to the extent such use complies with these Terms of Use.
• 4.9   The User shall be responsible for obtaining access to the website which may involve third-party charges and must provide necessary devices and equipment. The User shall not bypass any security measures implemented by the website.
• 4.10   Any unauthorized access or use of the website (including through a User’s registered account or device used to access the website) shall immediately terminate the permission/license granted.
• 4.11   Users shall not save, copy, download, print, distribute, or store any content of the website for commercial purposes. Any such use shall constitute a breach of these Terms & Conditions.
• 4.12  The Website strictly prohibits:
  • (a) Using website content for any competitive or third-party commercial purpose
  • (b) Caching, unauthorized linking, or framing of website content;
  • (c) modifying, distributing, transmitting, reverse engineering, or selling content;
  • (d) uploading viruses or harmful code;
  • (e) scraping or data-mining the website;
  • (f) placing unreasonable or disproportionate load on website infrastructure.
• 4.13   The Website reserves the right to refuse or cancel registration, remove any person from accessing the website, and terminate account access at any time without notice.

5- Terms, Conditions & Process for Lending

5.1   In case the Lender wishes to lend, the Lender will have an option to select one or multiple Borrower profiles from those sourced on the website.

5.2  The Lender agrees to offer the first loan within 30 (Thirty) days from the date of registration through the website.

5.3  Upon selecting the Borrower, the Registered Lender will transfer the intended lending amount (“Lending Amount”) into the designated Escrow Account through their bank account using RTGS/NEFT.

5.4  Upon successful transfer of the Lending Amount to the Escrow Account, and once SalaryOnTime confirms the funds in the Escrow Account, the Lending Amount will be reflected in the User’s SalaryOnTime Account. This may take 4–6 hours. If the transfer is made after banking cut-off hours or on a holiday, it will reflect on the next working day.

5.5  Upon selecting and confirming the Borrower’s profile (“Selected Borrowers”), an amount equivalent to the credit intended for the Selected Borrower(s) will be allocated from the Lender’s SalaryOnTime Account.

5.6  The Lender and Borrower shall execute the Loan Agreement digitally or physically.

5.7  The amount will then be transferred to the Selected Borrower from the Escrow Account.

5.8   Charges and Fees: The website shall be entitled to charge applicable facilitation fees only if Lenders receive EMIs. SalaryOnTime may revise such charges from time to time, and any changes will be communicated via email, SMS, and/or push notifications.

6- Use of Website

6.1  A Borrower can borrow from the website by posting a loan requirement through the platform and completing the application process.

6.2  During the registration process, you must provide your bank account details for the purpose of repayments due to the Lender.

6.3  By posting a Loan Request, you agree to-

• (a) Provide all required information accurately. If any information is discovered to be false, untrue, incomplete, or misleading, your Loan Request may be void and actions may be taken.
• (b) Authorize SalaryOnTime to obtain your credit rating from any Credit Information Bureau in India for assessment of repayment credibility.
• (c) Acknowledge that Credit Bureaus may link your financial records with those of financial associates (e.g., joint account holders) for credit assessment.
• (d) Provide consent as follows:

  “I hereby give my free consent and authorize Kasar Credit & Capital Pvt. Ltd., operating the SalaryOnTime platform, and its service provider to obtain my Credit Information Report and Credit Score from CIBIL / Equifax / Experian / CRIF Highmark solely for the purpose of risk assessment and credit underwriting and not for any other purpose.”

• (e) Accept any loan amount sanctioned that meets the borrower eligibility criteria.

6.4   Based on a risk profile assessment, SalaryOnTime may request the Borrower to provide a co-signer before disbursement. Failure to do so may result in rejection of the loan request.

6.5   The Borrower agrees to accept the loan offer(s) matching their borrowing criteria and execute the Loan Agreement electronically or physically. A loan summary will be displayed in the Borrower’s SalaryOnTime Account.

6.6   Disbursement of funds will occur upon execution of required documentation and fulfillment of all conditions, to the sole satisfaction of the Company. Rounding adjustments may apply for simplified processing.

6.6.1 Charges & Fees

Charges and Fees: The website shall be entitled to charge the following fees and charges. a) Loan processing charge for every loan availed by the borrower b) GAP Interest charges if eligible c) Tracing charges (finding you if we are unable to find you at the resident address provided by you or the work location provided by you at the time of Loan Request, and we have to trace your new address) – Rs. 300; d) No-Response fee (if you fall into arrears and we cannot contact you for 15 consecutive days) – Rs. 300; e) Recollection Fee (If our recovery person visits your office or residence to collect your EMI payment or visits your office or residence premises as you are not paying your EMI on time) – Rs. 300 f) Change of Repayment Date (If you want to change EMI repayment date) – Rs. 300 g) Change of Nominated Account (If you want to change the Nominated Account from which your EMIs are being repaid) – Rs. 300 h) Litigation costs and expenses, including legal fees and expenses, to cover litigation recover outstanding arrears, in which case the Borrower will be advised of such costs and expenses if such action proves necessary. i) Late Payment Fee: If a Borrower has delayed a repayment, salaryontime reserves the right to charge you an administration fee for the work it does in attempting to collect your Repayments (“Late Payment Fee”). In case the Loan amount is less than or equal to Rs. 100,000 If the Borrower has delayed his repayment by a week (7 days from EMI date), he will be charged Rs. 750 If the Borrower has delayed his repayment by 2 weeks (14 days from EMI date), he will be charged Rs. 1,500 If the Borrower has delayed his repayment by 3 weeks (21 days from EMI date), he will be charged Rs. 2,250 If the Borrower has delayed his repayment by 4 weeks, he will be charged Rs. 3,000 For delays of an EMI beyond a month, the Borrower will be charged an additional 2% penal interest rate; on the overdue amount. In case the Loan amount is more than Rs. 1,00,000 but less than or equal to Rs. 3,00,000 If the Borrower has delayed his repayment by a week (7 days from EMI date), he will be charged Rs. 1,000 If the Borrower has delayed his repayment by 2 weeks (14 days from EMI date), he will be charged Rs. 2,000 If the Borrower has delayed his repayment by 3 weeks (21 days from EMI date), he will be charged Rs. 3,000 If the Borrower has delayed his repayment by 4 weeks, he will be charged Rs. 4,000 For delays of an EMI beyond a month, the Borrower will be charged an additional 2% penal interest rate; on the overdue amount. In case the Loan amount is more than Rs. 3,00,000 If the Borrower has delayed his repayment by a week (7 days from EMI date), he will be charged Rs. 1,500 If the Borrower has delayed his repayment by 2 weeks (14 days from EMI date), he will be charged Rs. 3,000 If the Borrower has delayed his repayment by 3 weeks (21 days from EMI date), he will be charged Rs. 4,500 If the Borrower has delayed his repayment by 4 weeks, he will be charged Rs. 6,000 For delays of an EMI beyond a month, the Borrower will be charged an additional 2% penal interest rate; on the overdue amount The above charges will be divided among lenders and salaryontime. The ratio of the split of charges is updated in Lender FAQ. These charges will be applicable on all the loans currently running on the platform. salaryontime may revise the ratio of the split from time to time. Any such changes will be updated to the lender via email and/or SMS and/or push notifications. j) All cost in relation to stamp duty and other related costs for preparation of the documents k) Loan Cancellation charges to the borrower when cancelled by him/her – Rs. 1,000 l) Loan Cancellation charges to the lender when cancelled by him/her – Rs. 1,000

7- Settlement of Payment

7.1   Any money received from the Borrower, including delay charges, late fees, penal charges, or any other applicable charges, shall be kept in the designated Escrow Accounts.

7.2   These will be recorded as credits to the Lender’s SalaryOnTime Account, viewable upon logging into the SalaryOnTime platform.

7.3   All collected repayments will be transferred to the Lender’s SalaryOnTime Account within 3 days from the date of receipt of the EMI from the Borrower:

• (a) Lender will be notified when the SalaryOnTime Account reflects the EMI received.
• (b) The Lender may withdraw funds to their registered bank account via withdrawal request on the platform. No interest will accrue on funds lying in the SalaryOnTime Account.
• (c) Example: If a Borrower pays EMI on the 2nd of the month, the amount will be reflected in the Lender’s SalaryOnTime Account by the 5th of the month, without any interest being paid on such balance.
• (d) Borrowers repay via auto-debit/direct debit from their bank account. This results in initial debit/credit in the Borrower’s loan account and corresponding credit to the Lender’s SalaryOnTime Account. The repayment amount shall be rounded up to the nearest rupee. Example: If EMI comes to ₹3,633.40, the Borrower must pay ₹3,634.
• (e) EMI and delay penalty credits to Lenders will be rounded to two decimal places. Example: If EMI results in ₹180.1442, Lenders will receive ₹180.14.
• (f) Any residual amount caused due to rounding adjustments will be transferred to the platform as an adjustment amount. Example: If EMI results in ₹180.1442, ₹180.14 is credited to Lenders and ₹0.0042 is transferred as adjustment amount.

8- Loan Administration

8.1 EMI: EMI repayments will begin from the date of disbursement of the loan. The Lender shall start earning interest after 5 days of investment in the loan or from the date of disbursement, whichever is earlier.

8.2 Prepayment Terms: Borrowers may prepay the loan without any prepayment charges. For prepayment, Borrowers must email us at info@salaryontime.com.

If at the time of prepayment, the Borrower has already paid 3 (three) or more EMIs, then the Borrower must pay the outstanding principal along with accrued interest up to the date of prepayment.

If less than 3 (three) EMIs have been paid at the time of prepayment, the Borrower shall be liable to pay the interest equivalent to the first 3 EMIs along with the principal amount.

8.3 Missed Repayments: If the Borrower misses a repayment or anticipates difficulty in repayment as per the Loan Agreement schedule, the Borrower must notify the Company immediately at info@salaryontime.com. Upon receiving such notification, the Company will:

• (a) Explain delay charges and available options;
• (b) Inform the respective Lender;
• (c) Notify the Borrower if the loan has been transferred to the internal recovery team and classified as “Default”;
• (d) Report repayment default to the Credit Information Bureau — which may adversely impact the Borrower’s future credit eligibility.

8.4 Default Category: A Borrower shall be classified as a “Default” case if:

• (a) They fail to pay EMI for three (3) consecutive months;
• (b) Confirmation is received of the Borrower’s death;
• (c) The Borrower enters a terminal arrangement affecting the Loan Agreement;
• (d) Any other situation deemed valid by the Company as a classification of Default.

8.5 Repayment Date Changes: A Borrower wishing to change the repayment date (“Repayment Date”), other than due to incapacity to pay entirely, may raise a request for the same. Applicable fees may apply as stated in the Charges and Fees table.

9- Closing Your Loan Account

9.1  Once you have fully repaid your loan amount, you may request closure of your loan account by writing to us at info@salaryontime.com.

9.2  The Company reserves the right to terminate a loan account if any information provided by the Borrower is found to be false or if the Borrower breaches the Terms of Use. The account shall also be terminated if the Company receives confirmation of the Borrower’s death.

9.3  The Company further reserves the right to terminate the Borrower’s loan account if any fraudulent activity or conduct harming the reputation or interests of SalaryOnTime is suspected or confirmed.

10- Data Protection & Privacy

10.1   Service-related communications will be sent to the Borrower’s registered mobile number and email address. These notifications cannot be discontinued while the Borrower is an active user on the SalaryOnTime platform.

10.2   Occasional product or feature updates may be shared with registered users. Borrowers may choose to opt out of such promotional updates by modifying their communication preferences in the SalaryOnTime platform or by contacting care@salaryontime.com.

11- Data Protection & Privacy

11.1   While using the website, the User specifically undertakes not to host, display, upload, modify, publish, transmit, update, or share any information or content that:

• (i) Belongs to another person without authorization
• (ii) is grossly harmful, harassing, defamatory, obscene, pornographic, invasive of privacy, hateful, racially or ethnically objectionable, relating to or encouraging money laundering, gambling, or otherwise unlawful in any manner
• (iii) Harms minors in any way
• (iv) Impersonates any person or entity or misrepresents affiliation
• (v) Threatens the unity, integrity, security, or sovereignty of India or causes incitement to commit a cognizable offence
• (vi) Infringes any patent, trademark, copyright, or other intellectual property rights
• (vii) Contains software viruses or code designed to interrupt or limit functionality of any system or device
• (viii) Misleads recipients about the origin of messages or is offensive/menacing in nature
• (ix) Interferes with or disrupts services or servers/networks of the Website
• (x) Attempts to gain unauthorized access to any systems or networks connected to the Website
• (xi) Breaches website security or authentication procedures
• (xii) Causes harm to the Website or linked systems or resources
• (xiii) is unlawful or prohibited by these Terms of Use
• (xiv) Deletes or falsifies author information or proprietary notices
• (xv) Violates any applicable laws or regulations in India or abroad

12- Intellectual Property Rights

12.1 Intellectual Property Rights (“IPR”) shall include copyrights (registered or not), patents, trademarks, trade names, trade dresses, logos, designs, domain rights, database rights, software code, UI/UX rights, graphics, audio, video, animations, text, and any other proprietary rights related to the Website.

12.2 All IPR on the Website, including all digital assets and content, are the exclusive property of SalaryOnTime or its licensors and partners. The User shall not infringe any such IPR at any time.

12.3 Any IPR arising from use of the domain name or any web technology under www.salaryontime.com shall vest solely with the owner of the domain.

12.4 Nothing in these Terms transfers any IPR to the User. All such rights remain fully owned by SalaryOnTime and its permitted assigns.

12.5 Users shall not copy, reproduce, republish, upload, post, translate, distribute, or create derivative works of any content from the Website in any form, without prior written consent from SalaryOnTime or the rightful IP owner.

13- Indemnity

13.1 The User hereby agrees to indemnify, defend, and hold harmless SalaryOnTime, its parent company (Kasar Credit & Capital Pvt. Ltd.), subsidiaries, affiliates, partners, service providers, directors, officers, employees, and agents (collectively, “Indemnified Parties”) from any and all losses, liabilities, claims, damages, penalties, costs, and expenses (including legal fees) arising out of:

• (a) any breach of these Terms of Use by the User;
• (b) any third-party claims relating to misuse of the Website by the User;
• (c) violation of third-party rights including IPR by the User;
• (d) provision of incorrect, false, or unauthorized information by the User.

13.2 If an indemnifiable event occurs, SalaryOnTime may notify the User and the User shall be required to assist in the defense and settlement process of such claim(s).

13.3 The User shall not settle or compromise any claim involving SalaryOnTime without obtaining prior written consent, which may be withheld at the sole discretion of SalaryOnTime.

13.4 Under no circumstances shall SalaryOnTime or its affiliates be liable for any indirect, incidental, special, punitive, or consequential damages, including but not limited to loss of data, profits, or business opportunities, arising out of the User’s access to the Website or Services.

14- Report Abuse & Take Down Policy

14.1 If any User becomes aware of objectionable content on the Website, including but not limited to privacy violations, misuse of personal information, or infringement of intellectual property rights, SalaryOnTime may remove such content without prior notice either on its own or upon receiving a complaint.

14.2 Users may report such violations by emailing the Website team at care@salaryontime.com.

14.3 If any feedback, comments, or communications shared on the platform contain profanity or violate usage policies, Users may request removal or disciplinary action. Consequences may include temporary suspension, formal warnings, or permanent account suspension.

14.4 SalaryOnTime will consider the context of the violation and the User's account history before deciding appropriate action. Penalties may include, but are not limited to:

• (a) restrictions on services and account features;
• (b) loss of special status/privileges;
• (c) temporary or permanent account suspension;
• (d) reporting to authorities where applicable.

15- Feedback & Information

15.1 The Website reserves the right, at its sole discretion, to use any feedback, suggestions, or information submitted by the User to enhance or improve the Website and its services, without any restriction or obligation.

15.2 SalaryOnTime may, at its discretion, modify or make changes to the Website and its content on the basis of such feedback or information provided by Users.

15.3 Any improvements, modifications, or updates made to the Website based on such feedback shall be fully owned by SalaryOnTime, and Users shall not have any claim, including Intellectual Property Rights, over such enhancements.

15.4 By submitting any feedback or information, the User confirms that:

• (i) such feedback does not include any confidential or proprietary information
• (ii) the User is not entitled to any compensation for providing such feedback;
• (iii) SalaryOnTime is free to use the feedback for any purpose, commercial or otherwise.

16- Applicable Law

16.1 These Terms of Use and any disputes arising out of or in connection with the Website or its services shall be governed by and interpreted in accordance with the laws of India. The courts of New Delhi, India, shall have exclusive jurisdiction over all matters arising hereunder.

17- Dispute Resolution

17.1 In the event any dispute, difference, or claim arises out of or relating to these Terms of Use or the services provided on the Website, the parties shall first attempt to resolve such dispute amicably through good-faith negotiations. Such efforts shall continue for a minimum period of fifteen (15) days from the date either party issues a written notice requesting amicable resolution.

17.2 If the dispute cannot be settled amicably within the above period, the matter shall be referred to arbitration in accordance with the provisions of the Arbitration and Conciliation Act, 1996.

17.3 The arbitration shall be conducted by a sole arbitrator appointed by SalaryOnTime. The seat and venue of arbitration shall be New Delhi, India. The proceedings shall be conducted in the English language.

17.4 The decision of the arbitrator shall be final and binding on all parties involved. The costs of arbitration shall be borne as determined by the arbitrator.

18- Jurisdictional Issues

18.1 Unless otherwise specifically stated, the products and services mentioned or offered on the Website are intended solely for Users located within India. SalaryOnTime shall not be held liable for any use of its services or availability of products in geographic locations outside India where such access may be illegal or restricted under applicable laws.

19- Jurisdictional Issues

19.1 If you wish to make a complaint regarding the Loan Agreement or any service-related concern on the SalaryOnTime platform, you may email us at info@salaryontime.com with the details of your complaint and your account reference. SalaryOnTime will acknowledge your complaint within one (1) working day.

19.2 The Company will investigate and provide an initial response within five (5) working days. If you are not satisfied with the response, you may escalate the matter to the designated senior representative mentioned in the response for further review and resolution.

20- General Provisions

20.1 Notice: All notices or communications pursuant to these Terms of Use shall be provided to the User either via email or general notification on the Website. Any notice intended for SalaryOnTime shall be addressed to the Grievance Officer at info@salaryontime.com.

20.2 Assignment: These Terms of Use shall not be assigned by the User to any third party. However, SalaryOnTime reserves the right to assign or transfer its obligations to any third party without requiring the User’s prior consent.

20.3 Severability: If any provision of these Terms of Use is found to be invalid, illegal, or unenforceable, the remaining provisions shall continue to remain valid and enforceable.

20.4 Waiver: Any failure or delay by SalaryOnTime to enforce any provision of these Terms shall not be deemed a waiver of its rights. Any waiver shall be valid only if made in writing and duly authorized.

20.4 Relationship: Nothing contained herein shall be deemed to constitute a partnership, joint venture, agency, or employment relationship between SalaryOnTime and the User.

20.4 Force Majeure: SalaryOnTime shall not be held liable for any failure or delay in performance of its obligations due to events beyond its reasonable control including but not limited to acts of God, natural calamities, war, strikes, terrorism, network failures, system outages, government restrictions, pandemics, or any other cause which prevents performance of services.

21- Insurance for Loan or Borrower

21.1 This feature is currently not available. However, Borrowers and Lenders authorize SalaryOnTime to collaborate in the future with any insurance company registered with IRDAI for providing beneficiary insurance products without requiring fresh consent.

21.2 For any such insurance product introduced in the future, the Borrower or Lender, or both, may choose to pay the required premium amount to SalaryOnTime, which will then remit the same to the insurer on their behalf.

21.3 SalaryOnTime shall be designated as the nominee for such insurance policy and shall manage the claim process. Post claim settlement, SalaryOnTime will distribute the proceeds first towards the dues of the Lender(s), and any remaining amount shall be transferred to the Borrower’s bank account.

21.4 If the Borrower has irregular or consistently delayed payments, SalaryOnTime reserves the right to cancel the insurance policy. Any insurance policy issued shall be co-terminus with the Borrower’s loan tenure.

21.5 In case of any covered incident (such as permanent disability or accidental death of the Borrower), the beneficiary/nominee must notify SalaryOnTime, and SalaryOnTime shall initiate the insurance claim process on their behalf.

22- Definitions

22.1 In these Terms of Use, unless the context otherwise requires, the following terms shall have the meanings assigned below:

• (i) Borrower: A registered salaried individual on the Website who applies for or avails a loan.
• (ii) Credit Bureau Information: Credit information/report obtained from CIBIL, Experian, Equifax, or CRIF Highmark.
• (iii) Escrow Account: The designated bank account operated under applicable regulatory guidelines for facilitating loan transactions.
• (iv) Lender: An individual registered on the platform who provides funds to Borrowers.
• (v) SalaryOnTime Account: The digital account maintained by a User on the Website for viewing balance, loan details, and repayments.
• (vi) Prohibited Sectors: Any business or sector prohibited under the laws and regulations of India.
• (vii) RBI: The Reserve Bank of India, the regulatory authority governing financial institutions.
• (viii) Insurance Company: Any company registered with IRDAI and authorized to offer insurance products in India.
• (ix) Website: The official domain and digital platform owned and operated by Kasar Credit & Capital Pvt. Ltd. under the brand name “SalaryOnTime”.

Communication Consent

“By submitting your information, you authorize SalaryOntime to contact you via phone, SMS, RCS, WhatsApp, or email for informational and promotional purposes related to our services. You can opt out of promotional communication at any time by contacting us.