Terms of use

01About these terms

These terms govern your use of the website at frivo.in, the Frivo app at app.frivo.in and any Frivo mobile app (the "Services"). Frivo is not yet incorporated as a company; until it is, the Services are run by its founder, Payash Gaur, from Sector-44, Gurugram, Haryana 122003, India ("Frivo", "we", "us"). Once Frivo is incorporated, the company will run the Services and we will update these terms to say so.

By creating an account or using the Services you agree to these terms and to our Privacy policy. If you do not agree, please do not use the Services.

02Who can use Frivo

You must be at least 18, resident in India and able to enter into a binding contract. You may hold one account, in your own name.

03What Frivo is, and is not

Frivo is a loan facilitation, advisory and debt-management platform. We help you track your loans and cards, understand what they cost, and find lenders that will offer you a lower rate. Frivo works as a sub-agent of a Direct Selling Agent (DSA) that has arrangements with regulated banks and NBFCs. When you choose an offer, Frivo passes your application to that DSA, which submits it to the lender. Frivo has no direct agreement with any lender.

Frivo is not a lender. We do not extend credit, make credit decisions or guarantee that a loan will be approved. Every loan is sanctioned and disbursed by the lender at its sole discretion, under its own credit policy, and you sign the loan agreement directly with that lender. The lender's Key Fact Statement, sanction letter and loan agreement govern the loan.

Frivo is not a registered investment adviser, and nothing in the Services is investment, tax or legal advice. Our analysis is about the cost of borrowing, based on the information you give us.

04Lenders available through Frivo

Through our DSA partner, Frivo can currently reach these regulated lenders:

• IDFC First Bank
• HDFC Bank
• Bajaj Finserv
• ICICI Bank
• Aditya Birla Capital
• L&T Finance
• Hero FinCorp
• Muthoot Fincorp

Frivo has no direct agreement with any of them. Their names and logos are shown only to identify them. The lenders available to you can change as our DSA partner's arrangements change, and each lender's own website carries its terms, fees and grievance contacts.

05How offers work

• We show the offers available to you at equal weight, ordered by what you save, never by what Frivo earns. If no lender beats your current rate, we tell you so.
• Rates, EMIs and savings shown on the website and in calculators are indicative and for illustration. Your actual rate, fees and terms are set by the lender after it assesses your application, and are confirmed in its Key Fact Statement and sanction letter.
• Net savings we show take into account the fees we know of, such as processing and foreclosure charges. Your lender's final figures take precedence.
• Where a lender offers a cooling-off or look-up period, you may exit the loan within it on the terms in the lender's Key Fact Statement.

06Fees

Frivo charges you nothing. When a loan you choose is disbursed, the lender pays a commission to our DSA partner, and Frivo is paid a share of it. We never collect money from you on a lender's behalf, and we never ask you to pay anyone to secure a loan.

Lenders may charge their own processing, foreclosure or other fees. These are payable to them under their terms and are shown in their Key Fact Statement.

07Your account

• You sign in with your mobile number and a one-time password. Keep your phone and your codes to yourself; you are responsible for what is done in your account.
• Give accurate, current information. Offers and savings depend on it, and lenders verify what you submit.
• Upload only documents that belong to you, or that you are authorised to share.
• Tell us at once at support@frivo.in if you think someone else has used your account.

08Acceptable use

You agree not to:

• give false or misleading information, or apply in someone else's name;
• use the Services for fraud, money laundering or any unlawful purpose;
• copy, scrape, reverse engineer or resell the Services or their content;
• interfere with, probe or overload our systems, or get around any security or rate limit; or
• upload anything harmful, such as malware.

09Frivo AI

Frivo AI explains your loans and documents in plain language. It can make mistakes. Treat its answers as information, not advice, and check any figure against your lender's documents before you act on it.

10Our content and brand

The Services, their design, text, software and the Frivo name and logo belong to Frivo. You may use them for your personal, non-commercial use of the Services. Lender names and logos belong to their owners and are shown only to identify the lenders.

11Lender and third-party services

To complete KYC, e-sign or disbursal you may be taken to a lender's own website or app. Those services are run by the lender under its own terms and privacy policy, which apply to you there.

12Disclaimers and liability

We work to keep the Services accurate and available, but they are provided "as is". We do not promise that any lender will approve you, or that you will achieve a particular saving.

To the extent the law allows, Frivo is not liable for indirect or consequential losses, or for a lender's decisions, delays or terms. Our total liability to you for any claim is limited to ₹1,000. Nothing in these terms limits a liability that cannot be limited by law.

You agree to compensate Frivo for losses caused by your breach of these terms or by false information you give.

13Closing your account

You can delete your account at any time in the app (Settings, then Delete account). We may suspend or close an account that breaks these terms or the law, or to protect members or lenders from fraud. Obligations under a loan you have taken continue with your lender regardless.

14Changes to the Services and these terms

We may change the Services and these terms. When we change these terms we update the date at the top, and tell you in the app or by email before a significant change takes effect. If you keep using the Services afterwards, the new terms apply.

15Complaints and grievance redressal

Write to support@frivo.in first; most things are settled there. If you are not satisfied, or your complaint is about how a loan was sourced or serviced through Frivo, contact our Grievance Redressal Officer:

We acknowledge complaints within two working days and resolve them within 30 days. A complaint about a loan itself can also be raised with the lender's own grievance officer. If a lender does not resolve it within 30 days, or you are not satisfied with its reply, you may complain under the Reserve Bank - Integrated Ombudsman Scheme at cms.rbi.org.in.

16Governing law

These terms are governed by the laws of India. Courts at Gurugram, Haryana have exclusive jurisdiction, subject to any right you have to approach a consumer forum or the RBI Ombudsman.