Kindly review these Terms of Service carefully before using the Lumen Loan App
SHREE AMAR RAJ FINANCE PRIVATE LIMITED (hereinafter referred to as the “Lender”, “Service Provider”, “Company,” “We,” “Us,” or “Our”) is a licensed Non-Banking Financial Company (“NBFC”) incorporated under the laws of India, with its registered office at X - 1509, Gali No - 7, Satnam Road, Ragarh Colony, Delhi East 110031. The Company acts as both the Lender and the Service Provider, directly offering loan services through its proprietary digital platforms, including the Lumen Loan mobile application (“Platform”, “App”) and the official website at https://www.shreeamarrajfinance.com (“Website”). The App and Website are collectively referred to as the “Platform.”
As the Service Provider, the Company ensures the smooth functioning of the Platform and facilitates end-to-end digital lending services, including application, disbursal, and repayment processes. As the Lender, the Company directly provides personal loans to eligible Users in compliance with applicable laws and regulations.
By downloading, accessing, or using the Platform, You (“User,” “You,” or “Your”) agree to comply with these terms and conditions (“Terms”), which constitute a legally binding agreement between You and the Company. These Terms, together with the Privacy Policy, govern Your use of the Platform and its services.
If You do not accept these Terms, You must not proceed to use the Platform.
By agreeing to these Terms, You confirm that You are at least 18 years old, legally capable of entering into binding agreements, and fully understand and accept the obligations set forth herein.
NOTE: THE COMPANY OPERATES THE PLATFORM BOTH AS A SERVICE PROVIDER AND AS A LENDER, AUTHORIZED TO DIRECTLY PROVIDE LOANS TO ELIGIBLE USERS.
Headings are included for convenience only and do not affect the interpretation of these Terms. Please read these Terms carefully before proceeding to use the Platform.
The Company provides various loan products, including personal loans and secured loans. These offerings are designed to meet diverse financial needs, subject to eligibility criteria and terms set forth by the Company. Users may apply for loans directly through the App after completing the required documentation and verification process. The Company retains the right to approve or reject any application based on its internal evaluation policies.
Loan Details：
Loan Amount: ₹1,000-₹50000
Tenure (days): 91-120
Daily Interest Rate: 0.048%
Service Fee: 0-3% (including GST)
Maximum APR: 19.14%
For Example:
Loan Amount: ₹20,000
Tenure (days): 120
Daily Interest Rate: 0.048%
Service Fee (3%, including GST)
Calculation:
Service Fee (3%, including GST): ₹600
Amount Disbursed to User: ₹19,400 (₹20,000 - ₹600)
Total Interest: ₹1,152
Total Repayment: ₹21,152 (₹20,000 + ₹1,152)
For users seeking larger amounts or secured credit, the Company offers loans against collateral, such as residential or commercial properties. These property-backed credit facilities are subject to property valuation, legal verification, and additional documentation. The terms, including the loan tenure and interest rates, are customized based on the value of the collateral and the borrower's profile.
Users may enjoy exclusive benefits such as cashback, discount coupons, or reduced interest rates for timely repayments or participation in promotional programs. Detailed terms of rewards will be communicated via the App, and eligibility for these incentives will be determined at the sole discretion of the Company.
By using the Platform, You agree to:
Provide accurate and complete personal, financial, and contact information.
Use the Platform only for lawful purposes and not engage in any activity that disrupts its operations.
Maintain confidentiality of Your account credentials and immediately report any unauthorized access.
Repay the loan, including principal and applicable fees, as per the repayment schedule agreed upon.
Failure to comply with these obligations may result in restricted access to the Platform or legal consequences.
The Company imposes certain fees, including processing charges, administrative costs, and applicable taxes, which are transparently disclosed at the time of loan approval. Loan repayments can be made through the App using approved payment methods. Late repayments may attract penalties, as detailed in the loan agreement.
You violate any provision of these Terms.
Fraudulent or unauthorized activities are detected.
Regulatory or legal compliance requires such action.
In such cases, any outstanding dues must still be settled by You.
The Company strives to maintain uninterrupted access to the Platform but does not guarantee error-free or continuous operation. External factors, including network or system failures, may impact service availability. The Company is not responsible for third-party inaccuracies or delays affecting Your use of the Platform.
All content, logos, software, and materials provided through the Platform are owned by the Company and protected under applicable intellectual property laws. Unauthorized use, reproduction, or distribution of any part of the Platform is strictly prohibited.
By using the Platform, You grant the Company permission to access and use Your personal and financial data strictly for verification, processing loans, and improving services. The Company complies with data protection laws and ensures that all consents obtained are transparent and lawful.
The Company is not liable for any indirect, incidental, or consequential damages arising from the use of the Platform, except as explicitly required by applicable law. The maximum liability in any dispute will be limited to the amount of service fees paid by You, excluding the loan principal and interest.
You agree to indemnify and hold harmless the Company, its affiliates, directors, and employees from any claims, damages, or losses arising out of:
Your violation of these Terms.
Unauthorized use of the Platform.
Any breach of applicable laws or regulations.
These Terms shall be governed by the laws of India. In the event of disputes, the parties shall first attempt amicable resolution. If unresolved, the matter shall be referred to arbitration under the Arbitration and Conciliation Act, 1996. The arbitration proceedings will be conducted in English, and the venue shall be Delhi.
These Terms constitute the entire agreement between You and the Company concerning the use of the Platform. If any provision is found unenforceable, the remaining sections shall continue in effect. Any failure by the Company to enforce a provision does not constitute a waiver of its rights.
For any complaints, issues, or disputes, You may contact our grievance redressal officer at help@shreeamarrajfinance.com or write to us at our registered address. The Company aims to resolve all grievances within 30 business days.