Terms & Conditions

We at Astu Technologies Private Limited (“our”, “us”, “we”, “Company”, “Astu”) have developed the Astu Credit mobile application (“App”) and are happy to have you with us. Please read these terms of use (“Terms”) carefully before you use the App since they constitute the agreement between you, us and Kudos Finance and Investments Private Limited (our “Lending Partner”). If you have any queries or concerns regarding these Terms, please contact our Grievance Officer (please refer Clause 13 below for details of our Grievance Officer).

For your ease, we have provided summaries of some crucial Terms. However, in case of any conflict between the summaries and these Terms, the Terms shall prevail.

These Terms incorporate the following documents (including all their variants and updates) by reference: (i) Astu Privacy Policy; and (ii) the agreement(s) executed by you (and co- applicants, if any) for availing the lending products made available by the Lending Partner ("User Loan Agreement") (if you avail a personal loan, housing loan or any other lending product using the App). By accessing or using our Services (as defined below), you agree (on behalf of yourself and your co-applicants, if any) to be bound by these Terms and to the collection and use of your information as set forth in the Astu Privacy Policy.

We may revise these Terms as well as update the App and Services from time to time, so please keep visiting this page regularly. If you do not agree with any part of these Terms, please stop using the App immediately. We also encourage you to contact our Grievance Officer to discuss your disagreements.

1. SCOPE OF SERVICES

Summary: Astu helps you access personal loans easily. You must be legally permitted to enter into a contract and provide the information and permissions we need in the manner we ask for.

Eligibility: You may use our Services only if you are legally permitted to do so under applicable laws. If we discover that any person using our Services is not capable of entering into a legally binding contract, then we may immediately terminate their account. Do note that if you avail a loan through the App, the terms of the loan will be governed by the applicable User Loan Agreement.
What you get from us: Astu allows you to acquire (a) a personal loan from our Lending Partner in a seamless and paperless manner and/or (b) a home loan from our Lending Partner in a seamless manner. Astu may provide a combination of the following facilities to our users (“Services”): (A) enabling you to avail personal loans; and (B) personal credit management; and (C) enabling you to avail home loans. We may add or subtract from the Services we are providing from time to time.
Signing up to use our Services: In order to use the App, you must create a profile (“Astu Account”) with us through the App. To create a Astu Account, you must provide us your phone number, which we will authenticate with a one-time password. You have to provide us with the following details: (with supporting documents to the satisfaction of our Lending Partner):
1. your name as provided in your PAN Card;
2. email ID;
3. date of birth;
4. residential details;
5. PAN;
6. details of property and title documents (if you are availing a home loan); and
7. such other documents as may be requested by the Lending Partner from time to time.
You should add the information and documents requested in the manner prompted on the App. If you revoke any of our permissions in the App, then you will not be able to use the App. You will also be required to appoint us as your and your co-applicant's authorized agent to access your and your co-applicant's credit information from various credit information companies (such as EXPERIAN, CIBIL etc.).

The Astu Privacy Policy details the nature and type of information we collect and process (either for ourselves or on instructions and on behalf of our Lending Partner) to enable the setting up of a Astu Account, completing the KYC processes or to provide such information to our Lending Partner as it may need to process your loan. If the information provided by you does not, in our sole discretion, amount to reliable information or appears to be fraudulent, then we will not allow you to open a Astu Account and you shall not be eligible to apply for a loan using the App. If we discover any deficiency in the information provided by you on a later date, then we may terminate your Astu Account. Please note that we may add further verification procedures in the future, whereby you may be required to provide us with more information.

2. LOAN PROCESS - HOW IT WORKS

Summary: Through your Astu Account we help you discover the maximum amount you are eligible to borrow from our LendingPartner and the terms on which our partner might lend to you. OurLending Partner will, alone, decide whether to offer you the loan or not. If you have availed a personal loan or any other lending product, the terms of your loan will be provided in the User Loan Agreement executed between you and our Lending Partner.

Your loan is going to be sanctioned by our Lending Partner and be governed by the applicable User Loan Agreement. The details of such loan, however, shall be shown on the App.
Once your Astu Account has been set up, then basis the information you provide us and the information we collect from your device and through other lawful means (both, as detailed in the Astu Privacy Policy), we will inform you of the maximum amount you are eligible to borrow from our Lending Partner. Basis this, you may decide the loan amount you wish to apply for and the monthly instalments you are willing to pay. Once you input these parameters, we will suggest the likely term of the loan and interest rates you are likely to be charged by our Lending Partner. Our Lending Partner takes the decision on whether to loan you any amounts or not, and the terms of such loan.
Once these parameters have been provided and you decide to move forward with availing a loan from our Lending Partner, you will be required to undertake a Know-your-Customer (KYC) process with us. The KYC process must satisfy our Lending Partner. Additionally, if you are availing a home loan from our Lending Partner, you will be required to provide certain property documents, in the form and manner acceptable by our Lending Partner. Our Lending Partner may further ask for any documents and information it would require for its internal processes, in order to sanction your loan.
If you are availing a personal loan, once you accept the proposed loan terms and clear the KYC process to the satisfaction of our Lending Partner, we will direct you to a User Loan Agreement to be executed between you and our Lending Partner.
If you are availing a home loan, you consent to the verification of (a) you and your co-applicant’s data by us and the Lending Partner; and (b) any other data relevant to the processing of the loan application. Thereafter, once you accept the proposed loan terms, clear the KYC process and provide property documents to the satisfaction of our Lending Partner, a User Loan Agreement will be executed between you (including your co-applicants, if any) and our Lending Partner, through offline methods, as intimated by the Lending Partner.
You will be required to issue appropriate auto-debit instructions for your bank account to repay the loan amount, prior to disbursal. These cannot be changed or cancelled during the term of the loan. The App will display the details of the EMI, including the due date and amount payable, as well as whether your payment was received or not, from time to time. Our Lending Partner shall directly transfer the loan amounts to the bank account of your choice, other than vis-à-vis the home loan product, where our Lending Partner may directly transfer the loan amounts to the bank account specified in the Sanction Letter. Prior to making this transfer, however, our Lending Partner may need to verify your bank account.
Please note that you are not permitted to remove the App from your mobile device until the loan has been repaid. In case you are compelled to remove the App from your mobile device, please write to us at support@astu.tech immediately. Any violation of this clause 2(vii) shall be tantamount to fraud and we may initiate legal proceedings against you.

3. PRIVACY OF DATA

You can read about how we handle data in our privacy policy available.

4. YOUR OBLIGATIONS

Summary: You must always (i) provide us correct information; (ii)keep your mobile device secure, and (iii) be responsible for all costs in case we suffer damages or claims owing to your use of the App. Lastly, remember to keep the App updated.

Duty to provide true information: The information you provide is used by us and our Lending Partner to determine your eligibility for any loan and approve and dispense the loan to you. It is critical that all information you provide to us is true, complete, not misleading and is regularly updated by you. If all or any part of this information is incorrect, incomplete or misleading, it would be a breach of these Terms and a violation of the law. We may approach the police and other appropriate authorities to initiate action against you. You must further ensure that you do not do anything that can make the information provided by you incorrect, incomplete or misleading at a later date. If you discover any information provided is incorrect, incomplete or misleading, then please write to our Grievance Officer immediately.
Duty to be responsible: Considering the nature of the App and Services provided, please ensure that you keep your mobile device safe. You are solely responsible for all activities that occur under your credentials on the App and any amounts debited or credited to your bank account. You should keep your password safe and not disclose your Astu Account details to any third party or share the account with any third party. If you think someone has gained access to your Astu Account, please contact our Grievance Officer immediately and undertake such other activities as may be required in your User Loan Agreement. If you are directed to our third-partypayment processor, you may be subject to terms and conditions governing use ofthat third party's service and that third party's personal information collectionpractices. Please review such terms and conditions and privacy policy before usingthe third party's payment services.
Obligation to indemnify: To the extent permitted under applicable law, you agree, to indemnify us (i.e., the Company), our affiliates, directors, agents, and employees from and against all complaints, demands, claims, damages, losses, costs, liabilities and expenses, including attorney’s fees, due to, arising out of or relating in any way to (i) your access to or use of the App and/or Services; (ii) your breach of these Terms, (iii) your breach of any applicable laws or third-party rights.
Ensure compatibility and keep updated: You must ensure that you keep updating the App as and when we release new versions of it. Failure to do so may make you incapable of using the App. You should also ensure that you are able to use the App with your preferred bank account.

5. RESTRICTIONS ON YOU

Summary: You shall not hack or in any way jeopardize the App. You should not use the App for any forward lending purposes or to grant loans to any third parties. You should not use the App/Services for any illegal purposes. These are explicitly barred.

No scaling or jeopardizing our platform: You agree to not interfere with or use non-public areas of our App and our technical delivery system. You will not introduce any trojans, viruses, any other malicious software, any bots or scrape our App for any user information. Additionally, you will not probe, scan, or test the vulnerability of any system, security or authentication measures implemented by us. If you tamper or attempt to tamper with our technological design and architecture, we may terminate your Astu Account. We may further report such actions to the appropriate law enforcement authorities and initiate legal actions.
No commercial usage: You shall use the Services only for your lawful and personal use. You will not use our Services to acquire loans for the purposes of forward-lending the amounts loaned to you. You will not use Astu to grant loans or forwarded services to any third party.
No illegal usage: You shall not use the Platform or the Services for committing fraud, embezzlement, money laundering or for any other unlawful and/or illegal purposes.
Maintenance of bank accounts: You shall not do any action that may jeopardize the Astu Account or in any way frustrate the repayment of the loan amounts as may be disbursed to you.

6. INTELLECTUAL PROPERTY

Summary: We own the content on the App. You cannot duplicate or commercially exploit the App or its content.

All of the content on the App, including, all images, illustrations, graphics, video clips, text, reports generated, trademarks, as well as the underlying code of the App (“App Content”), constitutes our intellectual property.
We give you a limited, non-transferrable, non-sublicensable and revocable license to access the App, avail of the features of the App for your personal, lawful requirements only. You are not entitled to duplicate, distribute, create derivative works of, display, or commercially exploit the App Content, features or facilities, directly or indirectly, without our prior written permission.

7. REGULATORY CHANGES

Summary: Financial technology is an evolving sector. This may lead to changes in law and regulations which may lead to us to modify the App or shutting it down.

Regulation around technology companies such as ours is ever changing. You understand that the Company may have to modify the Services as well as the App on account of the regulatory landscape we are subject to. In such case, if you become incapable of using all or any part the App or the Services, the same shall not be our fault.

8. THIRD PARTY LIABILITY

Summary: In order to provide you with a working ecosystem, we collaborate with various third parties. These third parties have their own protocols, terms of use and privacy practices. We cannot be responsible for their activities.

In providing the Services to you, we will need to use third-party services. This is done to facilitate checking your credit score, facilitating payment to and from you and other practical and functional purposes in order to enhance the Services we provide you. While we have appropriate agreements in place with these third parties, we do not accept any liabilities that may arise from our use of or reliance on such third-party services. Further, it may so happen that you are unable to link your bank account with the App – whether to credit or debit the loan amounts - in which case, we will not be liable for any damages or losses suffered by you.

9. THIRD PARTY CONTENT AND ADVERTISEMENTS

Summary: Ads/third party services displayed on the App are not endorsed. Please use them at your own risk. Please read the terms of use of such third parties before using their services.

We may, from time to time, display offers and advertisements from third parties on our App for your benefit. However, this does not mean we endorse these third parties. If you accept any of the services of such third parties, such arrangement shall be solely between you and the third party, you should avail of such services only after you have read their terms of use and privacy policies.

10. DISCLAIMERS AND LIMITATIONS

Summary: We are a loan facilitator and not a loan provider. We provide our Services ‘as is’, and we make no promises or guarantees about these Services. We will not be liable for damages or losses arising from your use or inability to use the Service or otherwise arising under this agreement.

Astu only helps you gain access to loans, i.e., we are only a facilitator. You are contracting a service directly with our Lending Partner. We accept no responsibility for the provision of loans or its consequences. Our responsibility is limited to connecting you to the Lending Partner, displaying your loan eligibility and the terms of your loans. We accept no responsibility for the terms that we communicate to you in good faith. We are not liable for any losses that may occur as a result of the acts or omissions of the Lending Partner. We do not accept responsibility for any amounts transferred to your bank account or any remittance to your account that has failed. However, we shall undertake all reasonable steps to ensure such actions do not take place.

The App and Services are provided on an “as is” basis without any representation or warranties, express or implied except otherwise specified in writing. We do not warrant the quality of the Services or the App, including its uninterrupted, timely, secure or error-free provision, continued compatibility on any device, or correction of any errors. In no event shall we or any of our affiliates, successors, and assigns, and each of their respective investors, directors, officers, employees or agents be liable for any special, incidental, punitive, direct, indirect or consequential damages or losses suffered as a consequence of a breach of the Terms by another user or arising out of the use of or the reliance on any of the Services or the App.

Availing loans carries a risk and you should speak with your trusted advisors and/or financial consultant before availing any debt of any kind, whether from Astu or not.

In the event any exclusion contained herein is held to be invalid for any reason and we or any of our affiliate entities, officers, directors or employees become liable for loss or damage, then, any such liability shall be limited to the loan amount availed by you.

11. TERMINATION

Summary: We may terminate your Astu Account by informing you by email. However, you will continue to make the payments owed to our Lending Partner as agreed in the User Loan Agreement.

If we decide to terminate your Astu Account for any reason, we will inform you of such decision on the App or by email. However, this will not extinguish your obligations under the applicable User Loan Agreement, and you will continue to repay the loaned amounts as provided in the agreement (as applicable). We will not be liable for any losses or damages that you may suffer from such termination of your Astu Account.

12. OPT-OUT REQUEST

Summary: Email us at support@astu.tech to opt out of receiving any updates from us.

Users who have availed a loan facilitated by Astu may not, prior to the loan being repaid in full, either uninstall the App or deactivate their Astu Account. Such users may further note, that in the event you either delete the App and/or deactivate your account, at any point prior to the full repayment of your loan, such an act will not extinguish your responsibilities under the applicable User Loan Agreement and all loan amount due must be paid as per the terms of the applicable User Loan Agreement.

In case any other user (i.e. any user who either hasn’t availed a loan using Astu or has repaid in full any and all loans availed through Astu), does not want to continue using our App and the Services and/or wants to deactivate their Astu Account, and/or unsubscribe from the mailing lists, they may do so by contacting us at support@astu.tech.

13. GRIEVANCE

Write to our team at: support@astu.tech

14. FORCE MAJEURE

Summary: We cannot be held responsible for any deficiency or loss of Services owing to any reasons outside of our control.

Without limiting the foregoing, under no circumstances shall the Company be held liable for any damage, loss, loss of services of App, due to deficiency in provision of the Services resulting directly or indirectly from acts of nature, forces, or causes beyond its reasonable control, including, without limitation, internet failures, computer equipment failures, telecommunication equipment failures, or any other government regulations, floods, storms, electrical failure, civil disturbances, riots.

15. GENERAL PROVISIONS

Notification: We shall notify you of any relevant information pertaining to your use of the Services by push notification on the App, SMS, instant messaging services, whatsapp or email. You may reach out to us via email at support@astu.tech.
Disputes: These Terms and any action related thereto will be governed by the laws of India. Any disputes arising out of or related to the Terms, the App, or the Services shall be subject to the jurisdiction of the courts located in Bengaluru, Karnataka.
Assignment: You shall not assign or transfer any right or obligation that has accrued to you under these Terms, and any attempt by you to assign or transfer such rights and obligations, shall be null and void. We may assign or transfer any right or obligations that accrued in our favour, at our sole discretion, without any restriction.
Waiver: Unless otherwise stated expressly, any delay or failure in our exercising any rights/remedies arising out of these Terms and/or other policies available on the App, shall not constitute a waiver of rights or remedies and no single/partial exercise of any rights or remedies, hereunder, shall prevent any further exercise of the rights/remedies by us.
Survival: You acknowledge that your representations, undertakings, and warranties and the clauses relating to indemnities, limitation of liability, repayment of loan, governing law & arbitration and these general provisions shall survive the efflux of time and the termination of these Terms.
Severability: If any provision of these Terms is held illegal or unenforceable, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby. Any such provision held invalid, illegal or unenforceable shall be substituted by a provision of similar import reflecting the original intent of the parties to the extent permissible under applicable laws.

16. REFUND/CANCELATION

Transactions cannot be cancelled after they are initiated. If the User has entered the wrong account number/VPA ID, then the Company is not a liable party in the transaction.
All transactions are real-time and if there is any delay in the end of the transaction, then the User can check with support team of Astu Credit at support@astu.tech after 60 mins cool period.