Loankone Logo

Terms and Conditions

Last Updated: July 15, 2025

Introduction

These Terms form the Agreement between the User (“You/Your”) and NEELKANTHAN FINANCIAL SERVICES PRIVATE LIMITED (“LoanKone”) for availing of the services, including Account Aggregator via our business partner. The terms that govern the usage of services have been described herein. Electronic acceptance to this is considered to have been taken from You when You click on the “I Agree” button in the “Terms & Conditions”. LoanKone shall accept such applications as may be submitted by You as per requirements of LoanKone, which are in line with the applicable law. By acceptance of these Terms to avail AA services and other services offered by LoanKone, You acknowledge and complete registration with LoanKone.

To create an account, You need to provide the current, complete and accurate information. You agree to share information for the purpose of registration as a user and solely responsible for the conduct of the account after it is created. You become a registered user of LoanKone for the purpose of account aggregation and other services as provided by LoanKone from time to time.

On successful completion of the process of Your identification, You are required to maintain the user details, if any and secure and also prevent any unauthorized or illegal use of the accounting in any manner. Any consequential liability due to such use shall be the responsibility of You alone.

Terms used in this "Terms and conditions" agreed to by You shall have the same meaning as ascribed to them in the Master Direction- Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016 (herein called Applicable Law) subsequent amendments thereto, unless the context indicates otherwise and such other applicable law.

Services Provided

LoanKone shall provide Services, of retrieving, storing or collecting such financial information pertaining to You, as may be specified by the RBI from time to time and consolidating, organising and presenting such information to You or any other FIU as may be specified by the bank; or sharing the financial information to You, as per Financial Information submitted by FIP.

You shall not alter, fabricate or change any details of the financial information accessed through the LoanKone platform and in such a case, without prejudice, LoanKone will be entitled to claim damages for any loss of reputation or financial loss and also for breach of trust under these terms.

You may exit the AA services by choosing to de-register from the services by using the appropriate option in the portal. You shall pay the service charges and taxes as set out in the tariff schedule and its terms on www.LoanKone.com and as modified from time to time.

You may use the features in the application or the help desk facilities for resolving any queries or complaints that he may have. You shall approach the Grievance Redressal Officer of LoanKone in case the complaints remain unresolved beyond the specified time as per the Grievance policy, which is posted on the website of LoanKone. You who intends to lodge any complaint or grievance shall write to Grievance Redressal Officer whose email ID is contact@loankone.com.

Disclaimer of Warranties

LoanKone does not guarantee the accuracy, completeness or correct sequence of any of the details provided therein and therefore no reliance should be placed by You for any purpose whatsoever on the information contained / data generated herein or on its completeness / accuracy. The use of any information set out is entirely at Your own risk.

You should exercise due care and caution (including if necessary, obtaining advice of tax/ legal/ accounting/ financial/ other professionals) prior to acting or omitting to act, on the basis of the information contained / data generated herein. LoanKone shall not be liable for any loss arising from the use of the AA services. You shall be solely liable for any consequences, legal, financial or other, that may arise out of usage of the AA services.

Indemnity

In consideration of LoanKone providing You the AA and other services, You agree, at your own expense, to indemnify, defend and hold harmless LoanKone, its directors, employees, representatives, agents, and its Affiliates, including business partners against any loss, damage, expense, cost, including, but not limited to, reasonable attorney’s fees and costs awarded or loss suffered by them; or any claim, suit, action or other proceeding brought against them by You or a third party, to the extent that such loss, damage, expense, cost, claim, suit, action of other proceeding is based on or arises as a result of or in connection with:

  1. LoanKone or Affiliate’s execution of instructions;
  2. a violation of the Terms by You;
  3. any unauthorized use of AA or other services by You;
  4. any misrepresentation or breach of representation or warranty made by You;

General

Information on the site / mobile application:

The information provided to You through AA services is not updated continuously but at intervals at the choice of You. Consequently, any information supplied to You through AA services will pertain to the date and time when it was last updated and not as the date and time when it is supplied to You. LoanKone shall not be liable for any loss that You may suffer by relying on or acting on such information. LoanKone shall keep its records of the consents/operations as per RBI’s Master Directions. In the event of any dispute, LoanKone's records shall be binding as conclusive evidence of the consents carried out through AA services.

Change of Terms:

LoanKone shall have the absolute discretion to amend or supplement any of the Terms and/or terms and conditions stipulated by LoanKone and/or its Affiliates pertaining to the Accounts and/or to any services/facilities offered by LoanKone and/or its Affiliates at any time, LoanKone shall give prior notice where applicable, of such period as may be deemed practical, when directed by RBI or other regulator or due to legal or technical requirement, by hosting the same on the Website or informing in any other manner as decided by LoanKone. You shall be responsible for regularly reviewing these Terms and the terms and conditions stipulated by LoanKone and/or its Affiliates including amendments thereto. Such amended terms and conditions stipulated by LoanKone and/or its Affiliates will thereupon apply to and be binding on You, as may be directed by RBI or other regulator or legal / technical requirement, as the case may be.